What's Up With Bitcoin?


With the Dow crossing and staying over 50,000, and with gold and silver recently hitting all time highs, many people are wondering what's up with Bitcoin.

Bitcoin has been called, Digital Gold.  It is hailed as the best way to inflation-proof your portfolio.

Yet, it's down 45% from its all time high set back in October, 2025.

There are lots of theories about what's up with Bitcoin. 

No one knows for sure, but here are some realities.

 1.  It is common for Bitcoin to exhibit significant price volatility.  Historically, Bitcoin has had drawdowns of 60, 70, and 80%.  So, in comparison, 45% is not that significant in the long run.

 2. Nothing has changed regarding the fundamentals of Bitcoin.  It is decentralized.  It is not controlled by a bank nor a group of banks nor central banks nor governments. It's transactions occur almost instantaneously. It trades 24/7/365. It is the backbone of the blockchain, creating an immutable ledger of activity with transparency combined with security.

 3.  It has a limited supply. Once all Bitcoin is mined, there will never be more than 21 million.  Therefore, based on the laws of supply and demand, since the supply is fixed, increased demand will result in consistently increasing price.  Once retail and institutional investors accumulate more Bitcoin, there will be fewer available to purchase which also decreases the supply and increases the price. 

 4.  It provides direct ownership. Those who own Bitcoin can personally custody it, so no one and no entity can take it or confiscate it.

 5. It is currently on sale for 45% off!

Do you own it?

Have you considered it?

When I was practicing, I had no time to research Bitcoin and learn about it. Most people whose financial advice I respected had no use for it.  Most ridiculed it. Most said it was a quick way to lose your money.

However, once I retired, I took the time to research it and learn about it.

And I have almost become what they call a Bitcoin maximalist.

With the dollar debasing, and with the government's ability to keep printing more of them, we all look for the store of value investments to hedge against the erosive effects of inflation and debasement of the dollar.  As they say, the dollar sure doesn't buy what it used to.

Real estate works.  A primary residence and maybe a second, vacation home. But who needs a third or fourth home? So, rental real estate has been one answer. However, then you become a landlord. That requires maintenance, sometimes at late hours or weekend hours. Renters can damage your investment. You know the pros and cons.

Gold and/or silver are also options. In the past three months you would have looked like a genius to be invested in them. But for the 15 years prior, you looked like an idiot. (See chart below)  The chart below dates back to October, 2025 and there has been a large upward trend in gold and silver since then as well as a significant decline in Bitcoin's price since then. How long will this current upturn last? No one knows, but history says not for long.  And remember, they do not have a limited supply.  People can always mine more gold and silver. That adversely affects the price.  And they aren't actually all that easy to sell.  And because of their weight, they are difficult to personally store. And gold has been confiscated by governments in the not too distant past. 

Stocks and bonds.  Stocks are most often represented by the S&P 500 which has returned about 14% annually over time.  Not bad, but you still have to hold them through the downturns to enjoy the 14% returns. Bonds have been a miserable idea for over 20 years.  Their yields don't keep up with inflation, so you lose money over time, but it is a slower rate of loss than a savings account or money market fund. 

Collectibles.  Yes, you can invest in fine art, rare coins, rare wines, baseball cards, etc.  But if you didn't have time to learn about Bitcoin, when will you have time to learn the fine points that make or break collectible investors?  They can also be difficult to unload when it comes time to sell.

I encourage you to do your own research.

But whatever you do, do not dismiss Bitcoin just because others do.

Don't dismiss it just because it is currently lagging other investments.

You really shouldn't dismiss it at all.

You will regret that for sure.

Now, I'm not advocating putting all your investable assets into Bitcoin.

You still need to be diversified.

But just as dollar cost averaging is a good idea for equities, it is also a good idea for Bitcoin. 

Just please do real research.  Listen to influencers both for and against it. Check out Michael Saylor as the Pro-Bitcoin voice.  And check out Peter Schiff as the Anti-Bitcoin voice. There are plenty of others, but those two would be a good start.


If you do legitimate research into it and learn about it, and then decide Bitcoin is not for you, fine!

But please don't do like so many others and scoff at it, ridicule it, and dismiss it without knowledge.

If you do, the last laugh will definitely be on you!


Ben Holt, M.D.
​CEO, RTR Practice Advisors