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It burns everywhere. The decade cheap money policy has created an ocean of debts. They are long being due until now.
Don't be shocked if all assets depreciated suddenly 😂. You cannot pay off debts, and hope assets continue appreciating. Or would you 😈?
With the ocean of credit pushed into the economy during the COVID-induced financial crisis, it bet to free debt in the short term to survive the economic shock. However, the shock wave is more prolonged than the Fed expected the inflation impact with multiple other issues going around the world.
The Fed has been charged with credit supply to control economic expansion and contraction. However, since we live under the free market to adjust credit flow, we are still facing a century-old problem of credit contraction due to financial crisis. It means there always has an issue of how much money we will have to cover the future spending and also being able to pay off debts (even though we don't have to) 😑.
Since the 2021 cryptocurrency hype, we have had new bagholders - institutional investors 🤭.
Bitcoin provides additional credit even though many experts have argued that Bitcoin has no fundamental value.
Bitcoin is very liquidity and very easy to convert into cash.
It does not have to be a store of value but a new flow of cash that ease the burden from the Fed to provide additional liquidity to impact the economy on a large scale.
The market may benefit from holding Bitcoin, and the price level has been stable while the stock market is volatile.