2017 gave us ICOs.
Speculative shells, sold on whitepapers and vapor.
2021 offered NFTs.
Digital trinkets, inflated by celebrity, collapsed by reality.
2025 isn’t that.
It’s Bitcoin on the balance sheet.
A different animal entirely.
Enter
They didn’t build a Bitcoin company.
They turned a fading tech firm into a monetary vehicle.
Traded fiat for scarcity.
Swapped decay for durability.
Critics say it’s a hype loop.
Issue stock, buy Bitcoin, stock pumps, repeat.
But reflexivity is the rule, not the exception.
All markets are narratives until they’re not.
What matters is what you’re reflexive around.
ICOs had fake promises.
NFTs JPeGs had attention.
Bitcoin has finality. Code. Consensus. Thermodynamic cost.
That’s the difference.
Still, Bitcoin isn’t magic.
You can hold gold, real estate, or BTC, YET
If your business model sucks, it won’t save you.
It doesn’t make bad management better.
It just removes fiat as the silent killer in the background.
#MicroStrategy or #MetaPlanet are no exception.
Saylor & DC r not innovating. They’re insulating.
Fiat bleeds. Bitcoin doesn’t.
He’s not trying to beat the system.
He’s trying to survive it.
You want to criticize them? Fine.
Ask whether the business earns, builds, scales.
Ask if it’s worth the premium over #BTC.
That’s the real question.
But don’t compare this to ICOs.
Don’t mistake monetary reallocation for a trend.
This isn’t about tech cycles.
It’s about capital preservation in a fiat endgame.
#Bitcoin doesn’t solve everything.
But it solves the one thing the rest are built on.
Late #Nostr thoughts.
2017 gave us ICOs.
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1 min read