For many people in this space, crypto offers an opportunity to hold an immutable digital asset that is free from government control as depicted by @edicted in this fascinating post about circumventing taxes and isn't shackled by the fundamental as @chekohler always reminds me.
Outside of these fundamentals, of sorts, individuals and corporate bodies with a keen eye for spotting value have also seen the immense potential embedded in these cryptographic codes that run the blockchain. People like Michael Saylor, for example, have been in the spotlight lately, as the previous detractor of Bitcoin dramatically rescinded some of his statements in 2013 and has been stacking bitcoin in the droves.
For the CEO of Microstrategy, Bitcoin represents something beyond the current value, evident in the fact that the roughly 42k Bitcoin bought around $500million will be locked away for at least 100 years. In recent times, Michael can be found on Twitter, aggressively shilling Bitcoin to Elon Musk
While reading these tweets from these Billionaires might be a tad bit overwhelming, the main point to take from this is the fact that astute businessmen are considering moving such huge sums to Bitcoin.
From one rocket scientist to another, this sort of move is clearly about securing the future of their businesses and getting an edge over the competition. Despite being around for 12 years, Bitcoin and Blockchain technology is a relatively new concept. In the face of a recession, quite similar to the one that was in full swing when Bitcoin came into existence, big corporations are putting their weight behind the asset class, thus pushing it towards a glittering future.
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Microstartegy is been buying BTC at almost any price and whoever buys at near $20,000 is definitely not planning at $22,000 or $23,000. Long term views make the most money to be made.
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Oh it is definitely a long term project and that absolutely thrills the fuck out of me.
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these are the things that make me think that we are at the gates of the creation of another great bubble where investors take a position with a BTC at 15k and after creating the critical mass and reaching over40k they sell aggressively and then buy back at a value of 10k and thus make billions plus the amount of initial BTC a game that is repeated from time to time.
That's an interesting view. I think these big players are looking at getting a bigger score from this recent rally. My guess is that $100k per Bitcoin is their sell target, thus pushing their company's worth closer to trillion dollars. Just speculation anyways.
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If these billionaires use bitcoin it is because it is worth it, these people only know how to make money, it would be rare for them to lose money.
Your summary actually simplifies it. I'd rather buy or be around where billionaires believe there's potential
Cryptocurrencies and the Future = Long-term combination full of good and bad feelings, haha!
Hopefully more good than bad will come out in the future