It's not surprising to see a massive grifter says something false -- but in this case it's not only wrong, but the exact opposite of the truth. https://twitter.com/tyler/status/1361389203406340098
Chart below is correlation of BTC with SPX on five minute bars (each dot is one day, the line is a moving avg). Before Mar 2020, BTC was neither risk on nor risk off (uncorrelated with SPX) but for the last year it is very risk-on (positively correlated with SPX)
Chart below is the same thing for USD, which was weakly correlated with SPX before Mar 2020, but is now heavily risk-off, i.e. the dollar rises when SPX is down and vice versa.
What have we learned? 1. grifters gonna grift 2. buying BTC as an end-of-the-world hedge is fucking stupid 3. Math is cool.
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