Dear Reader, Back in 2012, ex-Goldman Sachs executive Raoul Pal saw something that many others didn’t. He called it: ‘[A] new, anti-fragile financial system that doesn’t break in times of stress.’ He was, of course, referring to cryptocurrencies. Nine years later, Pal was able to back up this statement as crypto went through its most important stress test yet. At first, it looked like the bubble was about to burst. The entire crypto market was crashing, most tokens fell by 70%, and US$1.02 trillion of value was wiped out. But unlike the 2008 financial crisis… There was no big bankruptcy, no Fed bail outs, and no open-ended losses. Crypto eventually recovered, the system didn’t break, and the financial world was business as usual. It was a testament to the design of Bitcoin’s mysterious creator, Satoshi Nakamoto. That wasn’t the end of it, though. Recently, crypto encountered another potentially fatal setback as China clamped down on its Bitcoin [BTC] miners, shutting down 75% of global BTC mining activity. But rather than stop bitcoin dead in its tracks… …China’s actions gave it even more momentum as BTC hit an all-time high of US$66,975 just a few months later. And if you understand the reason why, you can position yourself to benefit nicely. Cheers, Ryan Dinse,
Editor, New Money Investor | 
