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https://youtu.be/YidaXadeG7s?si=u0-5Cfg5AhIhgoMS Market Disruptors Mark Moss & Cory Klippsten nostr:npub1tftc33ttam85wraffce62cgtvvjrmttquqlv6a0agtfm5nl4vues82xar5 #bitcoin #btc Obsidian Markdown Notes: # SUMMARY Cory Klippsten, CEO of Swan Bitcoin, discusses Bitcoin's impact on finance, corporate strategies, institutional adoption, and the potential for national Bitcoin reserves. # IDEAS: - Bitcoin doesn't need to replace the dollar to succeed; it pulls value from other assets. - Incremental wealth storage in Bitcoin can expand its market without competing with other asset classes. - Companies with steady cash flow but low growth are ideal for leveraging strategies to buy Bitcoin. - Leveraged Bitcoin Equities (LBE) resemble leveraged buyouts (LBOs) of the 1980s in unlocking capital structures. - The use of convertible bonds for Bitcoin-related strategies is creating exclusivity among financial players. - Bitcoin's potential to become the second-largest asset class behind real estate by 2050 is plausible. - The U.S. holding confiscated Bitcoin as a strategic reserve has a high likelihood of occurring. - Sovereign nations may be waiting for the U.S. to act on Bitcoin before openly adopting it. - Institutional adoption of Bitcoin is accelerating as competition compels participation. - Bitcoin's role as collateral is reshaping traditional financial strategies and balance sheets. - Publicly listed companies are declining while private equity and venture capital are rising. - Bitcoin can provide businesses with growth options without needing private equity. - The reflexive nature of Bitcoin leveraging strategies could lead to market mania cycles. - Bitcoin expands the total addressable market (TAM) for store-of-value assets. - The U.S. government holding Bitcoin would not signal the end of the dollar. - Historical shifts, like the gold standard adoption, show how nations quickly align on competitive advantages. - Bitcoin mining and energy-intensive industries are finding synergies for operational efficiency. - Institutional adoption seeds were planted in 2013 and are now flourishing in 2020-2030. - Convertible bonds are a critical tool for enabling leveraged Bitcoin strategies. - The Federal Reserve cannot own Bitcoin under current laws, but the Treasury could. - Bitcoin's role in sovereign strategies mirrors historical arms and space races among nations. - Bitcoin rewards credit cards are gaining traction, offering an alternative to cash or miles back. - The competitive nature of Wall Street is dragging institutions into Bitcoin-related strategies. - Commodities-focused investment banks are exploring Bitcoin due to client and LP interest. - Bitcoin doesn't need to demonetize gold or real estate to grow; it can absorb incremental profits. - Sovereign wealth funds and nations may be coordinating their Bitcoin strategies. # INSIGHTS: - Bitcoin as collateral is transforming corporate finance by enabling new, leverage-based growth strategies. - Leveraged Bitcoin Equities (LBE) could become a major corporate category akin to LBOs in the 1980s. - Institutional Bitcoin adoption is driven by competitive pressures rather than voluntary participation. - Bitcoin's growth doesn't require competition with other assets; it expands the store-of-value market. - Nations' adoption of Bitcoin could spark a global financial "arms race" for dominance. - Historical patterns suggest that shifts in asset standards, like Bitcoin, can align nations rapidly. - The U.S. holding confiscated Bitcoin could set a precedent for sovereign Bitcoin reserves. - Bitcoin mining and energy industries are naturally aligning for mutual efficiency and cost benefits. - Convertible bonds are emerging as the financial instrument of choice for Bitcoin-leveraged strategies. - Bitcoin's rise is forcing traditional finance to adapt, creating new market dynamics. # QUOTES: - "Bitcoin does not kill the dollar; Bitcoin pulls value from other store value assets." - "Bitcoin doesn't need to steal from other buckets of store value to hit $20 million a coin." - "Cash is king all over again because the cash can become Bitcoin." - "Incremental profits can be stored in Bitcoin incrementally without requiring competition." - "Leveraged Bitcoin Equities feel a lot like leveraged buyouts in the 1980s." - "If you're not in this trade, you're getting absolutely crushed publicly and embarrassed." - "This is the earliest of