Bitcoin is a 13-year-old young’un who’s already seen a lot. It was born in the woke of one of the worst financial crisis in modern history, and it has already survived a global pandemic and the 2017-2018 craze-turned-chaos, the first (of many) crypto frenzies that nearly broke the system and killed the market. But it didn’t. And now there’s a war.
Naysayers and ‘status-quoers‘ (is that even a word? Whatever I just made it up) will continue to cherry-pick data and timeframes to support their narrative that bitcoin is useless. But it doesn’t matter. They can stay away from it if they don’t like it, I’ll buy it.
Bitcoin has been called a currency, an asset, a fad, a scam, a hedge against inflation. It has been called many things but the only thing that’s proven to be true beyond recourse and objection, so far, is that bitcoin is essentially a technology that’s completely immune to opinion. It doesn’t do what you want it to do, and more to the point, it is immune to FIAT. In other words, it is immune to “because-I-said-so’ dynamics that rule the world.
The ongoing tensions aren’t helping, and the fact that social media and legacy media outlets make a mountain out of a mole hill isn’t either (generally speaking). I realise and understand that many will panic-sell and liquidate their positions to “get out while we still can”. But they’re wrong.
This is another important stress test for bitcoin, but it isn’t first, and it won’t be the last, and it isn’t the worst.
Please note: I don’t wish to downplay nor magnify the situation but I only talk about crypto, not geopolitics. If you’re reading this, I hope you are safe and happy.
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