There’s been some positive price action since the last post, up 14% in the last couple weeks! It seems like ETF inflows are driving the price upward despite global liquidity trending down since the start of the year. I like Lyn Alden’s take on global liquidity being highly correlated with bitcoin price action. Regardless, I’m thinking in a few years it won’t matter whether I stacked at $40k or at $50k.

Last week I was in the office and overheard a conversation happening right next to me (my desk is right next to an aisle). From the details I picked up these were more senior executives for the company, or at least higher level employees. They were greeting each other but then ended up chatting about cryptocurrency. “I’m so glad the company doesn’t get involved with it”, “I mean, people actually have to use it to for it to be a currency right??” Even with the Bitcoin ETFs receiving billions of inflows, hearing these executives in a fintech company laugh about “crypto” like it’s the butt of a joke makes me think we are still incredibly early. Maybe I’m biased from following this space since 2020, but I’m surprised by how little some people know about bitcoin in 2024.

In my opinion it’s a huge missed opportunity for the company to avoid R&D efforts into the bitcoin ecosystem, but I’m just a lowly engineer building out the projects on my team’s roadmap quarter by quarter. In the future I’m sure the company will come around and start integrating with the bitcoin network. Or maybe not. Either way I’m happy to receive my paycheck and smash buy BTC.

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Current BTC price: $49,501

New BTC buy: $1000 => 0.02004308 BTC

The Stacking Report stack: 0.04284304 BTC = $2120.77

USD performance: +6%