BTC is the first cryptocurrency introduced by Satoshi Nakamoto in 2008 with the aim of becoming the new currency for everyone in the internet age
[1]. Satoshi's expectation was that BTC would be used by everyone, but currently most people see BTC as an investment to store value. I do not object that everyone has the right to access BTC, the Bitcoin network belongs to everyone, everyone can create an account, store and move BTC... but perhaps the profit from BTC is not for everyone!
Looking at the history of BTC price: after each exciting uptrend, there is a harsh downtrend, BTC price has decreased from 77% to 93% compared to the previous peak, simply put, BTC price has dropped 4-10 times in the crypto winter. This is the difficult time created by the market to test the diamond hands of BTC holders, and also to reveal the anti-fans and challenge the faith of the strongest BTC supporters.
Michel Saylor is currently an extremely famous figure in the crypto world for helping MicroStrategy make a profit of over $6 billion from its 193K BTC budget, which has been continuously accumulated since 2020
[2], and for helping MSTR's stock price increase by over 800% in 3.5 years. However, Saylor is also the person who has been criticized and attacked by the media in 2022
[3].
Even more famous than Michal Saylor is Nayib Bukele - the president of El Salvador, the first country in the world to accept BTC as a legal tender alongside $US in 2021
[4]. Besides the huge benefits for El Salvador such as helping people access financial services without depending on banks, reducing transaction and remittance costs, attracting tourists and foreign investment..., the reserve of 2380 BTC from the policy of mining and DCA BTC has also helped El Salvador earn a profit of over 40%
[5]. However, we also cannot forget that in 2022, Nayib Bukele and the El Salvador government were criticized and attacked daily by large organizations to individuals in the market, from financial news sites to social networks and Youtube
[6]. I believe that Nayib Bukele has dared to risk his entire political career to bring El Salvador into the Bitcoin era, he is fully deserving of being re-elected president of El Salvador to contribute more in the next term
[7].
Nayib Bukele: “When Bitcoin’s market price was low, they wrote literally thousands of articles about our supposed losses. Now that Bitcoin’s market price is way up, if we were to sell, we would make a profit of over 40% (just from the market purchases), and our main source of BTC is now our citizenship program”.Similarly, large media outlets do not give up any opportunity to abuse BTC to attract readers. The New York Times is constantly updating news about the positive price movements of BTC recently
[8], but in 2022, in the midst of the crypto winter, they also posted an article talking about the correlation between crypto investment and the "dark tetrad" - a combination of narcissism, Machiavellianism, psychopathy, and sadism
[9].
This shows that it is not easy for investors in this market to keep faith and continue to invest in BTC, so the success and profits for BTC holders are completely deserved and not just luck! There is a joke in my country: "The best way to hold BTC is to go to jail", but I think even going to jail can't stop paper hands from selling BTC in the crypto winter.
For me, holding BTC is not a coincidence, it is a rational choice!I want to know your opinion on the success of BTC holders:
- Is the profit of BTC holders just from luck?
- Are you a BTC holder? What makes you keep believing and holding BTC?
- When will you hold BTC until?
References:[1]
Satoshi - Sirius emails 2009-2011[2]
MicroStrategy's Michael Saylor Made $1.2 Billion In 3 Days Following Bitcoin Boom[3]
Michael Saylor Bet Billions on Bitcoin and Lost[4]
El Salvador To Make Bitcoin Legal Tender: A Milestone In Monetary History[5]
El Salvador Bitcoin holdings hit record $164M as BTC profits pass $50M[6]
El Salvador’s bitcoin experiment: $60 million lost, $375 million spent, little to show so far[7]
Nayib Bukele re-elected as El Salvador president in landslide win[8]
New York Time: Bitcoin[9]
Bitcoin fans are psychopaths who don’t care about anyone, study shows
Note:- My opinion was posted first in that topic, on Bitcointalk
- I leave the source link to avoid plagiarism accusation.
- I excluded/ included minor things from an original thread if necessary.