We love to say “just pull yourself up by your bootstraps.” It’s a neat, comforting idea. Work hard, be smart, and success is inevitable.But here’s the truth:
That advice only works if you were born with boots.
In many parts of the world — from Haiti to Senegal to rural India — people aren’t lazy. They’re not stupid. They’re simply locked out of the systems that reward effort.
🌍 Talent Is Universal. Opportunity Is Not.
As economist Ha-Joon Chang points out, people in poor countries are often more entrepreneurial than those in rich ones — because they have to be. There’s no safety net. No trust fund. No stable job waiting after graduation.
But despite this hustle, the game is rigged:
Currencies collapse.
Corruption is common.
Legal systems are slow or predatory.
Borders are closed.
Global capital flows around them, not toward them.
You can be brilliant and still stuck.
👣 Magatte Wade’s Truth: The Problem Isn’t the People
Senegalese entrepreneur Magatte Wade has built global businesses from Africa. She’s seen the raw talent. The drive. The ideas. The hunger.
Her message?
“Africa isn’t poor because Africans are lazy. It’s poor because the system makes entrepreneurship nearly impossible.”
She calls it “permission-based economies.” In many developing countries, just starting a business requires dozens of licenses, bribes, and approvals — often taking months longer than in the U.S. or Europe.
So even if you’ve got the mindset, you don’t have the infrastructure to win.
🎯 The Bootstrap Narrative Fails Globally
Myth
Reality
“Anyone can invest.”
Not if your currency melts or you can’t access a bank.
“Just learn online.”
Not if you have no internet, no laptop, no electricity.
“Start a business.”
Not if your government makes it illegal or corrupt.
“Just move to a better country.”
Not if your passport locks you out.
🍀 And Yes — Luck Matters More Than We Admit
Even in the U.S., success often comes down to:
Who your parents were
Which zip code you were born in
Whether a policy loophole happened to exist in a year you applied
You may know someone in Haiti who made it to the U.S. only through a temporary rule — and only with personal support. That’s not “bootstrapping.” That’s a rare alignment of chance, help, and timing.
🔑 So What Do We Do?
✅ 1. Stop Pretending Meritocracy Is Global
Effort matters. But effort without access is just exhaustion.
✅ 2. Support Systems That Shrink the Luck Gap
Bitcoin → access to global savings
Online education → access to real skills
Remote work platforms → access to higher wages
Legal reform → access to build freely, without bribery
✅ 3. Build Platforms That Let Value Flow to the Creator
Not to the middleman. Not to the gatekeeper. Not to the “aid industrial complex.” To the person doing the work.
💥 Final Thought
The tragedy isn’t that people in poor countries are lazy. It’s that they’re invisible to the systems that claim to reward merit.
Talent is everywhere. Boots are not.
If we want a fair world, we don’t need more advice. We need to start building the Earned World — where those who create value are finally allowed to keep it.
I generated the above table using ChatGPT. I have been invovled in all of these communities that are swirling around the same ideas. I wish I could get them to work together.
ChatGPT also generated the below. It’s not perfect but I wanted to publish it because I want to.
offer it to the world
open for critique and improvements.
The Earned World Manifesto
A Declaration for Builders, Not Rent-Seekers
1. The Problem We See
The current system extracts more than it empowers. It rewards proximity to power, not creation of value. It builds systems that entrench dependency, then calls that stability.
We see:
Productivity rising — but wages stagnating
Knowledge abundant — but credentials gatekept
Labor outsourced — but profit hoarded
Currency inflated — but savings eroded
Talent global — but opportunity gated
Work automated — but ownership concentrated
This is not an accident. The rules are rigged — and the game is extraction.
2. What We Believe
🧱 Agency Is Non-Negotiable
Each individual has the right — and the responsibility — to direct their life. Freedom is not given. It is constructed.
📈 Value Should Flow to the Builder
The person who creates, fixes, or risks should own the upside. Rent-seeking is a tax on the capable.
🧠 Education Must Be Sovereign
Learning is abundant. Gatekeeping it is theft. We reject the credential treadmill in favor of demonstrated skill.
💰 Money Must Be Earned and Preserved
Currency debasement is economic theft. Savings must store effort, not melt it.
