The Crypto Scam Reserve
Bullish or Bearish?
The highly anticipated “bitcoin reserve” appears to be taking shape, as a crypto reserve.
The Optics
Crypto has forever had a very negative view in the public eye. The industry has been working tirelessly to change this. Bitcoin has really decoupled, in a sense. Far more people can “accept” Bitcoin as digital gold, especially now as we see everything moving online.
The rest of crypto has been taking a beating in the recent months as the only press we receive is about crime and scams.
This is where the optics become important for the Bitcoin Reserve.
I rarely ever agree with Peter Schiff, infact probably never. And even this take is a bit harsh but I understand the sentiment.
The point is that most people can accept having a bitcoin reserve even if they don’t love bitcoin. Adding the other coins in it, creates a lot of risk. Insider trading, poor price action.
The chances that there was no crime leading upto announcement of the reserve is very low in my opinion, and it will come out eventually making a completely mockery once again of our industry.
Time will tell. For now, we enjoy the ride. It should be an exciting 4 years.
Opportunities
There’s still money to be made on Solana, and other chains. I discussed buying $collat at 13m in this video, which has proven to be quite rewarding. $ PEP also did well, while dozens of other coins have performed admirably. AI tokens have seen a bounce as well with the inflow into crypto.
It shows that despite the market cooling off significantly there will always be ways to win.
We must stay patient and, disciplined.