I had the privilege of presenting at CoinDesk’s Bitcoin for Advisors conference earlier this week. The title of the session was “Global Macro Outlook and What It Means for Bitcoin”; needless to say I was happy to lend my thoughts. Below is a summary of my discussion points along with a copy of the short presentation, which I hope you find interesting or useful in your own way.
Global Macro Outlook and What It Means for Bitcoin
Slide 1: COVID-19 = Accelerant, NOT Root Cause
We’ve said time and again that COVID-19 served as an accelerant for several major headwinds we now face; it was NOT the root cause. Heading into 2020, advanced economies were already saddled with too much debt given their languishing growth outlook and the world was extremely vulnerable to any exogenous event that threatened to disrupt private sector revenue and cash flows.
Policymakers have been working (alb