🔐 Ownership Is the Foundation
He who owns the tool, the platform, the protocol — holds the power. We choose ownership over permission.
3. What We Support
This is not a utopia. It is a direction.
We support:
🔸 Individuals achieving financial independence through disciplined action
🔸 Workers becoming owners, not just operators
🔸 Monetary systems (like Bitcoin) that cannot be corrupted
🔸 Skill-first pathways over debt-fueled credentials
🔸 Systems that reward contribution, not compliance
🔸 Local or global opt-out zones where new rules can be tested
We reject:
Coerced redistribution
Forced altruism
Dependence disguised as security
4. Our Two-Stage Strategy
🛶 Stage 1: Build your lifeboat. Earn freedom through action. Reduce expenses, save in hard assets, develop durable skills, and reclaim your time.
🏛️ Stage 2: Rebuild the harbor. Use your freedom to build systems that don’t demand sacrifice to survive. Not as charity — but as infrastructure for agency.
5. Join Us
We are the builders. The earners. The ones who won’t rent our future.
We will:
Speak plainly about value and power
Share tools, not just tweets
Reward proof-of-work, not status
Create systems where sovereignty scales
If you’re tired of extraction, If you still believe in ownership, If you’re ready to build —
Welcome to the Earned World.
As I was generating the Manifesto, I had a lot of conversation with ChatGPT. Below was a powerful statement it had.
“The current system extracts more than it empowers.”
This means that the rewards of the modern economy are disproportionately claimed by systems, institutions, and owners — not by the individuals doing the work or taking the risk. The value flows upward, while the burden flows downward.
Here’s what that looks like across different dimensions:
💼 In Work
Wages have stagnated while productivity and corporate profits rise.
Most workers trade time for money with little long-term upside (no ownership, equity, or growth path).
Gig work and contract labor shift costs (insurance, risk, taxes) to the individual while stripping stability.
Extraction: Time, energy, creativity — taken for a wage that doesn’t keep up with cost of living. Empowerment: Would mean building ownership, autonomy, or long-term equity from your work.
💸 In Money
Fiat currency loses purchasing power over time (inflation), punishing savers and wage earners.
Asset inflation (stocks, real estate) benefits those who already hold wealth — not those trying to build it.
Central banks and governments distort money supply in ways individuals cannot control or escape.
Extraction: Your savings melt while those close to the money printer get richer. Empowerment: Would mean access to stable, sovereign, permissionless money, Bitcoin.
🏥 In Healthcare
Healthcare is tied to employment — meaning you’re not truly free to leave your job.
Insurance costs rise faster than wages; many avoid treatment due to fear of bills.
Extraction: Your health and security are used to bind you to jobs and debt. Empowerment: Would mean decoupling basic needs from corporate control.
🏠 In Housing
Real estate is increasingly used as an investment vehicle, not a place to live.
Young people are priced out of ownership, forced into permanent renting.
Extraction: Rent drains wealth every month with no asset built. Empowerment: Would mean pathways to ownership, equity, or cooperative housing.
🎓 In Education
Education costs have exploded, leading to decades-long student debt burdens.
The credential economy keeps people in a treadmill of debt just to be “qualified.”
Extraction: You pay to enter the game, and the game changes by the time you finish. Empowerment: Would mean low-cost, high-agency pathways to skill and livelihood.
🤖 In Technology
Tech companies extract your attention, data, and time to sell to advertisers.
Users create content and community, but ownership and profits go to platforms.
Extraction: You are the product. Empowerment: Would mean open platforms, data sovereignty, and user-owned networks.
🔁 Why This Matters
When a system extracts more than it empowers, it means:
The average person gets poorer in power, even if they get richer in consumption.
Stability, dignity, and control are replaced with dependency and precarity.
People become functionaries, not free agents.
Stagnation in the U.S. and suppression in Mexico are two symptoms of the same disease:
A system where capital moves freely, but labor and ownership do not.
Personal sovereignty is the prerequisite for systemic sovereignty.
Entrepreneurship without savings is economic quicksand.
I think there are solutions to a lot of these propblems. But this is teh start of framing for myself to think more about solutions.
