re: Microsoft to vote on holding Bitcoin as a reserve asset.

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what I should have typed out was "Blackrock's customers" as in people/organizations that buy their financial instruments.

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Blackrock customers in large part are buying passive index funds. These funds are the primary reason they are the largest shareholders of so these companies. Since there is no pass through voting through passive indexing it is by default that Blackrock will either abstain or side with the board since they have no true interest to serve.

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There's about $10T of gold that's held for investment purposes. Does that gold hold that value because it's also used in jewelry and a bit in industrial applications? Or is one of gold's use cases that it's an investible financial asset/store of wealth?

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Yes it primary value is is utility. However like every crypto bro you try the same tactic. Avoiding the issue why crypto market caps are artificially inflated by unregulated, unbacked stable coins being printed into the billions. Unlike gold very little real money is entering into the crypto ecosystems. It's a dump on retail from "early investors".

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Stupid Crypto Talking Point #10 (value)
“Bitcoin/crypto is a ‘store of value’” / “Bitcoin/crypto is ‘digital gold'” / “Crypto is an ‘investment’“

Crypto’s “value” is unreliable and highly subjective. It cannot be used as a currency or to pay for almost anything in any major country. It has high requirements and risk to even be traded. At best it’s a speculative commodity that a very small set of people attribute value to. That attribution is more based on emotion and indoctrination than logic, reason, evidence, and utility.

Crypto is too chaotic to be any sort of reliable store of value over time. Its price can fluctuate wildly based on everything from market manipulation to random tweets. No reliable store of value should vary in “value” 10-30% in a single day, yet many cryptos do.
Crypto’s value is extrinsic. Any “value” associated with crypto is based on popularity and not any material or intrinsic use. See this detailed video debunking crypto as ‘digital gold’

Even gold, while being a lousy investment and also an undesirable store of value in the modern age, at least has material use and utility. Crypto does not. And whether you think gold’s price is not consistent with its material utility, if that really were the case then gold would not be used industrially. But it is.

The supposed “value” of crypto is based on reports from unregulated exchanges, most of whom have been caught manipulating the market and inflation introduced by unsecured stablecoins. There’s nothing “organic” or “natural” about it. It’s an illusion.

The operation of crypto is a negative-sum-game, which means that in order for bitcoin/crypto to even exist, there must be a constant operation of third parties who must find it profitable to operate the blockchain, which requires the price to constantly rise, which is mathematically impossible, and the moment this doesn’t happen, the network will collapse, at which point crypto will cease to exist, much less hold any value. This has already happened to tens of thousands of cryptocurrencies.

There is not a single example of anything like crypto, which has no material use and no intrinsic value, holding value over a long period of time across different cultures. This is not because “crypto is different and unique.” It’s because attributing value to an utterly useless piece of digital data that wastes tons of energy and perpetuates tons of fraud,makes no freaking sense for ethical, empathetic, non-scamming, non-exploitative, non-criminal people.

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crypto stupid talking points