One Friend to Many

I have a friend who knows about Bitcoin. They are the first person outside of my immediate family that I met in person and became friends with, and they arguably know more about Bitcoin than me and believe in Bitcoin more than me.

The last time we were with each other we discussed this idea. Currently in the adoption curve of Bitcoin, depending on where you live, finding someone near you who already knows about Bitcoin and believes in it is challenging. My friend had never met one before me and I had only ever had constructive, back-and-forth conversations about Bitcoin theory and the future of Bitcoin with my immediate family. Anyone else I spoke to about Bitcoin largely involved me assuming a sort of “teacher” role while they became the “student.”

This is not to say I don’t love talking about Bitcoin with newcomers.

Nor is this to say I don’t love educating new people about Bitcoin.
I find great joy in both and feel called to do so.

This thought is more on the idea that the silo that many Bitcoiners live in is smaller than it seems while living in it.

The vast majority of people know next to nothing about Bitcoin beyond simply hearing the term “Bitcoin” in the news or on social media.

I believe we are approaching a tipping point where not knowing about Bitcoin will not only be ignorant and wrong but next to impossible.

There have already been numerous events this calendar year that have prompted this sudden shift. From Bitcoin Spot ETF applications going live at the beginning of the year and continuing to break records, to former President Donald Trump coming to The Bitcoin Conference in Nashville in July, Bitcoin has continued to cement its place in society.

I expect over the next 12 to 18 months this trend only continues. Bitcoin, and its strict scarcity, provides a sort of “game theory” mechanism where it pays to act. For example, Microstrategy, an enterprise software company founded by Michael Saylor, adopted a Bitcoin standard in 2020 and has outperformed every other company on the S&P 500.

Microstrategy holds over 250,000 Bitcoin and I believe any other company that attempts to adopt this strategy will struggle to compile the same amount of Bitcoin. The later a company is to adopt this strategy, the more they will have to play catch-up. With an absolutely finite supply of 21 million coins, this is the only way this game theory plays out in the long run.

Interestingly enough, Microstrategy has even overtaken Microsoft in stock gains since 1999.

Today, Microsoft is in the news because there is a proposal that Microsoft shareholders will have to vote for whether or not the company builds a Bitcoin position. As of the second quarter of 2024, Microsoft held $76 billion in cash. A 10% allocation of that into Bitcoin would be buying over 7% billion. Regardless on whether this proposal passes initially or not, the fact that another one (Tesla in 2021) of the “Magnificent Seven” companies is contemplating Bitcoin continues to show the progression of the traditional finance world continuing to assess Bitcoin as a viable asset.

As more and more institutions and every level of our society continue to accept and adopt Bitcoin, more and more Bitcoiners will appear. It will become impossible to avoid it.

From one friend to many, we will continue to go.

Stack SATs.

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