Keep in mind the time when Crocs have been the common image of an unpleasant a$$ shoe?
(I do know, some folks nonetheless assume it is ugly. They usually’re not completely fallacious.)
However you possibly can’t argue they have not turn out to be iconic. Everybody’s sporting them, they’ve carried out collabs with Naruto, Balenciaga, and Put up 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.
Individuals used to clown on BTC. Now, although? Eeeveryone needs a chunk. Simply have a look at how briskly corporations are adopting it.
The most recent to hitch the membership? Ok Wave Media – a South Korean leisure firm that makes Ok-content, sells Ok-pop merch, and invests in Korean movie and music initiatives.
They signed a deal to boost as much as $500M and put it towards… you guessed it – Bitcoin.
They usually’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 Ok-pop merch with Bitcoin.
Mainly, they need to be the “Metaplanet of Korea.”
(For those who haven’t been following, Metaplanet is a BTC treasury firm that folks name the “Technique of Japan” – Technique being Michael Saylor’s BTC treasury firm.)
So… does that make Ok Wave… the Technique of Japan of Korea? We’ll allow you to untangle that one.
Uhh, anyhow. Talking of Metaplanet…
They purchased one other 1,088 BTC this week at a median worth of $108.4K every.
This brings their complete 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 absolutely bought on this new wave of company Bitcoiners.
He identified that Saylor has already confirmed his diamond palms, as he held by way of the brutal bear market in 2022-23 with out promoting a single coin.
In the meantime, these newcomers haven’t been by way of that sort of ache but.
So the query is:
Will they hold shopping for when the market bleeds? Or will they fold when issues get tough?
Max says: in all probability the latter. However that is anybody’s guess.
Oh, and earlier than we go, should you’re questioning what all this company BTC stacking would possibly really 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 folks – they in all probability do not know. I’m wondering who might repair that… 😃🫵
Unfold the phrase and be the hero you realize you’re!
