฿ Bitcoin BTC/USD Daily Video, December 10, 2020

soul rebel

Gone are the days of ridiculing Bitcoin as a ponzi scheme or tulip mania, with BlackRock CEO Larry Fink stating that Bitcoin is a threat to the USD's status as the global reserve currency - this is big news.

For anyone interested in the topic I highly recommend Saifedean Ammous's The Bitcoin Standard - The decentralised alternative to central banking, a book that the author himself thought would only be read within the crypto community - is now being read by the billionaire class world over.

Bloomberg's Mike McGlone has commented: "Is Bitcoin replacing Gold? Futures and fund flows are saying yes - rising futures open interest and investor inflows in Bitcoin vs. the same declining for gold indicate the cryptocurrency gaining an edge for price appreciation, in our view."

Another interesting point, this time by legendary Paul Tudor Jones when interviewed on the topic is regarding the nature of typical hedge investments, which he calls bets on the fallacy of mankind. Contrary to that method, he notes that Bitcoin is more of a bet on human ingenuity.

I'm encouraged now that Bitcoins' simplicity, authenticity, integrity and immutability are finally being recognised by the mainstream.