Why It’s Time to Understand Bitcoin

I have had friends telling me about Bitcoin since 2013. People who urged me to learn. I resisted for a long time.

When it was at $200, I told my accountant to wire $25k so I could have my friend help me buy BTC. But when she asked me to explain what it was, I wasn’t ready. I’ve always thought if you can’t describe something in a paragraph or less—sometimes in just a sentence or two—it’s either because you don’t understand it or it’s simply a fake story rooted in fraud. I just didn’t understand… yet.

In 2017, everywhere I spoke, Bitcoin was the main topic. It annoyed me. Yet, I had an event in November of that year where I brought in an employee versed in it to speak to my inner circle. This led to some gaining tens of millions of dollars, while others were left with regret.

What I Love About Bitcoin

I can carry around any amount of money on my cold storage devices—I use Ledger and Trezor. I can take this anywhere in the world by simply knowing my seed phrases.

Bitcoin is decentralized. There’s no committee. No executives. This is technology, and technology advances us. It’s a new way to store value. Some call it digital gold. Skeptics say it’s nothing, just made up. Well, so is money. We just have enough of a social agreement that we decide both are stores of value.

The open ledger and transparency are remarkable. We may not know who’s doing the transaction, but we can see the transactions. This is the value of being recorded on the blockchain.

No middlemen, no printing of money, no fractionalized banking. Bitcoin is deflationary instead of inflationary.

I know people with a lot of Bitcoin—some have been mining it for years, others simply cashed in other assets. Some call these people lucky, but people who were “lucky” in Bitcoin usually sold early. Those who really understand it have kept it and continued buying. I know people who researched it again and again. They listened to podcasts, read articles, and dug deep. I have friends whose retirement outlook completely changed because Bitcoin has outperformed so many other assets—well, all others.

It’s like learning a language. At some point, you get good enough that you don’t have to translate in your primary language. Those who stop thinking in dollars and instead think in Bitcoin—they’re the ones who have held it, understand it, and weren’t looking for a quick buy and sell to convert back to dollars.

The Problems with Traditional Banking

Centralized banking is fraught with factors outside our control. How much money is being printed? It acts like a closed database—we can’t see the transactions. Quantitative easing means they can keep adding money to the system with a touch of a button, creating money out of thin air. Plus, the same dollar can be lent multiple times through fractionalized banking.

When I went to send a wire to buy my house, I took my oldest son. I wanted to show him how easy it was and teach him how it worked. After waiting for approval for over 42 minutes, we left and took him to school, unsuccessfully. That night, I showed him how easy it was to buy and then transfer Bitcoin from the comfort of my home in a matter of minutes.

Common Bitcoin Myths

Myth: Bitcoin is bad for the environment to run these mines and servers.

Reality: The energy consumption argument misses how many Bitcoin miners use renewable energy sources and how the traditional banking system uses massive amounts of energy across physical locations, servers, and infrastructure.

Myth: This is crypto, and crypto is risky.

Reality: Most crypto is hype and likely won’t be around in the future. Many buy cheaper coins hoping for more upside, but most add no value and are built on hype. Bitcoin is different—it has real utility and a proven track record.

Myth: It’s too late, I didn’t get in early enough.

Reality: Bitcoin is still a young and volatile asset, but it’s a technology that’s a game changer. Even buying at today’s prices could seem early in the decades to come.

How Bitcoin and Gold Are Similar (And Where Bitcoin Is Superior)

Bitcoin blends scarcity, sovereignty, and technology into a single asset class that doesn’t care about borders, banking hours, or political whims. It’s not a magic bullet (volatility is the tax you pay for early adoption), but as a store of value, a network, and a hedge against monetary mischief, it offers something no traditional asset can: self-custodied, programmable scarcity on a truly global stage.

Here’s a breakdown of Bitcoin’s key features: