Saylor Sells Bitcoin: Is His Cult Crumbling?
“Never. No. We’re not sellers. We’re only acquiring and holding Bitcoin. That’s our strategy.” — Michael Saylor, Bloomberg, January 2022 Four and a half years later, Strategy’s founder Michael Saylor’s never-sell doctrine is dead. Between May 26 and May 31, […]
Homesellers Dwarf Homebuyers: Home Prices At Risk
The housing market is experiencing a widening imbalance between homesellers and homebuyers, with listings rising faster than demand. This is contrary to the post-pandemic period of extremely tight inventory and strong demand. Homeowners with ultra-low mortgage rates who were initially […]
Time To Swap Gold For Bitcoin?
The dollar-debasement narrative is in full swing, as evidenced by the price of precious metals. However, one look at bitcoin, which should also rally on the debasement narrative, tells you something is amiss. We do not buy into the dollar-debasement […]
Do Sentiment Trends Boost Reflation Odds
On Monday, we discussed how the Truflation inflation gauge points to a sudden price decline, which clouds the reflation outlook. Today, we share recent consumer sentiment readings that counter the disinflation story and support the reflation narrative. On Friday, the […]
Copper Prices Surge To All Time Highs
On Monday night, copper prices, as shown below, reached an all-time high of over $12,000 per metric ton. Copper is often referred to as “Doctor Copper” because it serves as a barometer of global economic activity. However, the current surge […]
Is Strategy Dragging Bitcoin Down?
Bitcoin is up 2% year to date, but the share price of the world’s largest holder of Bitcoin, Strategy (MSTR – formerly MicroStrategy), is down about 30% year to date. As we have noted in the past, Strategy is a […]
Bitcoin Is Off The Leaderboard: Whats Next?
On many recent occasions, we have noted that the market breadth is poor and appears to be worsening. By worsening, we mean that the number of market leaders is declining, and a growing number of stocks, stock factors, sectors, and […]
Gold Or Bitcoin: Which Is The ‘Right’ Dollar Hedge?
Gold and bitcoin are touted as the “anti-dollar”, or in some people’s minds, possible replacements for the US dollar. Thus, one would expect the dollar-debasement trade to benefit gold and bitcoin similarly. The reality throughout this year has not been […]
Kimonos For Bitcoin: 150 Year Old Company Goes Crypto
In a bold and unusual pivot, a traditional Japanese manufacturer of Kimonos is transitioning to a cryptocurrency treasury company. Marusho Hotta, which has been manufacturing kimonos since 1861, will rebrand as the Bitcoin Japan Corporation. The transformation stems from a […]