Bear in mind the time when Crocs have been the common image of an unpleasant a$$ shoe?
(I do know, some individuals nonetheless assume it is ugly. And so they’re not solely unsuitable.)
However you may’t argue they have not develop into iconic. Everybody’s sporting them, they’ve carried out collabs with Naruto, Balenciaga, and Publish Malone…
And truthfully…Bitcoin is kinda the Crocs of finance.
This would possibly sound offensive now that I give it some thought. However hear me out.
Folks used to clown on BTC. Now, although? Eeeveryone needs a chunk. Simply take a look at how briskly corporations are adopting it.
The most recent to hitch the membership? Okay Wave Media – a South Korean leisure firm that makes Okay-content, sells Okay-pop merch, and invests in Korean movie and music tasks.
They signed a deal to boost as much as $500M and put it towards… you guessed it – Bitcoin.
And so they’re not simply gonna make investments – they are going all-in:
Holding BTC of their treasury;
Utilizing BTC yields to purchase extra BTC;
Letting followers purchase content material and Okay-pop merch with Bitcoin.
Principally, they wish to be the “Metaplanet of Korea.”
(If you happen to haven’t been following, Metaplanet is a BTC treasury firm that individuals name the “Technique of Japan” – Technique being Michael Saylor’s BTC treasury firm.)
So… does that make Okay Wave… the Technique of Japan of Korea? We’ll allow you to untangle that one.
Uhh, in any case. Talking of Metaplanet…
They purchased one other 1,088 BTC this week at a mean worth of $108.4K every.
This brings their whole holdings to over 8,888 BTC and makes them the Eighth-largest company holder of Bitcoin worldwide.
Which is cool and all…
However BTC maxi Max Keiser isn’t totally bought on this new wave of company Bitcoiners.
He identified that Saylor has already confirmed his diamond arms, as he held via the brutal bear market in 2022-23 with out promoting a single coin.
In the meantime, these newcomers haven’t been via that sort of ache but.
So the query is:
Will they preserve shopping for when the market bleeds? Or will they fold when issues get tough?
Max says: most likely the latter. However that is anybody’s guess.
Oh, and earlier than we go, when you’re questioning what all this company BTC stacking would possibly truly do to Bitcoin… we lined that in a earlier deep dive → test it out right here.
Now you are within the know. However take into consideration your pals – they most likely don’t know. I ponder who may repair that… 😃🫵
Unfold the phrase and be the hero you understand you’re!
