The Case for Putting Bitcoin on Corporate Balance Sheets
As governments and central banks compete to debase their currencies on a global scale, corporations are seeking protection in the form of Bitcoin.
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Tesla Accepting BTC for Payment, Hodling It, and Running Nodes - Case Bitcoin
Tesla CEO Elon Musk tweeted overnight that Tesla is now accepting bitcoin for car purchases, and that they will hold any received BTC instead of converting it to fiat (dollars).
Musk further noted that Tesla is using open-source BTC payment software to handle the payments, as well as running their own Bitcoin nodes directly - ie, instances of the software that form the core fabric of the globally distributed bitcoin network.
FATF RECOMMENDS HEIGHTENED RESTRICTIONS ON VIRTUAL ASSETS AND SERVICE PROVIDERS - Bitcoin Magazine
The Financial Action Task Force (FATF) has updated its “Guidance for a risk-based approach to virtual assets and VASPs.” Previous FATF guidance, released in 2015 and updated in 2019, has recommended regulating virtual assets in a similar way to traditional finance, mandating customary KYC/AML laws that affect most financial entities.
The Case for Putting Bitcoin on Corporate Balance Sheets
by Michael Saylor | March 22, 2021 | 1 hour and 5 minute video
As governments and central banks compete to debase their currencies on a global scale, corporations are seeking protection in the form of Bitcoin. In this webinar, we will hear from Microstrategy CEO Michael Saylor on how he wrote the playbook, why companies are buying Bitcoin, and how to hedge against an uncertain future.
Here is an absolute gem:
“CPI is a misleading measure of inflation. It isn’t measuring the rate of asset inflation or the elite’s price inflation, like say, a Hampton’s house….The longer the rate of money supply expands, it will be a detriment to the assets that are based upon future cash flows... Cash equivalents are now toxic.
So when we inflate the money supply by 24%, that means that on Wall Street, people that own assets did nothing to make 24% more money. And that means on Main Street, people that create things for a living, that manufacture things, had to work 24% harder to get nothing.
You literally tilted the football field and everybody on the manufacturing side has to generate 24% more cash flow after tax. By raising your prices, expanding your customer base, or by finding efficiencies, you have to do 24% more work to have the same purchasing power that you had a year ago.
And on Wall Street, if you own that asset, you had to do nothing. You could have sat in your floaty in your Hampton swimming pool and watched the stock market and you would have 24% more purchasing power. That is the dichotomy.
And when the money supply expands 24% a year, your business has no value. I guess another way to say that is if I told you every human being on earth can't get a 24% raise every year for the next 20 years, they should lose their job.”
Watch the full video here.
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Elon also pinned this tweet to his Twitter profile:
Going Viral
One year ago, the historic interview took place. Watch the full 13 minute interview here.
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