My read of Jeff’s “don’t measure bitcoin in the piece of paper” is: lots of people stop there in their understanding of bitcoin and all they see is NGU.

That typically leads to thinking it’s ok to hold ETFs, playing leveraged games, and planning to one day sell back to USD.

After you’ve understood that bitcoin is the new base layer and you choose which system you contribute your time and energy to, then it doesn’t hurt to make note of the USD price from time to time, because you won’t be going back and you’re just observing the natural disorder that must occur during a phase change like this.