In 2017 it took ~9 months for #Bitcoin to go from $1k to $20k. The block subsidy was 12.5, there was a lot more BTC sloshing around on exchanges, mining was boiling the oceans, and there was zero institutional money coming in.
$1k to $20k is 20x.
$50k to $1M is 20x.
It has come to my attention that there are some #Bitcoiners that don’t think #Bitcoin can reach $1,000,000 in a matter of days/weeks after ETF money starts to flow in. They’re in for a pleasant surprise.
Before we run it back turbo, here’s a reminder that @elonmusk sold 75% of Tesla’s #Bitcoin holdings at $30k.
Good thing they limited their losses for one quarter. /s
I find diagrams like these offensive both for #Bitcoin and the Internet. Imagine thinking the next evolution of the web is a bunch of pump and dump scams. Historians will look back and have a good laugh.
Don’t be surprised when #Bitcoin goes to $1 million post spot ETF approval. Market cap doesn’t increase linearly ($1 BTC buy doesn’t make market cap go up $1), there’s a multiplier effect.
Even if the ETF approval news today was premature, the approval will happen and #Bitcoin will see a massive green candle. It’s just a matter of time. Enjoy cheap sats while you can.
Freezing bank accounts
Printing money
Quantitative easing
Quantitative tightening
Raising rates
Increasing debt
Abolishing income tax
They’re pulling on all the levers of the legacy system with a desperation never seen before. Failure is imminent.
Buy #Bitcoin. Opt out.