#bitcoin

$BTC : The ‘Perfect Asset’ for the Next 1,000 Years? 🚀

Bitcoin OG Willy Woo just dropped a bold claim at the Baltic Honeybadger conference: Bitcoin could be the ultimate asset for the next millennium—but it’s got some hurdles to clear before it can challenge the US dollar or gold. 💰

🔑 Key Points:

• Bitcoin’s market cap is $2.42T, a fraction of gold’s $23T and the US dollar’s $21.9T money supply. To rival them, it needs way more capital inflow.

• Bitcoin treasury firms are driving adoption, but their opaque debt structures could spark a bubble burst. Altcoin treasuries might follow suit, creating more market risks. 😬

• Nation-state risks: Spot Bitcoin ETFs and pension funds leaning on custodians like Coinbase could leave BTC vulnerable to government interference. Self-custody is key to avoiding a “nation-state rug-pull.” 🛡️

• Bright side? Companies adopting Bitcoin treasuries are a logical step, says Blockstream’s Adam Back. If a business can’t outperform Bitcoin’s returns, it should just buy BTC and call it a day! 📈

🗣️ Self-Custody is the Future: Debifi’s Max Kei predicts self-custody will spread from institutions to businesses and individuals, securing Bitcoin’s decentralized ethos.

⚠️ The Catch: A bear market could expose weak players, flooding the market with coins and shaking things up. Who’s “swimming naked”? Time will tell.

What do you think—can Bitcoin become the world’s reserve asset, or are these risks too big?