Author: Anthony Pompliano, Founder of Professional Capital Management; Translated by: AIMan@Jinse Finance
Bitcoin and cryptocurrency enthusiasts are taking over Wall Street.
Here are the headlines from the past 24 hours:
1. Coinbase joins the S&P 500 index
2. David Bailey founded Nakamoto, a Bitcoin reserve company that raised over $700 million
3. DeFi Technologies begins trading on Nasdaq
4. Microstrategy purchased 13,390 Bitcoins
5. Metaplanet purchased 1,241 Bitcoins
6. American Bitcoin Mining announces a reverse takeover (RTO) merger with Gryphon Digital Mining
This list is not exhaustive, but it highlights how quickly traditional finance is embracing digital assets. It makes sense when you consider that Wall Street investors and companies have always been looking for the next shiny toy.
Bitcoin and cryptocurrencies bring more customers, more assets, more revenue, and more profits. Wall Street is fond of these four aspects. As we continue to see forward-thinking traditional participants profiting from this emerging industry, we can anticipate that many followers will be eager to replicate such success.
There will be more Bitcoin reserve companies. There will be more IPOs, SPACs, and RTOs. Hedge funds will buy ETFs or seek the next asymmetric bet in this field. Moreover, numerous private companies are preparing to enter the public market.
Cryptocurrencies are attacking Wall Street.
But this is more a story of Bitcoin and cryptocurrency growth than a story of Wall Street being disrupted. Guess who's making money through reverse takeover (RTO)? Wall Street banks. Guess who profits when Microstrategy buys more Bitcoin and drives its stock price up? Wall Street hedge funds. Guess who benefits when Coinbase enters the S&P index? Wall Street asset management companies and index fund investors.
The fact is—Wall Street is not foolish. They foresaw this wave and have prepared to profit from it. BlackRock and Fidelity own the two largest Bitcoin ETFs. This is no coincidence.
So every time I see headlines like yesterday's, I can't help but laugh. As Bitcoin and cryptocurrencies grow, almost all market participants, whether newcomers or challengers, are making money. Some fools are still trying to short this asset, but they usually don't last long. In this case, the only true losers are those who choose to stand by and watch this revolution.
They stand idle, watching 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 deserve to be rewarded.
Its beauty lies in the fact that anyone can participate. You don't need to be wealthy, have a high level of education, or come from a specific family. You just need an internet connection and a bit of personal initiative to take action.
What a wonderful time to be alive! Our decentralized Bitcoin community is slowly but steadily climbing, occupying the highest position in finance and society. We are entering the S&P 500. We are attracting capital. We are even making our way into the White House.
Satoshi Nakamoto would be very proud. Imagine what we'll do in the next 15 years...
