💥OFFICIAL: Central African Republic has adopted #Bitcoin as legal tender - President's Office.

Important to note that Panama made Bitcoin legal and will not apply capital gains tax to Bitcoin. This is not legal tender, which requires everyone to accept Bitcoin as payment. Though this bill does make using Bitcoin as a medium of exchange practical.

Investor sentiment is at historic pessimism. In 35 years, only five other weeks got this extreme: • Four during the 1990 Recession trough / Inflation peak. • One at the exact bottom in March 2009.

One of the most interesting charts I saw during the #Bitcoin conference was this one by @peterthiel. In 1980, the global stock market was capitalized at parity with the total market cap of gold! However, today there’s a 10X difference. Why? 🧵 1/6

If crypto taught me anything it’s thus: If you feel like telling all your friends to start investing in the thing because of the ridiculous gains you’ve made SELL

Is the secular trend in rates reversing? Here, a linear regression line with a volatility band (5-year average of the high-low range). We're at the upper band of a falling channel. Given the persistence of this secular trend, I would bet on mean-reversion…