Open Fields

In an SEC filing late this afternoon, Microsoft disclosed that "Assessment of Investing in Bitcoin" is currently proposed and will be a voting item for the shareholder meeting on December 10 (the filing notes that "the Board recommends a vote against this proposal").
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December 10th this year is bound to be a wildly volatile date with Microsoft’s decision to let investors vote on whether the company should dive into Bitcoin. I’d bet the board’s recommendation to vote against this proposal is just for show. Big money rarely signals retail investors ahead of time about its moves, and my gut tells me Microsoft investors will back Bitcoin exposure; they’re just not ready to make waves about it yet.

This reminds me of JPM bashing Tesla stock months back, only to watch it take off. When people finally realize that so-called “smart money” never announces its moves in advance...

Personally, after seven years in crypto, I’ve learned to do the opposite of what the masses or the elites, media, and big funds suggest. The masses are usually just exit liquidity, and that isn’t changing any time soon.

Speaking of Bitcoin (for the millionth time on this blog), I just read on Twitter that BlackRock now holds close to 400,000 BTC. Only months ago, they had around 100,000 coins, and I’d wager they’ve scooped up dips while retail panicked and sold because of so-called experts like Gareth Soloway and other clowns declaring the bull market dead.

Bitcoin is no longer for the masses, and as we near $100,000, I bet individuals will start trimming their exposure for those dollars. Meanwhile, institutions seem to be doing the opposite, dumping dollars to buy Bitcoin.

But what can we do? We’re just degens chasing magic internet money and insane ROIs, and in this cycle, memes seem to be the ideal vehicle. It’s not a guaranteed game, though. As I mentioned in my post yesterday, I’m holding some memes, but I’m not betting the farm on them.

I got lucky with MOODENG a few days ago—it nearly doubled my money today. But at the end of the day, swing trading shitcoins should ideally be about stacking more Bitcoin. Unfortunately, I’m highly reliant on crypto, and I’m not yet in the position to accumulate much Bitcoin.

Maybe in the next bear market, I’ll stack more sats, along with Hive and definitely HBD (for that juicy APR on staking). For now, it’s all about the hustle, and I’m sure many others are in the same boat. Because of this, digital gold is gradually shifting from retail hands into the greedy pockets of institutions.

We each have our own lives, priorities, and reasons for how we make decisions on the same assets. That’s it for me for now. Wishing you all a great Friday, and catch you next time.

Thanks for your attention,
Adrian