Month: November 2024

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Today, MicroStrategy (MSTR) surpassed a $100 billion market cap to become the 93rd largest publicly-traded company in the U.S.

At the time of writing, MSTR has done more trading volume than both stock giants Tesla and Nvidia today, and has traditional stock traders like the Wall Street Bets community losing their minds.

Wow $MSTR is the most traded stock in America today.. to best $TSLA and $NVDA is crazy. It’s been years since a stock has traded more than one of those two (it may have actually been $GME to last do it). It’s also about double $SPY! Wild times.. pic.twitter.com/bUr8nycMX3

— Eric Balchunas (@EricBalchunas) November 20, 2024

 This is absolutely mindblowing considering MicroStrategy was a mere $1 billion company when it first bought bitcoin for its treasury about four and a half years ago.

MicroStrategy’s market cap from when they first bought Bitcoin to now

The big question I’m asking myself is, how and when does this end? Assuming MSTR continues to pump until the peak of this bull market, it’s anyone’s guess on how high MSTR may go.

But how hard will it crash in the bear market, considering it is essentially a leveraged trade on bitcoin? Dare I even suggest that this time may be different, and that the downside of the next bitcoin bear market won’t be as brutal as the 70%+ corrections we’re historically used to seeing?

Even with the spot bitcoin ETFs, and the notion that the US may lead the charge of nation states buying up mass amounts of bitcoin, I’m still not convinced that we don’t eventually see a massive downturn in bitcoin’s price. And I’m mentally preparing for a normal bitcoin bear market to commence after this bull market finishes sometime in the next year or so.

But back to MSTR — Michael Saylor has thus far proven that the Bitcoin for Corporations strategy works in stunning fashion. Public companies have been coming out of the woodwork this past week announcing that they’ve purchased bitcoin for their balance sheet or plan to do so, and it seems this trend will continue as the CEO of Rumble asked his X audience if he should add BTC to their balance sheet (almost 94% of his 42,522 voters voted “yes”).

Lets put this in a poll format…

Should Rumble add Bitcoin to its balance sheet?

— Chris Pavlovski (@chrispavlovski) November 19, 2024

 Michael Saylor even offered to help explain how and why Rumble should adopt a corporate BTC strategy.

Institutional bitcoin adoption is here and it’s only going to grow for the foreseeable future. As companies figure out the logic behind adopting bitcoin as a strategic reserve asset, the number of publicly-traded companies that adopt this strategy is going to explode.

Companies that add bitcoin to their balance sheet will rise above most other companies — even top big tech giants — in terms of trading volume, as MicroStrategy has, until all companies add bitcoin to their balance sheet. I try to put myself in the shoes of a trader, with knowledge on Bitcoin and think to myself, “Why on earth would I buy any company’s stock if they don’t have bitcoin on their balance sheet?” I wouldn’t — it would be way too boring.

Putting BTC on the balance sheet helps create volatility, and therefore opportunity for stock traders, which is good for the traders, stock price, and company overall. If you are a publicly-traded company, it is a no brainer to adopt bitcoin as a treasury reserve asset.

This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

Today’s modern Bitcoin exchanges have drastically improved access to Bitcoin ownership in 2024. Gone are the days of janky peer-to-peer (P2P) trade forums and questionably secure early exchanges like Mt Gox. Instead, a legion of Bitcoin on-ramps focused on superior security and user experience (UX) has made purchasing your first Bitcoin a breeze. Many of these services have even embarked on education-focused initiatives to encourage greater adoption during Bitcoin’s most recent bear market. In November 2023 Swan launched Welcome to Bitcoin, their free introductory 1 hour course about Bitcoin. In December 2023, Cash App released BREAD, a free, limited-edition magazine that uses design to tell stories and educate readers about Bitcoin in a relatable and accessible way.

What these initiatives show is that Bitcoin adoption is approaching a turning point. These two major Bitcoin exchanges, along with the industry as a whole, are discovering that easy access to a smash buy button does not guarantee purchase. Numerous barriers to entry still exist for nocoiners, which provide significant constraints to understanding Bitcoin, and thus throttle Bitcoin’s growth and adoption. As we approach a steeper incline in Bitcoin’s bell curve, throwing novices into exchange apps without sufficient education and cultivation is no longer a strategy for success.

@Vivek4real_

What once was a far simpler task of energizing early adopters and cypherpunks around Bitcoin’s clear value proposition, is evolving into a more complex and convoluted process of orange-pilling the early majority of future Bitcoin holders. This, we hope, will then lead to widespread Bitcoin mass adoption as society en masse chooses to store its time and energy in the best money ever created. For this hyperbitcoinization to occur, more people need to understand the intricacies of Bitcoin. This is easier said than done because Bitcoin still has an education problem:

An Economist Intelligence Unit study reported that 51% of people said a lack of knowledge is the main barrier to Bitcoin ownership.A YouGov survey found that 98% of novices don’t understand basic Bitcoin concepts. A nationwide survey from the Yale Center discovered that 69% of young people find learning boring.

This research outlines the struggle of onboarding and educating the next generation of Bitcoiners, most notably younger generations who have been shown to possess a limited attention span of 8 seconds. For inspiration to help solve this problem, we can look at one of the most popular mobile games of all time… Pokémon GO.

pokemongolive.com

Pokémon GO was and remains to be, a global phenomenon. This beloved app caught the attention of Gen-Z, millennials, and Gen-X alike, boasting record-breaking engagement stats:

In 2016, the game peaked at 232 million active players.Pokémon GO has grossed over $6 billion in revenue.In 2024, 24% of 18–34-year-olds in the US are playing Pokémon GO, while 49% of 35–54 year-olds are playing.

We at Jippi believe that the success of this award-winning game can illuminate the path forward for Bitcoin adoption. So we have set upon the electrifying task of building Tribe Clash–the world’s first Pokémon GO-inspired Bitcoin education game. The rules are simple, create or join a Tribe and battle for dominance over a city with your friends by catching a Bitcoin-themed Beast in every Territory.

Each week Jippi will release a new Territory to be claimed. A Tribe member will explore that Territory with their phone, where they will discover a Bitcoin Beast to catch. If they successfully answer all Bitcoin quiz questions correctly the fastest, they will then catch that beast. The Tribe with the most Territories and Bitcoin Beasts at the end of the game will win $30k worth of Bitcoin to be dispersed equally to each Tribe member.

Our vision is for Jippi to become the largest, most popular platform for beginners to gather, educate, and accumulate Bitcoin. We see Jippi as the most accessible on-ramp into the industry, where we can educate a whole new generation of Bitcoiners from novices to experts by lowering the barrier to entry.

You can support the development of Tribe Clash by contributing to our crowdfunding campaign on Timestamp. Timestamp enables investors of all backgrounds to support Bitcoin-only companies and make an impact. Our campaign is open to both the general public and accredited investors, so we would love for you to join us on this journey.

This is a guest post by Oliver Porter. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.