RE: The Microstrategy news just gave Bitcoin even more staying power than it had before...
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If that happens you will have to look behind you to see the moon.
Perhaps they will or most likely have been acquiring bitcoin. There are all of the good reasons that Michael discussed in the podcast with Pomp, but I don't see that as the top risk for the mega companies you note. I could see them starting to take payments in bitcoin and holding that while spending their cash reserves. This would let them acquire bitcoin with minimal board and compliance changes. All of them deal and hedge in multiple currencies.
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Yes that is a good point. Though with not many people using it currently as a form of payment, I am not sure there would be a rush from their customers to start using it... I still think we going to see a lot of companies picking up some BTC as a reserve asset. Will they put 100% of their cash into BTC? Probably not. However, will they put something in the realm of 1%-10%? I could see a whole lot of em going down that path... And with literally trillions sitting on corporate balance sheets, if bitcoin takes 1-10% from that, it will put the price in an entirely different price range.
There will be a few more companies put their foot in the bitcoin pool and Michael laid out the road map very well. I see these things going in cycles the new now is Microstrategy and there will be more, this will dry up liquidity and push the price up. These companies are doing this as risk on for the dollar, but I think the next cycle is a group that is in desperate need to raise capital, retirement funds. There has been a lot of buzz in the crypto circles about this and when they see the yoy returns they too will put those 1-10 % foots in the pool. Then there is no turning back because at that time retail will move in as the price will dominate the news.
The questions is what pushes bitcoin above 1m? I'm thinking governments and that is when the fun begins.
I am already in a paradigm where bitcoin is 500k ;) Now if I could have the same faith in hive.
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It could happen. I think if bitcoin breaks $200k I think it's a given it eventually goes over a million. Just gotta get it up there.
Regarding HIVE... I am not sure the best way to make it more valuable, but we have seen for 4 plus years now that the currently model doesn't really work...