I encourage everyone in the communities I identified to read this as well as consider how they coudl work to make their own lives better as well as make the system better.
I want to highlight the 2 step process.
🛶 Stage 1: Build your lifeboat. Earn freedom through action. Reduce expenses, save in hard assets, develop durable skills, and reclaim your time.
🏛️ Stage 2: Rebuild the harbor. Use your freedom to build systems that don’t demand sacrifice to survive. Not as charity — but as infrastructure for agency.
While I believe everyone is capable of building their lifeboat, it is certainly harder for some than others.
Please comment with any thoughts you have to update this. Please feed this into AI and discuss with it how you might make chagnes to or improve it.
Here are a few resources I referenced when thinking about this.
Over the past couple weeks, I’ve been diving deep into David Shapiro’s Post-Labor Economics lecture series (linked below — all around 40 min). I’ve listened to each one twice, and then used a mix of ChatGPT, Copilot, and Grok to create four 10-point summaries — one per video. Then I asked ChatGPT to synthesize those into a single meta-summary of the core ideas.
Here are the 4 videos. Each about 40 minutes long.
ChatGPT – Here is a 10-bullet-point meta-summary that synthesizes the key themes and insights from all four “Post-Labor Economics” video summaries:
Automation is Inevitable and Transformative: AI and robotics are displacing human labor across all sectors, making wage-based employment increasingly obsolete while simultaneously threatening consumer demand and economic stability.
Economic Agency is the Core Concern: Individuals require labor rights, property ownership, and voting rights to retain agency. As labor rights erode, property rights become the cornerstone of financial autonomy.
The Demand Paradox: Businesses want to automate to cut costs but still need paying customers. Without jobs, people can’t spend—creating a structural contradiction that leads to economic collapse unless resolved.
Rethinking Metrics: The EAI: Traditional KPIs like GDP and unemployment are no longer sufficient. The Economic Agency Index (EAI) measures household income sources (property, wages, transfers) and highlights the need to prioritize ownership income.
UBI: Helpful but Not Enough: Universal Basic Income is necessary as a safety net but inadequate on its own due to inflation risk, governance issues, and centralization. It must be paired with decentralized, property-based income streams.
Ownership is the New Wages: Future economic resilience depends on expanding access to trusts, wealth funds, co-ops, patron equity programs, and digital tokens to replace lost labor income with ownership-based dividends.
Counties as Innovation Labs: With 3,100 U.S. counties, local governments are ideal sites for experimenting with and scaling post-labor economic models, offering granular data and tailored policy solutions.
Banks as Economic Interfaces: Banks will evolve into the primary economic hubs, managing dividend flows, investment portfolios, and identity verification, replacing the role of traditional employers in financial life.
Guardrails Against Technofeudalism: Preventing elite capture and concentrated corporate control is critical. Transparency, participatory governance, and broad-based ownership are essential safeguards.
Market-Driven, Not Ideological: Post-labor economics distinguishes itself from socialism and communism by preserving markets and private property. Its goal is not wealth redistribution through state control, but wealth inclusion through distributed ownership and market-based tools.
I continued to have a conversation with ChatGPT to understand further.
I asked it “”How does post-labor economics differ from individuals simply investing in the stock market to generate passive income?”
It gave a very nicely formatted response, below.
🧩 TL;DR: It’s Not Either/Or
Buying stocks is one tool — a good one — for individual financial freedom.
But post-labor economics is about designing an entire economy where capital income is as normal, widespread, and accessible as having a job once was.
It’s not just you winning the game — it’s everyone getting a seat at the table.
Great question — and an important one.
🤔 At first glance, post-labor economics might sound like:
“Just buy stocks and live off dividends — problem solved.”
But post-labor economics goes beyond that in a few key ways. Here’s how it’s different from individuals simply investing in the stock market:
🏛️ 1. System Design vs. Personal Strategy
Stock investing is an individual solution — you build capital and income for yourself.
Post-labor economics is a system-wide redesign — it’s about building structures where everyone can participate in ownership, even if they don’t have savings, brokerage accounts, or financial literacy.
