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What an amazing presentation! Loved how @ravidharamshi77 brilliantly started off with global macros & capital markets, and then gradually migrated to Indian equities, summing up his thesis for a bull market case!
@MadhusudanKela @VQIndia @sameervq
My key learnings: ⬇️⬇️⬇️
First, the BEAR case:
1. Bitcoin has surpassed all the bubbles of the last 45 years in extent that includes Gold, Nikkei, dotcom bubble.
2. Cyclically adjusted PE ratio for S&P 500 almost at 1929 (The Great Depression) peaks, at highest levels except the dotcom crisis in 2000.
3. World market cap to GDP ratio presently at 124% vs last 5 years average of 92% & last 10 years average of 85%.
US market cap to GDP nearing 200%.
4. Bitcoin (as an asset class) has moved to the 3rd place in terms of price gains in preceding 3 years before peak (900%); 1st was Tulip bubble in 17th century (rising 2200%).
@MadhusudanKela @VQIndia @sameervq
My key learnings: ⬇️⬇️⬇️
Bubble or Bull Market? Join us for a short presentation and candid one on one on 27th Jan, 4pm with Shri \u2066@MadhusudanKela\u2069. \u2066@VQIndia\u2069 \u2066@sameervq\u2069 #bubbleorbullmarket pic.twitter.com/LBvlBrz6mS
— Ravi Dharamshi (@ravidharamshi77) January 24, 2021
First, the BEAR case:
1. Bitcoin has surpassed all the bubbles of the last 45 years in extent that includes Gold, Nikkei, dotcom bubble.
2. Cyclically adjusted PE ratio for S&P 500 almost at 1929 (The Great Depression) peaks, at highest levels except the dotcom crisis in 2000.
3. World market cap to GDP ratio presently at 124% vs last 5 years average of 92% & last 10 years average of 85%.
US market cap to GDP nearing 200%.
4. Bitcoin (as an asset class) has moved to the 3rd place in terms of price gains in preceding 3 years before peak (900%); 1st was Tulip bubble in 17th century (rising 2200%).
Feels like a good time to share my path from random person on the internet to @Coinbase to @1confirmation
Nothing special just curiosity and hustle which everyone has, it just needs to be unlocked
Coinbase is now a giant that's easy to hate on but started as an underdog just like every other startup. @brian_armstrong launched it by himself in June 2012
I got curious after reading his Hacker News post (https://t.co/t69Tz5E2Eb) and became one of the first users
Months earlier a @fredwilson post (https://t.co/wmu3WRuYCy) about BTC intrigued me and I made my first purchase by taking out cash from an ATM then going to a CVS to Moneygram it to Mt. Gox
Buying on https://t.co/lvwtxPqm8B was a huge improvement from that initial experience
Bitcoin wasn’t in high demand then so Brian sent "bitcents" to users 😂
Down the rabbit hole I went
July 2013: Cold emails ftw (this was one of many)
Nothing special just curiosity and hustle which everyone has, it just needs to be unlocked
Coinbase is now a giant that's easy to hate on but started as an underdog just like every other startup. @brian_armstrong launched it by himself in June 2012
I got curious after reading his Hacker News post (https://t.co/t69Tz5E2Eb) and became one of the first users
Months earlier a @fredwilson post (https://t.co/wmu3WRuYCy) about BTC intrigued me and I made my first purchase by taking out cash from an ATM then going to a CVS to Moneygram it to Mt. Gox
Buying on https://t.co/lvwtxPqm8B was a huge improvement from that initial experience
Bitcoin wasn’t in high demand then so Brian sent "bitcents" to users 😂
Down the rabbit hole I went
July 2013: Cold emails ftw (this was one of many)