Posted 3/27/2024, 2:08:00 PM
Bitcoin Soars on SEC Approval and Investor Fears of Reckless US Fiscal Policy
- Bitcoin rally is "getting out of control" due to SEC approval of Bitcoin ETFs and investors seeking alternatives to fiat currencies
- Bitcoin and gold are rising due to lack of fiscal and monetary policy coordination around inflation in the US
- US has rapidly growing debt and interest expenses, crowding out other parts of the budget
- US fiscal policy is taking "Charlie Sheen levels of irresponsibility", removing price signals and causing moral hazard
- Bitcoin is speculative but demand likely to increase unless changes are made to reckless US fiscal policies