I thought about a lot of really dorky, frankly unsophisticated puns to plant throughout the wordsmith maze in this post. I'm goin' more vanilla instead. I don't really know why!? But, sometimes a crypto super hero just needs to lay low, enjoy a sideways-movement crypto Sunday... palm Sunday actually.
I'm going to take on the easier of the two first: Michael Saylor. We'll perhaps deep-dive Saylor some future mark in time, but for now, you know the drill.
Michael Saylor has become incredibly outspoken in defense of a strong corporate strategy to convert profits, borrowing, lending, sales, and numerous organizational strategies over to Bitcoin. In his view, Bitcoin will continue to rise in value indefinitely, while fiat continues to tank indefinitely. It isn't a new idea to follow the rules of traditional banking, inflationary laws of financial physics, and witness the horrible history of exploding deficits. It's smart. It may be among the most bold strategies to put this level of faith in crypto, but it's that kinda bold that gets us talking, right?
I've spent many hours listening to Saylor's breakdown of information he has shared in business conferences, presenting different strategies implemented by others, how they are using Bitcoin in their corporate structure. There's no question he knows of which he speaks. It is refreshing to hear someone seriously financially versed, explain the reality of our present economic situation to the rest of the traditional financial markets, and they are listening. Fortunately for us, the financial district is still a little slow on the uptick, of course they're like a racing horse compared to government policy (I hear a distant 'Amen' from a thousand crypto projects trying to get their 'clarity').
I made a pun that Microstrategy's 'strategy', was actually a macro strategy, as he led the conference for corporate strategies in Bitcoin, but after familiarizing myself with his work a bit better, it seems they already picked up on the pun; nothing clever or original happening here! lol.
The more that Saylor speaks, the more bullish the logic is behind big corporate money moving into the crypto space. We are observing announcements of large chunks of Bitcoin moving off of Coinbase and the like, and we assume these are signs of the HODL at the top of the food chain. Bullish, indeed.
If you read my article about ETF's, then you put that news together and wonder what impact it may have on markets and the price of Bitcoin, when people can essentially gamble on the price of Bitcoin without actually interacting with it, but it is my firm belief, that the loudest voices who make the most sense, will encourage the most people, and companies, to grab the real deal. This will, without question (I have to always add... unless the governments blow it up) lean heavily against the price of Bitcoin due to its scarcity model. I do not believe we will see, in our lifetime, a point at which a SAT cannot be utilized. a $10 Million dollar Bitcoin can still provide a point of entry for people who own a few SATs at a time. It may be an extreme, or an extreme view, but it is exactly what smart folks like Saylor expect.
They speak of Bitcoin with absolute confidence and certainty: "Bitcoin will never stop going up" is the essence of his message. The important thing, is that the world is listening outside of the typical crypto bubble we live in.
And now, Elon Musk. My hope is that this little blurb helps to spark people's awareness that there are some coincidences taking place in the crypto space that are absolutely NOT a coincidence. Like every visionary, Elon Musk is known for taking his battles full head-on regardless of how stupid or crazy people think he is. People like this, visionaries whether you like them or think they are idiots, or even better, crazy, find a niche at the top where no one else ventures, but they do so despite numerous massive failures, and not instead of them. SpaceX, Neuralink, Open AI etc. I'm going to focus on one very important member of that list that no one really thinks or talks about, and that is the PayPal connection! Remember? Oh yeah?
Last year, PayPal made the announcement that it would start launching cryptocurrencies directly into the dashboard for all U.S. customers, and the only change that came was that they had so much success with the pilot program that they launched full-on ahead of schedule. It was massive. It did the ridiculous role all of the rest of the crypto world should have been doing, which is to beef up that all-important trading volume for once-pitiful exchanges like Binance.US, who are now enjoying someone else doing the heavy lifting for them. But hey, they have improved and started actually adding most states to the list, so give 'em the credit they deserve! Musk merged his own email payment system with PayPal decades ago, and we likely would never have become familiar with his name, or his wealth, if that had not been the case. So, we should not be surprised that two of the largest proponents to moving crypto markets come from the same sector of business.
People who do not like PayPal, tend to hate PayPal. They see it as the evil entity of which they wish to break the shackles, but honestly it's just a quicker, usually easier way of doing the exact same thing the rest of the financial industry does, and at the better competitive rate. Others have piled in to offer similar services, handling credit cards for businesses etc., but no one has really changed the model that much. But, crypto is the next step forward, many believe. It is ironic that the supposed driving force enemy of crypto, is helping crypto out in mass adoption many times over; perhaps a lesson the crypto space should learn from. Sometimes strategic partnerships are silently what most people want, as long as they can continue to publicly scrutinize such things.
So, one has to ponder whether Elon Musk benefits not only from the upward price of Bitcoin, but also the positive impact stock ownership in companies that benefit from crypto could realize? Nah... no wondering... its a given.
So, what we see is that one thing better than a shill, is an announcement that is not only a boost to price action, but also happens to be true. When Elon announces you can buy a Tesla with Bitcoin, he's essentially patting himself on the back twice, and he doesn't have to lie to get the job done. Elon can announce mining Doge with his family, and he shouldn't be in trouble with any authorities for doing so, but Doge Pamps certainly seem to hear the clarion call when it comes!
The bottom line here, is to watch, wait, listen, and pay close attention to what the bold top-dogs of business are saying and doing as it relates to the crypto markets. They tend to avoid claims that fall on the face, but they also back up their comments with solid action. I think they have a vision of what will come, what they believe shall come, and they want people to take notice. It benefits them, but it also shapes a new industry where we may all play a role. I don't think it is empty optimism or hot air, but it doesn't mean the price is actually guaranteed to go up. Again, the stinking governments... they truly can ruin everything. It's hard to control populations when they find a path to freedom. That is an ideal of crypto that hasn't gone away, even if Visa says crypto is kewl.
I believe the answer to this thought piece is "yes"... yes they can make substantial positive price action waves in strategic posts and announcements, and frankly I'm good with that. Sometime soon, I may write about concerns I have for Saylor's over-optimism and sometimes slightly rude slants against those who question his authoritative status on crypto, but overall, I admire the guts it takes to stand out front in corporate strategies that happen to place hundreds of millions of declining dollars at risk. It's a strong hand being played, and we are all here to watch how it goes. Pretty cool, if you ask me.
For now, until the next thought enters my brain... Crypto Gordon Freeman out.