Like Never Before

I have vivid images in my mind from the 2018-2020 era, during that awful bear market when most of the so-called crypto gurus were saying that coins not backed by fundamentals wouldn’t pump in the following bull market and that an institutional wave of adoption was right around the corner.

These guys were half right and half wrong. On one hand, we’ve seen that all sorts of shitcoins can outperform fundamentally driven projects, both in the previous bull market and now. On the other hand, we've also witnessed the institutional adoption for crypto we've been waiting on for so long.

When it comes to institutional adoption, part of me knows it's all bullshit and we don’t actually need it. But at the same time, if it weren’t for ETFs, we wouldn't have seen BTC hit a new all-time high before the halving. Price-wise, those pricks matter, but when it comes to building a new world—one fueled by decentralized systems and true ownership and governance—we don’t need BlackRock.

Still, BlackRock has turned extremely bullish over the past year. I guess its famous AI bot, Aladdin, told them it’s time to get into Bitcoin.

BlackRock says Bitcoin could be a "hedge against increasing global disorder and declining trust in governments, banks, and fiat currencies." This popped into my feed recently, and honestly, I’m not surprised. JPM Chase was totally against BTC just a few years ago, and now they have exposure to BTC through ETFs.

It’s not just institutional players turning positive on crypto—Donald Trump has jumped on the bandwagon too. He just announced the launch of WorldLibertyFi for September 16 this year. In his ad, he promises a platform that will leave behind old banks and outdated financial institutions. What exactly it will do is beyond my knowledge.

I doubt it’ll replace the dollar though. You and I both know Trump is for the dollar—a strong dollar—and not against it. This move, like the NFTs he pushed, feels more like campaign propaganda to me.

That doesn’t mean we should ignore the attention crypto is getting right now. But we also shouldn’t focus too much on political events when analyzing crypto and building for the future. Crypto is apolitical. It was designed that way, and there’s no getting around it.

Bitcoin has been in a bull market since late 2022, and in my view, the four-year cycle is in play—no matter who gets elected in November or what global events happen. We’re moving forward, but it’s funny how those who were bashing crypto just a few years ago are now trying to get a piece of the pie. Everyone buys Bitcoin at the price they deserve, though...

Thanks for your attention,
Adrian