When interest rates are zero or negative, the value of future cash flows is huge and that is how you get PE and EBITDA ratios of over 100 and price/revenue multiples approaching 100. After the next $1.9T in stimulus, 40% of all dollars in circulation will have been created in the last 12 months!
The big question is how does this end?
Bitcoin crossed $54,000 this week and a $1 trillion market cap.
* If you spend $1 every second for 31,710 years - that is a trillion!
It has been a blast compiling content that caught my attention for the past 6 months, however, the time has now come to end this newsletter.
Those of you reading this frequently should have a pretty good understanding of my views, for what it is worth and with bitcoin now trading around $57,000 it is time for me to move on.
There are many great bitcoin related newsletters, twitter accounts, podcasts, blogs, books and other resources out there and below I have put together a list of some of my personal favourites, I hope you find some of them useful.
Thank you for reading the letters and for the many kind comments, I really appreciate it.
Don’t trust. Verify.
À Bientôt
Klaus
Newsletters
Podcasts
The Break Down (short daily summary)
Twitter accounts
Websites
Books
The Art of Execution by Lee Freeman-Shor
The Bitcoin Standard by Saifedean Ammous
The Internet of Money by Andreas M. Antonopoulos
The Price of Tomorrow by Jeff Booth
The Sovereign Individual by James Dale Davidson
This newsletter is for informational purposes only. Individuals and entities should not construe any such information as legal, tax, investment, financial, accounting or other advice. Nothing contained in this newsletter constitutes a recommendation or endorsement by the author to buy or sell bitcoin, cryptocurrencies, music rights or other financial instruments. #DYOR