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1/ “BUT THEY WILL BAN BITCOIN.”
Let me quickly explain why this threat is HIGHLY overestimated and why it is NOT possible or even reasonable.
$1,000,000+ #Bitcoin is nearly inevitable.
— Moon Capital 🔑 (@Moon__Capital) November 11, 2020
I think this is a good thread.
Also, the gold ban in the 30's meant that gold moved from the US to Switzerland etc. Gold continued to trade globally as normal. Capital control anywhere have never worked and gold has always worked. Bitcoin will be the same. https://t.co/78nenyEVLs
— Raoul Pal (@RaoulGMI) November 12, 2020
I agree with most of this, but not the peg-breaking argument.
True, US doesn’t have reason to ban BTC to break a peg, but when (when!) the bond market collapses and high inflation breaks out, every plausible scapegoat will be sought.
Ban will fail, but may indeed occur. https://t.co/YwQlOfBxHW
— Erik Voorhees (@ErikVoorhees) November 12, 2020
Disclaimer The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.