One-Year Comparisons

Early in the year, my prediction was that Bitcoin would be the top performing asset class. As you can see below, Bitcoin (represented by the Grayscale Bitcoin Trust “GBTC”), crushed the competition.

Gold (GLD) was in second position, and then it gets interesting. The line below that is actually two indexes, the Standard & Poor’s 500 (SPY) and the NASDAQ (QQQ). It is virtually identical. If anyone doubts that the so-called “Magnificent Seven” of large cap tech stocks are driving everything in the “stock market”, wake up.

The last two are also interesting. The TLT represents the 20-year Treasury bond, and the TBT focuses on the same, but short. Those patterns make no sense in a period of rising interest rates. The TBT should be on top and the TLT on the bottom. Again, if you don’t believe the Treasury bond market is being manipulated, you are hopelessly out of touch with reality.