WTF (Why the Frustration)?!?!

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🗣️ Frustration with the financial powers

This week we saw 2 members of the financial elite publicly go negative on bitcoin and crypto.

In a Wall St. Journal article, Goldman Sachs CIO Sharmin Mossavar-Rahmani continued her skepticism, stating she doesn’t believe bitcoin has value because she can’t determine the value.

Later, in an interview, Federal Reserve President Nell Kashkari compared bitcoin to Beanie Babies, and said it has no use case, so the value should be zero.

I don’t want to go off on their individual points here, because we address them all the time. I want to point out my frustration with the financial higher-ups in the US.

Whether it’s regulators like Kashkari or Gensler, legislators like Liz Warren, or financial leaders like Mossavar-Rahmani and Jamie Dimon, we aren’t seeing any open-mindedness to new assets, value structures, and especially to the idea that the system they’re presiding over isn’t really working anymore.

Grass Roots Assets

Unlike most financial assets in the past, bitcoin and crypto are very grass-roots systems. They have started from the customer, consumer, investor level, and trickled up. They aren’t products derived in banks or think tanks and pushed on us.

We saw the need, developed them, built them, and invested in them.

It’s like a record executive, who is a vinyl collector, railing against streaming music. You can try to negate it all you want, but the market has spoken. The world wants and needs financial options, and they’re speaking with their wallets.

Now, you know I’m going to say all this. It’s in my interest.

But how does it affect you?

It affects you and your clients though. They likely read and hear these comments, and so many people still look up to financial and regulatory leaders to tell us what’s “ok.”

So you should be able to articulate to clients why there is a need for bitcoin. Why it has value, and can be a part of their portfolio.

And you should congratulate yourself for being more open-minded than the supposed leaders we have.

You get to talk to the people who are really affected by the policies and banking systems, and prove your knowledge.

Proof of Steak?

This week the KC Cattle Company posted they are starting to use bitcoin as their reserve asset.

This is a small company in Missouri selling steaks and other meats online, so you’re probably wondering why I’m calling it out, other than to be a crypto maxi.

It’s because KC Cattle Company is your client!

Maybe that company isn’t, but look at the reality.

Your Clients

They’re seeing their expenses increase regularly. They have to pay for feed, land, taxes, labor, and other expenses. Regardless of the Fed numbers on inflation, this company knows their own inflation rate. They live it every day.

So they can either accept the increases, and pass on the higher prices to their customers, or they can find another way to offset the rising costs…and they have chosen to hold bitcoin.

When you have regular meetings with your clients, you don’t have to push bitcoin. You’re likely going to hear clients talk about their increased expenses.

I know I’m paying more for groceries, school, camps, etc.

Now is the time to have that conversation around stores-of-value. In the past it’s been gold, or even the US Dollar. But now they can hold bitcoin to store value and offset increased expenses.

It isn’t a theoretical push of a digital asset. It’s a real solution to a problem your clients are experiencing. And you have the knowledge and the service ready to go.

No use cases? I think we just found one.

We Launched a Community!

We’ve found that learning the basics of bitcoin, crypto, and blockchain is just the beginning. You then need to keep up to date, ask questions, and add it to your practice.

We have the group for you!

The Future of Financial Services Community.

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Hit the button below to check it out. You get a 14-day free trial, followed by $25 per month or $250 per year to join us.