Bitcoin and the Election

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Short one today, you are amazing. Thank you for reading and listening.

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So, obviously things are crazy in the USA with a heavily contested Election.

Meanwhile, Bitcoin has been going absolutely crazy.

It’s up about $2,000 in the past 3 days…

The question is, why is that?

I would argue that it’s because of all the reasons I wrote about in this letter (The 10 Reasons I Invest in Bitcoin) -> https://thekaleletter.substack.com/p/why-i-invest-in-bitcoin-in-plain

It also may be, very specifically, because some “BIG DOGS” are getting into the space.

I think this tweet and reply summarizes it well…

In summary, it seems like some REALLY large companies, individuals, or even INVESTMENT FUNDS are buying HUGE amounts of Bitcoin every day…

And then stopping in the evening so that they don’t accelerate the price TOO high…

So that they can buy more tomorrow…

REMEMBER…

Michael Saylor (the CEO of Microstrategy) OPENLY revealed that he was buying 50M dollars a DAY and the price wasn’t even moving.

So the fact that the price is running 500-$1000 a DAY means that a large fish INDEED is buying.

So what does this mean for the average investor?

Honestly, nothing has really changed.

There will always be people who say “I’ll wait for a dip before buying in”.

Unfortunately, those people tend to get their faces melted off.

No, not literally.

I just mean that they keep on waiting for a dip and the Bitcoin price just keeps on running away from them.

My strategy from the beginning has been to accumulate dollars through entrepreneurship, and then funnel those dollars (when I don’t need to reinvest them in the biz) into a vehicle like Bitcoin.

I’m just here to write this letter and keep you updated daily :)

What you do with your money is up to you!

Kale