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Is it a bubble?

Is it a tech company? Is it a currency? Is it money?

In any event, it just keeps growing.

As of May 2025, its market cap rivals Google(Alphabet).

And for over a decade now, Bitcoin has continued a roller coaster ride up and down.

Look at these bumps.

Over the last four years, the average Bitcoin buyer has experienced price drops of up to 80%, and the daily price movement is anywhere from 5% to 10%, or even 20%.

If you were looking for a store of value, Bitcoin would be one of two things to you:

1. Rat poison (taken from the late Charlie Munger.

2. A long-term value play

So, which one is it?

The answer remains to be set in stone.

But, here’s how Bitcoin looks when you use the logarithmic scale (average change over time).

Despite the ups and downs, Bitcoin adds a zero every four years.

If Bitcoin is a bubble, it has been over a decade of gradual change over time.

As far as the its boom and bust cycles go…

They’ve been based more on the simple reduction in supply.

Every for years, the reward for mining Bitcoin gets cut in half.

So it costs more to acquire Bitcoin.

Bitcoin miner’s profit suffers…

Until demand catches up with supply. Then the price goes up.

Like in the Spring 2021, when retail investors went wild for Bitcoin as if it were Spring Break in Miami.

Euphoria was everywhere…

And everyone, their mom, and their taxi driver was looking for the next great alt-coin – the next big win.

Sorry to say that some people lost their life-savings on alt-coins like the Terra Luna alt-coin, which was supposed to be tethered to the USD.

As it turned out, it was a Ponzi.

(It’s own kind of Bubble.)

Then there was Sam Bankman-Fried who ran the Crypto Exchange, FTX.

In March 2024, he was sentenced to 25 years in prison for defrauding customers out of $11 Billion.

Financial mismanagement at his firm, and really, an out-right ponzi in some respects grew the companies bubble and valuation upwards. At its peak, FTX was valued at approximately $32 billion USD.

The company was started in 2019.

It only took three years.

Then it completely collapsed.

But Bitcoin…

Bitcoin has been going for over a decade.

And people have said it’s a bubble over, and over, and over again.

Yet, it keeps on growing.

And recently, it hit a new all-time-high of $112,000.

So far, as our Publisher, Mark Jeftovic likes to argue, “Nobody has ever lost money on Bitcoin in nominal terms who has held through for four years or longer.”

The longer we wait, Bitcoin is either one of two things.

It is either the longest, biggest bubble in history, or…

It is a whole new digital hard asset that will change the global economy forever.

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