Posted on 05/21/2025 12:18:03 PM PDT by zeestephen
Bitcoin erased most of its gains after briefly setting a new record price...Earlier, Bitcoin rose about 3% to $109,857, surpassing its January record...Since the beginning of the year, the number of Bitcoin held by public companies has grown 31% to about $349 billion...15% of the total Bitcoin supply.
(Excerpt) Read more at cnbc.com ...
later
Well, the Dow being down 900 points can’t have helped
The bond vigilantes do not like the smoke and mirrors concerning the US budget and what they consider insufficient steps to rein in spending.
President Trump has a lot of power. That power has limits when it comes to the bond market.
Yup. We continue spending like the proverbial drunken sailors. No one will touch entitlements, which is the whole ballgame. The Big Beautiful Bill plays pander bear politics on SALT deductions and tip income. Oh heck, full steam ahead.
[The bond vigilantes do not like the smoke and mirrors concerning the US budget and what they consider insufficient steps to rein in spending.
President Trump has a lot of power. That power has limits when it comes to the bond market.]
Today, in peacetime, Trump submitted a budget for a 7% deficit. If future budgets resemble this, we will soon be repeating the double digit mortgage rates of the 1980s - loan rates similar to the ones that led to Trump’s Chapter 11 filings.
I bought some bonds backed by federal government today paying 5.25% interest. I intend to hold them to maturity in 7 years.
What percent deficit was during Biden’s 4 years?
[What percent deficit was during Biden’s 4 years?]
I concur that deficits are bad in the long run since the debt follows magic of compounding interest. Only good thing is the projected deficit is lower as a percent of GDP during Biden.
Also the figures are based on static model and ignores dynamics of economic expansion from taxes not going up, regulations being cut, and TRILLIONS pouring in to build manufacturing plants in USA.
Without this bill, there will be a huge tax increase across the board.
I was an early person to bitcoin. I have commented before that I took a family trip to Disney World with my bitcoin earnings.
Since 2020, I got out of bitcoin and all alt coins. Two months ago I stated buying again. $100-$200 a week. I will buy at least $2500 by the end of the year.
I am already biggly in the stock market also for the past two months.
The more the government spends recklessly the more the Fed has to print $$$ to cover things one way or another. We know the Democrats aren’t going to solve this problem. But if even Trump and the Republicans insist on making it worse rather than fixing it then the end is near for the dollar. Practically speaking that leaves gold and bitcoin, and you can’t spend gold online.
(((CRYPTO PING!))) Bitcoin Hits New All-time High!
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.
The exclusion clause of the stable coin bill is specifically meant for Tether, which back bitcoin, is why this is happening.
I have parlayed myself into nearly becoming a BTC millionaire after I started mining etherum and trading altcoins. Today I have only BTC and SOLona... Micro Strategy & Telsa.
It broke an all time high today... It will do it all summer long.
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