Thank You for Reading!
On this day six years ago, the systemic bliss website was born out of a curiosity and thirst for knowledge in finance as well as technology and their role in society as a bridge to both perilous or promising outcomes. I am immensely grateful for all of the readers around the world, followers online, and supporters over the years. It cannot be left unsaid that the critics and skeptics haven’t served me well for motivation too that helped me craft my arguments and shape my thinking for the better. It has been a wild ride through it all, especially as bitcoin has just flown past $60,000 making new highs after first calling that price target out here back in January 2019! Our twitter handle is now 7 years old today as well, showing how long I’ve been keeping tabs on this fast moving space to keep a living record of the daily happenings in the world of bitcoin and crypto assets. If social media is not really your cup of tea these days, the newsletter maybe better suited to follow along for news, market commentary, and occasionally some memes on a more periodic basis than the blog and less frequent than all of the daily tweets with the benefit of being able to get it in a neat message directly sent to your inbox.
Where We’ve Been
On the inception day March 14, 2014, bitcoin was trading in the $600 range and tumbled over the next year to trading in the $200 range for that same day 2015. Pi day in 2016 was not much higher with BTC was in the $400 range. In 2017 on March 14, bitcoin was trading higher in the $1,200 range. The fourth anniversary was eventful with BTC above $9,000 in 2018 after having gone parabolic its first time in the months leading up to it. March 14, 2019 bitcoin was trading just below $4,000. On pi day in 2020, BTC was just above $5,000 after seeing a selloff sparked by the Corona Correction. The photo above was from bitcoin pizza day on May 22, 2020 when it was worth about $9,000. Today, bitcoin at the time of this writing is over $60,000!
Where We’re Going
Inflation is coming. If that can’t be tamed though, the Fed may need to avoid disastrous hyper-inflation by raising interest rates at the cost of ending the bull market that could possibly leach selling pressures into the bitcoin and crypto markets. Either route though still appears to present BTC as the strongest candidate for an asset that can effectively take the whipsaw and still make it as a store-of-value in the financial universe of infinite debt and money. Given the adoption of bitcoin by savvy Ivy League endowments, sophisticated investors as well as institutions, and the distinguished Wall Street banks, it has the greatest chance of repricing the world as the digital and global reserve currency. Ethereum and its competitors have been rewarded with outsized returns over the past year and their performance is rational given the greater risk of being regulated possibly being deemed as securities or failing to launch and/or scale at the rate they hope. All in all, together they will likely be critical components of a optimally diversified portfolio that continues to be the best performing asset class in the past decade as well as this next one.
What You Can Do
Stack satoshis! Earn bitcoin back through the Fold app and their credit card or BlockFi’s, who also can help you generate interest on your existing bitcoin or crypto holdings. Dollar-cost-averaging with money that you are willing to lose has always been the most recommended entry into BTC by the bitcoin community generally. River Financial and Swan Bitcoin are both great venues that have wonderful features as well as slick user interfaces that make it easy to securely buy and sell BTC-only without high fees or agile orderbooks. Nothing compares to taking bitcoin offline into cold storage, so to give yourself the most control and security over your funds it may be wise to look into hardware wallets or custody solutions to securely hold your own private keys. I have no interest or relationship in any of the companies mentioned, they are just solid businesses that are reputable and widely used in the bitcoin community.
Why You Should Stack
Its time to “get off zero,” the oppurtunity has not past you by for your chance to buy bitcoin. “Unit bias” is a common misconception that keeps most people from owning the best and leading crypto asset, bitcoin. Just because the current price of a bitcoin may be greater than you have to invest, it doesn’t mean that it’s not possible to start with smaller units like satoshis to start getting your stack up to that full bitcoin or the number that suits you. Remember, the bitcoin pizza will always only have 21 million slices and each one of those contains 100 million satoshis. Not all crypto assets are built the same, the size of the pie may not be fixed and the chefs (developers) may not always have your interest or satisfaction in mind. Don’t be fooled into thinking that because you can buy more slices of another crypto asset it will make that just as good, successful, or valuable as bitcoin.
Happy Pi Day! Grab a slice ASAP and enjoy the ride with systemic bliss.