Kraken strategist has a warning over Goldman Sachs strategist’s warning over Bitcoin’s value.

Thread https://twitter.com/crypto/status/1357368876342902787

1/ “Something with a long-term volatility of 80% can’t be considered a medium of exchange”

Bitcoin’s volatility is due to its sound monetary policy. Inelastic and fixed supply means that BTC’s exchange rate appreciates when there is demand from adoption.

2/ Bitcoin is volatile after its exchange rate over-appreciates. This is called a revaluation crisis (contrast with devaluation crises for fiat).

Long term holders of bitcoin should look at Sharpe ratio: bitcoin has the highest historical risk-adjusted returns of any money.

3/ “Just because everybody piles into into an idea and talks it up doesn’t mean it’s a store of value”

This is true.

Bitcoin is a store of value not due to momentum or shilling.

Bitcoin is a store of value because p2p governance prevents dilution (max 21 million BTC).

4/ Bitcoin is a store of value because it has a sound monetary policy and advanced multisig smart contracts for maximum security and freedom.

It’s not a fad or fashion, Bitcoin has real fundamentals.

5/ END THREAD

Follow me if you want to learn more about Bitcoin’s fundamentals.

If you know Goldman Sachs Group Inc.’s Sharmin Mossavar-Rahmani, please put us in touch so that I can help her get out of the fiat echo-chamber cult.