👀 Crypto billionaire: "we know the future"

GM everyone. This is 2036, the crypto newsletter that pays you.

Here’s what we’re serving up today 🍲: billionaire Michael Saylor is a legend in crypto (his company owns ∼$4B of bitcoin). This weekend, he dove deep into the one thing he thinks will impact crypto markets most and why.

Let’s dig in.

🥔 Today’s meat and potatoes

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Microstrategy is a business intelligence firm that started buying bitcoin in July 2020.

Today, they own 152,800 bitcoins, making them one of the world's biggest owners of bitcoin.

The company’s founder and CEO - Michael Saylor - is a celebrity in the bitcoin community. He spends most days tweeting cryptic bitcoin prophecies:

Michael has borrowed over $2 billion to buy bitcoin. He knows a thing or two about financial leverage.

And this weekend, here’s what he said is most likely to impact markets:

Today, if you’re a hedge fund and want to buy $10 million of Apple stock, you simply call up your broker and instruct them to buy the stock.

The $10 million wouldn’t even need to be in your account. Your brokerage will front you the money at minimal interest.

But if you want to buy $10 million of Bitcoin, you have to…

1/ Get approval from your boss to set up a brokerage relationship with Coinbase.

2/ Open a Coinbase account and wait 12 weeks to get KYC’d.

3/ Go to your board and change your trading mandate to be able to trade crypto assets

4/ Set up a trading plan and put 3 finance people on the project.

…i.e you have to modify the compensation, compliance, and custody systems of your fund even if you want to allocate just 1-2% of your fund to bitcoin.

It’s a ton of work and the entire process can easily take an entire year.

Plus, once you have approval, you need to buy the bitcoin with cash. Coinbase isn’t going to front you the money.

The bitcoin can’t be used as collateral for anything else, and your boss is going to be worried you’ll lose it (or steal it).

But that’s all about to change.

A bitcoin ETF means you can have all the benefits of Apple stock but with bitcoin.

You can easily buy $10 million of it, your broker can front you the cash, and you can borrow against it.

That’s why the bitcoin ETF is so important. It brings traditional Wall Street to crypto.

So what does this mean for us?

The price you pay for bitcoin today is your reward for going through the hassle of owning it.

That’s why you can get bitcoin at $20,000 or $30,000 today. It’s a pain in the ass to own it.

But with a bitcoin ETF, it won’t be scary, and you won’t have to go through hoops.

The floodgates will have opened, which means bitcoin might be trading at $250,000.

That’s how early adopters get rewarded.

Right now, bitcoin has the least risk with the highest upside it’s ever had. Michael Saylor calls it “a no-brainer.”

It hasn’t happened yet, but we know the bitcoin ETF is happening.

We literally know the future. And we can frontrun all the institutions.

We’ll be here to guide you through it. In the meantime, zoom out, focus on the bigger picture, and enjoy the ride.

🍨 Dessert

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1/ Is FriendTech back from the dead?

2/ … the stats say maybe

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