Bitcoin Friday — Jul. 5, 2024

Here are my quick, candid thoughts on bitcoin heading into the weekend.

Happy Bitcoin Friday!

• 2009: $0

• 2010: $0.07

• 2011: $14

• 2012: $6

• 2013: $76

• 2014: $640

• 2015: $255

• 2016: $659

• 2017: $2,581

• 2018: $6,504

• 2019: $11,976

• 2020: $9,094

• 2021: $34,684

• 2022: $19,115

• 2023: $30,777

• 2024: $56,762

These are the prices of bitcoin on the 4th of July for the last 15 years.

The bitcoin network began in January 2009 but it was primarily just the creator, Satoshi Nakamoto, and early users and developers like Hal Finney doing anything with it.

As time went on, trading markets developed and adoption increased. Bolded years above, 2012, 2016, 2020, and 2024 represent years with a bitcoin halving. We just had one earlier this year.

Price has been particularly volatile this week.

I spoke a little about what to do during a bitcoin correction recently. Volatility, however, is the price you pay for long term appreciation in any asset. Just look at Nvidia, the latest AI-tech darling of the S&P 500. Markets are not efficient. Individual and institutional investors have varying timelines, objectives, opinions, and access to knowledge. Because of this, no one can predict what tomorrow looks like.

The good news—the day-to-day isn’t as important as the bigger picture.

6-18 Months

April 19th marked the 4th halving.