"Everything Wrong" With Bitcoin Pizza Day

There's a lot going on lately in the financial markets, and it feels more like the winner's curse as we get further up towards the peak of the cycle. Almost everyone will look like a genius in a couple of months from now. Whoever was in crypto back in 2017 knows that during the final stages of the bull market, no matter what you bought, it would 2X-3X in a couple of days or weeks.

We aren't there yet, but this is about to come true. NVIDIA is showing the way for the blow-off top in the markets, and despite what the masses are starting to think (that AI and technology will create insane abundance for all of us in the coming years), I'd say that the era of abundance for everyone is far from happening any time soon, if ever.

Bitcoin has completed its correction, and sooner than later, it will enter price discovery. ETH is about to have its first spot ETF approved in the US, probably by the 25th of this month, and when that happens, expect ETH to go ballistic and altcoins to follow.

Yesterday, plenty of crypto people celebrated Bitcoin Pizza Day. Many years ago, when BTC was probably just a few cents, some dude offered to pay 10,000 BTC to whoever bought him two large pizzas. His offer was accepted by some other dude on the internet, the order was forwarded to Papa John's pizza, and one dude got his stomach full while the other filled his pocket with 10,000 BTC.

Now there are plenty of maxis who criticize the Hungarian guy who spent 10,000 BTC for two pizzas. The maxis are always into calculating how much these 10,000 BTC would be worth at the moment and what a chad this guy would be if he had not sold his 10,000 BTC until today. How many people do you know who have owned Bitcoin since it was mere dollars or cents?

I personally don't know anyone who's done that. It is easy to look back and think about how things would change if one had held a certain asset over the course of a decade or so. At that time, actually, Bitcoin was not even considered an asset; it was mostly looked at as a currency.

I bet you 90% of crypto people can't handle a 10X on their portfolios without shitting their pants, and very rare are the cases of investors who buy at the very bottom and hold all the way to the top. All coins in existence are going through different hands from bottom to top, and most of the ones who are rushing to judge the dude who spent 10,000 BTC for two pizzas are probably top buyers.

HODLing is hard, and the mass adoption of crypto will take time. Very few on the internet are talking about HBD and HIVE and how those two are being used in Cuba and some other countries as means of exchange. From what I saw on Hive yesterday, there were some people buying pizza with HBD and HIVE. Will they regret selling their HIVE for pizza?

I don't know, but to me, these are pioneers of what mass adoption for crypto should be like. I don't blame that guy for spending 10,000 BTC for two pizzas back in 2009 or whenever that thing was. I am pretty much paving the same way with crypto. Have a great one, peeps, and I hope you enjoyed Bitcoin Pizza Day.

Thanks for your attention,
Adrian