Had to go from 95% net worth invested in Bitcoin -> 15% about 2 weeks ago.
A lot of the confidence I had, vanished, once I stopped listening to podcasts with Bitcoin authority figures and started to research on my own.
The reason I made the move is that I am pretty sure Bitcoin is going to become Gold.
Based on my research, the masses embracing Bitcoin as a medium of exchange over stablecoins/CBDCs is a very remote probability.
This doesn't mean that Bitcoin is not going to go up in fiat terms of course. I still think there are massive fiat gains to be made in Bitcoin.
I'll be a buyer on draw-downs of 45-55% from ATH, and seller during "clarity" (e.g. policy, liquidity, etc.) spikes.
For me, Bitcoin went from being Hope to being a hedge against "The Great Taking" type scenario and a niche, permissionless MoE.
If you are unfamiliar with the book "The Great Taking":
- The book describes what Webb calls "The Great Taking" - a systematic, global seizure of all collateralized assets through legal, technological, and financial mechanisms. In other words, you don't own the stuff in your brokerage account.
- This is enabled by the laws in every country in the World (they were changed recently to allow for this global seizure type scenario).
Of course, if this happens, then Bitcoin and Gold get revalued much higher overnight.
Based on my research, the Controllers changed the laws for an edge case, this is not the base case type scenario.
If I have a reason to believe that the odds of Bitcoin as a mass MoE increase over time, I will scale back into it.
For now, Bitcoin is a dissident MoE, a Store of Value, and a "Great Taking" scenario type hedge, and I don't see this changing for the better any time soon.
More context on the post-ETF era:
More context on how permissionless technology ≠ permissionless adoption:
More context on how governments and large institutions are domesticating Bitcoin:
More context on what OG Bitcoiners don't understand:




