Bitcoin Hits New All-Time High at $20,800

It really has been a while since I’ve watched CNBC. We don’t get it on cable in my area, so I mostly stick to Bloomberg, but one of my analysts convinced me to pay the $30. After all, why not?

The very first thing I heard was Jim Cramer taking a call from someone who wanted to inquire about a stock.

Ah, this is great content, right?! Not 10 seconds in, the lady mentioned that the company is building a product on the Ethereum network. At that very moment, Cramer stopped her short and said something like…

“Well, I’m gonna stop you right there. You know I’m a big fan of bitcoin and everyone who’s following me on Twitter knows I love bitcoin so I’m not really looking at any other cryptocurrencies.”

Wait…did you hear that the same as me??

As Dorothy from the Wizard of Oz put it, “I don’t think we’re in Kansas anymore Toto.”

Sure, we’re adding Cramer to the list, but the list just no longer seems practical. We’re now operating under the assumption that all major corporations, financial institutions and investment houses have their eyes squarely on Bitcoin and the crypto world.

They won’t all be maximalists like Cramer, who has blocked me on Twitter for no apparent reason, a behavior that’s quite typical of maximalists.

It’s no wonder they call that segment of the show the “Lightning Round.”

Jim Cramer

Anyway, the point is that the world’s attitude towards Bitcoin and crypto assets has done a 180 in the last three years.

As I write to you, Federal Reserve Chair Jerome Powell (Jay Pow) is holding a press conference, in which the central bank just announced that they will continue the extraordinary high level of quantitative easing until unemployment returns to normal levels.

So basically, they’ll just keep throwing money at the rich rather than at the problem itself.

It’s no wonder bitcoin rallied passed $20,000 today. The institutions have every reason to be FOMOing in right now.

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