S&P500-BTC almost back in line pic.twitter.com/tghGylc4q5— PlanB (@100trillionUSD) July 14, 2022
Yup, I forget sometimes that not everybody is here from 2019 or before. This is just ~10 years of S7P500 on x-axis versus BTC on y-axis. S&P from $1K to $4K (4x) and BTC from $10 to $10K (1000x). Just a visual, nothing more nothing less. IMO it's spectacular.— PlanB (@100trillionUSD) July 14, 2022
In a July 11 tweet, PlanB had explained that inflation was the reason why Bitcoin came into being in the first place, as Finbold pointed out. He wrote that “inflation is always and everywhere a monetary phenomenon” caused by central banks degrading currencies by printing more money.
Meanwhile, Mark Mobius, the founder of asset management firm Mobius Capital Partners stressed there was a strong correlation between the activities of Bitcoin and the S&P 500, describing it as “a tail wagging the dog. You see, Bitcoin goes down, and the S&P 500 goes down. So it's a very unusual situation.”
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