why BTC pumped

everyone has their own theory

this is mine

before the BTC ETFs, that was no "easy" and "good enough" way for participants (institutions included) to hold crypto after purchasing it 

many crypto exchanges have gone bankrupt over the years

storing your own coins involves understanding how private-public keypairs are generated, and unfortunately, that is above the intelligence and brain energy committment of most casual people, and also a big problem in institutional settings regarding responsibility, ownership and continuity

custody solutions really only came about last cycle and even then, so many also blew up lol

this upward pricing of BTC is actually this entire risk premia disappearing with the emergence of ETFs

if you bought BTC under $50k and still own it, you got in when risks were high for all the above reasons and more, and your reward for that is that you're in at "low" costs and you can book nice returns whenever you decide to cash out

 

post $50k, that is the price to come in to play with the newer, child friendly, de-risked version of BTC

it is ultra pathetic to see "intellectuals" in the year 2024 using arguments from circa 2016 against bitcoin and cryptocurrency 

my first reaction is anger and disgust at such ignorance

but now i just smirk and laugh it off

why is it my problem that these people want to scam themselves into staying poor?

me debating them is nothing compared to being haunted that they probably got not one, but at least two or more chances to make generational wealth, but they were too busy preaching the gospel of having fun staying poor

i end with a very famous quote from a famous man that was once asked why BTC was pumping

One of the fastest ways to dox yourself as a cryptopleb is to ask "what's the reason for the Bitcoin pump today." 

Its path to $1m+ is preordained. On any given day it needs no reasons.

inshallah