According to the source, framing BTC as 40 years of work aligns with the progression from Chaum’s eCash in 1983 through Hashcash proof-of-work and b-money to Satoshi Nakamoto’s 2008 Bitcoin whitepaper, a foundation traders reference when assessing protocol durability and tail risk, source: David Chaum 1983 eCash; Adam Back 2002 Hashcash; Wei Dai 1998 b-money; Satoshi Nakamoto 2008 Bitcoin whitepaper. Evidence of global adoption includes El Salvador’s 2021 Bitcoin legal tender law and the U.S. SEC’s January 10, 2024 approval of multiple spot BTC ETFs, which broadened regulated access and liquidity for market participants, source: Government of El Salvador Ley Bitcoin 2021; U.S. Securities and Exchange Commission approval orders January 10, 2024. The April 2024 halving at block 840,000 reduced issuance from 6.25 to 3.125 BTC per block, tightening new supply and adding a predictable issuance schedule that underpins trading models and inventory planning, source: Bitcoin blockchain data at block 840,000 recorded April 20, 2024; Bitcoin Core protocol documentation. Together, the academic lineage, sovereign adoption, and regulated ETF rails create clearer market structure for positioning via spot, CME Bitcoin futures, and ETF vehicles, aiding price discovery across venues, source: U.S. SEC ETF approvals January 2024; CME Group Bitcoin futures and options product specifications.