And the world wide asset bubble is now at it's greatest in anyones lifetime.....I believe the assets bubbles of today are bigger than the dot com and crisis of 2008 combined!!!
Interest rates are low and staying low as consumer inflation or wage increases have not picked up. Why would you want cash when the money supply increases exponentially? You have to look at the situation the other way round. The assets stay the same, money is decreasing in value. In Weimar Germany, the way to survive hyperinflation was to be in debt.
Who would have thought a coin invented out thin air that has no regulations is decentralized and that is in the biggest bubble in history would land in the futures market on the CME....oh wait thats right if there is money to be made in risky assets wallstreet offers you ways to trade it.......plus it seems every asset class is in a bubble already so why not just add another asset class to the list that's a bubble..... wallstreet is the king of bubbles and the fed is fuelling every last bit of it....in today's world without bubbles an economy can no longer exist!
So I'm going to take greenbacks that are decreasing in value and buy a virtual currency that is supposingly going to increase ....
If it's possible to trade something as ambiguous as weather futures... http://www.cmegroup.com/trading/weather/ ...then why not something as ambiguous as crypto futures?
Just tried shorting bitcoin in this investment vehicle that I follow and it doesn't allow it!!!! Yep go figure....
The supply of dollars is increasing faster than the bitcoin can be mined. There will only ever be 21 million bitcoin. The supply of.dollars is endless. There are more people without bank accounts than with. Maybe they have a need for financial services on a smartphone.
New ATH for bitcoin today at $6351/btc. This is huge news! The institutional investors will be pushing even harder on their brokers to buy into cryptos since they have a way to offload risks on the futures market. I think $10K/bitcoin is a done deal by eoy.