NYT
Quiet Part Out Loud
Geng Ngarmboonanant
Managing director at J.P. Morgan Asset Management. He served as a deputy chief of staff to Treasury Secretary Janet Yellen from 2023 to 2025. The views he expresses are his own.
Gold at 32 trillion total value: based on 220,000 metric tonnes of gold above ground, at a USD exchange rate of $4530
Historic average annual production of gold is 3000 metric tonnes per year. This will no doubt trend up if gold keeps riping.
Theoretically : If one takes a good size UTXO (2-3 million sats) and opens up lightening channel. Then spends it down over say 1-2 years on say coffee and beers......
What is the onchain footprint for this? What do chain-analizers see as it is spent down?
β Stay humble.
β Stack sats.
β Also, work to avoid force selling.
β Also produce value - this will be best longterm method to get sats....
The Fiat-BTC transition phase might last longer than we think