The Bull Case for a Parabolic Rally

I think people are underestimating the implications of the ETF— as crazy as that sounds. U.S. wirehouses are just beginning to participate and offer it to their clients. This didn’t just happen during the launch on day 1, it takes time. Bank of America and Wells Fargo just joined the party this week. It’ll take months for everybody to get involved (JPMorgan, Goldman Sachs, etc). My 401k and HSA providers have yet to allow me to contribute. Pretty soon fiduciaries will be legally obligated to inform their clients about Bitcoin and consider if it might be a good investment for them. It’s an entire new asset class gaining respect from the world’s most richest figures. This is no longer just “fake internet money.” Not to mention how easy it will be for companies to add it to their balance sheet now that they can just buy an ETF and call it a day. All worries about self-custody gone. Qatar, and other countries are rumored to be buying. Sovereign wealth funds. How is anybody bearish at this point in time? I get we’re starting to get overheated when looking at things like the fear and greed index, but if you look at the last parabolic rally we were overheated the entire ride up. Saylor rumored to have convinced Bezos. Put yourself in Bezos’ shoes, why not? What do you have to lose? I’m sure he’ll take all the hedges against inflation he can get. Halving coming up next month. Retail isn’t even close to here yet. My friends and relatives haven’t been asking me about Bitcoin… yet. MicroStrategy could be added to the S&P 500 relatively soon forcing buttcoiners and bogleheads to have some exposure through passive investing. What is the bear case?