Kent

There are two groups holding Bitcoin, those view it as risk asset, and those view it as store of value. When market go down, the first group sell their Bitcoin, hence the correlation. But when the first group sold all their coins and the second group keep buying more due to better price, Bitcoin stop being correlated, and goes up even when market is down. That's why im the short term, it behaves like a risk asset, but in the long term, like a safe haven asset. Over time, the second group grows and the first group shrinks. When everyone is converted to the second group, Bitcoin stops correlating with stock market and behave like safe haven asset only. #bitcoin

I finally decided to go nostr only, gonna delete all my X accounts.

I am a Bitcoin maximalist, I think Ethereum is a shitcoin, but I still have some ETH in a MetaMask wallet, so that I can send and receive USDT. Why? Even though I firmly believe all fiat and all shitcoins are going to ZERO comparing to Bitcoin, I still need some USD for my day-to-day expenses (Yes, of course, USD is also a shitcoin) until we hyperbitcoinize the world or until I migrate to El Salvador. And even though ETH and USDT are centralized, censored, stupid, it's still better than a bank account that at least I don't need to KYC myself, that at least I can transact 24/7 and not wait for 3 business days for the transfer to settle. I also think by rebalancing a small amount to BTC to USDT (1%~5%), you are less affected by the price fluctuation of BTC and may actually be able to HODL BTC longer term, because you would not be forced to sell your BTC at the very bottom and can spend your USDT instead when you are short of fiat.