alt Hacker News> Bitcoin, down more than 40% from its October peak, is now “exposed as a completely speculative asset.”
“Now”? No; it’s always been a speculative asset. The only folks who didn’t think that were those who didn’t know any better.
> Bitcoin, down more than 40% from its October peak, is now “exposed as a completely speculative asset.”
“Now”? No; it’s always been a speculative asset. The only folks who didn’t think that were those who didn’t know any better.
To drive home the ridiculousness of this, Bitcoin traded around $126k in October. It’s now at $60k. Even if it recovers, that’s an 87% annualized loss.
That’s a 669% inflation rate.