#BITCOIN Read till end my Analysis… Buy BTC $BTC
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Bitcoin has been a hot topic in the news lately.
I don't typically post about things like this, but the more I've learned about Bitcoin, the more I see it as a new, transformative asset.
So I wanted to share a bit about my experience with Bitcoin.
When I first learned about Bitcoin in 2012, I thought it was an interesting project, but it was complicated, confusing, and I didn't see the real utility of it.
At that time, 1 Bitcoin was worth about $13.
5 years later in 2017, even more people I respect were talking about Bitcoin as a new form of currency that can easily be sent anywhere in the world quickly, affordably, and without involving banks or middlemen.
I was skeptical that Bitcoin would ever be used as an actual currency.
At that time, Bitcoin was worth about $5,000.
In 2019, I was shocked to see many of the people I follow on Twitter talking about the growing Bitcoin ecosystem, how people around the world were using Bitcoin to transact, without the downsides of the traditional financial ecosystem.
I just didn't see how Bitcoin wouldn't lose out to a better form of cryptocurrency, or a digital dollar.
At that time, 1 Bitcoin was worth about $11,000.
From 2021 to 2022, I watched the price of Bitcoin hit a new all-time high and then fall back down in value.
As the federal government continued devaluing the US dollar, causing inflation, I didn't understand why Bitcoin wasn't performing better if it was supposed to be a hard asset that provided a hedge against inflation.
At that time, 1 Bitcoin was worth about $16,000.
Last year, in 2023, although Bitcoin had fallen from its all-time high, I was searching for a hedge against the growing inflation of the US dollar and couldn't stop thinking about Bitcoin and what I was missing.
I finally did a deep dive and read as much as I could to try and understand how Bitcoin works and what I was missing.
As I read and learned more, my doubts and concerns about Bitcoin were answered, one by one.