Citizen of the Orange Free State. All posts are satire.
Joined August 2021
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Stacy and Max are shitcoiners. Always have been, always will be.
I've taken a significant position in Bakkt $BKKT
I started accumulating shares when I heard that @mikealfred joined the board.
And I've been buying since then.
They are clearly cooking something big.
I'm speculating here... But what if they become the Visa for the AI age?
Let's connect some dots:
They are building payments infrastructure at the intersection of Bitcoin, stablecoins, tokenized assets, and AI.
Mike has hinted at big things on the way... But precise details of their vision are a bit hazy for now.
But if I had to guess, I'd say they're building towards providing payments infrastructure for AI agents.
Here's why:
The new CEO @Akshay_Naheta was previously at SoftBank where he lead investments in AI related companies like NVIDIA.
After that, he founded a stablecoin startup with the goal of building "the next generation of global payments infrastructure."
He understands AI and stablecoins intimately.
Keep in mind, Softbank is the largest investor in OpenAI.
And the next wave of AI innovation is going to be agents.
Agents that need the ability to transact with one another.
Can you see where this is headed?
AI agents will be transacting constantly.
It's the next frontier in payments.
A blue ocean.
They will book your hotels & flights, order your groceries, pay other agents to complete tasks, etc.
Eventually there will be an entire economy of agents running autonomously, transacting constantly at the speed of light.
Daily transaction volume amongst these agents will eventually be measured in trillions of dollars.
But these transactions will need to be regulated to monitor for fraud, money laundering, etc.
Enter Bakkt.
They're building regulated stablecoin payments infrastructure that can be adopted for a wide range of enterprise needs.
And with money transmitter licenses in all 50 states (something that not even Elon has managed yet at X)... Bakkt could be positioned to start powering stablecoin transactions for AI.
Imagine taking a cut of the exploding AI stablecoin transaction market?
Companies like Visa, Stripe, etc. have done very well with that model.
But that's just one piece of the puzzle.
Bakkt is also infrastructure for tokenizing real world assets.
Helping entities unlock liquidity from traditionally illiquid assets (real estate, art) in a regulated, compliant manner.
It's another big market to attack.
Keep in mind, Bakkt is still worth less than $800 million.
The 20th largest crypto coin (safe to assume it provides zero real world utility) is worth nearly $9 Billion.
More than 10x Bakkt.
Mike was shouting about IREN and CIFR at the lows. They're both up over 20x now.
And now he's put his reputation on the line with Bakkt.
My guess is that he knows that the new leadership team has the expertise and connections needed to make some serious moves in the AI + stablecoins payments space.
Not financial advice, but personally I'm long Bakkt.
I'm someone who thought this knots vs core thing was a nothing burger covered in a fart, and avoided it completely. As a 1st touchpoint I found this thread and the discussion under worth reading.
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Mynah retweeted
Vietnam just froze 86m bank accounts because account holders didn't comply with new biometrics laws that require a face scan or fingerprint for account verification.
If users don't comply by the 30th they'll lose their money. This is why we bitcoin.
tftc.io/which-way-anon/
Mynah retweeted
This is how edgy Banksy was when we were all locked in our homes while they dished out kill shots.
Who is brave enough to turn this into a skit for TV?
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Mynah retweeted
🚨Nerdaxe Hydro Giveaway!
Solo Satoshi is giving away (1) Nerdaxe Hydro shipped anywhere in the world FOR FREE!
Want to enter?
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Solo Satoshi - There's no second best.
Jesus dude, take the L like a man.
Almost a decade ago I was the Harvard economist that said that bitcoin was more likely to be worth $100 than 100k. What did I miss? I was far too optimistic about the US coming to its senses about sensible cryptocurrency regulation; why would policymakers want to facilitate tax evasion and illegal activities? Second, I did not appreciate how Bitcoin would compete with fiat currencies to serve as the transactions medium of choice in the twenty-trillion dollar global underground economy. This demand puts a floor on its price, as I discuss at length in my new book Our Dollar, Your Problem. Third, I did not anticipate a situation where regulators, and especially the regulator in chief, would be able to brazenly hold hundreds of millions (if not billions) of dollars in cryptocurrencies seemingly without consequence given the blatant conflict of interest.
cnbc.com/2018/03/05/bitcoin-…
