The USD has lost 96% of its value since 1913.
The CAD has lost 96% of its value since 1915.
The EUR has lost 44% of its value since 1999.
Bitcoin has had an average annual growth of about 200% since 2009.
source

Are you not entertained? Really? Not at all? Well, no matter how you perceive BTC in comparison to fiat currencies, there is a clear victor in this ongoing race that began roughly 14 years ago. The king of internet money has outperformed nearly every asset of the century.

But wait, isn't Bitcoin a scam? And won't we see another bull market given the poor state of economies worldwide, inflation, war, and so on? These are valid reasons to stay out of crypto if your plan is to remain on the sidelines and watch BTC and its cohort of altcoins once again surpass their all-time highs, leaving the legacy financial system in the dust.

As for when Bitcoin will reach its 2021 all-time high, I'm not equipped to provide an exact answer, but one thing is certain: we will witness new highs for BTC and many of the altcoins out there. It might happen a year from now, or two, or perhaps just a few months away. Nonetheless, we are headed there.

However, if you pay attention to market sentiment, you'll notice that the masses are currently in disbelief. We've witnessed a commendable rally for BTC, from the lowest point at $15,000 in November 2022 to $32,000. At present, BTC is consolidating around the $27,000 mark, having recently caught the bears off guard by briefly dipping below $25,000.

Once again, good luck holding onto cash in the next couple of years while BTC executes its familiar dance when the bull market kicks off, leaving nothing but dust and the lingering scent of burned bears.

If you've been closely following the crypto world for the past five years or so, as I have, you'd have noticed the changing official narrative of some of the largest investment funds and banks concerning Bitcoin.

Deutsche Bank, for instance, dismissed it as a scam back in 2018 but announced just a few weeks/months ago that it intends to obtain a license for Bitcoin and crypto custody services. Meanwhile, "Japan's $500B banking giant Nomura has launched a 'Bitcoin Adoption Fund' for institutional investors," and BlackRock is making significant bets on BTC.

Barely two years ago, BlackRock's CEO, Larry Fink, labeled Bitcoin a "fraudulent scam." Most in the crypto space are probably aware that BlackRock has already submitted its application for a Bitcoin spot ETF. While the SEC, led by Garry Gensler, has shown clear signs of resistance toward the crypto industry, BlackRock boasts a 99% approval rate for various financial products.

What do you think will happen with their Bitcoin spot ETF application? Will it be "rejected"?

BlackRock, alongside other investment funds entering the Bitcoin and crypto realm, may not necessarily align with the core values we cherish in this space, as the distribution of Bitcoin will become even more centralized than it already is. If memory serves me right, BlackRock manages around $8 trillion in assets.

Even if they allocate just a few billion of these funds to Bitcoin, a significant number of coins will end up in the hands of a company that owns a substantial share of almost everything in the world, alongside Vanguard.

I once heard a theory—I can't vouch for its accuracy—that many homebuyers lost their chance to acquire their dream homes because a mysterious buyer swooped in with a slightly better offer, buying the property instead. Rumor had it that these buyers aimed to have BlackRock monopolize the real estate market. Do you think they'll be less aggressive with Bitcoin?

Larry Fink made a bold statement a few weeks ago in an interview, likening Bitcoin to digital gold. That's a statement worth pondering. If you research the gold chart "before and after" the approval of its first spot ETF, you'll see that the parabolic rise in gold prices occurred after the spot ETF's approval.

What if the same unfolds for Bitcoin? But here's the catch: what are the masses doing? They're scared, doubtful, and in disbelief. I'm just an ordinary person with plenty of opinions; you should not take any financial advice from me. However, one crucial lesson I've learned in my six years in crypto is this: always bet against the crowd, because the masses are almost always wrong.

Thanks for your attention,
Adrian