Ross Gerber, Tesla investor believes that that bitcoin is here to stay after the largest crypto-currency managed to defy the odds once again with its spectacular performance in January.
Another fun day for bitcoin. $23k and defying the haters who were sure it was dead. But no, bitcoin is like a cockroach 🪳 returns every time.
– Ross Gerber (@GerberKawasaki) January 21, 2023
On Twitter this morning, Ross Gerber, co-founder and CEO of Gerber Kawasaki Wealth & Investment Management, wrote: “Another fun day for bitcoin $23k and defying the haters who were sure it was dead. But no, bitcoin is like a cockroach that comes back every time“. The tweet was accompanied by a cockroach emoji.
The investor has long been an advocate of crypto-currencies, so his tweet can hardly be a surprise.
Ross Gerber revealed that he owns bitcoin during his 2020 appearance on the podcast Off The Chain With Anthony Pomliano. The investor described bitcoin as a hedge against inflation and a digital gold.
Bitcoin is indeed similar to the legendary cockroach – a nearly immortal creature that has long resisted extinction in a constantly changing environment. The cockroach’s resilience comes from its adaptability and ability to survive in a wide range of conditions, while its simplicity gives it a distinct advantage over more complex organisms that seek to challenge its position. It can live with very limited resources and reproduce quickly, allowing it to move easily when conditions change.
Similarly, bitcoin is revolutionizing the global economy and has grown exponentially since its inception in 2009 despite many adversities. The decentralized nature of bitcoin makes it immune to manipulation or seizure by governments, banks or other large institutions. This decentralized structure ensures financial independence and freedom from government intervention while mitigating the risk associated with inflation.
After enduring several bear markets, bitcoin has managed to recoup its losses and establish itself as a full-fledged asset in the modern global economy.