because in major cities like New york and Miami have
begun embracing crypto believing it to have the potential to
transform their cities. Miami's mayor has vowed to implement
the first city in America to get Bitcoin as a
dividend to its residents through its recently implemented Miami coin
Alicia. Um if you told me about this a
year ago, maybe before this week when we saw
billions wiped from cryptocurrencies last week when we saw crypto
tumbling wipe off nearly 100 and 50 billion. Oh
I correct myself. This week we saw a trillion
. Right? So yeah, and I look at
just how the 10-year Treasury yield spike has escalated the
situation in crypto. We know that the Fed wanting
to curb inflation could also play a role in this
as usually people move toward crypto currency as a hedge
against inflation. I don't know if this is the
best thing moving forward, but we were just talking
last week about el Salvador and how they're bullish on
crypto specifically Bitcoin I think in a different situation economically
with our environment. Yes, I don't know if
this is the way to move forward though, during
volatile times, like the ones that we're seeing,
you know, I think the way that it's positioned
right now is that it's extra money right? It's
like a dividend, the government giving you a dividend
back. Um it doesn't seem to be like if
on the downside they'll get a tax that they'll need
from from citizens. So I think it can be
interesting and if you're a bull in Bitcoin even amid
kind of this pullback, you're really looking to 1.2
2017 when Bitcoin was just inching near 20,000 and then
for two years it kind of pulled back all the
way down to I think what, 8000 or 3000
I think in a two year period it went down
. But then it's been on the steady rise ever
since. So you're going to have these swings and
fluctuations. I think that's why everyone is pointing to
this$30,000 market. That's a threshold to the downside
when it was up 60 you know, 60,000 obviously
. Um, but then it will continue to have
that upward trajectory will have these Pullbacks and yes,
albeit more volatile and more drastic Pullbacks to kind of
, you know, eat and swallow. But I
think, you know, if you're a bull,
you're looking back at 2017, we saw this pattern
and then we still saw it. You give it
time and if you're a long term investor, if
you're someone in Miami and you're getting a dividend potentially
here, you hold it and you live in the
city for 10, 20 years over that period of
time, you'll be all right. It's a good
point and we'll see if they're able to implement it
and how it actually cares for these communities. Certainly
an interesting case study to watch. Yeah