War. Sanctions. SWIFT. Bitcoin.

I should just stop there. Article finished. But that would be no fun.

Bitcoin maxis are fond of asserting that Bitcoin is, “the mother of all assets” and handedly takes the crown as the best performing asset of the last twenty years, if not the last century. Yet despite Bitcoin’s success it has and continues to face fierce criticism from skeptics and doubters. It has followed a pattern of boom and bust since its inception, and at each peak has been labeled a “bubble”, and at the troughs it is proclaimed, “dead and never coming back”, only to be miraculously resurrected time and time again.

Bitcoin has more lives than a murderous black cat and is just as sinister. It has probably destroyed more people than it has enriched. Early sellers get sick every time they think of what could have been. Some unfortunate souls have gained notoriety simply because of their misfortune by either losing a hard drive containing thousands of Bitcoins, or for having paid 10,000 Bitcoins for two pizzas.

Bitcoin has been a blessing and a curse.

The stories of loss resonate more with us than those of incredible wealth generated by the fortunate few to have never sold. In the early days, most ended up selling for obvious reasons, either with gains or losses.

Some sold because of FUD.

Yes, FUD was around back then, but it wasn’t called FUD yet. Bitcoin has survived so much FUD that the term FUD became popularized because of Bitcoin. Before Bitcoin nobody really said FUD. Bitcoin HODLers have endured more Fear Uncertainty and Doubt than should ever be tolerated by investors.

‘FUD’ may have only been popularized by Bitcoin, but Bitcoin definitely gave birth to the most endearing crypto term of them all -HODL.

A whole new vocabulary word was required to emphasis how important it is to hold on to your Bitcoin. HODL. Then ‘diamond hands’ came on to the scene to show that some people are strong enough to HODL during extreme bouts of FUD, they ‘diamond hands’ their Bitcoin. The ones who fail to HODL are ridiculed and mocked as having, ‘paper hands.’

What all Bitcoin investors have surely experienced at one time or another is doubt. We all wonder, “maybe all the FUD is true and this is just a Ponzi scheme. There really isn’t any genuine use case for Bitcoin. Nobody really uses it. It’s not a real currency. It’s all just speculation.” Well, perhaps for the first time in Bitcoin’s history, all those worries may truly be buried.

Sadly it has taken a war for the FUD to die.

War has breathed new life into Bitcoin. A life of utility. Some people now actually NEED Bitcoin and crypto. It doesn’t matter ‘who’ either. Some will say, “it’s helping the Russians to subvert sanctions!” Yet we all know it’s also helping the Ukrainians get precious aid and to help fund their defense.

Bitcoin is software and technology. It has just taken longer than it should to replace the existing systems. Banks and traditional wire transfer services have resisted its use case but it has always been there, just waiting for mass adoption. Thanks to Bitcoin, geopolitical turmoil can now be managed to some extent, and be less severe. That’s being proven every day that Bitcoin continues to rise, along with the intensity of the war.

No. Bitcoin believers are not happy nor rejoicing that is has taken a war to make the world believe. We just are going to continue to HODL. That’s what we do. We know that it is still much too early. Because if it’s going up now, during a war, and skyrocketed during the pandemic, why would it suddenly crater when all this real and genuine FUD subsides? Perhaps after all this misery is over, we really do go to the moon. “We” would be for all the ones who haven’t been there yet. You.

HODL.

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