Crypto's going crazy again!

[Jamo]

Fascinating timeline!

What's your take on the "BTC Treasury" idea that the new US administration may launch in 2025?

Lots of chatter that other countries may do something similar.

A number of countries already hold Bitcoin, the U.S. has the most currently (check https://bitcointreasuries.net). It's inevitable in my opinion. The U.S. simply formalising their holding (which they actually stole) as a reserve would speed up global adoption. Actively adding to the reserve would be extremely bullish, but has a much lower chance of happening. Will be interesting to watch but I'm not holding my breath haha.

[captainspoke]

@adamu I agree. While someone saying two or more years ago to invest in bitcoin--and who now feels validated--there are a couple things right there that have done far better. And those two things would be taxed at ~20%, and not the higher rate here for bitcoin (given that you might really be cashing in).

The S&P500 in that chart is the red line along the bottom, only up ~68% over those 26 months. And something broader than that should be the core/majority of anyone's everything.

[adamu]

@adamu I agree. While someone saying two or more years ago to invest in bitcoin--and who now feels validated--there are a couple things right there that have done far better.

Ah, to be clear I was pointing out that Nvidia and Palantir are also riding a tech bubble - the AI one.

But then what do I know, we're probably in a gold bubble too. Who really values a lump of metal?

[captainspoke]

Well, the value of all the above ground gold dwarfs the value of bitcoin, about $18T to $2T.

*
Bubble or not, I'm not the one to call that. But if (bitcoin) people really had insight into the workings of the market, why weren't they also aware that Nvidia and Palantir were going to leave bitcoin in the dust?

Any true market savant should have sold all their bitcoin and bought those.

[beanhead]

Any true market savant should have sold all their bitcoin and bought those.

those = gold dwarfs?

[TJKansai]

But then what do I know, we're probably in a gold bubble too. Who really values a lump of metal?

People who like flash jewelry

[adamu]

People who like flash jewelry

Is that why they melt most of it down and keep it in dark rooms?

[ChapInTokyo]

@adamu I agree. While someone saying two or more years ago to invest in bitcoin--and who now feels validated--there are a couple things right there that have done far better.

Who really values a lump of metal?

Gollum?