"The main premise of the paper is that if bitcoin's price continues to rise, early bitcoin investors... will gain wealth at the expense of the latecomers."
"The dynamic is no different with any other publicly-traded asset... some of us are both 'early birds' and 'latecomers.'"
"I simply made the purchase in efforts to preserve my wealth... and went about my day."
"What the authors also missed is that bitcoin is often a money of choice in highly inflationary environments, contrary to their assertions."
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