Selling STEEM? Are you nuts?

In their recent article titled "Bubble? Think Stocks and Real Estate, Not Bitcoin" The Cointelegraph tells us that crypto may not be as overvalued as many might have it.

Even after the rapid increase in price, the total market capitalization of all cryptocurrencies is dwarfed by other asset classes like equities, bonds, or real estate. A single company - Apple - commands five times the market capitalization of all cryptocurrencies in the world put together.

Indeed, the total market capitalization of the whole of crypto is still less than 1/5 of the capitalization of Apple. What's more, the relative percentage of world base money supply is still infinitesimal. Remember this post of mine from just a few short months ago, The Crypto Boom! Part 1: Keeping Perspective? Well, putting aside the approximate relative change of 0.1% , things are pretty much the same. 😄

There’s no significant change in the amount of that “unrestricted printing of fiat” either, and that means that the inflation threat is far from disappearing. In May, ZeroHedge reported on this from BofA:

BofA's Michael Hartnett noted that supersized central bank intervention which he dubbed a "liquidity supernova" is "the best explanation why global stocks & bonds both annualizing double-digit gains YTD despite Trump, Le Pen, China, macro..."

Just look at the chart from Citi!

Which brings me to STEEM.

If this is the financial backdrop of broad money supply that is starting to flood into the ultimate hedge against fiat debasement, that is to say, into a cryptocurrency composite that is still less than one third of a percent of that total composite broad based money supply, how in the world are you selling STEEM at these prices? Now, I can understand sophisticated investors playing short term moves to get some minor price improvement, but you whales who have an incredible price basis to begin with, my question to you is: are you nuts? Okay, if you’re just taking minor profits to buy your dream home, or to fix up the one you have, I guess we’ve got to enjoy some of the fruits of our labors, but if you’re cashing out hard, I can only shake my head and wish you the best of luck in finding another long term investment that beats STEEM. Finding something better than cutting edge crypto is not going to be an easy task, and the best of luck to you.

In finishing, I’ll just leave you one more long term view, this time of a logarithmic BTC chart tweeted by @ KRMA_0 yesterday with the following caption:

There is no coming back from kamehameha.

In log terms it doesn’t look like such a big run-up, until now, does it? And look at where it might go (and we're not the only people out there talking about 6 and 7 figure long term estimates either).

And where is STEEM going in the meantime?

Got to keep perspective. 😎

Good luck.

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@cryptographic