Selling Bitcoin is like playing in a 'bad house-rate casino' — Adam Back
Summary
Selling Bitcoin is compared to gambling in a poorly rated casino, according to Adam Back, CEO of Blockstream. He argues that traders face unfavorable odds when attempting to time the market due to Bitcoin's volatility and upward price trend. Historical data shows Bitcoin has experienced corrections exceeding 80%, yet those who held onto their investments over the past decade have seen returns over 39,000%. Back suggests that rapid growth leads to volatility until full adoption occurs. Factors supporting potential price increases include direct Bitcoin acquisitions by companies, growing institutional interest, and government initiatives, such as the establishment of Bitcoin reserves by various states and entities.