💵 2. Barriers to Entry
The stock market requires:
Disposable income
Access to financial tools
Risk tolerance
Education
Post-labor models focus on lowering those barriers by:
Distributing residency-based dividends
Creating local trust funds
Offering non-transferable community equity (you don’t have to “buy in”)
🏘️ 3. Ownership of Local, Tangible Assets
The stock market mostly involves ownership of national or global corporations.
Post-labor economics emphasizes ownership of local assets: businesses, land, water rights, data, energy — things that create direct, community-level income streams.
Owning Amazon stock ≠ owning the gas station, solar field, or rental housing in your own town.
🤝 4. Shared Governance & Resilience
When you buy stock, you have no governance power, unless you’re a billionaire activist investor.
Post-labor structures are built on shared governance — resident voting, dividend boards, and community stewardship.
💬 5. Not Everyone Can or Will Invest
A huge portion of the population has no stock market exposure. About 45% of Americans own no equities at all — and among the bottom 50% of income, it’s more like 10–15%.
Post-labor economics seeks to bake ownership into the system so that even non-investors receive income from capital.
🧠 6. Ownership as Policy, Not Privilege
Stock investing is optional and personal.
Post-labor economics treats ownership as infrastructure — like roads or clean water. It should be available to all by design, not just those who planned ahead or got lucky.
🌐 7. Resisting Elite Capture
The stock market concentrates wealth — the top 10% own over 85% of equities.
Post-labor models try to decentralize ownership — giving communities a stake in the economy before everything gets bought up by private equity or mega-corps.
🛠️ 8. Designed for the Age of Automation
Stock market investing was never intended as a wage replacement for the masses.
Post-labor economics is explicitly built to answer:
“What happens when jobs disappear, but people still need income?”
My next question.
“What mechanisms does post-labor economics use to avoid the tragedy of the commons when assets are collectively owned?”
✅ TL;DR:
Post-labor economics avoids the tragedy of the commons by turning shared access into structured, incentivized, accountable co-ownership.
It’s not a free-for-all — it’s a designed economy, where people are rewarded for taking care of what they collectively own.
Excellent question — and one of the core design challenges of post-labor economics.
The tragedy of the commons refers to a situation where a shared resource is overused or neglected because no one feels personal responsibility. In a post-labor economy — where ownership is distributed rather than concentrated — this is a real risk. But it’s not unsolvable.
Here’s how post-labor economics intentionally designs around the tragedy of the commons:
🧩 1. Move from “Common” to “Co-Owned”
The key shift is from open access (commons) to structured, governed co-ownership.
Think: community trusts, resident shares, dividend boards — where everyone has skin in the game, not just access.
📜 2. Define Clear Rights and Responsibilities
Successful post-labor models include smart governance charters:
Who can vote?
Who maintains assets?
How are profits used?
What happens if you leave?
This clarity prevents freeloading and aligns incentives for stewardship.
💰 3. Tie Participation to Rewards
Dividends aren’t just handed out — they can be tied to local contribution:
Show up to meetings
Volunteer hours
Local residency
Use the service or shop locally
This ensures that ownership feels earned, not distant or abstract.
📊 4. Transparency and Dashboards
Many models propose using public dashboards to show how community-owned assets are performing.
When people see the numbers — usage, revenue, maintenance costs — it creates accountability and pride.
🧑🤝🧑 5. Decentralized Governance Structures
Rather than one central authority, post-labor systems push decisions downward:
Counties manage their own trusts
Co-ops elect local boards
Banks help automate compliance and distribution
Local control = stronger stewardship.
🏦 6. Hybrid Ownership Models
Some assets are shared (like land or solar arrays), while others are individually owned (tokens, local equity).
This creates a blended structure where people benefit both as individuals and collectively, reducing the temptation to abuse shared goods.
🛡️ 7. Guardrails Against Elite Capture
Ironically, many “commons” in the modern economy (like housing or water) have already been captured — just not by the public.
Post-labor models bake in protections: voting caps, local-only ownership, anti-speculation rules, etc.
It’s a powerful framework. Personally, I’m still focused on achieving my own financial freedom — and I encourage everyone to do the same. But once we secure our own foundations, we’re in a much better position to help build a freer, more equitable world for everyone.
