Some fervent supporters add to their positions. Others keep “hodling,” or maybe take profits. Then there’s Ludvig Manukyan, who apparently celebrates bitcoin’s incredible rally with his paintbrush.
Manukyan’s son shared his 68-year-old dad’s creation, “The Bitcoin Bull,” on Reddit on the same day bitcoin
BTCUSD, +7.64%
bounced back from last week brutal stretch to regain $4,000.
This is how the artist describes his work:
“To the left we are met with a raging bull preparing for another charge against a large wall. The bull coupled with an upwards-facing, golden Bitcoin symbol that he is seen to be carrying represent the start of a bull market and a rise in the value of Bitcoin. The wall is composed of large rock formations that can be construed as the very blocks that make up Bitcoin. The wall can also be more appropriately interpreted as a market ‘ask’ wall that the bull is hammering down and must overcome. The wall contains hints of green to symbolize the current USD paradigm. The painting also features warmer tones to emphasize on the stresses, frustrations, and uncertainties of the market.”
Without further ado, here’s the whole painting:
The artist said he’s only releasing 21 signed and numbered copies, in honor of Bitcoin’s maximum coin supply. “Originals are not for sale,” he said. “Originals will be stored away and are planned to be donated to museums and art galleries in the future.”
The post immediately drew rave reviews on Reddit.
“Beautiful work and concept screw the haters, art is subjective” — CrytoBoomer.
“Great painting! Tell him to keep the good work” — MrMarsStark.
“HODL on to it, value of this art will grow exponentially” — pielman.
Of course, there were a few, like baldheadted, who raised the yellow flag.
“This is terrifying. It’s telling me that your dad has an emotional attachment to a nontraditional, highly volatile asset class.,” he wrote. “The fact that he ‘loves it’ and the image of the bull tells me he may be over-allocated to it. This is how people lose enough money to affect the rest of their lives.”
Jeez. Who invited THAT guy?
Meanwhile, bitcoin continues to claw its way back from its low of $2,951 on Friday, when a crackdown in China combined with a harsh critique from J.P. Morgan’s
JPM, +1.55%
Jamie Dimon weighed heavily.
At last check, bitcoin was hovering just above the $4,000 level.