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Corporate giants may not follow MicroStrategy’s Bitcoin adoption game, explains Raoul Pal

Communication is key, especially when it comes to explaining Bitcoin to major corporate entities.

Earlier this year, business intelligence https://www.sepa-wissen.de/en/bitcoin-sunrise/ giant MicroStrategy invested $425 million of its treasury funds in Bitcoin (BTC). The move was largely seen as a major step in the right direction for the widespread adoption of Bitcoin. However, MicroStrategy, with its CEO and founder Michael Saylor, a Bitcoin skeptic turned bullish, may not mark the beginning of a massive corporate adoption of the pioneering asset of cryptomonics, according to former hedge fund manager Raoul Pal.

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„I don’t think Michael is going to drive corporate adoption in space, because he’s really speaking the language of Bitcoin and not the language of the corporate treasurers, and that has to happen,“ Pal told podcaster Peter McCormack in an episode of What Bitcoin Did podcast released today.

„We’re very bad at this space speaking the language of others that we really want to get into the system, at the end of the day.
MicroStrategy announced its $250 million purchase of BTC in August. The firm raised an additional $175 million in September. Once a big asset skeptic, Saylor has become a bullish with Bitcoin, posting about the currency frequently on Twitter. He also said that he bought 17,732 BTCs for his personal possessions prior to the purchase of his company.

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„Forget how much money it is, it was a big part of the cash reserves,“ said Pal about MicroStrategy’s BTC hosting. „Now, most companies won’t do that, but Michael is a true believer,“ explained Pal, in his quote about Saylor not speaking the right language for adoption growth.

„I’ve mentioned this on numerous occasions: you won’t get the pension system and asset allocations until you start talking in terms of bearer asset allocation models,“ said Pal. „None of us know what they are because no one uses them except that industry.

Pal himself admitted that he did not know the exact asset allocation strategies used by various industries, but described their widespread prevalence. Essentially, each sector has a common set of its own specific native objectives, terminology and strategies.

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„It is based on the asset allocation models used by the entire pension fund industry, and used by consultants and actuaries and so on,“ he explained.

„Talking about the value of money at 100 years with the Microsoft treasurer who might be at work for 10 years before he moves elsewhere is irrelevant. It doesn’t matter. Show him the diversification effects of the portfolio versus cash that has trade credit, paper, treasury, different currencies and say, ‚Well, if you put this in, this is what it does to your portfolio,‘ then he’s going to say, ‚Yes, I understand, I’m going to do something like that.
Several other major players have entered into major Bitcoin positions in 2020, such as billionaire Paul Tudor Jones. However, the business trend towards assets is still in its infancy.