We finally got there, at time of writing Bitcoin is trading over $100k USD for the first time ever across all major exchanges. In this newsletter I’m going to discuss what is driving the markets and how Microstrategy is buying up so much BTC.
📈 From Scam to Wall Street Darling In early 2023, Bitcoin was trading at $17,000, recovering from the FTX collapse and industry turmoil. Fast forward to December 2024, and institutional adoption has redefined its trajectory:
Let’s take a look at how they are buying up so much Bitcoin. 📊 MicroStrategy's Bitcoin Strategy MicroStrategy has become synonymous with it’s Bitcoin treasury strategy.
It raises capital through equity and debt, including zero-interest convertible notes.
📉 Where We Are In The Cycle Bitcoin’s four year cycles persists until proven otherwise. I’m perhaps the biggest proponent of a longer term supercycle but I don’t have conviction that we wont see hard times for the industry in the future as well.
I don’t know about you but I’m feeling pretty euphoric and this is the time of maximum risk in the markets. Can we go higher from here? Absolutely and I expect we will. But at some point it’ll come crashing down and the optimism around digital assets will rotate back to scepticism. Greed will turn to fear, there will be a rush to the exits and markets will tank. Proceed with caution and a healthy amount of pessimism. Bitcoin’s long term journey is far from over. As regulation evolves and institutional adoption grows, the market will mature, volatility will calm and it will become a safe have rather than a speculative asset. Something I’ve spoken about previously here:
Things are good, they wont always be. Let’s enjoy these rare moments ❤️
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