Introduction In recent years, the corporate world has witnessed a historic shift in treasury strategies, with several prominent companies incorporating Bitcoin into their reserves. Despite these significant changes, many finance professors continue to dismiss or ignore the implications of this trend. During my MBA studies, I have personally discussed or emailed with six finance professors over the last three years about Bitcoin. None of them have shown any curiosity or willingness to engage in meaningful discussions about this topic. While I cannot speak for all finance professors, this has been my experience with those I have interacted with. This paper aims to highlight the lack of intellectual curiosity among academics in the face of obvious transformations in corporate and global environments.
The Corporate Shift to Bitcoin The adoption of Bitcoin by companies such as MicroStrategy, Tesla, and Block Inc. marks a pivotal change in how corporate treasuries manage their assets. These companies view Bitcoin as a strategic asset, providing a hedge against inflation and currency debasement. MicroStrategy, for instance, has aggressively acquired Bitcoin, making it the largest Bitcoin treasury in the world. This trend began around 2020 and has continued to gain traction, signaling a shift in corporate treasury management.
In the last month, several other companies have also announced Bitcoin treasury strategies:
Genius Group: An AI-powered education group that has committed 90% or more of its current and future reserves to be held in Bitcoin 1.
Worksport: A U.S.-based provider of pickup truck solutions that is adding cryptocurrency to its corporate treasury strategy 1.
Rumble: A video platform targeting a conservative audience, planning to invest up to $20 million of surplus cash in Bitcoin 2.
Metaplanet: A company with clearly stated strategy reserve asset goals and reasoning 3.
Strategy (previously MicroStrategy): Continues to lead the way with its Bitcoin treasury strategy 3.
Government Recognition of Bitcoin The U.S. government has also acknowledged the significance of Bitcoin by establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. This move underscores the growing acceptance of Bitcoin as a store of value and its potential role in national economic strategies.
Personal Experience with Academic Dismissal Over the past three years, I have personally discussed or emailed with six finance professors during my MBA studies about the topic of Bitcoin. Despite the clear and significant changes in corporate treasury strategies, none of these professors have shown any curiosity or willingness to engage in meaningful discussions about Bitcoin. This lack of interest is particularly surprising given the relevance of Bitcoin to contemporary financial practices and corporate strategies and the fact that there are not many innovations in Corporate Treasury operations. When a new idea comes along you would expect people to be interested to consider if it has any value.
The Importance of Intellectual Curiosity Intellectual curiosity is a cornerstone of academic excellence. It drives innovation, fosters critical thinking, and encourages the exploration of new ideas. The reluctance of finance professors to engage with the topic of Bitcoin reflects a stagnation in intellectual curiosity that is detrimental to both students and the broader academic community.
Conclusion The corporate shift to Bitcoin represents a significant change in treasury strategies that warrants academic attention. Professors should embrace intellectual curiosity and explore the implications of this trend, rather than dismissing it. By doing so, they can provide students with a comprehensive understanding of the evolving financial landscape and prepare them for the future.
Donald Trump imposed a 25% tariff on goods imported to the USA from Canada and Mexico. I am hoping to do a small experiment tracking a few goods from each country to see how their prices change as well as a few similar goods in the USA as a baseline to compare to track inflation.
I know that John Deere 6E tractors are imported from Mexico, 1 oz Gold Mexican libertads are also imported from Mexico and 1 oz gold Canadian Maple leaves are imported from Canada. I am interested how the price of these goods changes over the next years.
I am also going to track a few things that are made in the USA.
One will be a John Deere 8R that is manufactured in the USA and also 1 oz Gold buffalos and 1 oz Gold eagles.
Metaplanet – Japanese Public Company Buying Bitcoin as a Treasury Reserve Asset
Metaplanet is a publicly traded company in Japan that has set Bitcoin as its primary treasury reserve asset. You can read about it here. You will have to click on their link to their “official disclosure” or you can link directly to the PDF of the official disclosure here.
I highly recommend everyone reads this. It lays out in simple, clear language, the benefits to the company of buying bitcoin as their treasury reserve asset. Most of their reasoning applies to individuals also. I’d like to repost it here directly, but they have requested no reproductions. I have emailed them asking if it’s possible to repost it and will if they allow it. But if not, you can read at the link above. It’s only a 3 page document.
