David Jacobs

Bitcoin is a volatile asset. It went from $0.01 to $126,000 in about 15 years. There were many 50-85% drawdowns along the way. Bitcoin has averaged a Global Financial Crisis every 18 months for the last decade. Yet bitcoiners continue to hold through all the noise. The blockchain produces block-after-block of transactions. And the critics take their “victory laps” during the drawdowns, only to get their faces ripped off a few months later in a bull market by the best performing asset since 2010. It is a story as old as time. Let the critics celebrate today. They will predict the death of bitcoin for the thousandth time. They will point and laugh at those who hold the asset. But secretly they know the truth. Their dollars will continue to devalue and bitcoin will appreciate over the long run. Scarcity never goes out of style.