Since 2021, $57B worth of Futures Contracts for Bitcoin have been liquidated. That's probably why you should not gamble, while you can simply just hold that asset.

It is a tale as old as time that if you try to gamble through Leverage or Future Contracts with the market, you will inevitably fucked. We have seen it countless times where the market was able to liquidate both shorts and longs with really about the same move. That's always the intention of the market, to surprise both shorters and people that do long.

Still after knowing this and seeing it countless time happen in the market by yourself, seems like a lot of people just always want to gamble. And that's especially during bull markets.

Cumulative BTC Liquidations since 2021, crossing $57B

Here we can see how the cumulative value from those Future contracts is exceeding $57B, over just the last two years and 8 months since 2021. This is largely supported by many liquidations during the very peak of the bull market.

So it really seems like many were most literally "gambling" just out of sheer FOMO and euphoria. We usually say that everyone is a genius during a bull market, but seems like Leverage and Future Contact buyers even then just deliberately fail.