"People aren’t trading bitcoin, they’re accumulating more and more of it over time and holding it long term (aka, “stacking sats“). This is evident not only through the raw on-chain data and exchange flows, but also through consumer behavior." - Abhay Aluri
We aren't in the same world, nor the same phase of Bitcoin as we were in 2017. This bull run seems not to be fueled by retail speculation and wall street gamblers, but instead its entering a phase where its a truly legitimized, investment grade asset that is being used as a first layer money to hedge against the infrastructure of the financial system, as well as against the increasing volatility and devaluation seen across all fiat currency. Another great article from Bitcoin Magazine, by author Abhay Aluri, "Bitcoin 2017 v 2021: How This Bull Run is Different."
Check out the original article at the length below:
https://bitcoinmagazine.com/articles/bitcoin-2017-vs-2021-how-this-bull-run-is-different
Don't forget to check out the other articles by Abhay linked in this piece:
https://ryze.substack.com/p/bitcoin-as-the-ultimate-insurance
https://ryze.substack.com/p/money-printing-inflation-and-the
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http://swanbitcoin.com/guy
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Thanks to the amazing team over at BTCMedia and the LTBNetwork for sharing this show and don't forget to check out the Bitcoin2021 Conference and get your tickets if you haven't yet!! It's gonna be LiT!
https://b.tc/conference
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