Bitcoin edges $100k

The degenerates and crypto-maxis have been out in full force since the election and it’s looking possible that Bitcoin surpasses $100k for the first time today.

There’s rumors that Trump is toiling with the idea of creating a crypto head in the White House and he’s looking to buy his own crypto exchange too.Whether he believes or even understands blockchain technology at all is to be determined, but one thing is certain and that he’s looking to at least profit off it.

I have been long Bitcoin and Ethereum for over 6 years at this point. I bought into crypto for the first time after the crash in 2018 and have mainly just been in a buy and hold pattern.

Nowadays, we’re seeing that stablecoins are becoming a staple in the U.S. with Stripe now accepting payments in stablecoins. There are a ton of other crypto uses cases that have yet to materialize though and the idea of web3 has not taken hold.

The expected easing of regulations around crypto will hopefully provide a needed boost to actual uses cases. There are real people and companies who believe in the technology and are not just in crypto for the payday.

However, degenerates will degenerate. Volatility will be high as everyone decides to become a day trader and the scams will continue to be rampant.

For me, nothing will change. I will continue to hold bitcoin and ethereum as I have the last years. I will continue to be on the lookout for great use cases. Now with a kid, I’ll sit out the majority of the degenerate trading though.