“Sayonara” Bitcoin has officially dead the 473rd time, and it came back stronger as always
1 min read
On 14 March 2023 Bitcoin died 473rd time, Robin Brooks, an economist at the Institute of International Finance (IFF), shared this post on his Twitter account with 231k followers called bitcoin has a zero value and is a bubble (nothing new we heard). He thinks federal interest rate hikes are only affecting bitcoin, this tweet most likely belongs to a hater than an economist. Meanwhile, 22 Bank stocks halted to avoid going zero after the collapse of Silicon Valley Bank because of FED’s interest rates. After he tweeted that, bitcoin turned its way up rapidly and gave us an example of just another inverse economist.
So it turns out that Bitcoin is just another bubble asset that blows up when the Fed gets serious about hiking interest rates. Zero store of value function. Zero diversification benefit. Zero yield. Sayonara Bitcoin…
submitted by /u/mesutdmn
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