Below is what I wrote almost exactly 5 years ago when @MicroStrategy became the first public company to put bitcoin on their balance sheet. Bitcoin was a 200 billion market cap at the time. Today it is more than 2 TRILLION. I think this analysis has held up pretty well. ---- "We now have a publicly traded corporation that has decided to use Bitcoin as the reserve asset on their balance sheet. They aren’t in the Bitcoin business. They have no blockchain-based products. This isn’t a cash grab by adding “blockchain” or “crypto” to their name. This is a simple analysis done by a team that is worried about protecting their shareholder value in uncertain and chaotic times in the macro economy. MicroStrategy won’t be the only company to do this. Eventually, most companies will add Bitcoin to their treasury. They will probably start small and then ratchet up to a majority percentage at some point in the future. This trend will take awhile to get underway, but it is the natural progression in adoption. First, we saw individuals start to convert their “balance sheet” dollars into Bitcoin. It began on the fringes and then has become more mainstream. The initial conversions were small percentages of total wealth, but now there are many people I know with majority of their wealth denominated in Bitcoin. Next, we will see corporations doing this. We obviously don’t know what has happened in the private markets, but we know that a publicly traded company just did it. It will start with smaller market cap companies and then eventually take hold with larger corporations as well. Lastly, every central bank in the world will add Bitcoin to their reserves. This has been rumored as an option by nefarious governments such as Venezuela already, but I anticipate we will see all of them do it — large or small, good actor or bad actor. The reasoning behind why individuals, corporations, and central banks will move to Bitcoin as the reserve asset is simple. It is sound money built for a digital world. The provable scarcity of Bitcoin will lead to a higher US dollar value as demand for the artificially capped supply sees material increases in demand. Think about this for a second — we have essentially seen 200 billion of market cap created by retail investors. There were very few institutional investors, large corporations, or governments participating in Bitcoin’s previous rise. As those large capital pools begin to enter the game, we should see an acceleration of adoption and USD price. The macro environment has definitely accelerated the inevitable. People are looking for a way to protect their wealth or that of their shareholders. Bitcoin has always served as a great tool for that purpose. Now the corporations, and soon the central banks, are waking up to the information that the individuals have known for years."(Anthony Pompliano 🌪)