The Pomp Letter - Corporations Want A Lot More Bitcoin
Today’s letter is brought to you by Consensus 2024!Consensus 2024 is happening May 29-31 in Austin, Texas. This year marks the tenth annual Consensus, making it the largest and longest-running event dedicated to all sides of crypto, blockchain and Web3. Don’t miss Bitcoin: We Are So Back, where Anthony Pompliano will discuss what the next bull market will look like, how it will differ from previous run-ups and the broad macro investment thesis for bitcoin and crypto more broadly. Consensus has tailored programming for Bitcoin maxis and multi-chain mavericks alike, covering everything from post-halving strategies to mining and more. Plus, you absolutely won’t want to miss the epic BTC (Nic Carter) vs ETH (David Hoffman) battle at Karate Combat. That’s just a taste of what's to come at crypto’s only big-tent event. Join Consensus in Austin alongside 15,000+ investors, founders, brands and more to take in all that blockchain has to offer. Get your pass today and use code POMP to save 20%. Can’t make it to Austin for Consensus 2024? Livestream from wherever you are with the Virtual Pass for $79. Available here. To investors, Another public company announced this morning that they are adopting bitcoin as their treasury reserve asset. Here is the opening of their press release:
Why would they do this? According to the Chairman of the company:
The Semler Scientific announcement comes on the same day that Metaplanet, a Japan-based company pursuing the Microstrategy bitcoin playbook, announced they received board approval to purchase more bitcoin for their balance sheet. When one company does something, it is a dot. When two do something, it is a line. When three companies do something, it is a trend. There are at least five publicly-traded non-crypto companies that I know of that are using bitcoin as a treasury asset. This is on top of the many crypto-related companies that are also holding bitcoin on their balance sheet. I don’t anticipate that every company is going to put bitcoin on their balance sheet. But I do think we will see many more companies pursue the strategy in the coming months. Bitcoin has shown itself to be a superior asset to store value long-term. The institutional adoption, coupled with the recent regulatory approval, is only going to green light even more executives to consider this option. Bitcoin is the only asset in the world where retail investors were able to front-run the institutions and corporations. But the corporations are not going to watch this pass them by. Capitalism is an incredible system of incentives, so we know the outcome of actions by simply looking at the incentives that bitcoin provides — protect your hard-earned economic value over the long-term regardless of what the fiat currency debasement rate is. There may be no greater pitch to corporate America. While everyone thought bitcoin was going to be a high-risk asset, it turned out to be the risk-mitigation tool for the suits. What a beautiful thing to see. Hope you all have a great start to your week. I’ll talk to everyone tomorrow. -Anthony Pompliano Reader Note: Today is a free email available to everyone. If you would like to receive these letters each morning, please subscribe to become a paying member of The Pomp Letter by clicking here. Jack Mallers is the Founder & CEO of Strike. In this conversation, we talk about the macro environment, the edge case, use case, investment case for bitcoin, bitcoin vs shitcoins, politics, regulation, and why he believes Wall Street will capitulate and all become bitcoiners. Listen on iTunes: Click here Listen on Spotify: Click here Strike CEO Jack Mallers on Bitcoin, Macro Environment, and AltcoinsPodcast Sponsors
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