Is the ‘Still Early’ Narrative for Bitcoin and Crypto Dead?
Main Idea
Bitcoin has evolved into a major global asset, surpassing many large companies and being integrated into traditional finance, indicating that the early phase of cryptocurrency is over.
Key Points
1. Bitcoin is now larger than Meta, silver, and Berkshire Hathaway in terms of market value.
2. Wall Street has embraced Bitcoin with asset managers launching ETFs and large companies accumulating it.
3. Governments like El Salvador have started adding Bitcoin to their reserve assets.
4. The cryptocurrency market, including BTC, ETH, and XRP, reached over $4 trillion at its peak in July.
5. A popular YouTuber noted that Bitcoin is no longer in its early phase and investors should study the industry rather than rely on luck.
Description
The cryptocurrency industry has grown exponentially since its initial stage, when only bitcoin existed, when it was difficult to purchase a single one, even though it cost cents and mere dollars. It has also grown massively since the first altcoins appeared, but it was still hard to find a place to accumulate some. In the following decade or so, though, early bird crypto investors used every big price movement as an opportunity to insist that “we are still early.” And, in most cases, they were r...
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