TL;DR

Despite volatility and institutional interest waxing and waning, true Bitcoin believers hold strong in their conviction that Bitcoin’s fundamentals, scarcity, and decentralized nature make it an unstoppable force that will inevitably rise in value over the long term, regardless of short-term market dynamics. Bitcoin represents a put option on the current financial system.

The Inevitability of Bitcoin’s Rise

In a world of rampant money printing, ballooning sovereign debt, and an increasingly shaky global financial system, Bitcoin stands tall as a beacon of monetary discipline and a put option on the current order. As governments around the world engage in a race to the bottom with their currencies, debasing them at unprecedented rates, the fixed supply and decentralized nature of Bitcoin offers a compelling alternative – an ark to escape the coming flood.

The Institutions Come Knocking

In recent months, we’ve seen a surge of interest in Bitcoin from institutional investors and major corporations. From MicroStrategy to Tesla, Square to PayPal, the big money is starting to wake up to Bitcoin’s potential. ETFs are launching, providing greater access and legitimacy in the eyes of traditional finance.

Some worry that this institutional adoption, the “financialization” of Bitcoin, poses a centralization risk. That if too much Bitcoin ends up concentrated in the hands of a few big players, it could undermine the decentralized ethos that makes it so powerful. Valid concerns, but ultimately exaggerated.

The Power of the HODLers

What the institutional tourists fail to grasp is the unwavering conviction of the Bitcoin faithful. These true believers, the HODLers, the cypherpunks and libertarians, they will not be shaken out by temporary volatility or swayed by corporate interests. They understand Bitcoin’s revolutionary potential on a fundamental level.

They know that Bitcoin, with its fixed supply cap of 21 million coins, is the hardest money the world has ever seen. They see a future where Bitcoin fulfills its destiny as a global reserve currency, with nation states and central banks holding it on their balance sheets.

Riding Out the Cycles

In the near term, Bitcoin’s price will continue to experience volatility, as it has throughout its history. There will be bubbles and corrections, fear and elation, as the market goes through its cycles. The institutions will FOMO in and then get scared out. Governments may try to crack down with regulations or bans (good luck with that).

But the HODLers will carry on, stacking sats and building for the future. Because they know that each bull market brings in a new wave of adopters, and the fundamental trajectory is up and to the right. Over a long enough timeframe, the fundamentals will win out.

An Idea Whose Time Has Come

So let the institutions play their games. Let the day traders try to time the market. The true believers will keep calm and HODL on, secure in the knowledge that they are on the right side of history.

Because Bitcoin isn’t just an asset or a trade. It’s a movement, a revolution, and an idea whose time has come. It represents a brighter future, one of monetary sovereignty, privacy, and individual freedom. And that’s something worth believing in.

Thank you for reading “The Inevitability of Bitcoin’s Rise“.

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Sources:

• The Bitcoin Standard by Saifedean Ammous
• Lyn Alden’s writings on Bitcoin
• Nassim Nicholas Taleb’s foreword to The Bitcoin Standard