Elation over Bitcoin Big Bangs for us Bitcoin believers who know BTC’s value is superior to that of fiat currencies

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It’s always exciting for a crypto enthusiast to shout it out at times like now when Bitcoin crosses its previous All Time High levels, and so yesterday I made a little Bitcoin ATH thread, announcing even if its known to all that BTC crossed $70,000$ mark which is over 5% above its previous ATH levels of Nov 2021, 67,000$.

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BTC Bull run at a time when interest rates for borrowers are high

Some may have expected this but not me, shrugs. Now is the time when Global fiat liquidity or money supply is lower with bank interest rates adjusted to high levels.
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Yes, remember the days not very long before when FED began increasing interest rates to remove money supply from the system to reduce inflation.

Well, BTC flies north despite the cost of borrowing being high, and there are less injections of money supply added into the economy.

BTC price surges triggered by demand for recently approved BTC ETF products

It’s true that this bull run, began when Bitcoin ETFs were approved by SEC this year. Institutional investors have indeed been purchasing these BTC ETFs bringing about increasing BTC inflows into these Bitcoin ETFs.

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BlackRock’s Bitcoin ETF, ishares Bitcoin Trust had over $6 billion inflows of BTC in the last 1 month.

So, these Wall Sheet, regulated companies are very much responsible for BTC's upward price surge.

Now, cumulative BTCs held on these regulated Bitcoin ETFs is about 4% of the circulating supply of Bitcoin, that’s quite a lot, and it’s just over 2 months since these US Bitcoin ETF products were launched.

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As expected MicroStrategy does more BTC shopping raising its BTC stash

Ofcourse, Bitcoin ETF issuing companies like Blackrock, Franklin Templeton, WisdomTree, Ark and others are not the only ones buying BTCs…

We have Michael Saylor making news raising over 800$ million dollars to buy Bitcoins by selling convertible debentures. MicroStrategy,
with Michael, in charge of its Bitcoin acquisition strategy purchases 12,000 BTC. Now, MicroStratergy’s BTC stash is over 200,000 BTC!!!

Little crypto fellows holding BTC too are lifted high in this Bitcoin BULL run

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For me, it’s nice to think of the retail investors also flying up with BTC’s rising prices.

Enjoy the bull run my dear friends!!

A class of Bitcoin enthusiasts who still marvel at BTC for being a digital currency that is immune from Government control

BTC has changed and evolved now, with it becoming the World’s 8th biggest asset, above the market cap of the silver metal!!

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Some Bitcoin holders are Bitcoin believers who still have the pride of owing an asset that cannot be controlled by the Government. BTC has been an idealogy for us symbolizing independence from control of the Government.

We believe that BTC empowers us to control our wealth with its value not manipulated by the monetary policies of the Government.

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BTC's Monetary Dynamics make it a superior currency to fiat Currencies

BTC supply has monetary dynamics to it, with it being a deflationary asset by design, as its issuance decreases with the halving event happening every 4 years. There being a hard cap of 21 Billion BTC, the asset is scarce like gold.

Therefore, as demand for BTC increases with its supply set to keep decreasing, the value of BTC remains supreme without dilution.

This is in contrast to Government controlled fiat currencies that are inflationary with Government increasing supply of money, diluting its value by printing fiat currency like there is a unlimited supply of that currency.

So, the purchasing power of fiat currency for the common person decreases year by year leading to their wealth erosion.

Bitcoin's allure shines as it did in the early days still!!

We have reasons to not trust Government getting control of our financial holdings and finances with them having the power to freeze bank accounts of anyone if they wish to!!

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Many banks too have failed to safekeep our deposits lending it to Corporates but not recovering these loans, leading to bad debts, and customers losing their savings kept in banks.

So, even now, there are Bitcoin enthusiasts who still feel the allure of BTC as when it was introduced by Satoshi Nakamoto.

The traditional Gold asset too begins to shine again with bull run vibes!!

BTC is the real digital gold for these Bitcoin believers, speaking of which even the GOLD asset class has crossed its previous all time high price levels!!

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In GOLD’s monthly chart, I see there is a CUP and Handle pattern too, so Gold bugs can enjoy some bull run brought about price appreciations.

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So, Peter Schiff should be happy too, but it will be interesting what that BTC critic would say when BTC manages to overtake Gold’s market capitalization some day!!

Bull Run for every asset class – Yipee!!!

This bull run is nice with even asset classes in traditional finance going up, with Nasdaq, S&P 500, and DJI having experienced price increases with their valuations going above their previous ATHs.

I wish all my crypto and investor community all the best to benefit from this bull run!! Good luck.

Posted Using InLeo Alpha

Posted Using InLeo Alpha