- Microstrategy
- Paypal
- Venmo
- Tesla
- Apple
- Microsoft
- Oracle
- Amazon
- Sony
- IBM
- Yahoo
- SanDisk
- Hewlett Packard
- Netflix
- Hulu
- Toshiba
- Panasonic
- Sun Microsystems
- Ebay
- etc etc etc
The SEC reveal of Musk pulling the trigger on $1.5B worth of Bitcoin is no small matter. This could easily create a chain reaction of any and all tech companies buying into BTC. Talk about supply crunch.
This is especially true considering all the work Michael Saylor is doing to make it logistically simple for corporations to make the transition. 6000 corporations just got taught how to buy Bitcoin any why they should do it, and now they see tech geek Musk dip his toes in and the price spikes just upon the news being revealed.
Is that it? Is that where Tesla bought in to the market? Could be... I thought that was a pretty strange pump. And as we all know Elon is as strange as they come.
The writing is on the wall.
Corporations wanted to control this tech. They spent billions on enterprise blockchains, only to all realize the value of this tech is exactly that they aren't in control. They are coming to embrace that, because Bitcoin offers a better deal than the central banks.
Central banking has been eating the lunch of sharks for quite some time, and this has been allowed because there were no other options. Bitcoin provides the option to opt out, and it got big enough to get the attention of the big boys. Now they want in.
So what's better?
The stable asset guaranteed to lose value over time?
Or the volatile unicorn asset doubling in average value every year?
More and more corporations will be changing their minds over time.
After all, these are RESERVE assets we are talking about.
It's not like corporations are looking to gamble with their hard-earned monies: that's why Bitcoin was never considered; the gamble was too great. Now it's becoming apparent to them that the reward far outweighs the risks. Expect this trend to continue for the entire decade.
Holders gonna Hodl.
The bearish scenario is still certainly possible: Bitcoin to $20k. Anyone worried about that should exit the market another point or two. As a diehard holder I'm not too worried about it at the moment. I held and dollar cost averaged down on Steem from $2.60 to $0.10.
I can hold anything :D
It shouldn't be hard to hold during a mega bubble year, but I'm sure many will panic and sell out early. $100k Bitcoin is going to be a big mental barrier for a lot of us. Personally I expect it to go at least to $250k and at most $400k.
Conclusion
Tech companies have the most to gain from buying Bitcoin. They can use the network to build out abundance technology and make a mint. Everyone else is just along for the ride.
The only option corporations ever had was to bend the knee to central banking. Now as we see the system buckling under the pressure of its own corruption, rats are jumping ship. Sorry, did I say rats? I meant sharks.
We can always count on at least some people to be greedy and act in their own self-interest. Bitcoin has now grown enough to attempt to compete with the legacy economy. I'm sensing some growing pains are in order a year down the line. No one said scaling up was a painless process.
On a certain fundamental level it's not really about making money. Are we really going to let all these greedy goblins get in cheap without charging them the HODL tax? Get out of here with that $50k bribe I'll be back to consider at $250k.
Posted Using LeoFinance Beta
Return from 2021: The Year that every tech company bought Bitcoin. to edicted's Web3 Blog
