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Norwegian Billionaire’s Shareholder Letter Is The Yr’s Most Bullish Bitcoin Article

03/09/2021

The shareholder letter penned by Seetee’s Kjell Inge Røkke is probably the most bullish missive on bitcoin of 2021 thus far.

Yesterday, I had a powerful feeling {that a} new establishment was going to announce that it’s adopting bitcoin as its treasury reserve asset in the present day and early this morning, my prediction got here true.

This morning, a subsidiary of Norwegian holding firm Aker, Seetee, introduced that it had amassed 1,170 BTC and that it is going to be investing in Bitcoin-focused corporations. One can assume that these bitcoin are actually tucked away in deep chilly storage because it plans to HODL for the longer term. On the finish of its tweet thread announcement, Seetee linked to a shareholder letter written by its billionaire founder Kjell Inge Røkke, explaining why it has determined to undertake a Bitcoin normal. And, oh boy, is it bullish.

After studying the letter myself and discussing the content material with some colleagues, we got here to the conclusion that this needs to be probably the most bullish article written thus far this 12 months. That is the kind of content material that Bitcoiners have dreamed of seeing, a letter from a billionaire on why bitcoin is essential and the way his group can construct a brighter future for his or her firm by working on a Bitcoin normal.

Under are three of my most bullish takeaways from the letter with some rationalization of why they’re so essential:

1. The steep studying curve to understanding Bitcoin has repelled many, permitting for the robust and decided to rise to the highest and grasp it, whereas accumulating it. One of many causes for it is because many are usually not taught in regards to the financial properties of cash that make it beneficial. They see cash solely as a medium of trade so naturally, they unconsciously reject Bitcoin as a result of it fully breaks their worldview.

“You possibly can solely problem preconceived concepts if you end up keen to go exterior of your consolation zone,” Røkke wrote. “Bitcoin has impressed us to problem our intuitive understanding of cash.”

As Røkke explains, his firm additionally had its private beliefs about cash challenged by Bitcoin. That is nice affirmation bias to see, as after all of the plebs on Bitcoin Twitter realized Bitcoin is a superb trainer on cash and economics, billionaires are seeing this as properly. And if all of us are understanding this, then it’s solely a matter of time earlier than the remainder of the world does as properly.

2. Røkke has an entire part devoted to explaining why “not investing is the riskiest choice” on the subject of the query of “ought to I purchase bitcoin or not?” The significance of this part can’t be underestimated as a result of not having a place in bitcoin is having a place in bitcoin. And it’s not a place you’d wish to take.

Bitcoin is cash, and there are penalties to holding cash that’s much less arduous than the toughest cash. As a result of BTC was the best-performing asset of the final decade, bitcoin’s worth has risen astronomically whereas each different asset in your entire world misplaced worth towards it. As extra determine this out, it tends to gentle a fireplace beneath them and inspire them to build up extra bitcoin. As a result of at that time, you understand how quick on bitcoin you actually are.

3. At this time, most younger entrepreneurs and buyers appear to have had “reduce threat” and “don’t take pointless dangers, at all times play it protected” overwhelmed into their heads. The “at all times play it protected” half is a horrible factor to show individuals who intention to achieve success. As a result of whilst you don’t wish to put your self in a probably terrible place if issues go fallacious, it’s possible you’ll simply miss out on many improbable alternatives from which you’ll profit.

“Younger professionals know they’re risking their careers if they are saying sure to what finally turns into dangerous investments. That’s the secret. What you must actually get fired for is saying no and dropping out to as soon as in a lifetime alternatives”

Bitcoin is a lot greater than a once-in-a-lifetime alternative, it’s a once-in-a-species alternative. Whereas many haters debate and declare that bitcoin goes to zero, the chance value of lacking out on this funding is just too good to overlook out on. I’ve personally seen many dismiss shopping for bitcoin whereas saying “I might by no means purchase bitcoin, not to mention put all of my wealth into it.” To which I’m certain bitcoiners of all backgrounds would reply, “And that’s the reason nobody will keep in mind your title.”