central banks are buying gold at the fastest pace since 1967. they understand debasement better than they let on. BTC is the same trade with a fixed supply cap and no vaulting costs.

gold dropped 18% in two weeks and the headlines said 'correction.' btc drops 5% and it's a funeral.

20 million bitcoin now exist. 95% of the supply already mined, most of it not moving. Exchange balances dropping. Cold storage growing. The final 5% takes 115 years to mine, halving every four years until it rounds to zero. Try inflating your way out of that.

Strategy's $42B raise could buy ~586,600 BTC. 2.8% of total supply concentrated in one company's treasury. at some point the 'bitcoin is decentralized' conversation gets awkward when a single equity instrument controls more coins than most sovereign reserves.

oil started this week at $108. analysts were calling $150 by summer. it's $87 today on a ceasefire rumor. full round trip in 5 days. BTC moves $3K and its credibility is somehow the thing in question.

Gold has lost $930 in 13 days. BTC gave back some war gains too, but gold was supposed to be the safe haven. When the 5000-year store of value bleeds faster than the 15-year-old internet asset during the same conflict, the narrative needs updating.