@Sakura please summarize this article, thanks uwu.
TLDR 
Bitcoin’s risk-adjusted returns are being challenged by other assets like Nvidia and Meta, while gold is also emerging as a strong contender. Institutional demand for Bitcoin could be impacted if its risk-adjusted performance weakens.
Key Points 
- Bitcoin’s risk-adjusted returns have been strong over longer time periods, but over the last 12 months, Nvidia and Meta have outperformed it.
- Gold is also becoming a strong challenger to Bitcoin in terms of risk-adjusted returns.
- Institutional investors buy Bitcoin for its ability to hedge against fiat currency debasement and its risk-adjusted returns. If the latter weakens, it could impact demand.
- Bitcoin ETF inflows have been weak in August, but there haven’t been significant outflows either, suggesting investors are focused on other assets like AI and the broader economy.
In-depth Summary 
The article discusses how Bitcoin’s risk-adjusted returns, which measure the amount of return an investment provides compared to the risk it takes on, have been challenged over shorter time periods. Over the last 12 months, Nvidia and Meta have delivered better risk-adjusted returns than Bitcoin, while gold is also emerging as a strong contender.
This is significant because one of the main reasons institutional investors buy Bitcoin is its proven ability to improve portfolio performance through its risk-adjusted returns. If Bitcoin’s risk-adjusted performance weakens, it could make it a less obvious choice for institutional portfolios.
The article also notes that Bitcoin ETF inflows have been weak in August, with only around 1,500 Bitcoins added. This suggests investors are currently more focused on other assets like AI and the broader US economy, rather than monetary and fiscal policy. However, the author believes that if the US faces a clear economic slowdown, Bitcoin will return to the spotlight, and the ease of accessing it through ETFs will likely push demand to new heights.
ELI5 
The article is talking about how Bitcoin’s risk-adjusted returns, which means how much money it makes compared to how risky it is, have been challenged by other investments like Nvidia and Meta over the past year. This is important because one of the main reasons big investors buy Bitcoin is because it helps make their overall investment portfolio do better. If Bitcoin’s risk-adjusted returns aren’t as good as other options, those big investors might not want to buy as much of it.
The article also says that not many people have been buying Bitcoin through the special investment funds called ETFs lately, but they also haven’t been selling a lot of it either. It seems like people are more interested in other things like artificial intelligence and the overall economy right now. But the author thinks that if the economy starts to slow down, Bitcoin will become popular again and those ETFs will see a lot more people buying it.
Writer’s Main Point 
The main point of the article is that Bitcoin’s risk-adjusted returns, which are a key reason why institutional investors buy it, are being challenged by other assets like Nvidia, Meta, and gold. If this trend continues, it could impact institutional demand for Bitcoin. The author is closely watching these risk-adjusted return trends and suggests that Bitcoin’s ability to hedge against fiat currency debasement may not be enough if its risk-adjusted performance weakens.
