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How Hodlers Are Destroying Bitcoin, Making It What It Was Not Invented for

How Hodlers Are Destroying Bitcoin, Making It What It Was Not Invented for

Who will rescue Bitcoin as it continues its gravitational drift toward the bears of the market? This is one of those moments when you wish Bitcoin had a date on the calendar to present revenue, profits, margins, an earnings call to defend its value. But since Bitcoin cannot show a balance sheet or an income statement, the only lifeline is hope: hope that new faithfuls will buy, creating another inflection point.

Good People, the invention of money transformed humanity. The history is rich, from barter to cowries, from precious metals to minted coins. Across kingdoms and civilizations, humans have always sought efficient ways to exchange value. Then came a breakthrough in 7th-century China when the Tang dynasty invented paper money. The Song dynasty popularized it in the 11th century, and the Mongol Empire and Yuan dynasty scaled it across territories. The pursuit of frictionless exchange has been a timeless human project. Hello, electronic fund transfer of the internet era!

But Bitcoin introduces a paradox. For hodlers, it is not money, it is an asset class. Yet it is spoken of as a currency. And because it behaves more like an asset than a medium of exchange, it suffers: it must appreciate simply because people believe it should appreciate.

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Imagine if Bitcoin had an earnings call tomorrow, standing before the market to defend its valuation. That would change the game. As money, used to buy, exchange, transfer value, Bitcoin is a remarkable innovation. As an asset class expected to produce returns without a business engine behind it, the logic becomes fragile.

Use Bitcoin as money and it delivers. Ask it to behave like a company, and it collapses under expectations it was never designed to meet. I like stablecoins because they strip away the hodling spirit, removing the speculative pressure and leaving a powerful utility: the ability to cut transaction costs dramatically. That is transformative.

Let us scale that utility across Africa. Let us move away from the mindset of buying coins simply because we expect them to rise. Instead, let us deploy digital tools to improve operations, eliminate cross-border frictions, and unlock abundance across our economies.


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