Why the US won’t get a huge Strategic Bitcoin Reserve

…but it is likely to get a small one; plus macro clouds to watch

“It takes considerable knowledge just to realize the extent of your own ignorance.” – Thomas Sowell  ||  

Hi everyone! I hope you all had a great weekend. It’s a gorgeous Monday morning where I am, with crisp autumn air and blisteringly blue skies. Enjoying the view, appreciating the moment.

The content today is bit less cheerful, however, as I look at building market clouds, and why I think we won’t get a Strategic Bitcoin Reserve – unpopular on both fronts, I know, but hear me out. There is good news in there.

It’s a long one today - I will try to make them shorter the rest of the week!

IN THIS NEWSLETTER:

• Macro clouds to keep an eye on

• Why the US won’t get a huge Strategic Bitcoin Reserve (but it is likely to get a small one)

If you’re not a premium subscriber, I hope you’ll consider becoming one! You get ~daily commentary on markets, tokenization, regulation and other signs that crypto IS impacting the macro landscape. As well as audio, relevant links and music recommendations ‘cos why not.

WHAT I’M WATCHING:

Macro clouds to keep an eye on

I really don’t want to dampen anyone’s mood, but today I’m going to share three sets of macro indicators that I’m fretting over. For counterpoint, tomorrow I’ll focus on indicators that show risk appetite is healthy, and that the crypto bull run is still in an early phase.