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God bless Michael Saylor and his recognition that the sound, technologically innovative store of value engineered in Bitcoin is highly valuable in an age of massively corrosive money debasement.
The Microstrategy CEO made a decision earlier than most to move his investment firm’s assets into the king of cryptos, and despite wide fluctuations and volatility, he has no reason so far to regret his decision.
But Saylor, like Max Keiser, friend of Gerald Celente and another crypto seer admired by Trends In Cryptos, do tend to see Bitcoin as the only (or maybe, by far the most) sound and legitimate crypto network.
So what might they be missing in their assessment?
To use an apt analogy, different cryptocurrencies and the networks and ecosystems can be seen as addressing various problems and offering innovative solutions.
In other words, cryptos are very much like software companies of the 1980’s and 90’s. Just as there was room for accounting software, word processing, creativity applications and computer games, the “Crypto Techno Revolution” (see “THE CRYPTO ‘AGE OF UTILITY’ HAS JUST BEGUN,” 12 Oct 2021) is touching countless areas and offering disruptive solutions.
The solutions are disruptive because cryptos notably automate processes via their networks, including delivering services, executing and running software, and handling the distribution of tokenized rewards for investors and network operators.
Mark Cuban is an example of an investor who sees a bigger picture with cryptos.
Speaking recently about the potential of DAOs (Decentralized Autonomous Organizations) to displace the traditional “company and stockholder” organization of businesses, he noted:
“The future of corporations could be very different as DAOs take on legacy businesses. It’s the ultimate combination of capitalism and progressivism. Entrepreneurs that enable DAOs can make $. If the community excels at governance, everyone shares in the upside. Trustless can pay”
Cuban has also voiced enthusiasm for crypto smart contract technology, which automate processes and token and other asset distributions in DAOs, DeFi (Decentralized Finance) and NFTs (Non-Fungible Tokens).
According to ambcrypto.com, Cuban holds NFT collectibles built on Ethereum, Polygon, and Solana.
So: would a savvy investor of the 90’s choose just one software product or company to invest in, seeing others as “fake” or “scams?”
Of course not. Which isn’t to say that software clinkers and fly-by-night companies didn’t pop up in those days, or that the wild dot.com bust of the late 90’s didn’t underscore the wisdom of the phrase “Caveat Emptor.”
The truth is, the vast majority of current crypto projects will lose money for the vast majority of those who plunk their fiat them.
But that’s a far way from asserting that Bitcoin is the only crypto that has utility, integrity, and opportunity.
As always, doing specific research into what a crypto project does (ie. what problems it seeks to solve and “innovation” it represents), is the only rational way to approach assessing potential value and investment opportunity.
But one thing about cryptos is certain: Bitcoin maximalism isn’t the future. The fast evolving technology is already doing far more than store value in an efficient and sound way, though that by itself is certainly revolutionary, and can never be taken away from the “King of Cryptos.”