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Here’s the original caption for this excellent chart (posted by [@Ra89Capital] on X):

“Make no mistake, it [Bitcoin] hasn’t done jack f*cking shit in years vs real money.”

My take:

1️⃣Use the right denominator.

Any serious financial comparison needs a sound unit of account — not a fiat currency that steadily loses purchasing power (including the USD 💵).

2️⃣Frustration is real.

What might be counterintuitive, people who understand point #1 have been disappointed with Bitcoin’s performance in recent years. Sentiment in Bitcoin circles isn’t great 🤦‍♂️⛈️— and the chart captures why.

3️⃣Bitcoin vs. gold.

Holding Bitcoin has still beaten holding gold:

🔸Physical gold is easy to confiscate🫳💰;

Bitcoin isn’t🫳🖕.

🔸Gold ☎️faces existential risk from Bitcoin — its digital successor📱.

🔸Bitcoin is ~10x smaller than gold and adopting much faster, which leaves more room for sharp upside🚀. It may take patience😴, but the asymmetry remains.

If you’d like this and much more explained in plain, no-jargon language, drop your email on my site — I’ll let you know when my book “Broken Prices”📖 is out.

It will make concepts like “the right denominator” feel simple and intuitive.

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