They tend to sell Bitcoin whenever there's risk in the technology sector, which absolutely doesn't make rational sense. But this is what's happening in the market." Muneeb Ali…
Original source excerpt
"They tend to sell Bitcoin whenever there's risk in the technology sector, which absolutely doesn't make rational sense. But this is what's happening in the market." Muneeb Ali (@muneeb) made me more…
"They tend to sell Bitcoin whenever there's risk in the technology sector, which absolutely doesn't make rational sense. But this is what's happening in the market." Muneeb Ali (@muneeb) made me more bullish on #Bitcoin. I’m currently all-in in #Altcoins, and I think I should have way more Bitcoin as we’re literally just getting started with the adoption of Bitcoin. Wall Street finally jumped into Bitcoin too, and the adoption continues to grow. Institutions put Bitcoin on their balance sheets next to their tech exposure, so every time the Nasdaq wobbles, Bitcoin gets sold with it. The "digital gold" trades like a semiconductor stock, not because the asset changed, but because of where its new owners filed it. And his sharper point underneath: everything else in crypto actually does look like technology to these investors. Other L1s, L2s, the whole stack, that's a tech bet, fine. "Whereas Bitcoin shouldn't be correlated to a tech stock." The one asset in the industry with a store-of-value claim inherited the correlation of everything built around it. The result, by his favorite metric: thirteen years in, Bitcoin sits at less than 10% of gold's market cap. "I would have expected us to be maybe twenty, thirty percent of gold by now." Translation: the gap between what Bitcoin is and how it trades is being set by its least convinced holders. Institutions selling store-of-value for tech-sector reasons is either the market's biggest mispricing, or proof the store-of-value thesis was always a retail story. One of those is an opportunity. The other is a warning.
AI context is not available for this statement. The original source can be read independently.