Three datasets: (1) Elon Musk (Tesla): Tesla will resume accepting Bitcoin after concluding its due diligence on energy usage (2) Jack Dorsey (Twitter): Bitcoin is a “big part” of Twitter’s future (3) London’s City A.M. newspaper: Amazon will begin accepting bitcoin payments in Q4 2021. These constellations despite the high voltage assault by China on the digital currency pushed BTC to near $40,000 per unit, appreciating 16% in 24 hours.
Bitcoin and other cryptocurrencies have leapt on rumors that Amazon is about to enter the space. Bitcoin is, at the time of writing, just north of $38,000; it was very recently below $30,000. Amazon posted a job ad for a “digital currency and blockchain product lead,” and a spokesperson reportedly said over the weekend that the company believes “the future will be built on new technologies that enable modern, fast, and inexpensive payments.” (Fortune)
The speculation began after Amazon posted a job advert for a “Digital Currency and Blockchain Product Lead” based out of its Seattle headquarters. The job posting, which was first picked up by crypto publications last week, said the role would be based within Amazon’s Payment Acceptance & Experience Team, suggesting the company could be looking to accept cryptocurrencies in the near future.
Amazon’s job posting said the role would involve “innovat[ing] on behalf of customers within the payments and financial systems of one of the largest e-commerce companies in the world”.
Now, if BTC can move this way, I am hoping that e-Naira when it finally launches in Oct (as rumoured), will help the Naira appreciate by 16% against US dollars. Would that not be awesome? Surely indeed. We need to get three datasets to proclaim the ascension of Naira! Lol.
Seriously, if your business has not invested to deepen market perception, you may not have any future. Toyota’s revenue is $247 billion, selling close to 10 million cars; Tesla revenue is $31 billion, selling about 500k cars. Yet, Toyota market cap is below $300 billion while Tesla is above $600 billion. As I wrote in Harvard, perception is the king of modern business; improve your playbook on it. BTC is running on it.
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Yet as that happens, we need to remember that things are falling in China. This is how Fortune summarizes it in a newsletter: “Chinese crackdowns on various sectors continue, knocking a wider array of stocks. Education technology has been whacked by a new ruled banning companies that teach school curriculums from making profits, raising capital or going public. Tencent’s shares fell around 6% after the firm was told to end its exclusive licensing agreements with labels around the world. New regulations on the food-delivery sector have removed 15% from Meituan’s share price, and Didi’s descent continues, pushing SoftBank’s bet on the ride-hailing firm $4 billion into the red”.
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Nigeria needs to invest massively on perception, nations are marketed well above its true capabilities and potentialities, and that is what outsiders would associate the land with. There’s always a great difference between how a country is talked about and how it really is.
This geographic space called Nigeria is greatly undervalued, partly because its people do not know how to sell or project strength, so outsiders end up telling its stories.
How many countries are even well run in this world or devoid of decrepit creatures? But some know how to package, giving you the impression that their system is ‘saintly’, while yours is ‘devilish’, another scam. Listen to true sons and daughters of each nation, they are still cursing their politicians, but we somewhat believe corruption and bad leadership are domiciled in Africa, hogwash.
Bitcoin is selling, because you are told it’s valuable, whether it’s valuable in itself is a different matter. If you give Nigeria to people who know how to sell, within a decade, millions of people will be queuing to come to Nigeria, that doesn’t mean the old demons have magically disappeared, rather they are simply muted.
Our psyches need to evolve, perception is everything.
WOW
Amazingly well put Sir!