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Selling Bitcoin is like playing a losing game at a rigged casino says Adam Back CEO of Blockstream and one of the first people to support Bitcoin. Speaking in a recent interview he warned that trying to time the market is risky and often ends in losses. Back explained that despite Bitcoin’s sharp price swings its long term trend has always been upward.
He highlighted how Bitcoin has returned over 39,000% in the last decade rewarding those who held through the highs and lows. Back believes the extreme volatility is a normal part of fast growing assets and expects it to stabilize as adoption increases. The idea of diminishing returns may not apply this cycle due to new market dynamics.
Support for Bitcoin is growing among big players including corporations and even governments. Abu Dhabi invested over $400 million in a Bitcoin ETF while US states like Texas and New Hampshire have moved to create Bitcoin reserves. Even President Trump has backed a national Bitcoin strategy.
