GRANTGILLIAM on Nostr: GM TEN31 TIMESTAMP 843,004 Consumer sentiment deteriorated sharply this week – even ...
GM
TEN31 TIMESTAMP 843,004
Consumer sentiment deteriorated sharply this week – even as stock indices pushed back near all-time highs once again – as jobless claims jumped, credit card delinquencies continued to pile up, and forward inflation expectations increased. Meanwhile, noteworthy battle lines appear to be forming in Washington, as the US House of Representatives voted to overturn a rule preventing banks from custodying bitcoin – an interesting development as quarterly 13F filings show growing institutional exposure to bitcoin ETFs – only for that vote to be immediately met with the threat of a veto from President Biden. Shortly thereafter, Republican Presidential candidate Donald Trump made his latest set of pro-“crypto” comments to a crowd of supporters, highlighting what appears to be an increasingly partisan divide over bitcoin and other cryptocurrencies. While we take no view on any particular candidate and are generally skeptical of most political posturing related to bitcoin, it’s notable that this debate is a talking point at all on the national stage – particularly after over a decade of weekly bitcoin obituaries – and we wouldn’t be surprised to see this political division intensify heading into the 2024 Presidential election, particularly if the average American continues to become more financially stressed…
https://www.ten31timestamp.com/p/ten31-timestamp-843004
TEN31 TIMESTAMP 843,004
Consumer sentiment deteriorated sharply this week – even as stock indices pushed back near all-time highs once again – as jobless claims jumped, credit card delinquencies continued to pile up, and forward inflation expectations increased. Meanwhile, noteworthy battle lines appear to be forming in Washington, as the US House of Representatives voted to overturn a rule preventing banks from custodying bitcoin – an interesting development as quarterly 13F filings show growing institutional exposure to bitcoin ETFs – only for that vote to be immediately met with the threat of a veto from President Biden. Shortly thereafter, Republican Presidential candidate Donald Trump made his latest set of pro-“crypto” comments to a crowd of supporters, highlighting what appears to be an increasingly partisan divide over bitcoin and other cryptocurrencies. While we take no view on any particular candidate and are generally skeptical of most political posturing related to bitcoin, it’s notable that this debate is a talking point at all on the national stage – particularly after over a decade of weekly bitcoin obituaries – and we wouldn’t be surprised to see this political division intensify heading into the 2024 Presidential election, particularly if the average American continues to become more financially stressed…
https://www.ten31timestamp.com/p/ten31-timestamp-843004