Monday, August 30th 2021 - Issue #1066

Bitcoin is holding steady at the #6 base money in the world

It's that time of the quarter again; Matthew Mežinskis from the Crypto Voices podcast (which focuses on bitcoin) has released the Q2 2021 monetary base update. As always, the thread is incredibly thorough and filled with incredible detail about the current state of global base monies. Right now, bitcoin is holding steady as the sixth largest base money on the planet (when gold and silver are taken out of consideration, seventh when they are considered), which is exactly where it stood at the end of Q1 this year.

While it didn't climb up the list at all, it is very encouraging to see bitcoin holding strong in the top ten. Normalizing itself as a force that is here to be reckoned with and respected on the global stage. Despite a ~20% decline in price between the end of Q1 and Q2, the newest base money held its ground. Even as central banks and governments around the world continued to print insane amounts of money.

The global monetary base is almost 5x what it was in 2008. The amount of monetary units that have been produced ex-nihilo equate to almost $24 TRILLION USD. It doubled between 2008 and 2011 and then again between 2011 and 2020, jumping from $6T to $12T and then $12T to $24T. It is currently approaching $28T with some authority.

Ask yourselves, freaks. Have prices materially changed since 2008? Are your energy costs, food bills, healthcare costs, education costs and other expenses more than they were in 2008? Do you think that maybe this ungodly expansion of the global monetary base had any affect on those prices? Want to be able to opt-out of forced time theft via price inflation driven by the expansion of monetary bases around the world?

Bitcoin provides that opportunity. You should take advantage of it. On top of that, you should tell others about the lifeline they have available to them.

I'll be recording an episode of Tales from the Crypt with Matthew tomorrow morning to discuss this report. Be on the lookout for that.

Final thought...

Thunder storms and screen doors.

Share

Forward

Hope you enjoyed today's issue. If you have any friends that are looking to find out more about Bitcoin have them sign up for this newsletter here:

Get Ƀent

Ƀent noun 1. direction taken, as by one's interests; inclination.

Thanks for reading Marty's Ƀent, a daily newsletter containing all the information I found interesting in the Bitcoin world in the last 24 hours.

Marty's Ƀent - August 30th, 2021 - Issue #1066

Bitcoin is holding steady at the #6 base money in the world

Older messages

Marty's Ƀent - August 27th, 2021 - Issue #1065

Marty's Ƀent - August 26th, 2021 - Issue #1064

Marty's Ƀent - August 25th, 2021 - Issue #1063

Marty's Ƀent - August 24th, 2021 - Issue #1062

Marty's Ƀent - August 23rd, 2021 - Issue #1061

You Might Also Like

Analyst predicts low inflows for Hong Kong’s newly approved Bitcoin, Ethereum ETFs

Bitcoin’s 4th Halving

Chinese Top VC Discuss Controversial Topics: Is AI+Crypto and Bitcoin L2 Just Hype? Is Binance Too Monopolistic?

Hong Kong approves Bitcoin and Ethereum ETFs as US lingers on ETH approval

Nine questions and answers about the Hong Kong Bitcoin and Ethereum Spot ETF

Crypto Market Pulse Weekly - 🇦🇪 Crypto.com Dubai Receives Operational Approval; Bitcoin Dominance Reaches 3-Year…

New LONDON Token Proposed By Mayoral Candidate Brian Rose

From DEXs to NFTs: Charting Solana’s trailblazing year in DeFi

Asia's weekly TOP10 crypto news (Apr 8 to Apr 14)

Bitcoin’s crash to $64k causes meltdown for alts