the early innings; there's really only one company executing it today." - "Bitcoin's growth doesn't signal the dollar's death; the dollar doesn't have to die for Bitcoin to succeed." - "The Federal Reserve can't own Bitcoin, but the Treasury holding it is plausible." - "The seeds of institutional Bitcoin adoption were planted in 2013 and are flourishing now." - "Bitcoin expands the TAM for store-of-value assets without directly competing with them." - "Sovereign wealth funds are positioning for Bitcoin but may wait for the U.S. to act first." - "Wall Street competition is dragging institutions into Bitcoin strategies, kicking and screaming." - "Bitcoin mining companies are finding synergies with energy-intensive industries for cost offsets." - "Historical shifts, like the gold standard, show how nations align on competitive advantages." # HABITS: - Evaluate balance sheets regularly to determine optimal leverage strategies for growth. - Accumulate Bitcoin systematically as part of a corporate treasury strategy. - Consult with financial experts to explore Bitcoin's applicability to business operations. - Stay informed about evolving financial instruments like convertible bonds for Bitcoin strategies. - Network with industry professionals to share insights on Bitcoin adoption and strategies. - Host events to educate and engage stakeholders on Bitcoin-related financial opportunities. - Regularly review and adjust corporate rules around Bitcoin treasury accumulation. - Monitor global Bitcoin adoption trends among institutions and sovereign entities. - Use historical financial shifts as frameworks to understand Bitcoin's growth trajectory. - Leverage synergies between Bitcoin mining and energy-intensive operational sectors. # FACTS: - The U.S. government holds over 200,000 confiscated Bitcoin coins in custody. - Leveraged buyouts (LBOs) revolutionized corporate finance in the 1980s. - Publicly listed companies are declining, while private equity and venture investments are rising. - Convertible bonds are critical for executing leveraged Bitcoin equity strategies. - Bitcoin's total addressable market (TAM) can grow without competing with other assets. - Nations historically adopted the gold standard in rapid, coordinated shifts during the 1800s. - Institutional Bitcoin adoption significantly accelerated post-2020 due to competitive pressures. - Sovereign wealth funds are positioning for Bitcoin but avoiding front-running the U.S. - Bitcoin mining companies are leveraging energy-intensive operations for cost efficiencies. - The Federal Reserve is legally restricted from owning Bitcoin, unlike the U.S. Treasury. # REFERENCES: - Swan Bitcoin Rewards Credit Card. - MicroStrategy's Leveraged Bitcoin Equity Playbook. - Bitcoin Mina Conference Presentation. - Historical adoption of the gold standard. - Convertible bonds as financial instruments. - UAE Bitcoin acquisition rumors. - CBO projections for store-of-value asset growth. - Marathon and Riot Blockchain strategies. - U.S. government confiscated Bitcoin holdings. # ONE-SENTENCE TAKEAWAY Bitcoin's transformative role in finance and global strategy is reshaping corporate, institutional, and sovereign approaches to value storage and growth. # RECOMMENDATIONS: - Expand knowledge of Bitcoin's financial strategies through focused, curated study materials. - Explore leveraging cash flow to acquire Bitcoin as a long-term growth strategy. - Consider adopting convertible bonds for executing Bitcoin-leveraged strategies. - Monitor global trends in sovereign Bitcoin reserves and institutional adoption. - Evaluate the role of Bitcoin in corporate treasury strategies to diversify assets. - Collaborate with financial experts to integrate Bitcoin into business operations. - Stay informed about Bitcoin's impact on traditional financial market dynamics. - Leverage Bitcoin mining synergies in energy-intensive industries for cost efficiencies. - Host educational events to promote Bitcoin adoption among stakeholders. - Use historical financial shifts as a framework to predict Bitcoin's trajectory. - Advocate for policy changes to accommodate Bitcoin's role in national reserves. - Align corporate strategies with Bitcoin's expanding total addressable market. - Adopt a low time preference mindset for long-term Bitcoin investment success. - Engage with investment banks to explore Bitcoin-focused financial verticals. - Position businesses to benefit from Bitcoin's incremental market expansion.