Bitcoin and Cryptocurrencies Are Taking Over Wall Street

Author: Anthony Pompliano, founder of Professional Capital Management; Translator: AIMan@Golden Finance

Bitcoin and cryptocurrency supporters are occupying Wall Street.

Here are the headlines from the past 24 hours:

1. Coinbase joins the S&P 500

2. David Bailey founded Nakamoto, a Bitcoin reserve company that raised over $700 million

3. DeFi Technologies begins trading on Nasdaq

4. Microstrategy purchased 13,390 Bitcoins

5. Metaplanet purchased 1,241 Bitcoins

6. American Bitcoin Mining announces a reverse takeover listing (RTO) with Gryphon Digital Mining

This list is not exhaustive, but it highlights how quickly the traditional financial world has embraced digital assets. Considering that Wall Street investors and companies are always looking for new shiny toys, this makes sense.

Bitcoin and cryptocurrencies bring more customers, more assets, more revenue, and more profits. Wall Street loves all four. As we continue to see forward-thinking traditional players profit from this emerging industry, we should expect to see a slew of followers eager to replicate that success.

There will be more Bitcoin reserve companies. There will be more IPOs, SPACs, and RTOs. There will be hedge funds buying ETFs or looking for the next asymmetric bet in the space. And there are a slew of private companies ready to enter the public markets.

Cryptocurrencies are hitting Wall Street.

But this is less a story of Wall Street being disrupted than a story of Bitcoin and crypto growing. Guess who’s making money on reverse takeovers (RTOs)? Wall Street banks. Guess who’s making money every time Strategy buys more Bitcoin and drives its stock price up? Wall Street hedge funds. Guess who’s making money when Coinbase gets into the S&P? Wall Street asset managers and index fund investors.

That’s the thing — Wall Street isn’t stupid. They saw this coming and were ready to make sure they profit from it. BlackRock and Fidelity own the two largest Bitcoin ETFs. It’s no accident.

That’s why I can’t help but smile every time I see a headline like yesterday’s. As Bitcoin and cryptocurrencies grow, almost all market participants, upstarts and challengers alike, are making money. There are still some fools shorting the asset, but they usually don’t last long. The only real losers in this situation are those who choose to sit out this revolution.

They sit out while those smart enough to understand this new technology create trillions of dollars in value. That’s just how the system works. Those who take risks deserve to be rewarded.

The beauty of it is that anyone can participate. You don’t need to be rich, have a high degree, or come from a certain family. You just need an internet connection and a little personal initiative to take action.

What a great time to live in! Our decentralized Bitcoin community is slowly but surely climbing to the top of finance and society. We are in the S&P 500. We are attracting capital. We are even in the White House.

Satoshi would be so proud. Imagine what we will do in the next 15 years…