Redemption trade is BTC pumping in this macro environment. BTC was written off as 'digital gold' as it failed to catch up with gold. Yet BTC had three unique FUD chokepoints that unraveled last year: 1) Quantum FUD 2) 4-year cycle timing 3) Previous outperformance of gold/equities etc. BlackRock research found that over the long term, bitcoin’s adoption trajectory is driven by: - the intensity of concerns over global monetary stability - geopolitical instability - U.S. fiscal unsustainability - U.S. political instability All of the geopolitical catalysts are in play right now while quantum FUD weakens as solutions are being proposed and 4-year cycle believooors have had time to sell. Obviously, it's a copium post. Many things can go wrong as BTC, being the most liquid asset, is the first to sell off in distressed financial situations. But just as many gave up on it, BTC can still redeem its credibility as digital gold if it continues to outperform.