TechFlow news, on September 6, Joe Burnett, Strategic Director of bitcoin treasury company Semler Scientific, posted on X stating that the market is currently at the end of the long-term debt cycle described by Ray Dalio, meaning equities are being bid up to extreme valuations, real estate is being aggressively overvalued, and fixed-income products are also at extreme valuation levels. The ultimate outcome of the long-term debt cycle is fiat currency devaluation; the only exit is hard money—gold was the hardest currency in the past, while bitcoin is the hardest currency today, and bitcoin may completely disrupt all asset classes.
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