Bitcoin Is the Proof That Market Fit and Timing Are More Important Than Money to SucceedThe success of Bitcoin should serve as a lesson to all startup founders.
The success of Bitcoin is undeniable. Month after month, block after block, Bitcoin continues to grow. Recently, a study by researchers at the University of Cambridge estimated that the Bitcoin network has passed the 100 million user mark.
This symbolic milestone represents the feeling we all had in 2020 about Bitcoin: the mindset about Bitcoin is changing.
More and more politicians, bankers, economists, corporate executives, and institutional investors are coming to terms with the fact that Bitcoin is here to stay. When you can’t kill a revolution, you must do everything you can to be part of it so that you don’t get left behind.After fighting Bitcoin, many decide to embrace its revolution
It is no coincidence that JPMorgan now offers its banking services on the Coinbase and Gemini platforms. It’s also no coincidence that the Office of the Comptroller of the Currency (OCC) allows American banks to buy and hold Bitcoin for their customers.
PayPal is also working on a project to allow its 325 million users to buy and sell Bitcoin directly from its platform. All of this is a testament to the change in mindset about Bitcoin that we have been able to witness over the past few months.
MicroStrategy’s founder and CEO, Michael J. Saylor, went even further in the summer of 2020 by making Bitcoin the primary treasury reserve asset for his company. As a reminder, MicroStrategy is a Nasdaq-listed company.
MicroStrategy purchased the equivalent of $400 million worth of BTC in two purchases in August and September 2020. MicroStrategy’s strategy will be emulated, and I do not doubt that other large companies will follow suit.
At the institutional investor level, Bitcoin is increasingly seen as the best possible hedge against the great monetary inflation w...