Two Bitcoin Cycles Converge
...And what it means for the wage-earner
I will be the first to admit, when I first saw one of David Bailey’s earliest posts, about orange-pilling Trump, I thought, God Damn, this is ambitious, risky and and a long shot. SOB pulled it off. Of course DB will tell you, there was a massive team effort, as something of that magnitude always is. The result: Well you don’t have to look much past the price to see how Bitcoin has reacted.
Trumps re-election, combined with talks of a U.S. Strategic Bitcoin Reserve have triggered the start of a nation-state adoption cycle. This is significant, considering we only recently kicked off the institutional adoption cycle this January, with the approvals of the first U.S. Spot Bitcoin ETFs. This means we have two cycles now happening simultaneously. This prodigious bull case for Bitcoin, presently before us can not be overstated…not even by Samson Mow.
Common sense, and prior cycles would point to the institutional cycle having played out over the next several years, perhaps with the nation-state cycle starting after the next halving. We would expect to see Institutions learning the hard way, the opportunity costs of trying to trade Bitcoin and timing the market, the perils of shitcoining a.k.a investing in Alt tokens and cryptocurrencies, and even a few learning about the importance of joint custody or choosing the right custodian, the hard way. Each Bitcoin cycle, has been demonstrative of new strata of society finally pushing beyond the decade+ long, negative news blitz by the mainstream media. A media which highlighted all that went wrong in "crypto" (much or all having nothing to do with Bitcoin), projected the voices of Bitcoin skeptics (many of whom turned out to be stacking Bitcoin and preparing for institutional adoption while dissuading working Americans from buying and holding Bitcoin). But each cycle, new adopters have pushed passed the deceptive narrative, finally learning for themselves the truths and genesis story of a monumental and world-changing innovation.
Now that the early rumblings of a nation-state adoption cycle may be upon us, as the institutional cycle continues to unfold, the game theory and potential upside of Bitcoin have unchartered ceilings. Basically, we can’t really fathom what Bitcoin is capable of, if nation-states and the institutions that form the backbone of private wealth start dueling for a limited supply of 21 million, in ways like a public-private partnership, to relentlessly stack bitcoin. However, it’s not a partnership, it’s a game of brinkmanship, as to who can stack the most digital scarcity.
What does this mean for you the wage-earner? It means this…the next 10 years will be incredibly bullish with excellent returns for those holding bitcoin. And, while you may feel as if you have not been now or in the future able to stack a meaningful amount of bitcoin, I genuinely believe the winners of the next decade will be those who hold onto as much as their bitcoin as possible.. Imagine the holder with 1 bitcoin vs someone with 10 bitcoin. The 1 coin holder looks at the 10 coin holder, thinking, “well, I’ll never get to that point.” And what I’m saying is, with what’s on the table in the next 10 years, you may not have to. Don’t worry about the bitcoin you don’t have, and focus on the bitcoin you do have. From trying to trade bitcoin, to finding ways to leverage, to failing to keep up with self-custody, to selling bitcoin at prices that falsely appear to be the high, people shall be separated from their bitcoin over this next decade. The thesis remains the same. Stay humble, stack sats, and Hold on for Dear Life!
Im going to ramp up my writing and try to provide more meaningful content, targeted towards the wage-earner, the every day worker. It’s why Proof of Workforce was started in the first place. Looking forward to the great work and opportunities ahead. Speaking of, if you are in or know anyone in a union in New York, Proof of Workforce is planning something epic early next year. Stay tuned for more details.