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Why Institutions Are Going ALL-IN on Bitcoin | Beyond Bitcoin · Simply Bitcoin

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  Do you remember when your economics professor called
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  Bitcoin a scam? It serves no purpose.
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  It's not a store of value, it's not a medium in exchange.
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  And as we have seen, if you want it decentralized and not under
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  government control, it is a haven for fraudsters.
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  Yeah, those same ivory tower folks are now teaching Bitcoin
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  one O 1, MIT, Stanford, Princeton and even those
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  Berkeley hippies are grading that Bitcoin homework.
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  Those same institutions who once called Bitcoin a joke are now
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  charging you 50 grand a year to learn it.
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  That's like almost half a Bitcoin.
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  So what happened? And what does that mean for
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  adoption? I'm oceans?
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  This is beyond Bitcoin classes in session.
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  For the first time in 100 years, there's a capital asset other
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  than treasury bills that you can use to capitalize a publicly
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  traded company on. That's that's liquid.
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  Bitcoin is a digital digital commodity, a digital scarcity.
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  And theoretically, if you think through the the implications of
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  having a digital commodity that you capitalize a public company
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  on, if it outperforms the S&P and is more volatile than the
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  S&P, then you will have positively polarized the balance
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  sheet of the company to capital. Which means in theory, you can
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  raise infinite money. And the more money you raise,
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  the wealthy or everybody gets in, the faster the stock price
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  goes up and the more money you can raise.
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  And that's blowing people's minds, right?
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  Because that is such a profound concept that the more money
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  capital I raise, the more capital I can raise.
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  That breaks every textbook at Harvard and Stanford.
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  It's no surprise that in the early 2000 tens, Bitcoin was
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  like the boogeyman of academia. The professors of that time
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  probably shrugged it off and said, you know, it's for
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  criminals only, or it's all going to go to 0.
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  It wastes energy policy. Schemes are usually the most
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  exploitative, the most abusive and the worst.
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  And Bitcoin, frankly, looks exactly like that.
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  These kinds of typical FUD that you've heard dozens and dozens
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  of times. Some schools literally banned
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  mining rigs in dorms because students were tripping circuit
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  Breakers. Well, maybe that's not the only
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  thing they were tripping, am I right?
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  Bitcoin wasn't just ignored, it was actively dunked on by the
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  so-called experts and students alike.
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  And as late as last year, Harvard commencement speaker
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  Chris Pan was speaking about Bitcoin in his commencement
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  speech and was booed by the entire student body.
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  But I urge you to keep an open. Mind, right?
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  Now no, I see bitcoins. The irony is that the students
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  that weren't racking up hundreds of thousands of dollars of loans
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  were already miles ahead of the rest of them by simple Reddit
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  posts. But as we all know, Bitcoin
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  didn't die. Every time it crashed, it came
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  back stronger, like some kind of financial cockroach.
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  Students started underground Bitcoin clubs, hackathons,
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  meetups, even UC Berkeley made it official.
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  MIT literally airdropped Bitcoin to its students back in 2014.
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  Half of them probably spent it on pizza.
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  The other half is probably retired by now.
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  Universities have eventually realized that if you're going to
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  ignore Bitcoin, students will probably learn it without you.
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  So the university is probably thinking, how can I capitalize
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  on this? Let's charge $50,000 a year and
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  teach them about the blockchain. Blockchain is real.
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  It's a technology. We use it.
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  It's going to move money, it's going to move data.
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  It's efficient. We've been talking about that
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  for 12 years too. And it's very small, OK.
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  So I think we've wasted too many words in that.
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  Crypto currencies, there are two types.
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  There's a cryptocurrency which might actually do something.
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  Think if a cryptocurrency has an embedded smart contract in it
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  and then we can use it buy and sell real estate to move data
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  that may have value. The idea of tokenizing,
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  tokenizing things that that you do something with.
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  And then there's one which does nothing.
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  I call it the pet rock, the Bitcoin or something like that.
• 4:09
  Yes, the blockchain. Now I want to pause here for a
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  That's SAT 123.com link in the show notes.
• 4:39
  Fast forward to today and Bitcoin is on the syllabus of
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  some of the most elite colleges in the world.
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  Jack Mallers, who we all love and adore, explains in this clip
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  how some of the most elite colleges, like Harvard, are
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  changing their tune on Bitcoin. You are not going to win and you
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  are not going to survive owning bonds and stocks.
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  The 6040 portfolio is dead and even Harvard agrees.
