The aim of this post is to help you understand why it makes sense to buy Bitcoin or a fraction of it, Stack Sats, and Hodl just like what the rich are doing. However, instead of me explaining why you should get on the right side of history, I’ll share with you why renowned investors, CEOs of multi-million and billion-dollar companies, and leaders of financial services and asset management companies are holding this cryptoasset and cryptocurrency.
Chamath Palihapitiya
Billionaire, venture capitalist, engineer, SPAC sponsor, and the founder and CEO of Social Capital
“You can get your money or your assets into Bitcoin and shield it from a government you fundamentally don’t trust. How is that a bad idea? This is genius!”
CHAMATH PALIHAPITIYA
Cathie Wood
Founder, CEO, and CIO of ARK Investment Management LLC
“This is digital gold. You can’t confiscate it.”
CATHIE WOOD
Citi Bank
“A focus on global reach and neutrality could see bitcoin become an international trade currency. This would take advantage of bitcoin’s decentralized and borderless design, its lack of foreign exchange exposure, its speed and cost advantage in moving money, the security of its payments, and its traceability.”
Bitcoin: At the Tipping Point”, a report by Citi Bank, a US banking giant.
Jack Dorsey
Billionaire, co-founder and the CEO of Twitter, and the founder and CEO of Square
“The world ultimately will have a single currency; the internet will have a single currency. I personally believe that it will be bitcoin.”
JACK DORSEY
https://www.theverge.com/2018/3/21/17147574/twitter-ceo-bitcoin-jack-dorsey-square-interview-currency-10-years
Michael Saylor
CEO of MicroStrategy
“Our balance sheet strategy is acquire and hold Bitcoin.”
MICHAEL SAYLOR
As of March 2021, Microstrategy has 91k bitcoins.
Robert Kiyosaki
Investor and author of Rich Dad, Poor Dad
“In May 2020, a historic event cut the daily incoming supply of bitcoin from 1,800 Bitcoin per day to 900 bitcoin per day—a sort of quantitative hardening—opposite of what the Fed is doing by printing trillions of dollars. Central banks, in simplest terms, create money out of nothing. They create ‘fake money’ and loan it to governments. Bitcoin, on the other hand, is completely decentralized meaning that nobody can manipulate the market and there is not any single point of failure.”
ROBERT KIYOSAKI
https://www.forbes.com/sites/billybambrough/2020/07/09/bitcoin-is-in-real-estate-and-gold-are-out-warns-rich-dad-poor-dad-author/?sh=66caf4fa1946
Elon Musk
Billionaire, founder, CEO, CTO, and chief designer of SpaceX; CEO, and product architect of Tesla, Inc.; founder of The Boring Company; co-founder of Neuralink; and co-founder and initial co-chairman of OpenAI
“I do at this point think bitcoin is a good thing, and I am a supporter of bitcoin.”
ELON MUSK
An SEC filing revealed in February 2021 that Tesla invested “an aggregate $1.50 billion” in Bitcoin. This is 7.7% of its $19.384 billion in cash at the end of Q4 2020.
Alicia Pertusa
Head of Client Solutions Strategy at Banco Bilbao Vizcaya Argentaria (BBVA)
“We launched operations with bitcoin, because it’s currently the most popular cryptocurrency…”
ALICIA PERTUSA
https://www.bbva.com/en/bbvas-goal-is-to-provide-our-customers-with-access-to-new-digital-asset-markets/
Anthony Pompliano
Founder and partner at Morgan Creek Digital, a hedge fund which specializes in blockchain technology and digital assets
“When we print lots of money, normally, that leads to higher levels of inflation. When we start to print trillions and trillions of dollars, one of the fears that people have is that we will not only see 2% inflation, we will see something more than 2%. And if we see more than 2% in the official inflation numbers, that means that the poor are getting punished even more and the rich are getting richer and richer.
“So, what has happened over the last couple of months? The billionaires in the United States have made, collectively, almost half a trillion dollars over the last couple of months. How could that be when 50+ millions Americans have lost their jobs? And there’s a global pandemic. And tens of millions of small businesses in America are gonna get shut down. And we’re in a recession. Yet, the rich people made half a trillion dollars. It’s because majority of their net worth is in assets – not in cash. And those assets have continued to increase in price, because the dollar is being devalued by all the money we are printing. (…) They have positioned themselves to get wealthy over long period of time rather than hold cash and see their wealth constantly eroded away by inflation.
“Bitcoin protects people’s wealth. (…) If Bitcoin is the core unit of account, there is no inflation. There is no ability for somebody to go create tons more of bitcoin and erode away the value of Bitcoin. There’s no printing press when it comes to Bitcoin. So, rather than being financially incentivized to get out of the currency and have to go buy investment assets, you now can go from having to be an investor to simply being a saver. In the legacy finance system, investors win and savers lose. In the dollar-based system, investors win and savers lose. In the Bitcoin, or decentralized system, savers win because they’re saving in an asset that is deflationary.
“The same thing like in the US-dollar system, where buying land — they’re not making more land, so you can buy land and the dollar will devalue and your land will become more valuable as more people want land. The same thing here. They’re not making more bitcoins. There’s 21 million of them that will ever be available. And, the way people value Bitcoin, is in terms of US dollars. So, when you hold Bitcoin, as part of a portfolio, what happens is the dollar will continue to devalue over time, and as more people want Bitcoin, the value goes up.”
Anthony Pompliano
Bitcoin Hodler 