Friday's Crypto Liquidation Cleaned Out Every Stop Loss Order And Destroyed Anyone Who Was Overleveraged

By Eric Peters CIO of One River Asset Management

In the early 1960s our scientists and engineers managed to fit 100 transistors onto a silicon chip. In 1990 the Intel 80486 squeezed 1.2mm onto a chip. By Y2K, Intel’s Pentium 4 chip boasted 42mm transistors. Facebook launched in 2004, igniting the modern social media era. As the S&P 500 bottomed in 2009, Intel fit 731mm onto the Core i7, Facebook had 200mm active users. In 2013 when we started One River, the fastest chip had 4.31bln transistors. 12yrs later Nvidia released one with 208bln. Facebook now has 3.04bln active users.