Bitcoin Price Action Does Matter

This is an opinion editorial by Joakim Book, a Research Fellow at the American Institute for Economic Research, contributor and copy editor for Bitcoin Magazine and a writer on all things money and financial history.

When bitcoin tumbles, Bitcoiners get poorer. They don’t have fewer sats in their (hardware) wallets but can get radically less stuff with those sats — hence “poorer.” Poorer Bitcoiners can do fewer things in the world; they have less command over the world’s economic resources. If you think Bitcoiners have something practical to contribute to the world, this is a bad thing.

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