Gold bugs argue (correctly in my opinion) that price is suppressed and the physical is easily co-opted by the State. How and why have the unholy alliance of State and Corporation done that? How and why would they seek to do similar to Bitcoin?
Corporations are, by definition, co-opted by the State. They exist at the whim of the lawmakers. While it cannot be stopped in any meaningful way, massive accumulation of bitcoin in the hands of corporates (especially those who do not use it or accept it as payment) diminishes the utility of bitcoin as a monetary network, and I suspect it is also a drag on price.
Saylor very well could be a plant, marketed as a bitcoiner when, in fact, he is a Trojan horse for the State. It doesn’t really matter if true or not, because the end result is largely unchanged, but it is worth thinking through what happens if one entity ends up owning 50% of the btc in circulation? What happens if they own 60%/70%/100% …? does it diminish the network? Why does Saylor only advertise BTC as a SoV and not a MoE when the distinction is faux anyway?
Why was he allowed to pursue this strategy (pun) when barely anyone else has followed and people like Ulbright et al were prosecuted and put behind bars? It’s worth questioning and remaining cautious.
I’m a skeptic, always will be. I prefer to see individuals owning and using bitcoin. The freedom and the privacy are far more valuable than anything else.
Thanks Andoni. The beautiful thing about bitcoin is that individuals owned it first the countries and the corporations came later. I’ve met him. I’ve been to his house. He isn’t a plant.
I’m a gold bug too. I love gold. I’ve written an entire book about it. There is room for both in your portfolio and I urge you to buy a small amount of bitcoin and try it out and consider the implications of this extraordinary technology. :).
Thanks for the response. I do like Saylor and your opinion adds a lot of weight, but I still maintain that corporate balance sheet adoption is inferior to man on the street.
And, as you say, the beauty is individuals were first movers by a long margin so we have the advantage.
I am very much a holder of btc. I wish I could spend it in more places, I wish people would pay me using bitcoin. It is underappreciated and underutilized and Saylor is missing a big part of the mission when he only emphasizes SoV.
Thanks Andoni. I jumped to conclusions and thought you were a gold bug saying bitcoin is a scam etc.
I think in the world of digital nomadery and cross border payments bitcoin finds a lot of use as a medium of exchange, but the reversion does seem to be fiat.
And if we are not careful at a certain point Saylor will own every bitcoin if we are not careful which is another danger but the network is growing which is the main thing
I bought recently a very small Part of CEP (Cantor Equity Partners) which is teaming up with Tether, Bitfinex & Softbank to Launch a new BTC Investment Company, Twenty One Capital. Feels like the institutional BTC Wave is just getting started.
Hi Dominic, great piece as usual. I just wondered if you were aware of the Smarter Web Company. They IPO'd last month on Aquis and are the first company in the UK to dedicate to a Bitcoin treasury. They are Bristol-based and like Strategy are a real-life company doing the btc treasury as a strategic sideline. Such has been their popularity they have just done a second raise just a few weeks after listing. CEO Andrew Webley is very approachable. Best regards, Chris True
I do believe ( as usual ) your right. More and more are seeing the Saylor model
Thank you!
If I could offer my somewhat dissenting opinion:
Gold bugs argue (correctly in my opinion) that price is suppressed and the physical is easily co-opted by the State. How and why have the unholy alliance of State and Corporation done that? How and why would they seek to do similar to Bitcoin?
Corporations are, by definition, co-opted by the State. They exist at the whim of the lawmakers. While it cannot be stopped in any meaningful way, massive accumulation of bitcoin in the hands of corporates (especially those who do not use it or accept it as payment) diminishes the utility of bitcoin as a monetary network, and I suspect it is also a drag on price.
Saylor very well could be a plant, marketed as a bitcoiner when, in fact, he is a Trojan horse for the State. It doesn’t really matter if true or not, because the end result is largely unchanged, but it is worth thinking through what happens if one entity ends up owning 50% of the btc in circulation? What happens if they own 60%/70%/100% …? does it diminish the network? Why does Saylor only advertise BTC as a SoV and not a MoE when the distinction is faux anyway?
Why was he allowed to pursue this strategy (pun) when barely anyone else has followed and people like Ulbright et al were prosecuted and put behind bars? It’s worth questioning and remaining cautious.
I’m a skeptic, always will be. I prefer to see individuals owning and using bitcoin. The freedom and the privacy are far more valuable than anything else.
Thanks Andoni. The beautiful thing about bitcoin is that individuals owned it first the countries and the corporations came later. I’ve met him. I’ve been to his house. He isn’t a plant.
I’m a gold bug too. I love gold. I’ve written an entire book about it. There is room for both in your portfolio and I urge you to buy a small amount of bitcoin and try it out and consider the implications of this extraordinary technology. :).
Thanks for the response. I do like Saylor and your opinion adds a lot of weight, but I still maintain that corporate balance sheet adoption is inferior to man on the street.
And, as you say, the beauty is individuals were first movers by a long margin so we have the advantage.
I am very much a holder of btc. I wish I could spend it in more places, I wish people would pay me using bitcoin. It is underappreciated and underutilized and Saylor is missing a big part of the mission when he only emphasizes SoV.
Thanks Andoni. I jumped to conclusions and thought you were a gold bug saying bitcoin is a scam etc.
I think in the world of digital nomadery and cross border payments bitcoin finds a lot of use as a medium of exchange, but the reversion does seem to be fiat.
And if we are not careful at a certain point Saylor will own every bitcoin if we are not careful which is another danger but the network is growing which is the main thing
Has it rebranded / renamed? My holding doesn’t reflect this yet.
A minor point…
I saw Charlie Morris is not a fan.
But possibly only because it trades at a premium.
He doesn’t like it. I don’t think he describes as much value to the Saylor premium as others.
I bought recently a very small Part of CEP (Cantor Equity Partners) which is teaming up with Tether, Bitfinex & Softbank to Launch a new BTC Investment Company, Twenty One Capital. Feels like the institutional BTC Wave is just getting started.
No kick it out
Hi Dominic, great piece as usual. I just wondered if you were aware of the Smarter Web Company. They IPO'd last month on Aquis and are the first company in the UK to dedicate to a Bitcoin treasury. They are Bristol-based and like Strategy are a real-life company doing the btc treasury as a strategic sideline. Such has been their popularity they have just done a second raise just a few weeks after listing. CEO Andrew Webley is very approachable. Best regards, Chris True
I wasn’t aware of that company. I shall take a look. Thank you.
Cool, I think he'd be up for an interview