$MSFT's Satya is saying that compute is not the bottleneck, but energy and data center space is. In fact the problem he has is that he has a surplus of GPUs right now sitting which he can't use (glut?).
He is also saying he doesn't want to over buy one generation of $NVDA GPUs. (as each year a new much more capable GPU is coming out). Hint: usefulness of life of GPUs.
I have been saying this for some time now.
This is the letter I sent to @Strike investors.
I have built my life around one principle: if Bitcoin wins, humanity wins.
If we can fix the money, we can fix the world. #Bitcoin
If you think “Tax the Rich” will solve government funding problems, you’re an idiot.
1. They will still spend more than they have
2. They will still print
3. There will still be inflation
4. Public services will continue to erode
5. The rich will move to a low tax / warm country
The facts will not care about your feelings. The only answer is a political revolution and much smaller government.
If you think the answer is anything else you are an economically illiterate moron.
If you think of Coinbase like a bank, we now hold about $0.42T in assets for our customers, which would make us 21st largest bank in the US by total assets, and growing.
If you think of us more like a brokerage, we'd be the 8th largest brokerage today by AUM.
If you think of us like a payments company…TBH i'm not sure where we rank on that list. There are various ways to measure it, but there were about $30T in total stablecoin payments last year (not all of those were goods and services though).
The point is, with crypto the line between these categories is blurring. There are many legacy reasons these are separate in the traditional financial system - and not all of them are good reasons. Why does the money you spend lose value instead of growing in value like an investment? Why does your checking account not earn yield like a savings account (or better yet, like short term treasuries)? Many people use Coinbase to invest, but also to spend, get a loan, etc.
In the updated financial system, you will have a single primary financial account which serves all these functions. A greater % of global GDP will run on more efficient crypto rails over time. We'll have sound money, lower friction transactions, and greater economic freedom for all.
In November 2024, Cynthia Lummis proposed the plan for a Strategic Bitcoin Reserve live on Fox Business.
The plan involves buying 200,000 BTC annually for five years and holding the assets for at least 20 years.
https://t.co/gXyvzH0KA2
JUST IN: $11.5 trillion BlackRock CEO Larry Fink says Bitcoin could go up to $700,000 if there is more fear of currency debasement and economic instability.