Author: Anthony Pompliano, Founder of Professional Capital Management; Translated by AIMan@Golden Finance.
Proponents of Bitcoin and cryptocurrency are taking over Wall Street.
Here are the news headlines from the past 24 hours:
1. Coinbase joined the S&P 500 index.
2. David Bailey founded Nakamoto, a Bitcoin reserve company that raised over $700 million.
3. DeFi Technologies began trading on NASDAQ.
4. Microstrategy purchased 13,390 Bitcoins.
5. Metaplanet purchased 1,241 Bitcoins.
6. American Bitcoin Mining announced a partnership with Gryphon Digital Mining for a reverse merger (RTO).
This list is not exhaustive, but it highlights the rapid pace at which traditional finance is embracing digital assets. It's logical to think that Wall Street investors and companies have been looking for new shiny toys.
Bitcoin and cryptocurrency have brought more clients, more assets, more revenue, and more profits. Wall Street favors all four. As we continue to see traditional participants with forward-thinking mindset profiting from this emerging industry, we should foresee numerous followers eager to replicate such success.
There will be more Bitcoin reserve companies. There will be more IPOs, SPACs, and RTOs. There will be hedge funds buying ETFs or looking for the next asymmetric betting opportunity in the field. Additionally, there are numerous private companies preparing to enter the public market.
Cryptocurrency is hitting Wall Street.
But rather than saying this is the story of Wall Street being disrupted, it is more about the growth of Bitcoin and cryptocurrency. Guess who is making money by going public through reverse mergers (RTO)? Wall Street banks. Guess who makes money every time Strategy buys more Bitcoin and drives its stock price up? Wall Street hedge funds. Guess who makes money when Coinbase enters the S&P 500? Wall Street asset management firms and index fund investors.
The fact is—Wall Street is not foolish. They foresaw the coming wave and have been prepared to ensure they profit from it. BlackRock and Fidelity have the two largest Bitcoin ETFs. This is not by coincidence.
So every time I see news headlines like yesterday's, I can't help but laugh. With the growth of Bitcoin and cryptocurrency, almost all market participants, whether newcomers or challengers, are making money. There are still some fools shorting this asset, but they usually can't hold out for long. In this case, the only real losers are those who choose to sit on the sidelines of this revolution.
They stand by and watch those smart enough to understand this new technology create trillions of dollars in value. This is how the system works. Those who dare to take risks should be rewarded.
The beauty of it is that anyone can participate. You don’t need to be wealthy, you don’t need a high education, and you don’t need to come from a certain family. You just need an internet connection and a bit of initiative to get started.
What a wonderful time to live in! Our decentralized Bitcoin community is slowly but steadily rising to a position of supremacy in finance and society. We’ve made it to the S&P 500 index. We are attracting capital. We’ve even made our way into the White House.
Satoshi Nakamoto must be very proud. Imagine what we will accomplish in the next 15 years...
