02 Feb Hedge Funds are nothing – remember the Central Banks
As someone that’s been involved in bitcoin for almost a decade now, watching the WSB drama last week rekindled an old understanding in me.
I get the intention of WSB – the financial system is completely and utterly broken, and fighting it is good. Hedge funds are tiny little fish though, and the Bitcoin community had spent years fighting a war so much bigger than that. The war against Central Banking.
The scale is completely and utterly different. All the Hedge Funds in the entire world managed just over 3 trillion dollar’s worth of assets in 2019 – accumulated over many decades, in many countries.
The United State’s Federal Reserve created more than 3.4 trillion USD in 2020 alone.
Yes, one central bank printed in one year more money than is managed by all the hedge funds in the whole world.
This is what Bitcoin is up against. This is the scale of this war. And this is the war we’re here to win.