Ponzi Financing, Negative Interest Rates and Bitcoin, Part 2

In Part 1, we analyzed the Ponzi financing model, and further study the paradigm shift of the three financing models. Today, we discuss the investment logic of hedging and Ponzi, as well as the impact of negative interest rates on digital currencies such as Bitcoin. 3.Investment Logic of Hedging and Ponzi If we deduce further, we will find that these three financing models correspond to two kinds of investment logic: the logic of hedging and Ponzi respectively. The former pursues a more tangible and stable income, which comes from cash flow or interest. While the latter comes from the logic…...