If you’re a fan of classic cinema like me, you might remember a scene from the legendary movie “The Sting” with Robert Redford and Paul Newman, where one of them asks the other if he plans to take his money, and the reply is, “No, I’d just spend it.”
And I can’t help but think how much this resembles the mindset of any crypto enthusiast.
Bitcoin hits $100,000—are you going to sell it? No.
You’re going to accumulate more.
Because that’s how we like to think, right? We always want more, because there will come a day (far, far in the future) when there won’t be any more left.
This week, Microsoft has gone a bit against the grain, deciding not to use Bitcoin as a reserve asset, unlike MicroStrategy and many other companies.
For the community, this decision is a mistake they’ll regret in the next five years. Don’t want to buy it now? Well, they’ll have to do it when the price is double. In the words of Michael Saylor, “Everyone buys Bitcoin at the price they deserve.”
The future, as it happens, is orange. This week, David Solomon, CEO of Goldman Sachs, announced that his bank is ready to begin offering cryptocurrency buying and selling services.
Another Bitcoin guru, Ray Dalio, founder of Bridgewater Associates—the world’s largest hedge fund—has acknowledged that he prefers to invest in Bitcoin over bonds and other debt assets.
Meanwhile, more and more nations and states are embracing the idea of using Bitcoin as a strategic reserve. Just this week, Russia and the state of Alabama announced that they’re considering creating a national Bitcoin reserve.
These acknowledgments have increasingly positioned Bitcoin as a modern alternative to so-called “hard money,” a type of asset that maintains its value over time and serves as a hedge against inflation and economic uncertainty. More and more people are realizing the value its scarcity generates, and nobody wants to be left out.
Coin of the Week: XRP
XRP has risen more than 260% in the past 30 days. This stellar performance has catapulted it to the fourth position among cryptocurrencies by market capitalization.
Although it faces resistance levels, the recent increase in its market cap has driven the asset to surpass major companies like BlackRock and PayPal in value.
Additionally, Ripple, the company behind XRP, is expected to launch RLUSD in the coming weeks—a new stablecoin aiming to compete directly with USDT and USDC.
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