That’s how people go bankrupt, of course. But it’s also a fair description of bitcoin’s ascendance from radical experiment to widely used technology. Recall, if you dare, that in March 2020 BTC was trading at about $5,000 per token and had been in the doldrums for years. Then COVID-19 lockdowns juiced boredom-driven day trading and increased interest in crypto, ultimately unleashing a string of transformational moments for Bitcoin. Those included the big BTC buy by Tesla, integration into Twitter, high-profile legislative debates in the U.S., a record-setting stadium name deal and national adoption in El Salvador.
