Record-high Bakkt Bitcoin delivery exposes institutional frenzy for BTC – Bakkt is one of the main platforms to gauge institutional interest. They settle their trades in physical Bitcoin contracts; meaning the actual coins are taken off the market. If you listen to the noise and get caught up in short-term price action, you’re not going to have a good time. Over the next few months I have feeling things are about to get extremely interesting. No one wants to be first into Bitcoin & no one certainly wants to be last. Micro-strategy have already set the standard when they purchased 40k Bitcoin for their reserve balance sheet. Inflation & currency devaluation isn’t going away; it will only continue to get worse. You know other companies are seriously considering Bitcoin as a reserve asset behind closed doors. All these conversions take time, but they can’t wait too long – no doubt another company is having the exact same conversation. A race has began, the FOMO is only just beginning.
There’s a reason the big money is mainly interested in Bitcoin, they understand digital scarcity. Every single person running a node enforces the rules of 21 million supply. Currently, the cost and incentive to run an ETH node is not viable. You simply do not truly know the supply of ETH, or what it will change to in the future. In fact, the supply for all alt coins can be changed by an individual or small group of people. For this reason it is absolutely imperative you own as much of the 21 million Bitcoin as you can. I highly doubt it’s going to be dethroned as the digital gold at this point. The Lightning network will mostly likely be the digital currency layer built on top it. Why wouldn’t you want to use a currency built on top of the most robust network!? Bitcoin isn’t a company, it’s a protocol. Bitcoin isn’t the Myspace to FB. It has a network effect of unstoppable force. Every metric continues to grow by the day.
187,000 BTC Drained: Over $2 Billion in Bitcoin Leave the Top Exchanges Since June – This is another trend I’m noticing. There’s less and less Bitcoin available on exchanges – This is incredibly bullish. It just proves Bitcoin’s scarcity narrative; the supply is literally running out. Also more & more people are starting to take control of the funds. Self-sovereignty is the future. Having complete control of your money has a lot of power, however it does come with responsibility & discipline. Get yourself a node & hardware wallet, transact through open-source reputable software. I used to Bitcoin all wrong – I’ve seen the light. It’s extremely important.
On a side note: when your government tries to take custody of your Bitcoin (Like in China) and give you their tokenized shit-coin-fiat-currency in exchange, don’t let them. Bitcoin actually fixes most of the world’s issues; if you bend the knee & give them your coins, you’re just allowing them to continue committing the crimes that got us in this situation. Don’t allow them to digitize all the same problems we’re facing. Say no to central bank digital currencies, they will only continue to take your money & human rights. Bitcoin is our one and probably only shot of a much better future. Personally, I’m confident Bitcoin is strong enough to withstand state actors, however we need to make it as hard as possible.
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