This is a very short note that gets to the essence of the what and why of bitcoin.

Bitcoin’s detractors often refer to it as a speculative asset. This is partially true – an investment in bitcoin involves speculation on an inherently uncertain future. But the connotation implied by ‘speculation’ is often unhelpful because it associates bitcoin with fly-by-nights who are merely trying to make a quick buck.

Whilst bitcoin demand is variable, bitcoin supply is perfectly known and pre-determined. There will only be 21 million. The architectural design is very unlikely to change. It’s incredible how known supply meets variable demand and results in adoption waves, which centre around the halving*.

TLDR: The foundations of social trust are being tested. Our unsound monetary system with its negative consequences is a driver of this trust deficit. Communities that adopt sound money assets take a proactive step towards trustworthy relationships and away from the insidious consequences of unsound money.

Have you ever wondered why it’s challenging to buy a house and save for your family’s future? Debt and its unequal impact on wealth is the focus of this edition of the Sound Money Money. TLDR: Debt is driving wealth inequality.