Tied Knots

Citadel CEO Ken Griffin says he regrets not buying crypto a few years ago, and Vladimir Putin recently claimed in an interview that no one can ban Bitcoin. Hmmm, this bull market is getting more interesting as we go along. It feels like an endless flood of capital is about to hit the market.

The fact that banks and bankers are about to ape into Bitcoin is something I covered extensively in my series of posts from years back titled "The War on Bitcoin." Alongside BTC being accepted at a state level, we now have major financial institutions piling in.

No surprise, then, that BTC is holding above $90K so well. Soon, we’ll probably see $100K, which, in my opinion, will act as a massive catalyst for an insane pump, likely running until around May next year. But Putin talking Bitcoin? Now that’s something...

Vladimir Putin has never really been against Bitcoin. Some voices online even suggest Satoshi Nakamoto could be Russian (or a Russian group), which I highly doubt. Still, I get where Putin’s coming from. He’s right—no one can stop Bitcoin. And honestly, Russia needs Bitcoin.

Russia has been hit hard by US and European sanctions. These sanctions have inadvertently strengthened BRICS, but BRICS using their own currencies or even a digital one doesn’t fully solve the problem. They need a globally accepted currency to work around sanctions, and Bitcoin fits the bill perfectly.

Bitcoin isn’t fiat, but it’s traded internationally 24/7. That makes it ideal for countries under sanctions to use in trade. North Korea’s hacker group Lazarus has already shown us that Bitcoin can solve a lot of problems in this new digital era.

I’ve been bullish on crypto since early 2023. The further we move away from the 2024 halving, the more bullish I get. BTC is ranging between $90K and $100K, and there’s no major hype around it yet. To me, that signals that this bull market still has plenty of gas in the tank.

As I’ve mentioned in previous posts, I don’t believe in a crypto super cycle. No matter how tempting it is, when your portfolio hits 100X or more, you’re going to want to take profits. The same applies to ETF holders and countless altcoin bag holders. At some point, the steep climb will slow down.

But for now, especially in altcoins, we’re just scratching the surface. There’s still a ton of upside ahead.

One analyst I respect on Twitter predicts BTC will hit $238,000 this cycle, while others are aiming for $600,000. Honestly, I’m not sure where we’ll land, but I believe we’re heading toward a 2017-like scenario.

Raise your targets, my friends. Presidents of both the US and Russia don’t talk about Bitcoin that often. When they do, you know we’re in for something big.

Thanks for your attention,
Adrian