The current fires in LA, and the complete burning of a huge number of luxury homes, is a bad event overall, but how can it affect crypto? Simple. 🧵🪡

Imagine a bank burned down where money was stored, money burned down, well no big deal, we'll print more. 

With #BTC the main and very popular hedge instrument now obviously can't do that, and there were a bunch of millionaires houses who could just not sweat it and keep the money on a cosh with a note in the safe, and now all that is gone.

All like the stories where a man threw a hard drive into a landfill by mistake and is still trying to dig it up and let the authorities pore over it. He lost the trial the other day, by the way.
#BTC