Scott Bessent · Bitcoin · Apple · Fortune Technology
Bond traders believe Bessent’s ‘band-aid’ was ‘a heinous financial crime’
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Over four decades, Steve Hanke has pursued a worldwide quest to tame the hyperinflation that so frequently ravages developing nations.
Key facts
- Bitcoin, the OG cryptocurrency, has spent much of the past year in a long, humiliating decline from its all-time high of around $126,000 down to the low-$60,000 range, where it has remained for most
- He told Fortune’s Shawn Tully he puts the odds of passage at 50% to 80%
- BTC has gained 23% in the past five days and is up 19% this month
- Stocks have left 60/40 in the dust after nearly two decades of equity market gains and a struggling fixed income market since the post-COVID inflation surge,” the group said in an email
Summary
The 60/40 portfolio, RIP. Tim Cook added $32 million per hour to Apple’s market cap, every single hour of his 15-year tenure. The professor of applied economics at Johns Hopkins University has advised governments across three continents—whether achieving straight “dollarization” or establishing Hong Kong-like currency boards that fix their monies to the greenback. Now, the “Money Doctor” is making the most important house call of his career.