Investment director of One River Asset Management Eric Peters in a column for ZeroHedge shared his opinion about the possible purchase of bitcoin by Elon Musk and the events surrounding it. One River in December revealed its intention to concentrate up to $1 billion in bitcoin and Ethereum, having already invested $600 million at that time and received the support of billionaire Alan Howard, and, judging by subsequent reports, fulfilled its plan.
"Looking back, it was inevitable," Elon wrote on Twitter. No doubt it is. Everything, looking back, is inevitable. Musk only added " #bitcoin” to his Twitter profile description, the journey is complete, fate is digital, inevitable.
It's possible that Elon hasn't bought his bitcoin yet and has made a prior notice of intent, raising prices in the lead-up to the purchase. But sober-minded people don't do that.
Only central banks do this. They tell us what to buy, in what quantity, and when, knowing that those with capital have outstripped their purchases. For decades, this has helped bankers distort the price of money, the availability of credit, and the valuation of assets.
In retrospect, it was inevitable that those with the means to stay ahead of the Fed's manipulations would accumulate far more wealth than those without.
Looking back, it was inevitable that those who did not have such funds would resent those who did.
And it was inevitable, in retrospect, that in the absence of a sensible policy to rebalance the system, those who took advantage of the Fed's policies would increasingly come into confrontation with those who did not. Naturally, the latter will be much more numerous than the former, and they will ultimately prevail in a full-scale conflict.
Therefore, in retrospect, it was inevitable that those with the means to stay ahead of the Fed's actions would find ways for their policymakers to give just enough money to those who didn't have it, so that they wouldn't get into such a standoff.
And while they argued over the approval of the $1,400 checks, it was also inevitable that those who didn't have them would rise up in unexpected ways to attack the institutions they blamed for the injustice they had experienced. Storming our Capitol. Organizing a short-squiz of our Citadels (note-Citadel is an American multinational hedge fund, the main enemy of investors with Reddit).
It was also inevitable that such conflicts would be the prelude to a turbulent decade.
And, of course, it was inevitable, in retrospect, that while central bankers and politicians were increasingly desperate to patch up the growing holes in their own creations, with printed paper, sober-minded people sought refuge from such things.