Doubting Bitcoin

As the bull market has taken off, my opinions about BTC have become convictions. Convictions that are so strong I'm thinking about rebalancing all of my retirement accounts into IBIT. The doubts that swirled in my head all through the bear market only resurface to serve as haunting reminders that I should have bought more.

However, the fact that I'm legitimately considering going all-in on bitcoin--despite 7+ years on believing in a rational, diversified investment strategy--gives me serious pause. I think there are still serious doubts about bitcoin as an investment, just as there are serious doubts with every investment (gold, S&P, US bonds, etc.). The more critical part of my brain is whispering "you're acting like a sucker".

One such doubt of mine is that we will always be "too early". I believe in the potential of bitcoin to transform the financial world--and society--as we know it, but I feel ETFs have shifted the narrative around bitcoin as just another speculative store of value to diversify into. I imagine this is how people thought about tulips and beanie babies back in the day. So I worry that bitcoin's growth has been stunted permanently, that we will never be able to outgrow this narrative, and people will just slowly lose interest in it over time.

What are your strongest doubts about bitcoin? And why do you continue to hodl in spite of those doubts?