1/ Few people understand the idea of #Bitcoin denominated exit liquidity.

With the current macro environment, exponentially growing government, and rapid embracement of MMT, USD denominated prices can go to ∞.

This DOES NOT mean they can be cashed in for their $BTC equivalent.
2/ The most obvious example of this is a stock like $AAPL.

Its market cap sits at $2.5T, which is roughly 41.8M $BTC. Of course if all apple shareholders decided to cash out to #Bitcoin today, they would not end up with 41.8M $BTC, as there are currently only 18.8M that exist.
3/ $AAPL and many other large $USD denominated assets have very poor #Bitcoin denominated exit liquidity.

The global bond market probably has virtually ZERO $BTC denominated exit liquidity.
4/ Not only does this apply to tradfi assets, but this applies to crypto assets as well.

Your NFT, and $DOGE bags may temporarily outpeform $BTC, but you're still relying on greater fools to buy your bags, AND you're hoping nobody else cashes out into #Bitcoin before you.
5/ $DOGE is currently worth about $31B ≈ 517,000 BTC.

This is worth more than half of ALL the $BTC on coinbase. Trying to cash out $DOGE into $BTC will not work out well.
6/ TLDR: There is no #Bitcoin exit liquidity.

Stack as many sats as you can while all other assets are still priced in USD fantasy land.

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More from @IIICapital

17 Nov
#Bitcoin is money that cannot be diluted. Money is a call option on all future capital forever.

Post-hyperbitcoinization, the real return of bitcoin will be the equivalent of $SPY or a “diversified” portfolio.

99.9% of the world will have > 90% of their net worth in #Bitcoin.
Just because most people just sit on their #Bitcoin, does NOT mean growth will slow.

Growth will drastically accelerate bc the market converging on HODLing bitcoin will increase its purchasing power until entrepreneurs see real alpha in the market.
How?

If an individual HODLs #Bitcoin, the very act of removing supply from the market increases the purchasing power of all other bitcoin savers.

This upward feedback loop repeats until someone sees a good risk-adjusted opportunity to invest.
Read 4 tweets
4 Oct
1/ #Bitcoin is the first REAL money society has ever discovered.

It is the catalyst towards near perfect price signals due to its strong, drastically underestimated, propensity to HODL (only 21M).
2/ You can do 2 things with #Bitcoin.

1. Invest it (to earn more $BTC).
2. Spend it (to consume today).
3/ Investing #Bitcoin successfully will be incredibly difficult. 99.9% of people will likely not have traditional investments.

This means that $BTC will be HODL'd and the price must increase until a HODLer sees a good risk-adjusted opportunity to invest today.
Read 8 tweets
24 Sep
1/ #Bitcoin is the best form of money ever discovered by humans.

This thread will recap why this is the case and what incentivizes people to "save" or HODL.
2/ #Bitcoin is an asset that has 2 unique characteristics.

1. No counter-party risk (no reliance on government, corporations, or any group of people)
2. No dilution risk (21M coins max)
3/ Bonds, stocks, real estate, fiat money, private equity, gold, and venture capital each contain one of those two risks (counter-party risk or dilution risk).
Read 8 tweets
2 May
1/ INSIDE THE EVENT HORIZON with @MimesisCapital

THREAD #15

bitcoinmagazine.com/markets/why-is…
2/ A common “knock” on Bitcoin is that it is “too volatile”.

However, volatility isn’t necessarily a bad thing. In fact, volatility creates opportunity.
3/ Volatility and return can be assessed using something called the Sharpe Ratio, a risk adjusted return. The Sharpe ratio divides the asset return by the risk / volatility over a 4 year HODL period.
Read 11 tweets
17 Apr
1/ INSIDE THE EVENT HORIZON with @MimesisCapital

THREAD #14

bitcoinmagazine.com/markets/bitcoi…
2/ The 60-40 portfolio is the basic idea that passive investors looking to efficiently transfer wealth through time should diversify their assets into 60% stocks and 40% bonds.

#Bitcoin is killing the 60-40 portfolio.
3/ Why shift out of bonds into Bitcoin?

First, Bitcoin is the world’s hardest monetary good. It’s the only asset in the universe with no counterparty risk and no dilution risk. Bitcoin is the World’s Safest Asset.
Read 10 tweets
6 Apr
1/ The April 14th @coinbase direct listing could ignite the next phase of the 2021 #Bitcoin bull run.
2/ Coinbase is set to float about 115M shares. A little less than half the total shares outstanding.

nasdaq.com/articles/coinb…
3/ The pre direct listing price per share is currently trading on @FTX_Official. It's just shy of $500 a share.

This would be a $125B valuation. $57.5B of which will be publicly traded on the day of the direct listing.
Read 8 tweets

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