I see a lot of institutional investors put a lot of emphasis on the "over-exuberance" of Bitcoin, yet little emphasis on the record levels of debt  the US government is maintaining year over year, debasing the US dollar.

So yes, perhaps we are nearing a bubble in traditional equity markets.  

But Bitcoin?  No, I think we are still early.

I see a lot of institutional investors put a lot of emphasis on the "over-exuberance" of Bitcoin, yet little emphasis on the record levels of debt  the US government is maintaining year over year, debasing the US dollar.

So yes, perhaps we are nearing a bubble in traditional equity markets.  

But Bitcoin?  No, I think we are still early.

https://www.oaktreecapital.com/insights/memo/on-bubble-watch