Recap on the state of Bitcoin and why this is the worst time to be bearish

Quick Recap on the current State of Bitcoin 2024:

• Spot ETFs launched and Larry Fink and other mega firms are now incentivized by number go up for fee revenue. Total net inflows of ETFs so far is $17B+
• Two Presidential candidates just spoke at the Bitcoin Conference saying they would implement strategic reserves for the USA. The freaking USA! That alone should make you panic and start buying, because if that becomes a reality, other countries will have zero choice but to buy. This catalyst could potentially kick off in a matter of months, don’t be too late on this.
• One of the largest wealth advisors Morgan Stanley just approved their Financial Advisors to market the Bitcoin ETFs to their High Net Worth clients. Others will absolutely follow suit now.
• Cantor Fitzgerald says they own “a shit load” of Bitcoin. We can’t really grasp the importance they will play in developing this market, it is very significant. Cantor Fitzgerald is one of 24 primary dealers that are authorized to trade US government securities with the Federal Reserve Bank of New York.
• VanEck CEO says he has 30% of his personal funds in BTC. So the heads of financial firms are concluding this is the best investment they can make in significant size? Take note.
• Saylor and MicroStrategy submit for a $2B ATM, wonder what for?
• Semler Scientific announces a Bitcoin Treasury and submits an S-3 for $200M in funding to buy Bitcoin. They will not be the last one, these will start ramping up now.
• Jamie Dimon changes his tune on Bitcoin after being a staunch detractor for years.
• Mt. Gox distributions are nearing their end.
• El Salvador continues their 1 Bitcoin per day quest.
• Banks continue to seek approval to custody and offer Bitcoin products to their clients.
• Fiat currencies globally, including those of some of the top economies in the world, continue their paths to debasement and ultimately, hyper inflation.
• The DCA crowd continues automatically stacking sats and reducing the number of Bitcoin available for purchase. Tick tock, supply shock.
• Global M2 Money supply increasing and broke out of the current range.

But sure, let’s start getting bearish now that the number went down a bit.

We can’t possibly be bullish enough for what is on the way. The most powerful people and entities in the world have entered the game and they tend not to take losing positions. Your only job is to stack sats and sit on your hands. It’s really going to be that easy, don’t get cute now and start playing games.

HODL.

PS: Credit to BenWerkman on Twitter/X for the original post.