The signs pointing to the steady maturity and growth of Bitcoin in the crypto space and beyond are undeniable, which supports the cryptocurrency as the ultimate digital reserve asset.
There was a time when all cryptocurrencies were traded for bitcoins (BTC). Speculators ventured into other coins when they saw encouraging tokenomics or promising hype, but Bitcoin was their settlement coin of choice.

times have changed. Today, stablecoins form the mainstay of the $150 billion cryptocurrency market. Perpetual futures amplify market sentiment too much and dominate price action in most cases. Much more capital has entered the market lately, including from institutional funds, which has had only a moderate impact on the price of Bitcoin. Therefore, some former bulls now consider Bitcoin boring.

Is this the end of bitcoin maximalism? Probably no. But perhaps it’s time for more realism.

See also: Gold, bitcoin or DeFi: how can investors hedge against inflation?

Bitcoin in a sea of ​​memes
In the same way that Disney stock can hold its value alongside gold, new native digital names like the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) can rise with bitcoin in the digital asset space. And just as investors would be willing to buy the rights to a nearly 100-year-old Mickey Mouse, BAYC is introducing a new approach to branding. And it might work.

But it couldn’t be. It is speculative, which is what traders like.

The volatility of ApeCoin (APE) today is not the same as that of bitcoin. Monkeys are chasing brand hype as Bitcoin is now trading on a macro background. It’s safe to say that Bitcoin is consolidating as a major asset, not only in the digital asset space, but even among some of the bold institutional investors who generally shy away from volatility. Bitcoin is the established benchmark in the digital asset market, but will it also be the main reserve asset?

To be fair, we are seeing sovereign wealth funds begin to hold more than XRP, Shiba Inu (SHIB), or Bitcoin Cash (BCH). No reputable pension fund takes them. Realists see Bitcoin as different from its peers because it has proven to be resilient through multiple crises and because it is truly decentralized and beyond the control of any single government.

We see that in payments, the dominance of Bitcoin with a market cap of $750 billion is clear as it dwarfs the next in line. At the same time, however, we cannot dismiss the growth of other “cryptocurrencies” over bitcoin as meaningless just because it is not bitcoin. Realism opens up dialogue and better understanding, which is ultimately the key to acceptance.

Bitcoin for Boomers
In terms of price, Bitcoin is only boring for those who crave a rollercoaster ride in speculative trading. As this interest is diverted the other way, Bitcoin will mature and that in itself could lead to even more gains.

As YouTube influencers race from farming and breeding to staking and mining, haven’t we seen the bitcoin conversation mature so much and focus on first principles?

No, we haven’t seen $100,000 Bitcoin in 2021. But do we need to be so greedy if we haven’t even reached 5% global adoption? Yes, in a less boring world, like all investments, bitcoin can benefit from human greed and speculation, but those same impulses can cause any asset to plummet.

See also: Boom or bust? Is there a chance that the price of bitcoin will reach $100,000 in 2022?

Bitcoin takes time
A bitcoin maximalist usually wants to own enough bitcoins to be useful in time and space. They also probably want a fair and honest economy – hence their support for Bitcoin in the first place. The Maximalist must also agree that it is better to see billions of people owning a small amount of Bitcoin than a few million owning everything.

In fact, “buy on the dip” moments are not only beneficial for those most committed to bitcoin, but they also aid wider adoption as new entrants attract the buying opportunity. This is good.

In this regard, it is useful to ask yourself how many bitcoins you think you should have or aim for. And then act accordingly.

The most convinced bitcoiners, incl.

Source: CoinTelegraph