What's going on-38 year old perspective-is it still early?

I think different perspectives can help all of us. I'm very biased as I know bitcoin. I recently went to a work get together. Many people have not seen each other in 18 months. I work in finance -a superstar makes $350k. A lot of experienced people who are also very talented make between 140-160k. The majority make 70-80k who tend to have under 5 years experience.

A year ago 3 people had bought bitcoin. Only 2 had significant holdings. Today...

20% of the workforce now owns bitcoin, and many are secretly buying. They are also buying very little relative to income. A guy who makes 5k a week has $12k, etc. It reminds me very much of the middle of the crazy run of 2017 at the 8k mark. There is only one person who has made a significant leap into bitcoin (and other crypto) relative to net worth/income.

The biggest holders have taken on a lot more exposure than they wanted to initially. I see half of them starting to reduce their exposure.

I don't want to turn this into btc vs other assets. None are only holding btc. Just stating what I am seeing. New arrivals are searching for low cost alts :(

Directed towards men-men, money by itself will not make you happy nor get you the women you want. And, if a woman likes you because you have money please run.

Most people have an intrigue into what bitcoin and other cryptos but it is primarily driven by price.

More people have bought their first piece of real estate than have bought bitcoin.

The people who have the most money-net worths of over 3 million-some of close to 10 mill-have a large amount of coins. They started buying last year. They generally have the same thinking: "bitcoin is gold on steroids. Whether I personally agree with it or not, the market is speaking. NOT having bitcoin is a bigger risk than owning bitcoin.

There is a lot of doubt. A lot of people were counting on the end of year fireworks and they are losing their faith by the day.

All this being said, how about the typical person? It's important to point out that this is finance so you would expect the average person to be informed more about this, wouldn't you? Well, the average person doesn't give a rat's ass about bitcoin. They are in the complaining phase-houses are expensive, retirement's a dream, and bitcoin is some stupid thing their cousin bought. There is more interest in carnival cruise lines, tesla options, and commercial real estate for the investors, and the typical person has zero interest. A few have some dog coins.

It is early. Painfully early. This reminds me of real estate in 2015-it was so expensive they said.

Submitted December 08, 2021 at 09:49AM by throwaway29801A https://ift.tt/3EzLCGF