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  Right after Trump signs this executive order, Harvard bought
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  over $100 million worth of Bitcoin exposure.
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  That is the most prestigious university, not only in America,
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  in the world that has 100 million plus dollar Bitcoin
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  position. Pensions, endowments, sovereign
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  wealth funds are buying Bitcoin because you cannot sustain and
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  survive on bonds. And this is no longer
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  speculative. On this show, I spend months,
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  you know, I really think so. You know, if I ran a pension,
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  you know, if I were in charge of funding teachers in Chicago.
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  But now we're living it. We literally now have the US
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  government writing executive orders in endowments like
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  Harvard. Just saying if we're going to
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  survive, we need actual returns. We can go down the list of these
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  colleges that are offering Bitcoin courses.
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  Princeton, for instance, has a full Bitcoin course, which they
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  also offer on Coursera because their tuition is not very cheap.
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  Stanford, MIT, Berkeley, Cambridge, Columbia, and even
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  Edinburgh all offer courses on Bitcoin.
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  So why does this matter? Well, not to state the obvious,
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  but it means that Bitcoin has reached its next level of
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  adoption. When the best colleges in the
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  world are teaching Bitcoin in their classes, that really means
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  something. That means something.
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  The same professors who mocked Bitcoin are now training the
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  next wave of Bitcoin devs, entrepreneurs, and policy wonks.
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  What's a policy wonk? I have to look that up.
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  Students that are entering Wall Street, Silicon Valley, or the
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  government even, are already orange peeled.
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  Bitcoin has gone from contraband in your dorm room to core
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  curriculum. Adoption isn't just about buying
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  Bitcoin, it's about changing culture.
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  And if Bitcoin has infiltrated the ivory tower of education,
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  that's some culture conquered. What we have with Bitcoin is a
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  new form of software that's that's very has a very tight
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  grip on reality through proof of work mining, right.
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  It's like integrated to energy, if you will.
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  And this technology is, is having implications or or
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  effects on our own code. Like the way I think about this
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  is, look, we're all, maybe this is not an exact term, but we're
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  running cognitive code. We're all running some kind of
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  software to be conscious, right? That's what the brain is.
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  It's the organic computer, whatever you want to call that.
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  Well, our cognitive code is interfacing or interacting with
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  legal codes and moral codes, software codes, all these
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  different codes we've created for ourselves.
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  And the way that the, I guess maybe the purpose of the
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  intention, maybe not just purpose in Earth, the essence of
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  whatever is written into that code has a mutual influential
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  effect on our mind. And that's what seems to be
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  happening with Bitcoin. Yeah, and.
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  Changing us? What I kind of interesting is
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  that, you know, we tend to think that law exists in the outside,
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  right, that laws that are written in a written form, but
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  you know, a lot of laws actually are internal.
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  Like you said, it's a commutative right.
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  So that counter has sexual principles and that liberate our
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  behavior. So for me, society, I I grew up
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  in Japan, so Japanese cultures had certain kind of customs and
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  ways of being right. And even even though I moved to
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  the USI carry these laws, you know, within myself.
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  And then when I interact with Americans, for instance, I catch
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  myself, wow, you know, I am operating with Japanese code,
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  right? And and even though like like so
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  for instance, like we have in Japan, like we have freedom of
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  speech, but you know, we the culture called create a friction
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  because culturally we are not allowed to speak freely.
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  So there are, you know, we kind of regulate our behavior at the
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  unconscious level. We're self censoring.
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  By self censoring and that there is no external law or anything
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  making us to behave like like that, you know, even though the
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  freedom of speech exists technically, but we don't allow
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  ourselves to claim that right? Because of the culture code,
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  right? So, you know, so that's why I
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  found interesting that Bitcoin is global and Bitcoin is
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  creating a new culture, you know, enabling a new set of
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  universal human rights code, so to speak, you know, and the
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  freedom is universal freedom should be applied to everyone,
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  right? And let's not forget that
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  Bitcoin runs on mining. That's the heartbeat of the
• 9:47
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  mining today at SAS mining.com. From ridicule to respect,
• 10:08
  Bitcoin is now a subject at the same schools that once trashed
• 10:11
  in. That's not just education,
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  that's adoption. The orange pill has officially
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  gone Ivy League, and honestly, that's pretty weird.
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  But as we all know, in Bitcoin, weird is kind of normal.
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  Anyway, that's our show for today.
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  Thank you so much for watching imotions.
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  This is beyond Bitcoin. If you like what you see and you
• 10:28
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