Bullish on BTC

BTC seems to have stabilized in the current market and is slowly coiling for the next bull run.

We have multiple spot ETF’s under consideration by the largest asset managers in the world: Blackrock, Fidelity, Etc. Then there is the EU passing legislation that will allow banks inside its borders to hold up to 2% of capital reserves in BTC. In addition, a coalition of nations in BRICS that’s are seeking to undermine the legitimacy and dominance of fiat currency. These are three long-term causal factors whose effects indicate a positive trend towards assets with fixed supply.

These events represent a turning point in the ownership of assets like BTC. People in the US and abroad finally recognize the deficiencies of fiat currency and the risk it poses to the average citizen, the economy, and the world at large. Deflationary assets that cannot be manipulated at the expense of their holders are becoming mainstream.

Thoughts?

Sources:

https://www.bloomberg.com/news/articles/2023-06-30/fidelity-leads-flurry-of-bitcoin-btc-etf-refilings-to-answer-sec

https://m.investing.com/news/cryptocurrency-news/bis-allows-banks-to-hold-2-of-their-reserves-in-cryptocurrencies-2966647

https://foreignpolicy.com/2023/04/24/brics-currency-end-dollar-dominance-united-states-russia-china/