Chris 🏴󠁧󠁒󠁷󠁬󠁳󠁿

Breaking: Bitcoin Has Not Hit All-Time High Since 2017

Very interesting πŸ€” bitcoin has not hit an all-time high since 2017 when you account for the money supply!

Expect πŸŽ‡ and πŸš€ when the true value of btc is recognised!

Aka big ATHs in terms of USD & M1

Bitcoin: Accounting for the Money SupplyBitcoin: Accounting for the Money Supply

You can take a glass half-full or half-empty approach.

Half-full:

2021 bull run run did not exceed 2017 high (accounting for M1).

Greater adoption, knowledge, and understanding of Bitcoin… on top of QE restart = πŸ’₯ in BTC price

Half-empty:

Bitcoin hasn’t made any significant gains since 2017

(accounting for M1).

The USD has just been debasing causing risk-assets to go higher

Either way, bitcoin solves this!

Adoption & growth = btc πŸŒ™

Hedge against USD debasement = btc πŸŒ™

All credit to @intocryptoverse

This post is based on this twitter thread.

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