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there's just not that much capital controlled by people who are open to bitcoin or other revolutionary technologies.
I think thats a valid take.
Slowly thats going to change. The sole reason I'm hopeful that the CLARITY act passes is because its going to force lots of hands.
Once IBM stock + GLD ETF is traded as a token, its going to force bitcoin to become a member of many digital baskets.
To be clear, I think "blockchain tokens" are just another scam, but I'm cheering it on because of the trojan horse aspect of bitcoin becoming the sponge that eats all capital.
By the way, an under-reporting aspect of CLARITY act is that just like the argument for stablecoins is that it enables some dude in Africa with only a phone to hold US Dollars, the same is true for stocks. Why wouldn't GOOG want some dude in Africa to buy their stock? That is to say, there is massive structural incentives for this to happen....
It's interesting to see so many arbitrary restrictions being removed. Access to the stability of America's financial system could really be game changing for much of the world.
If it was perfect, probably not as much. Still on principle, cuz it's not what bitcoin is here for. But yeah, I'd likely be more celebratory if price had been up and to the right, STRC the largest instrument on the market etc
I am somewhat partial to this corner solution type story: i.e. there's just not that much capital controlled by people who are open to bitcoin or other revolutionary technologies.
On the note of financialization, let's say Saylor really had engineered the perfect flywheel. Would you still hate it if he was basically sucking the purchasing power out of dollars and transferring it into bitcoin?