My RHR is about the same. But my HRV is way behind.

Nice summary. I would also add that Bitcoin is a social movement and belief system. It is now becoming widely accepted globally. Its adoption cannot be stopped.

Stablecoin is going to be bullish for dollar at the expense of other fiats. And, any fiat issuer better be backed by Bitcoin, not gold which will be replaced by Bitcoin.

There is a Bitcoin migration going on now, from retail individuals to institutions, weak hands to strong hands, speculators to investors, east to west. This migration started from Jan 2024 when Bitcoin was introduced. It will continue for a while. Just be patient.

This list under estimates the significance of a Bitcoin. In terms of impact on human society, only printing press can be compared to Bitcoin. Printing press realized the separation of religion and state. Bitcoin will realize the separation of money and state.

A sociologist who understands social movements and the spread of religion.

China and India bet on silver at the time. This time, almost all major central banks bet on gold.

People used to love Nokia and Blackberry phones, but they later all had to migrate to an Android and IOS phone.

Expect other Bitcoin treasury companies follow suite quickly. Liquidity thus flows to such companies faster than flowing to central banks buying gold. BTC goes up faster than gold.

I just noticed the age difference between guests who appear on podcasts talking about gold and Bitcoin. It makes me feel good and reassuring.

Bitcoin is going through migration, from individuals to institutions, from east to west, from speculators to investors, from anonymous addresses to real names. This migration will continue to other types of institutions and it will continue for at least several years.

Agreed. But in spite of this, central banks will stretch to make gold work also a payment mechanism. They will probably form some alliance to make sure members do not cheat with their gold holdings. The underlining transaction technology will, however, be still centralized.

Bitcoin is migrating from early adopters to current buyers, from east to west, from retail to institutions, from speculators to investors. Year 2020/21 is roughly the division line.

These are the possible reasons sellers are selling: 1, Expect Bitcoin price going down; 2, Other better investment opportunities; 3, Need cash; 4, Unknown black swan events. Except No.4, all other reasons are VERY positive for holders as illustrated by the article.

I am sure that it did not cost 3.69 cents to mint a penny at the beginning. Also, if you take into consideration of the advancement of technology, the cost should have been dramatically reduced.

Because of the regulatory support in US, individual Bitcoin holders in US will increase significantly starting from 2026. The capital per capita they bring to Bitcoin will also increase.