I Bought Bitcoin Today – And Felt Nothing

I looked at my wallet and saw a sad six digits. 

It used to be seven, or such was the case after I rolled over the balance of my monthly expenses, dollar cost averaging into Bitcoin and then sending it to my Casa cold storage.

https://x.com/pete_rizzo_/

Usually, buying Bitcoin is a joyful process. I’d have the satisfaction of picking up at least a bitcent. 

As someone who had that chance to buy Bitcoin at $50 (but thought better of it, LOL) it's been a bitter time over the years, dutifully stacking away in an attempt to undo my mistake.

There’ve been milestones, leaps of progress, as even numbers were chipped away. I have to say, though, this purchase was particularly deflating.

Yes, with the price soaring over $88,000, I knew I was buying the top, and I have every ounce of confidence that this purchase will be meaningful someday. 

I’m sure in 10 years someone will look back at this post and laugh, marveling about how you could buy 500,000 satoshis for $500. Hell, my purchase is already in the green.

This is the process of Bitcoin’s Great Monetization, a steady step on its progress from random digits on a computer that were worth nothing to the next global reserve currency. 

I get it, I’m, as you would say, “bought in.” I have every intention to keep buying Bitcoin. After all, it’s where I spend every waking moment of every work day.

What is this piece about? Call it an ode to malaise.

I’m sure people are out there furiously stacking, afraid the Bitcoin price will run past $100,000 without them having any. Same with institutions, same with nation states. Seriously.

What do they look at these bitcents and see? Are they buying happiness? Relief?

Bitcoin, you great mirror. With every buy, we take our place in the long arc of history.