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Dear Quentin,
I’ve managed to acquire one bitcoin. I’m a 51-year-old single woman, and I’m a fully signed-up bitcoin follower. Given the volatility, I don’t want to cash it in, as I don’t think the crypto market is “bubblish.” When I first bought bitcoin it was $48,000, and then it fell to $16,000. I bought it at the wrong time, but anyone who has ridden the storm once isn’t worried about this downturn, and they’re buying furiously. My car is a piece of s—, but there’s no way I’m spending any money on anything other than bitcoin.
With bitcoin, there is a limited supply and it’s not run by one organization or one person. A big drop happens every couple of years, and it’s normally what happens before a huge pump. The consensus among some observers is that there’ll be a huge pump
at the end of the year to $200,000. You’ve had banks and nation states buying into bitcoin and exchange-traded funds. I’m not a financial whiz kid, but investors are trying to bring the price down so they can buy as much as possible, trying to scare the weaker hands.
