Tempering Enthusiasm For Corporate FOMO. Bitcoin Fixes This #209
Microstrategies isn’t the only company to invest a ton of money into Bitcoin. Square revealed that they invested $50M into Bitcoin making this a trend. More importantly, they published exactly why. This is an obvious template that they’re hoping other companies will use to justify buying Bitcoin.
Bitcoin has always had this virtuous cycle. Those that buy it want other to buy it and become the best evangelists. At the retail level, this has been true for a very long time. I’m sure many of you reading this newsletter have talked to your friends and family about buying Bitcoin, for example. There are a lot of aligned incentives here. If you can get other people to buy Bitcoin, it makes your own investment better. To get other people to buy is not a simple thing and generally Bitcoin holders learn to explain Bitcoin and the case for Bitcoin over and over.