Today, while scrolling through X, I came across a thread discussing the supremacy of Bitcoin compared to other financial instruments, including Gold, Stocks, Real Estate, different types of cryptocurrency, and Fiat Currency.
It immediately took me back to how BTC has been performing in the last couple of days. It has been one hell of a rollercoaster. It has been at $103k, and if I am not mistaken, it went below the 100K mark. At that point, other cryptos took a major hit, falling faster than one would expect, like ETH, BNB, and even Solana.
But here is the thing: when BTC goes down in price, while taking other cryptos down with it, it comes back up all alone, and that is the annoying part. You brought down the rest, so take them up when you go back on the strand.
The comparison of BTC to other assets was what drew me to the actual post, talking about how BTC has now become an asset that the United States of America is considering as a National Reserve for the country. It is wonderful to see that crypto, and not just any other crypto, Bitcoin, is worth such reconsideration.
Michael Saylor of MicroStrategy, popularly considered to be a forerunner of the Token, hence going in strong on Bitcoin with heavily stakes of cash. Successfully, he has tied his company's performance to the price of BTC, whereby a rise in the price of BTC could lead to an increase in MicroStrategy's stock price.
Although Gold might still be topping the capitalization of the world but BTC is running faster than you can expect. It is the future of a decentralized economy, and many consider it to be the future of the digital world.
The systemic arrangement of the financial instrument in the image speaks a truth I quite agree with. Crypto is now a fast adoption where everyone wants to get a piece of it, but not every crypto has the Bitcoin mojo. It is not every crypto out there that can bounce like Bitcoin. So many have fallen with a thread of resurrection.
So, in the image, BTC is king, which makes it priceless and too important. While Gold is the powerful and beautiful Queen, everybody admires her when she walks into the room. Then the bishop goes to stocks, probably due to its diagonal progressive movement, which could mean stocks go up and even drop at a diagonal progression.
Next up, Knight, which is used to represent real estate. I take it that this means real estate is quite tricky, like how the movement of the knight is tricky on the chessboard.
The rook is used to represent other crypto, which I see as a symbolism of being answerable to the king, like how the rook answers the king when it is time to castle and protect the king. And lastly, the pawn is used to represent fiat, and this speaks for itself; the concept of fiat money in today's world is only a pawn or foot soldier to do our bidding.
Also, the concept of how Fiat used to buy BTC even speaks more to BTC's supremacy.
Bitcoin in today's world has amassed much adoption, and this makes it the King in my defense.
I am @samostically, I love to talk and write about chess because I benefited a lot from playing chess and I love writing about chess.
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That’s an interesting analogy with the players on the chessboard. Indeed, bitcoin is king.
!PIMP
Yes yes it's true!