Why Selling Bitcoin Feels Like a Rigged Casino Game, According to Adam Back
Blockstream CEO Warns Traders Against Trying to Time Bitcoin’s Volatility
Selling Bitcoin is like gambling in a rigged casino, says Adam Back, CEO of Blockstream and one of Bitcoin’s earliest contributors. In a frank conversation with Unchained, Back explained why trying to profit from Bitcoin’s dramatic price swings rarely ends well for traders.
Back, who has been involved with Bitcoin since its early days, likened selling BTC during volatile moments to “playing in a really bad house-rate casino.” The reason? The odds are consistently against those who try to time short-term market moves, especially with an asset that continues to rise over time despite sharp corrections.
“The trend line is up and to the right, exponential, and so there’s extremely bad trading odds attached to selling,” Back said during the interview.
“You’re really just hoping that it falls.”
Bitcoin’s Track Record Rewards Long-Term Holders
Despite its reputation for extreme volatility—including corrections exceeding 80% in past cycles—Bitcoin has delivered staggering long-term returns. According to market data, BTC has returned over 39,000% in the past decade.
That kind of return, Back explained, is typical of early-stage technologies with rapid adoption curves. Volatility, in his view, is simply the price of opportunity.
“I think anything that has a really rapid growth curve ends up with some pretty extreme volatility until it gets closer to full adoption,” he noted.
More Than Just Hype: Institutional and Government Support Grows
Back dismissed the idea that Bitcoin’s long-term potential is diminishing. He cited a series of real-world events signaling sustained momentum, especially from powerful institutions and governments.
-
Corporations like Strategy are doubling down, not only acquiring BTC directly but offering convertible notes to gain exposure.
-
Abu Dhabi’s sovereign wealth fund recently made a $408.5 million investment in BlackRock’s Bitcoin ETF, signaling deep confidence from nation-state level actors.
-
In the United States, President Donald Trump signed an executive order to create a strategic Bitcoin reserve, while the states of New Hampshire and Texas have also passed laws establishing or authorizing state-level reserves.
These signals, according to Back, suggest Bitcoin’s adoption curve may still be in its infancy, making short-term selling decisions increasingly risky.
Final Word
Bitcoin is not just an asset class—it’s a movement gaining steam across sectors and borders. For investors tempted to sell during price dips, Back’s advice remains simple: don’t gamble against the house when the house is still being built.
Share This
