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It is nonetheless the prevailing thesis behind BTC, and many highly-regarded fund managers are starting to allocate serious portions of their reserves to cryptocurrency.

The important thing is how probability of BTC tanking to $500 compares to probability of USD tanking in BTC terms in the next few years.

Historical data hints that we are not close to the peak of the current bubble and when BTC drops it probably won't be lower than today, or at least, not for a long time.

Of course there is also probability that the 12-year trend will crash into zero, but that probability dwindles with every year Bitcoin isn't broken and every popped bubble that lands on an even higher low.

HN is the only place I know where users are this stubborn to keep their head in the sand about Bitcoin. It's been 12 years man. Bitcoin could not tank to $500 tomorrow. It never will. Sorry