πŸ“ The Ultimate Trojan Horse: BlackRock's mutual fund complex is the vehicle that finally brings institutional bitcoin exposure to pensions and retirement accounts - by making it indirect and almost invisible. From: BlackRock (Redefining Portfolio Construction)
Key Insight from Bitcoin for Institutions: 4. New metrics are essential - each institution type needs bitcoin-specific measures of success to make adoption sustainable. Chapter: Epilogue
Personal Power Like learning to drive and no longer depending on others for rides From: Bitcoin for Institutions
External Pressure Activist investors and political pressures can override pure profit motives. From: Bitcoin for Institutions
Key Insight from Bitcoin for Institutions: 1. Institutional resistance is ruthless - incentives, not logic, drive corporate decision-making. The LDI story proves this. Chapter: Epilogue
Key Insight from Bitcoin for Institutions: 1. Mastery takes time β€”just as learning guitar requires years of dedicated practice, understanding bitcoin requires sustained commitment. Chapter: Bitcoin Requires More Patience and Time than Institutions Have
πŸ“ The diamonds are no longer an incentive when an executive sees themselves needing that first glass of water again. The author foresees a scenario where executives face similar pressure to "adopt bitcoin" at their companies over the next five years. From: HODL'ing Bitcoin is Irrational
ℹ️ Deciding to "master" bitcoin is accepting a lifetime of study as well as being likely fated to never completely understand it. The type of person who takes on such a challenge is in quite a predicament. From: Bitcoin Requires More Patience and Time than Institutions Have
ℹ️ Small Employers: It would make sense for owners of small companies (under 100 employees) to offer a defined benefit plan and maximize their contributions in bitcoin. Before the 1990s, hundreds of thousands of such companies offered pensions as a great tax shelter that also provided compensation to employees. From: Pensions
Short-Term Thinking Quarterly reporting cycles create pressure to show immediate results rather than long-term value creation. From: Bitcoin for Institutions