Corporate Bitcoin: Kevin O’Leary is sucking all the fun out of Bitcoin – May 26, 2021,
So, this needs to be said, Kevin O’Leary puts a stench on Bitcoin because his view of Bitcoin is to grow it in a manner that benefits corporations. I personally have no problem with corporations, but I like to remind people that corporations are a creation of government.
Governments created corporations in order to avoid being sued by the people. If you’ve ever attempted to sue a corporation, you quickly learn that you’re not suing a person, you’re suing the corporation. Now if it’s a small corporation, quite possibly the individual may unintentionally pierce the corporate veil and open themselves as well as their personal assets up to litigation, but most large corporate institutions are group of people who are protecting their personal assets.
Why I bring this up, is because most governments use corporations to appease the demands of voters and in a nutshell, this is what Kevin O’Leary is talking about below. He’s basically turning bitcoin into a government-approved asset and I personally see that as a negative for Bitcoin.
Kevin O’Leary is angling for the rich and powerful entities to get involved in Bitcoin, which basically means the little guy/gal is back to the same position they’re were in with fiat currency. Also, this reinforces the pyramid scheme narrative, now this Bitcoin pyramid scheme narrative may turn out to be the best pyramid scheme in history, but if Bitcoin is only going to go up and up and up in value, which it definitely can if institutions start buying it and central banks remain accommodative to politicians and their stupid ideas, Bitcoin could quickly turn into an oppressor.
A market economy is supposed to fluctuate, there should never be any guarantee of price appreciation, yet this is essentially what Kevin O’Leary appears to be fighting for. I personally like the fact that Bitcoin has price volatility, I’ve actually been using Bitcoin to explain to people why the economy is deflating, but if Bitcoin becomes part of the government, in my opinion, it defeats the purpose.
interesting times ahead!
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