Despite the bear market, a variety of institutions are doubling down on Bitcoin and crypto, leaving many to ponder whether there is some hidden information, or if they know something that retail doesn’t.
Microstrategy is doubling down on Bitcoin
Microstrategy have been very clear and open about their Bitcoin strategy going forward.
Since Michael Saylor controls 70% of the voting shares of the company, he ultimately has the final say on any decisions that the company makes, and it is for this reason that he decided to step down and become Chair of the Board rather than CEO – he will be able to focus far more on the Bitcoin strategy than the software side of the company.
The software side of the company has grown quite significantly as well in the past few years, and there are currently plans underway to build new software that improves ease with which people can use the Lightning Network, which Saylor believes is the most interesting part of the crypto universe since it can allow anyone and everyone to transact and own digital property with next to zero cost.
In addition to purchasing more Bitcoin with their profits and building solutions to improve the Lightning Network, Saylor is open to the possibility of taking on more debt to acquire Bitcoin in the future.
RealVision doubles down on crypto
RealVision’s founder Raoul Pal has also been very public about his conviction in crypto and stated numerous times that he is heavily invested in the industry.
For this reason, he has expanded his company’s product offering to better foster a community and to offer more educational content.
In fact, the amount of crypto content, and the number of people who consume it, has been steadily rising despite the fall in prices across the board.
Blackrock and large banks enter the market
The largest asset allocators in the world are now coming to participate in the Bitcoin markets, to the glee of investors around the world – this is a hugely significant milestone, given that Blackrock alone controls $10 trillion worth of assets, more than 20x the total market cap of Bitcoin.
Large banks in many different countries around the world have been expanding their product offerings to their clients and adding more crypto services.
Furthermore, the industry has now matured to such an extent that there is sufficient regulation for large asset managers to feel comfortable participating.
Do these institutions know something that retail doesn’t?
The fundamentals of cryptocurrency are such that the public nature of blockchains levels out the playing field and creates a more egalitarian financial system.
Anyone can view every transaction ever made on the Bitcoin blockchain, and companies such as Glassnode provide incredible data insights into what is happening on-chain, from everything to the number of holders to the hash rate.
It is clear, on a logarithmic chart, that Bitcoin has appreciated extremely significantly over the course of the last decade since it has product market fit as a superior store of value. The trend doesn’t appear to be changing any time soon.
Large companies like Blackrock don’t need insider information to recognise that there is an ongoing explosion of innovation that has been enabled by blockchains – this ought to be obvious to anyone who is paying attention.
Earlier Bitcoin cycles were driven almost exclusively by retail investors, but now that the market cap has swelled to such a size, all eyes are focused on the institutional players who are entering the market. As one would expect, these are the players who attract all the attention.
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