The Suits Are Coming
Michael Saylor Says Institutions Are Coming to Bitcoin — For Real This Time
This past week, I went to Las Vegas to cover MicroStrategy’s Bitcoin for Corporations conference for Bitcoin Magazine.
It was a whirlwind if a 65 hour trip during which I interviewed a number of heads of Bitcoin companies — including Michael Saylor himself — about how corporations and other institutions are preparing to use Bitcoin as a store of value, a medium of exchange or a trusted platform on which to build.
I highlighted some of the main takeaways in the following piece (click image to read the article):
How do I feel about corporations adopting Bitcoin? Good question.
I have mixed feelings.
On the one hand, Bitcoin is for everyone and if Bitcoin is to become more widely adopted, then obviously corporations will have to engage with it.
On the other hand, I like that Bitcoin has been largely a retail investor-driven phenomenon, and I fear that we’re going to have to do a lot of pushing back against excessive regulation now that major institutions are here.
I have no doubt that the US government in conjunction with Wall Street will try to get as much BTC as possible into walled gardens in the next few years.
I care most about people being able to use Bitcoin privately and permissionlessly, and I believe the powers that be are only going to ramp up their efforts to stop both in the coming years, especially as the institutions come in and as the US government further loses control of the monetary and fiscal situation.
Bitcoin Mining Is Dangerously Centralized
In other concerning news, the Bitcoin mining landscape has become dangerously centralized.
I recently discussed this issue with Alejandro De La Torre, co-founder and CEO of DEMAND Pool, the first Bitcoin mining pool to run completely on Stratum V2.
De La Torre’s aim in starting DEMAND is to decentralize Bitcoin mining — to bring more solo miners online to combat the centralization amongst major mining pools.
Read more in the latest edition of my Founders series for Bitcoin Magazine here (click image to read the article):
Or listen to a conversation with De La Torre this week here (click image to listen to replay of the X Spaces):
Here’s A Stuttering Fool For Your Enjoyment
Lastly, if you’d like a good laugh (or cry, if you aren’t that cynical), I highly recommend you watch the video to which I’ve linked below (click image blah blah blah).
In it, Jared Bernstein, Chair of the Council of Economic Advisors to President Joe Biden, stumbles over his own words for about a minute and half trying to explain why currency-issuing governments borrow their own currencies.
The man is a bumbling idiot, which wouldn’t be so sad if he weren’t an advisor to the President of the United States
It’s truly sad that people like this are the ones burying you in debt, making your life exponentially more difficult from a financial standpoint.
It’s people like this that remind me just how important it is that Bitcoin exists, as Bitcoin is the antidote to the issues that these people create.
That’s all for this week. Here’s to a fantastic week ahead!
Big love and big hugs.
Best,
Frank
X | LinkedIn | YouTube | Instagram | Spotify | Apple Podcasts | Fountain
Nostr: npub1dnzzyhmewrzkh862z7z2shwmhh5htx0rvkagepj2fkgst9ptwg3qj4x52h
