Bear in mind the time when Crocs had been the common image of an unpleasant a$$ shoe?
(I do know, some folks nonetheless assume it is ugly. They usually’re not totally unsuitable.)
However you possibly can’t argue they have not develop into iconic. Everybody’s carrying them, they’ve achieved collabs with Naruto, Balenciaga, and Publish Malone…
And actually…Bitcoin is kinda the Crocs of finance.
This would possibly sound offensive now that I give it some thought. However hear me out.
Folks used to clown on BTC. Now, although? Eeeveryone needs a bit. Simply take a look at how briskly firms are adopting it.
The newest to affix the membership? Okay Wave Media – a South Korean leisure firm that makes Okay-content, sells Okay-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 Okay-pop merch with Bitcoin.
Mainly, they need to be the “Metaplanet of Korea.”
(When you 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 Okay Wave… the Technique of Japan of Korea? We’ll allow you to untangle that one.
Uhh, in any case. Talking of Metaplanet…
They purchased one other 1,088 BTC this week at a median worth of $108.4K every.
This brings their whole 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 totally bought on this new wave of company Bitcoiners.
He identified that Saylor has already confirmed his diamond fingers, 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 preserve shopping for when the market bleeds? Or will they fold when issues get tough?
Max says: most likely the latter. However that is anybody’s guess.
Oh, and earlier than we go, in case you’re questioning what all this company BTC stacking would possibly truly do to Bitcoin… we coated that in a earlier deep dive → test it out right here.
Now you are within the know. However take into consideration your pals – they most likely don’t know. I ponder who may repair that… 😃🫵
Unfold the phrase and be the hero you already know you’re!
