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This Is Not Investment Advice
Not discussing price in this report other than to state upfront in my view the exchange rate can absolutely impact adoption while leaving that concept hovering over the discussion. But what about adoption impacting the exchange rate?
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There is tons of data out on Bitcoin at this point to include data on adoption. I’m going to stick with and focus on the following from BitcoinMagazinePro.com:
Thoughts and observations:
Pretty clear in the above chart that growth in active addresses overall has rolled over and we have also lost the surge in addresses seen in the past with bullish price action . . . .
Yes in prior bull runs some of the address activity is the speculation itself but there are other Bitcoin pure activities “pulled up for the ride” . . . . . that trend seems to have changed since 2022 . . .
Obvious question is Why? . . . . could be many things introduction of AI, the distraction of other unnecessary tokens and ETFs, lack of extremely exuberant price movement, could be a variety of things blaming specific things or people at this point isn’t useful . . .
One consideration is to look at how the industry has positioned itself since 2022 . . . . . . . pulled into the DC world even more with FTX, SEC, and all the drama over the years . . . . so it is what it is . . . . but there was a major voluntary shift towards Wall St. and TradFi and of course the MAIN focus eventually became Treasury Cos . . . . . bottom line for a while it seemed and felt like the main and only purpose of the industry was to yammer about “buying Bitcoin” and “the infinite money loop” or whatever it was they claimed . . . . yes very productive to get over the hump with DC and Wall St. but what about . . . . you know . . . . . boring old Bitcoin tick tock block after block . . . . seems like the basics have been ignored . . .
My senses are very strongly guiding me towards a stance where the industry really needs to dig deep and re-orient around ding ding Bitcoin itself not the financial claims and dreams of some . . . . yes we will all always check the price . . . but what are we actually doing with it beyond that . . . .
Bitcoin has stuff and can do stuff maybe we should do that . . . . FOCUS on things that are only possibly because of Bitcoin and where Bitcoin solves the specific and/or broad problem and build out from there . . . . . capturing excess energy and converting to value (literally nothing else on Earth can do this so DO IT) . . . . . Lightning Network for near zero payment costs in industries where overall margins are eroded or killed by the processing fees themselves, fraud, chargebacks . . . . and I would add using BTC for rewards and many more credit cards on the market plus more because it is easy and simple and people understand it . . . .
Get actual usage up and focus on that while letting the markets sort themselves out . . . . by the time Global M2 starts trending up and sustaining it Bitcoin will have a much firmer foundation beneath it . . .
