Why do you think Bitcoin was able to reach $69,000 in late 2021, 1,507 days ago with only retail tail winds?
And why has it only appreciated ~28% since the 2021 ATH? With all of these tail winds….
- Changes to the FASB fair accounting rules. This was a major development for institutional Bitcoin investors.
- The announcement of a Bitcoin strategic reserve in the USA.
- The announcement of the Pakistani strategic reserve.
- Saudi Arabia and the UAE accumulating Bitcoin en masse.
- China mining and accumulating Bitcoin en masse.
- The ability to allocate towards Bitcoin in Superannuation type retirement / 401K funds across the globe in multiple countries.
- Blackrock offering the IBIT BTC ETF and subsequently mopping up ~770,000 Bitcoin as of today
- Strategy accumulating a record amount of Bitcoin to the tune of 671,000
- XX1 announcing its ability to be publicly traded with an initial balance of 43,500 Bitcoin.
- Record amounts of Bitcoin being drained from exchanges over the past year.
- Fidelity, Grayscale, ARK, Bitwise and all the other smaller ETF players accumulating ~530,000 Bitcoin.
- Matathon mining accumulating 50,000 Bitcoin.
- Metaplanet accumulating 30,000 Bitcoin.
- Record amounts of Bitcoin podcasts and Bitcoin only content online.
- The proliferation of NOSTR.
- The strengthening and expanding of Bitcoin credit providers like LEDN and Block Earner.
- Record amounts of favourable legislation towards Bitcoin in the US 🇺🇸
- An exponential Exohash mining increase going from 170 in late 2021 to 1,100 in 2025. An almost 6x in computing power within the Bitcoin mining sector.
- An accelerated under performance of altcoins with record outflows of capital from shit coins to Bitcoin over the last 5 years.
- Stocks, property, gold, silver and every other asset pumping and reaching new ATHs daily. There is plenty of money out in the ether.
And after all of that, Bitcoin has barely managed a 27% return since its 2021 peak over 4 years ago???
$69,000 to $87,000 with all the above factored is a woeful underperformance - especially over a 1,507 day time period.
When 50% CAGR? When the end of 27% returns over 1,507 day time periods.
Why Bitcoin podcasters always use copium math and measure from post FTX blow up (16k) to ATH (126k)? Why they use hopium math / girl math to make a woefully underperforming asset look good? When we stop putting lipstick 💄 on the pig 🐷?
#asknostr
