On May 22, 2010, Laszlo Hanyecz bought two pizzas, paying with 10,000
bitcoins, which at the time were worth $0.0041 each. He paid a total
of $41 for the two pizzas. Today, the same 10,000 bitcoins would be
worth approximately $900 million. We remember May 22, 2010, as
Bitcoin Pizza Day.
On October 6, 2025, Bitcoin reached its last
all-time high of $126,080. Since then, the price of Bitcoin has
suffered a drastic drop of more than 30%, falling to around $80,600.
Many factors have contributed to this decline, including reduced
liquidity in the United States, profit-taking by older investors, and
attacks on companies that hold Bitcoin as part of their treasury.
Currently, the price of Bitcoin has rebounded to around $90,000.
Despite the fact that the bitcoin price chart
shows that a trend line of more than 10 years was broken, continues
its upward trend. Since November 2022, the maximum and minimum values
of the bitcoin price have been increasing, which equates to a
long-term upward trend. Despite numerous difficulties and temporary
circumstances, bitcoin remains a reserve asset and an excellent
investment.
It's true that high volatility still persists;
however, this volatility will gradually decrease. Many institutional
investors are taking significant positions in Bitcoin, and although I
believe they still don't own more than 2 million Bitcoins, they are
accumulating more and more. However, the vast majority of Bitcoins
belong to retail investors, and since many of them are weak hands,
Bitcoin selling will continue. Of course, this implies a transfer of
Bitcoins to institutional investors who are focused on the long term.
For this reason, Bitcoin as an asset is maturing, and the process of
institutional adoption is only just beginning.
It's also important to consider the large number
of speculators in the cryptocurrency market, for whom investing in
Bitcoin or altcoins is indifferent. For short- and medium-term
speculators, trading for quick profits is the norm.
Both factors—a large portion of Bitcoin held by
weak players and a market saturated with short- and medium-term
speculators—constantly fuel massive sell-offs. However, in the long
run, the balance tips toward institutional adoption.
In my personal case, if bitcoin continues bullish,
I will continue accumulating bitcoin. If Bitcoin experiences
short-term declines, I will continue to accumulate Bitcoin. For me,
buying physical gold is practically impossible because I don't have
the necessary resources. Even if I could buy it, self-custody and
transport of gold in case of relocation is not feasible. On the other
hand, buying satoshis is extremely easy thanks to exchanges. Whenever
convenient, the accumulated bitcoins can be transferred to cold
wallets for self-custody. Keeping bitcoins on exchanges or in
self-custody in a cold wallet allows for easy use and movement of the
asset, which isn't possible with physical gold.
For some time now, I've been accumulating Bitcoin.
I invest small amounts periodically to try to get the best average
price. Although Bitcoin is an asset that continually appreciates in
value and has been on an upward trend for several years, my intention
isn't to invest to make a profit in fiat currency. For me, it doesn't
make sense to accumulate a hard currency like Bitcoin only to sell it
later for a fiat currency that is inflationary and has an uncertain
future. That's right, fiat currencies and the entire economic system
based on them can disappear at any moment. It's very likely that
Bitcoin will survive the collapse. If all fiat currency disappears,
Bitcoin is a viable savings option and allows us to maintain our
purchasing power.
The current financial system is based on debt, the
excessive printing of money, and the inevitable rise of inflation.
Assets and stocks don't increase in price because of the real value
they provide to people, but because money is worth less and less.
It's incredible that industrial production processes and technology
cause the prices of goods and services to decrease, yet governments
and their monetary policies make fiat currency increasingly
inflationary. That's the dilemma of a debt-based economy. This
situation tends to worsen over time. It's very likely that sooner or
later the current financial system will collapse.
From this perspective, investing in Bitcoin is a
life preserver. It's an asset with a blockchain-based network of over
22,000 nodes, where historical accounting information is publicly
available and the maximum supply is 21 million BTC, guaranteeing
transparency, a non-inflationary asset, and the possibility of truly
owning our money. Proof-of-work, with increasingly robust mining,
currently positions it as the safest asset.
Investing in Bitcoin is investing in freedom an
independence. While it's extremely difficult to own an asset when
your income barely covers your living expenses, exchanges make it
much easier, even with limited funds. It's true that in emergencies,
you're forced to exchange your Bitcoin for fiat currency, and
everything you've invested years in collapses. Despite all the
difficulties, I hope to continue accumulating Bitcoin every month.