You chose 1973 as your baseline. Let me tell you what happened in 1973.
The dollar fully floated after Nixon severed gold. The first Pell Grants were awarded. The HMO Act was signed. Your chart does not start before the crisis, Bernie. It starts at the scene of the crime.
Healthcare up 35x because Medicare, CON laws, and the AMA cartel run medicine.
Homes up 13x because zoning makes building illegal and the Fed prints.
Rent up 15x because price controls and zoning strangle supply.
Tuition up 23x because federal loans gave colleges a blank check.
General prices rose 7x in that span. Everything government controls rose 13x to 35x. Everything it leaves alone got cheaper.
You are not the prosecutor of this case. You are the defendant.
Congress hands out money to make college affordable, and college promptly becomes less affordable. You would think someone in Washington might notice the pattern by now.
The mechanics are straightforward. When the federal government offers a student an extra few thousand dollars in Pell Grant money, the student does not pocket the difference and buy groceries. The university does. A 2015 study by the New York Fed found that each dollar of subsidized loan expansion pushed sticker tuition up by roughly 60 cents. Pell Grants track the same logic. Give buyers more purchasing power for a good in fixed supply, and the seller raises the price. Demand curves do exactly what they do.
Think about who runs a university. An administrator watching a fresh river of guaranteed federal cash flow toward eighteen-year-olds is not going to leave that money on the table. He hires more deans. He builds a climbing wall. He funds another diversity office, then raises tuition to cover it, secure in the knowledge that the grant will absorb the hike. The student feels no pain at the moment of purchase, which is the entire problem.
Between 1980 and 2020, published tuition at four-year public colleges rose faster than health care, faster than housing, faster than nearly anything the government has not touched. The correlation with federal aid expansion is not subtle.
Free market economists have explained this for a century: subsidize consumption of a scarce good and you inflate its price, not its supply. Pell Grants do not make college cheaper. They transfer taxpayer money to administrators. Then the kids graduate poorer.
Reminding Again: Zohran's family still keeps this mansion in Uganda in the richest neighborhood of Kampala surrounded by armed security because everyone else is so poor.
⚡️The signal here is extraordinary.
Gold spent five thousand years becoming the default store of value.
Bitcoin reached comparable household penetration in less than two decades.
That is not normal adoption.
That is civilizational compression.
Every monetary transition begins the same way.
First, the new money is mocked.
Then it is tolerated.
Then it becomes a speculation.
Then it becomes a savings vehicle.
Then institutions adopt it.
Then states incorporate it.
Then children assume it was always there.
Bitcoin has already crossed the hardest threshold.
It has entered household memory.
That matters more than price.
A person who owns Bitcoin thinks differently about money forever. They begin questioning inflation, monetary expansion, sovereign debt, custody, settlement, and scarcity. They stop treating money as invisible infrastructure and start seeing it as a technology competing with other technologies.
That cognitive shift compounds across generations.
Gold required vaults, transport, authentication, and physical custody. Bitcoin requires a phone, a hardware wallet, or an ETF. Distribution friction collapsed from tons to bytes.
That is why adoption is accelerating.
Gold is analog scarcity.
Bitcoin is digital scarcity.
Every generation tends to adopt the monetary technology native to its own information environment.
The older generation trusts atoms.
The younger generation trusts mathematics.
The deeper pattern is that Bitcoin is slowly replacing gold’s role in private consciousness long before it replaces gold’s role in sovereign reserves.
That sequence matters.
People change first.
Institutions follow.
States arrive last.
The market still frames Bitcoin as a risk asset because it trades every second.
History will probably remember it as the first globally native monetary network.
The deepest realization is this.
Money is collective memory.
Gold stored memory in matter.
Bitcoin stores memory in consensus.
Both solve the same problem.
One belongs to the industrial age.
The other belongs to the computational age.
That is why this chart matters far beyond investing.
It suggests an entire generation is choosing a different answer to one of civilization’s oldest questions:
What should preserve human effort across time?
That question built empires.
It is being answered again.
Thankfully I have numbers rather than opinions.
