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BREAKING: US Money Market Funds Hit $6.2T and Suddenly Everyone Remembers They’re Still Broke Because Bitcoin Is a Thing Now

A stylized illustration featuring a massive money bag overflowing with dollar bills and coins in the foreground, while a smaller image of a rocket ship blasting off into space is seen rising above it. The background is filled with swirling patterns of green and blue hues to represent growth and stability.

The never-ending saga of gullible investors throwing their money at a glorified Ponzi scheme continues. As US money market funds reach new heights of $6.2T, the crypto bros are salivating at the prospect of Bitcoin’s next ‘breakout’ price surge. Because what could possibly go wrong with investing in something that has no inherent value and is just numbers on a computer created from thin air? The interest rate cut expectations may indeed invite more institutional investment, but let’s be real, it’ll only serve to line the pockets of crypto scammers and fuel their get-rich-quick schemes. Meanwhile, Jemima Kelly over at FT Alphaville would probably have something witty to say about this if she were writing today – perhaps a phrase like ‘the more things change, the more they stay the same’ or ‘crypto’s perpetual motion machine of hype’. Stay tuned for more!.

Source: cointelegraph

United States money market funds have reached a new all-time high, and Bitcoin may be poised for its own record-breaking price surge. Total investments in US money market funds have hit a new all-time high of over $6.2 trillion, mainly driven by the expectations of an upcoming interest rate cut, according to the Kobeissi Letter, which wrote in an Aug. 25 X post: Net inflows into US money market funds. […]

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