IMO, the Aker shareholder letter is one of the clearest/most thoughtful *Why Bitcoin, Why Now* reads
Here is a thread highlighting a few notable quotes:
"First, we will use bitcoin as our treasury asset and join the community. In Bitcoin speak, we will be hodlers."
Let's go!
Here is a thread highlighting a few notable quotes:
"First, we will use bitcoin as our treasury asset and join the community. In Bitcoin speak, we will be hodlers."
Let's go!
The Aker (Seetee) team is *already* running open-source bitcoin payment servers?!? (Top of page 2)
Are they the first publicly-traded company to do so? @BtcpayServer @pavlenex @r0ckstardev @matt_odell @NicolasDorier
Are they the first publicly-traded company to do so? @BtcpayServer @pavlenex @r0ckstardev @matt_odell @NicolasDorier
Special recognition and shoutouts to @saifedean, @aantonop, @adam3us, @nic__carter, @JackMallers, @michael_saylor, @chamath, @starkness, @APompliano, and many others. (page 3)
"Not investing is the riskiest decision." Amen (top of page 4)
Risk is relative. Inspired by the #GetoffZero campaign and Chamath's framing as bitcoin being "schmuck insurance."
Risk is relative. Inspired by the #GetoffZero campaign and Chamath's framing as bitcoin being "schmuck insurance."
"Everything is a bet with some associated probabilities." (page 6)
Almost 80% of their portfolio was in oil and gas when Covid hit and the price of oil went negative.
Wow.
Almost 80% of their portfolio was in oil and gas when Covid hit and the price of oil went negative.
Wow.
I love this question to reframe all of my future Bitcoin conversations.
"What about the risk of losing out on the upside?" (page 7)
"What about the risk of losing out on the upside?" (page 7)
The legend of @JackMallers continues to grow. This is the part of the Bull market I love to see. Special people and teams who were heads-down buidling during the bear market. Bravo.
Pages 8-12 eloquently debunks in detail the "Bitcoin is killing the planet" myth.
A screenshot will not do this justice. Please read for yourself.
A screenshot will not do this justice. Please read for yourself.
Debunks the "Bitcoin cannot scale" myth with a clear explanation of the Lightning network and more powerfully a beautiful story (page 14)
Another myth debunked - "Bitcoin is for criminals" (page 14-15)
RE: current KYC and AML systems being antiquated - bingo! Bitcoin can be better. (page 15) cc @matt_odell
The current game (current financial system) only allows certain participants (page 16)
H/t to our friends at @WTF_1971 (@heavilyarmedc and @mrcoolbp) who were referenced in the footnote on page 17 when noting Nixon moving off the gold standard in 1971.
A lot did change.
A lot did change.
"(Bitcoin's) the perfect scarce digital asset. By design...I call that progress." (page 18)
Me too.
Me too.
Love these two quotes at the end of page 19 for the skeptics and the believers.
I love the enthusiasm and energy. My head spins too!
Hint: we are *not* late (page 20)
Hint: we are *not* late (page 20)
Bitcoin is the category leader and winner to back (bottom of page 20)
Expect a lot of volatility however.
Expect a lot of volatility however.
TLDR: bitcoin will be on the right side of history and Seetee (Aker) is joining the community and bringing its capital and resources.
You love to see it. (page 22)
You love to see it. (page 22)
And of course, I forgot to link to the beautiful shareholder letter.
Enjoy!
seetee.io/static/shareho…
Enjoy!
seetee.io/static/shareho…
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