The average number of days per year in the U.S. reaching 95°F was ~18% lower during the 60-year period 1961 to 2020 compared to 1901 to 1960.
The number of days reaching 100°F and 105°F have also declined since 1895.
The Catholic Church has opposed Communism long before the founding of the CIA. 101 years is the gap. Pope Pius IX was the first Pope to do so with his encyclical- Qui Pluribus- in 1846. Section 16 explicitly criticized and called out against "Communism" by name.
A quick note from a Greece-obsessed author on the eve of Nolan’s Odyssey adaptation: I can’t litigate the casting. I'm an American in Las Vegas (I know) writing about a Macedonian king who's been dead 2,300 years. If loving a people's past from the outside is a crime, I turn myself in.
What’s worth mentioning, though: Greece rebated the production €6.5 million to shoot across the Peloponnese. The Ministry of Culture was behind it. This is their national epic. And in the whole cast — Odysseus, Penelope, Telemachus, Helen, Menelaus, Agamemnon, Athena, Calypso, the suitors, Eumaeus, Sinon, Tiresias — not one Greek in a named role.
During filming, Greek and Cypriot writers sent open letters to the production with a single message: We are still here. A living people whose story has never stopped being written.
A €250 million production used their country, their myth, and their money, and found no room in it for them. Whatever that is, it isn't inclusion. It's a beautiful backdrop and a favorable exchange rate.
So I stand by the tried-but-true adage: the book is always better.
⚡️Every major force in the system pushes in the same direction.
Governments cannot run hard money.
Their debt loads are too large, their entitlement promises are too rigid, their banking systems are too dependent on liquidity, and their political systems cannot tolerate the deflation required to make sovereign money genuinely scarce.
They will keep expanding nominal claims because contraction threatens the entire institutional order.
That creates permanent demand for an asset with no issuer.
Bitcoin is the only asset that combines fixed supply, global transferability, deep liquidity, digital custody, divisibility, and independence from any one state.
Gold has monetary history but weak transport and settlement. Sovereign bonds have liquidity but depend on the issuer’s balance sheet. Real estate stores value but is local, illiquid, taxable, and politically exposed. Bitcoin is the cleanest escape valve from expanding sovereign liabilities.
Once an asset becomes widely accepted as a store of value, finance builds credit around it automatically.
This happens because idle collateral is economically intolerable. A company holding Bitcoin wants cheaper funding. A bank wants lending revenue. An investor wants yield. An asset manager wants products. A government wants visibility and control. Every participant has an incentive to transform static ownership into claims, loans, preferred equity, derivatives, custody products, and settlement services.
Scarcity creates collateral value.
Collateral value creates borrowing capacity.
Borrowing capacity creates more demand for the collateral.
That loop is the engine.
The corporate treasury model accelerates the process because it converts equity and debt markets into Bitcoin acquisition channels. The company issues securities, buys Bitcoin, increases exposure per share, attracts more capital, and repeats. During a bull market, the loop becomes self-validating. Success recruits imitators. Imitation broadens institutional legitimacy. Legitimacy lowers financing costs. Lower financing costs increase accumulation.
The next step follows from institutional self-interest.
Banks and governments prefer integration over exclusion once the asset becomes too valuable and too widely held to suppress cheaply. Regulation then channels activity into supervised custody, approved products, capital rules, reporting systems, and taxable wrappers. That brings larger pools of capital into the market while preserving state oversight.
The geopolitical layer makes the direction stronger.
The world is fragmenting into competing blocs. Reserve assets can be frozen. Payment systems can be weaponized. Sanctions can immobilize sovereign wealth. Every state that distrusts another state’s balance sheet gains an incentive to hold a neutral asset that cannot be issued by a rival.
Bitcoin’s neutrality becomes more valuable as trust between states declines.
The system then reaches a phase where holding zero becomes a strategic risk.
A pension fund can ignore Bitcoin while it remains marginal. A corporation can ignore it while competitors do the same. A sovereign can ignore it while no peer treats it as reserve insurance.
Once credible institutions begin holding it, the reputational risk reverses. Ownership becomes defensible. Non-ownership requires explanation.
That creates institutional FOMO at a scale retail markets cannot match.