Why The Road to $1 Million Bitcoin Just Got a Lot Shorter | Truth Block

Hurley (0:00)

Wall Street is moving billions into Bitcoin, and it's doing it while the bond market flashes a warning we haven't seen in more than 20 years. The 30-year treasury just hit its highest level since 2004, and this afternoon, the treasury was back buying up its own debt, trying to slow down a bond crisis that's starting to look like a full-blown debt spiral. So either this ends in a massive crash that takes everything down with it, or this economy is about to take off like a rocket. Which one is it? Today, I'll show you why both roads lead to the same debasement regime, and why all the trends and data point to Bitcoin starting a massive run about performance against gold. Plus, while all of this means the road to a million dollar Bitcoin just got a lot shorter. This is TruthBlock. I'm Hurley. Let's mine truth.

Bitcoin is sitting around $84,000 today after getting rejected at $87k. So we're seeing a bit of a pullback, but Bitcoin is still up 11% on the week, and still holding above its 50-week moving average. And it's doing that on a day when stocks and gold are both in the red. The reason for all of it is the bond market. The 30-year treasury is paying almost 5.5%, the highest since 2004 The treasury has been stepping up its bond buyback since August to try to calm it all down. It did it again this afternoon. And yields are still higher now than the day it started. And on top of that, inflation is running hot again. The prices American businesses are paying just rose at the fastest pace since 2022

Oil is back above $100 a barrel and the market is now betting on another Fed rate hike next month. I think there are really only two roads from here. And the first one is a major crash. Coth the Raven put out a piece this week titled Bonds are about to crash the stock market. In the piece, he laid out his case that when borrowing costs keep climbing, eventually something snaps. Especially with Wall Street carrying close to a record amount of borrowed money. But even he says the rescue only comes after the pain. And his answer for where this ends up is $10,000 gold. Hold on to that because I think he's only half right. The second road is the exact opposite. American businesses just posted their strongest growth in more than five years. And Jeff Ross looked at the same week and said the US economy is booming and that he's bullish. A booming economy sitting on top of a breaking bond market doesn't last very long.

Something's got to give. So which road is it? I don't think it matters nearly as much as everyone thinks. Jeffrey Gunlock laid out the trap this week. If the Fed hikes, the government's interest bill gets worse. And if it cuts, inflation gets worse. TXMC's reply was that both options make inflation worse. So buckle up and own hard assets. So let's walk both roads all the way to the end. If we crash, they rescue it with printed money.

If we boom, the deficits in the interest bill keep getting bigger. And that gets paid for with printed money too.

James Lavish posted this on Monday night. It's not a debasement trade, it's a debasement regime.

A trade is something you get in and out of. A regime is the world you live in until it ends.

And even some of the biggest gold bulls are starting to see where this goes. Luke Grohmann has been one of the loudest voices in the gold camp for years. And he sold most of his Bitcoin last year up around 95K. Listen to what he said this week.

Luke Grohmann (3:09)

I think the debasement trade is back on, which makes me want to buy gold, Bitcoin, silver, and just accumulate. Everything we talked about on the bond side tells us the dollar debasement trade is back on. Everything we're seeing is the dollar debasement trade is back on. I don't think it ever left. I think it was all narrative bull crap that they tried to get people to think it was off. But I think it's back on. And in that world, I think Bitcoin is your hardest asset. I think gold is second hardest. I think silver, you want to own some silver too, because silver has got the industrial kicker that we were just talking about.

It has the industrial kicker in terms of that demand and that unobtainium dynamic, right?

Hurley (3:47)

So Coth the Raven was half right. This does end at the printer. And hard money is where you want to be.