NEVER seen anything like this
Bitcoin was just once the plaything of idealistic coders and some tinkerers holed up in some basement somewhere has somehow made its way onto the polished trading floors of Wall Street. The same place or should I say institutions and experts that once dismissed it as vaporware now court it. It’s held by tech-savvy teenagers from 3rd world countries, government treasuries in El Salvador, miners in Kazakhstan, and yes, by Tesla, the company that sells electric dreams.
I'm no expert but Bitcoin doesn’t move to the rhythm of earnings reports or corporate fundamentals. It dances to the beat of FOMO, Fear of Missing Out and is powered more by narrative than numbers. There’s no dividend, no quarterly payout, no board meeting. Just code, speculation, and an unshakable belief that this strange digital entity might just be the future.
And yet, despite the early mockery, despite the skepticism, it keeps outperforming. Oil has sputtered. The dollar fluctuates with every Fed whisper. Equities ride the rollercoaster of recession fears and economic forecasts. Bonds barely breathe. But Bitcoin? It rises, falls, rises again and somehow still pulls ahead, which further reinforces the saying value resides where men say it resides.
A rebellion turned asset class. A joke that no one’s laughing at anymore. It has basically revolutionized finance and economics.