Many bitcoiners are butt hurt to see gold going parabolic.
Zoom out, bitcoin has performed exceptionally well so far this decade and will continue to do so.
Gold is having its day because governments are falling back to what they know as the dollar reserve system comes into question.
China is setting up a parallel settlement network using gold and it's using gold because it's been reliable for millennia and, more importantly, has the liquidity profile to settle the size they need to settle if they're going to compete with treasuries.
This does not change the fact that bitcoin is superior in every way to gold. It's a harder money that's more easily divisible, easier to send, easier to verify and easier to custody.
Bitcoin still has many trillions of dollars of market cap to add before it can compete with gold from a liquidity perspective.
I am more optimistic than ever that bitcoin will reach this point because more people are learning these facts every day and the infrastructure around the protocol is advancing at a faster pace than I've ever seen.
Square's release this week is the latest example of this. 4,000,000 merchants across the United States are currently being forced to ask the question, "Should I accept and hold bitcoin?"
How many do you think will take the plunge?
Zoom out.
