1/ As a long time @RayDalio fan, I& #39;ve been so disappointed with his take on #btc https://abs.twimg.com/hashflags... draggable="false" alt="">. It seems based on a recent tweet that he is open to learning, so I had to write down some concise and thoughtful notes for each of his "problems with Bitcoin being an effective currency"
2/ @RayDalio, you are starting from a bad initial position of Bitcoin needing to be a currency to be valuable. Better to think of it as an asset subject to the laws of supply and demand like gold, art etc. There& #39;s a great analogy about this - "Bitcoin has a platypus problem"
4/ "if it becomes too successful governments will ban it". Some governments sure - probably a strong correlation w/ governments that implement capital controls. In the USA, it& #39;s already well defined and governed by numerous bodies,
and adopted by important corporates.
5/ Also, there is an increasingly strong chance the Bitcoin and the broader ecosystem will become a strategic tool for leading economies like the USA. This is as a result of rapid global stablecoin adoption, the increased transparency vs cash and CBDC initiatives
6/ "I can& #39;t imagine central banks, institutional investors etc using it"

Well, respectfully, you just aren& #39;t paying attention! Fidelity, Square, PTJ, Bill Miller, Druckenmiller, MSTR, Fortress, DBS Bank in Singapore, multiple banks in Switzerland and the list goes on...
7/ I hope that Ray takes the time to educate himself and think critically about #btc https://abs.twimg.com/hashflags... draggable="false" alt=""> and what& #39;s happening in the broader crypto ecosystem. It would be a shame to see him miss a paradigm shift happening before our eyes!
8/ If you& #39;re working at a financial institution and looking for help educating folks internally about these topics - the slides in this thread were taken from a Bitcoin 101 deck we have at BlockFi. Our institutional team would be happy to present to your organization!
You can follow @BlockFiZac.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

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