Metaplanet is the first public company in Japan I am aware of that has started using Bitcoin as it’s treasury reserve asset. But it wasn’t the first worldwide and I’m sure it won’t be the last.
Finally, El Salvador is the first country to adopt bitcoin as legal tender. It is also committed to buying 1 bitcoin a day. You can follow directly in their bitcoin address.
Again, it was the first ,but I doubt it will be the last.
At this link is a list of all companies holding bitcoin. The above lists are more recent companies and companies that are actively proclaiming that they are accumulating more bitcoin aggressively.
There are about 8 billion (8,000,000,000) people in the world.
According to Kiplinger, globally there are about 59 million millionaires.
59,000,000/8,000,000,000 = 0.007375 = 0.7375% of people in the world are millionaires. So less than 1% of people are millionaires.
If you divided the 21 million (21,000,000) bitcoin among the 8 billion people
21,000,000/8,000,000,000 = 0.002625
0.002625 x $60,000/btc = $157.50
You only need to buy $157.50 worth of bitcoin to get “your share” today.
There are 21 million bitcoin that will ever be made.
There are 59 million millionaires. So it’s not possible for every millionaire to have 1 bitcoin.
If we divide the 21 million bitcoin by 59 million millionaires we get
21/59 = 0.35593220 btc per millionaire.
0.35593220 x $60,000/btc = $21,355.93 if every millionaire wanted to get “their share” of bitcoin and it was only split among millionaires.
If we go down to units of 0.1 bitcoin then 210 million people could own 0.1 bitcoin.
That is still only
210,000,000 people/ 8,000,000,000 people = 0.02625 = 2.625% of people would have 0.1 bitcoin.
0.1 bitcoin x $60k/bitcoin = $6,000 to buy 0.1 bitcoin today.
If I was someone with no bitcoin today I’d think hard about setting a goal of getting to 0.1 bitcoin.
The market capitalization of Gold is $16,590,000,000,000 ($16.59 Trillion) as of 8-11-2024 when I write this. Note that this changes daily as the price of gold fluctuates and as more gold is mined each year.
If bitcoin was to attaining the same market capitalization
$16,590,000,000,000/21,000,000 bitcoin = $790,000 per bitcoin
$790,000 x 0.1 bitcoin = $79,000
If bitcoin was to reach a value of $10 million per Bitcoin then 0.1 bitcoin would be worth $1 million.
Plenty of people have made a prediction in the millions for the future price of bitcoin. You will have to do research for yourself to determine if you think this is reasonable. But I would encourage you to be inquisitive about why people are prediction such a high price for Bitcoin.
This isn’t all to tell you you have to buy bitcoin. But it’s to encourage you to look into why many people think bitcoin has value.
There is not much bitcoin and we are still early as far as world wide adoption. You don’t need to buy much (0.1 bitcoin = $6k today) to potentially have $1 million in the future.
Of course, only buy as much as you are able to lose! Many people are able to have a risky bet of $6k and if it did happen to go to $0 (which is of course a possibility) they’d still be fine.
But if that is not you then definitely DON’T buy bitcoin.
But if you are a person who has sufficient assets, you might try thinking about why so many people have such a high conviction in bitcoin.
I read through your bill IA SF2273 related to gold and silver coinage. I appreciate the sentiment and wish you luck with your bill in the future if you continue to pursue it.
I wanted to appeal to your hard money side with some data about the emerging hardest money ever created, Bitcoin.
As you know, Gold backed currency has failed in many different countries in history for the same reason. The government always centralizes the gold and prints more paper than can back the bills. Even in Ancient Rome when the money was silver, there was coin clipping and physical debasement where existing coins were recalled and melted down to a lower percentage of gold.
Another issue with Gold is that we don’t actually know how much there is. More gold is mined everyday and more is mined as the price goes up.
Bitcoin addresses all the shortcomings of Gold that have caused it to fail in the past.
Bitcoin has a perfectly limited amount, 21 million.
