People always talk about the number of bitcoin buyers and how this is the central driver of demand. But they usually miss the secord order: it's the amount of BTC these buyers think they need.
When I first bought in 2014 I had the equivalent of my monthly salary, and it felt like A LOT. Today, the few friends of mine that have been interested enough to get some have around that level or much less. That's fine, great even! It's a start! But they still haven't made the leap to recognizing that Bitcoin is THE asset, it's THE savings device.
As a portion of my income, my BTC holdings is orders of magnitude higher now than when I got started. My current demand is equivalent to a few dozen of me in 2014.
THAT is where demand comes from. The slow, but sure, irreversible realization that Bitcoin is the hardest money ever, and why that matters. Massive increase in demand, but also of the type that doesn't panic sell.
gunson / Gunson
npub1a3…8kzd0
2023-04-11 20:11:02
Author Public Key
npub1a3qwr29jp90868tqeyt6tc4jcj4h4rv9cr6ug5f70nkux3wyf52sz8kzd0Published at
2023-04-11 20:11:02Event JSON
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"content": "People always talk about the number of bitcoin buyers and how this is the central driver of demand. But they usually miss the secord order: it's the amount of BTC these buyers think they need.\n\nWhen I first bought in 2014 I had the equivalent of my monthly salary, and it felt like A LOT. Today, the few friends of mine that have been interested enough to get some have around that level or much less. That's fine, great even! It's a start! But they still haven't made the leap to recognizing that Bitcoin is THE asset, it's THE savings device.\n\nAs a portion of my income, my BTC holdings is orders of magnitude higher now than when I got started. My current demand is equivalent to a few dozen of me in 2014.\n\nTHAT is where demand comes from. The slow, but sure, irreversible realization that Bitcoin is the hardest money ever, and why that matters. Massive increase in demand, but also of the type that doesn't panic sell.",
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