The Hivemind explains why fixing America’s finances could be bearish for crypto. “The U.S. getting its house in order is kind of the bear case for crypto. But that’s never going to happen.”

crypto’s most reliable tailwind being fiscal dysfunction is a grim thesis

The US getting its house in order is kind of the bullish case for the entire global economy, and a well fed world is good for crypto.

Nếu Mỹ thực sự cắt giảm thâm hụt, lãi suất trái phiếu giảm, dòng tiền rời khỏi BTC tìm về tài sản truyền thống sinh lời an toàn hơn.

The bear case for crypto is the US fixing its finances. So your whole position is a bet on deficits.

The premise only holds if crypto's core use case is hedging against institutional failure. That framing already concedes the space has no product-market fit in functioning economies.