We are so Back ... in 2021! - Part 1
Major Contra alert!
We are still “only” in “amber alert” when it comes to “Max Stupid”.
I have a high bar before I wave the “Red Alert” sign but this market really tempts me…
Over the weekend, while the “tradfi” investors (new-age word for boomers) were relaxing, the crypto degens were busy and added $100bn to the global market cap for crypto to bring it to $2.4 trillion. They also ran up Pepe-coin to $3 bn (a casual 4x-bagger in a week) and they created a new monkey coin called Retardo, just to make it obvious who their target audience is!
Remember the shrubstack “Save the Ponzis, Save the Plebs”?, which basically said that Tamagotchi Yellen will pump Ponzis to the moon in order to save the Plebs’ jobs in a re-election cycle? Well, what better Ponzi is there than Crypto?
A close friend, once he read that piece, pinged me and said that the article made him super-bullish crypto. I’m not that smart, but I’m glad my readers are!
Crypto has now reached a $2.4 trillion market cap, adding more than $1 trillion in 6 months. The 2021 top was $3 trillion. So at least we have an aspirational target before we call it “Max Stupid”!
I’m surprised there hasn’t been a Tamagotchi-Coin yet, as tribute to the true Crypto-Queen. These crypto degens are either clueless or ungrateful!
I shall maintain the disciple of a monk and not sound the Red Alert just yet.
Instead, I shall further reminisce and compare 2021 with 2024 and see where I get to. They do look awfully similar :/
