Cryptos Soar After Largest Inflows In Two Years As US Dollar Purchasing Power DOWN -16.5% Since Covid (M2 Money UP 35.3%)

Confounded Interest ^ | 12/03/2023 | Anthony B. Sanders

[Kaiser8408a]

Joe Biden has a new name: the crypt keeper. As in the person through his economic screw-ups is causing a massive inflow to cryptos.

Anticipation of an eventual US spot Bitcoin ETF – which Bloomberg’s analysts assign a 90% probability of being approved by the SEC in January.

as well as surging prices, have helped to spur inflows into digital-asset investment products for a ninth consecutive week, the largest run since the crypto bull market in late 2021.

According to a recent report from CoinShares, these products which include trusts and exchange-traded products, saw inflows of $346 million last week, with Canada and Germany contributing to 87% of the total. Only $30 million came from the US, a sign of continued low participation from the country, the asset-management firm said. Of course, that will change as soon as investors start seeing double digit percentage weekly gains, and reallocating their money into crypto in droves, just like they did in 2020 and 2021.

Since early October, the crypto market has surged as traditional asset managers like BlackRock prepared for spot Bitcoin ETFs, potentially bringing in many more investors into the asset and resulting in inflows of tens of billions in fresh capital.

“The combination of price rises and inflows have now pushed up total assets under management to $45.3 billion, the highest in over one and half years,” the report said

Since Covid and the idiotic government and school shutdowns of 2020, the purchasing power of the US Dollar has fallen -16.5% as M2 Money grew 35.3%. Keep on printing?

I suppose Biden’s biography can be called “Tales From The Crypt(o)”.

[jimwatx]

Gold is also soaring and imo is a safer bet than crypto which the government could easily shut down anytime they choose.

[aMorePerfectUnion]

Crypto Ping List!

If YOU would like to be on a CRYPTO PING LIST, please pm me.

The Crypto Ping List covers the following:

Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.

Thanks! For it - or ag'in it, it'll be a wild ride.

[John S Mosby]

But digital currency controlled by the non-private “Federal” Reserve private bank... is one more nail in the coffin of a real United States currency. We, the citizens of the United States as represented by Congress do not control nor maintain the Currency, the Money of the USA.

Not a good thing at all. And the fact a completely fake money bit coin scam is being touted by this same “Federal” Reserve is a terrible thing for our Freedom, economic and personal under a Constitutional Republic.

One must pray they do not take on a new digital currency.

[Signalman]

What an amazing concept. Put more unearned dollars into the system, give it to people who didn’t work for it or invest it, and then the value of each dollar goes down till it’s almost worthless.

Who would have thought?

[dennisw]

I just looked at the AU charts. Up $100 in the last 30 days. Which means is up roughly 5%. I suppose Bitcoin and other prime cryptos are up more than 5%. My guess is 10%.

>Just checked. Bitcoin is up roughly 8.4% in last 30 days.
>Silver is up 10.8% in last 30 days
> Au up 5% last 30 days

[dennisw]

Just posted this>>>>

I just looked at the AU charts. Up $100 in the last 30 days. Which means is up roughly 5%. I suppose Bitcoin and other prime cryptos are up more than 5%. My guess is 10%.

>Just checked. Bitcoin is up roughly 8.4% in last 30 days.
>Silver is up 10.8% in last 30 days
> Au up 5% last 30 days

[dennisw]

Ethereum up 13.5% in last 30 days. So Ethereum wins! It has risen more than Bitcoin, gold, silver in the last 30 days.

[jimwatx]

>Silver is up 10.8% in last 30 days

Yup that’s the one I’m holding. While it’s theoretically possible they might outlaw the private holding of gold to some extent like they’ve done before, it would be nearly impossible for them to do the same with silver.

[dennisw]

Silver is sheit in a deflation and a depression. Because it is primarily an industrial metal. Silver did great in Germany’s hyperinflation. I suppose in real chaos here, your silver dimes and quarters will be very acceptable to buy some gasoline. But so will green paper Federal Reserve notes. These FR notes will be good and accepted because it’s all the sheeple have known. Unless we get with nukes and EMP blasts.

I bought some silver in 1982 for $16/oz. I still have it for old times sake and it looks good. Silver price today is $25.71. Silver is sheit.

[taxcontrol]

Inflation realization taking hold.

[Vermont Lt]

You write this every time a story about Bitcoin is posted. Clearly…you are not interested in learning. You simply repeat lies you read somewhere from other people who don’t know what they are talking about.

[Vermont Lt]

Bitcoin is up 135% on the year.

[Vermont Lt]

I sold some gold Friday. I had been holding these Gold Buffaloes for 6 years. My net gain on them? About $100 apiece. Gold is insurance. It is a weak investment at best.

[Glad2bnuts]

How will they monetize an electronic value to Bitcoin?

[SunkenCiv]

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[taxcontrol]

Understand the difference between currency, money and value. Currency is the barter of a specific money that has an assigned value. A transaction is the agreement between seller and buyer to exchange money for goods and services.

Historically, “money” has been bank notes, coins, even carved rocks. Unless the money is MADE from a precious metal, the value is not backed by anything substantial. Thus the value requires the good will of both parties, seller and buyer.

The population is beginning to realize that US paper money, is being deflated as it is not backed by .... well anything. Worse still, the government can print as much money as they want.

What is different with crypto currency is that there is a LIMIT to the number of money / bitcoin, that can be in existence.

[Wildbill22]

In Ayn Rand’s libertarian novel Atlas Shrugged, the question everyone was asking as the world burned was “who is John Galt”. (who was recruiting the best minds, and living the dream of true economic freedom from government intervention).

Today we are asking “Who is Satoshi Nakamato”, for the same reasons.