Bitcoin is quickly and easily transmitted across the world. You need a lot of military hardware to transport any significant amount of gold. Bitcoin is also easily transacted in very small amounts. The smallest unit of 1 bitcoin is 1 satoshi. There are 100,000,000 satoshis in 1 bitcoin.
0.00000001 Bitcoin = 1 Satoshi.
Bitcoin currently has a market capitalization of about $1 trillion.
Once 1 BTC = $1 million, it will have a market capitalization of $21 trillion and 1 satoshi will =
$0.01
Using the lightning network consumers are easily able to make very small transactions such as at a grocery store or a restaurant.
If you read this post on my website, https://mywheellife.com/2024/06/23/2024-bitcoin-adoption/, you will see that there are a lot of large institutions like the Wisconsin state pension adding bitcoin to their portfolio. It is also legal tender in El Salvador and they are buying 1 bitcoin a day also to ad to their treasury.
As you have probably seen there are now ETF’s available that have bought 1 million bitcoin this year in the USA only.
The available supply of 21 million bitcoin is draining quickly.
I would encourage you to investigate more about bitcoin.
Perhaps you have heard that President Trump has recently endorsed Bitcoin. He is speaking at the Bitcoin Conference in Tennessee this Sunday, 7-28-2024. You should be able to find it on Youtube later.
I would also point you to this video that just came out “Thank God For Bitcoin”
It is one of the best videos I’ve seen to explain the benefits of Bitcoin.
I’d encourage you to introduce a bill, similar to Arizona, to direct the IPERS pension fund to investigate adding bitcoin to the IPERS portfolio. That would be a first step.
A 2nd step would be to have a state reserve of Bitcoin.
El Salvador, a tiny country, is buying almost 1 full day’s worth of new bitcoin mined each year. Imagine how many other countries and companies could start buying this soon?
I’ve already shared with this post, how many companies and pension funds have started buying bitcoin this year.
I suspect this won’t be the last pension to buy bitcoin, especially since “The Arizona State Senate is considering a proposal to encourage the Arizona State Retirement System (ASRS) and the Public Safety Personnel Retirement System (PSPRS) to explore the inclusion of Bitcoin ETFs in their investment portfolios.”
Also, Japan’s Government Pension Investment Fund (GPIF), the world’s largest pension fund by assets under management, announced that it is seeking information on “illiquidity assets,” including bitcoin, as part of its exploration into potential new investments.
In addition to various pension funds, more companies have started using bitcoin as their treasury reserve asset.
The Japanese company, Metaplanet, has set bitcoin as it’s treasury reserve asset.
The Metaplanet, treasury, was christened with the 1 billion Japanese Yen (worth approximately $6.5 million) injection into Bitcoin by the former. Metaplanet said it is set to make Bitcoin its treasury asset moving forward. It said it will start making Bitcoin bets to mimic the related embrace of the coin by American business intelligence and software firm MicroStrategy.
Another company, Semler Scientific, Inc. (Nasdaq: SMLR), a pioneer in developing and marketing technology products and services to healthcare providers to combat chronic diseases, announced today that its board of directors has adopted bitcoin as its primary treasury reserve asset. In addition, Semler Scientific announced that it has purchased 581 bitcoins for an aggregate amount of $40 million, inclusive of fees and expenses.
The pioneer company of this strategy, Microstrategy, has also Acquired 11.9K More Bitcoin for $786M in June 2024. This is after in March 2024, the company added 9,245 BTC for $623 million after raising money in a similar debt issuance.
In addition to launching 12 Bitcoin Spot ETFs in the USA in January 2024, other countries are continuing to also launch Bitcoin Spot ETF. Australia was the latest.
Finally, some interesting nation state interest has been shown in Bitcoin.
El Salvador’s President Nayib Bukele, has been reelected for a 2nd 5 year term. He made bitcoin legal tender in El Salvador in 2021. No country has followed, yet. But there have been many positive developments since then in El Salvador. It seems only a matter of time before another country makes it legal tender.
Perhaps Argentina?
During an exchange on X (formerly Twitter), he (Argentina’s President) declared: “There will be a free competition of currencies, so if you wish to use Bitcoin, there will be no problem.”
