Oddbean new post about login | logout neither bitcoin nor gold or nvidia will go to moon in dollar terms IF there is GFC type banking or liquidity crisis which is brewing slowly under the hood for now. rate cut vs rate raise based moves can be short term. this changes nothing in long term decade or two timeline unless something fundamental changes than it happened in past 55yrs.
It doesn’t seem bitcoin is mature (?) enough to protect us if a financial crisis hits.
It did pretty good during covid. Bitcoin is the solution to monetary debasement. It is not a short term stable coin which is immune from liquidity and market forces. If everything were denominated in bitcoin it would be much more stable, but it would still never match traditional markets because they are artificial and create systemic risk to suppress volatility. Even with a Bitcoin standard you'll probably have a few 5-10% flash washouts every now and then because it's an actual free market.