[notahacker]

It's only claim to be a SoV (unless you still believe it's on the path to being used as a means of payment) is the belief that it might have the weird countercyclical properties of gold (i.e. everyone buys it out of habit when they lose confidence in assets valued for their future returns like stocks and bonds and/or local currency)

Instead, when asset prices crashed and most countries experienced their highest inflation in decades, BTC not only failed to gain in value as a "safe haven" but actually fell much faster. Impossible to stress how favourable this year should have been to an "uncensorable" abstract store of value whose supply doesnt vary according to economic conditions.

[yakkityyak]

It's all just more proof that BTC is mostly for speculative gambling - something that has been obvious for the past half decade.