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Yes, I think Virgin will add Bitcoin to its balance sheet in 2021
Last year Michael Saylor shocked the world by not only putting Bitcoin on MicroStrategy’s balance sheet, but issuing debt to load up over $1.3 Billion worth. The stock price has absolutely surged. Microstrategy began BTC purchases in August of 2020 when MSTR’s stock price was roughly $150 a share. It’s now trading at $1273. Why? MSTR is being used as a vehicle to gain exposure to the underlying Bitcoin holdings via investment funds who can’t purchase Bitcoin directly due to their fund’s covenants. Let me give you a bit of history as to why I think Branson will be the first to backstop an airline with Bitcoin, maybe even the entire group, but Virgin Atlantic and/or Virgin Galactic seem like surefire targets in my mind. Without going too far back…let’s flashback to this moment on 12/20/2020 when the tectonic plates of Tesla moved.
If you want to do your shareholders a $100 billion favor, convert the $TSLA balance sheet from USD to #BTC. Other firms on the S&P 500 would follow your lead & in time it would grow to become a $1 trillion favor.
— Michael Saylor⚡️ (@saylor) December 20, 2020
If you follow Bitcoin or Crypto at all, this was pretty crazy and set the entire space on fire. Musk responded back…and it seemed as though the game was on. Saylor said he would give him his entire playbook.
Yes. I have purchased over $1.3 billion in #BTC in past months & would be happy to share my playbook with you offline – from one rocket scientist to another.
— Michael Saylor⚡️ (@saylor) December 20, 2020
The entire playbook must have been discussed. Rumor has it Tesla started buying early January. But, even more importantly, Saylor hosted an entire Bitcoin conference last week: MicroStrategy World 2021. It had thousands of representatives from corporations around the world attend virtually. The purpose? How do companies put this stuff on their balance. Why? Perception change in the wake of continued profligate spending worldwide: Cash is a liability not an asset you could say. Bitcoin is the scarce deflationary answer.
Tesla breaks the seal
Yesterday…it was announced that Elon Musk had used Tesla to purchase $1.5Billion of Bitcoin and will soon start accepting payments with Bitcoin for Tesla. The big message here to me…tectonic plates have shifted. Acceptance and adoption just had a paradigm shift. No you can’t buy movie tickets and popcorn with your BTC yet, but the bridge just got built. Tesla will start building up even more Bitcoin through open market purchases, but also the exchange of fiat into Bitcoin by way of Tesla purchases.
Guess who already owns Bitcoin? That’s right Richard Branson
In 2014 Branson told CNBC that he already owned Bitcoin and that he would be accepting Bitcoin for Virgin Galactic flights. Back it was surprising, but honestly no one really cared. Plus, the market for VG is so slim, but if Branson was open to it 7 years ago…
Who is Chairman of Virgin Galactic? Chamath Palihapitiya
Chamath has been a vocal supporter and advocate of Bitcoin, in fact I’d say he is one of the spaces largest advocates often going against MSM’s characterizations. He may well be one of the largest single owners of BTC in the world with holdings estimated well into the Billions. How do you think those phonecalls are going with Branson post Tesla news?
Bitcoin was $130 when I wrote this and suggested everyone put 1% of their net worth in it. Now, I'm convinced it will exceed value of gold. https://t.co/AjS0PPxO8t
— Chamath Palihapitiya (@chamath) June 7, 2017
Will Branson announce that Bitcoin is being put on Virgin or one of Virgin’s subsidiaries balance sheets this year?
Personally, I think it’s a when not an if. Just look at what happened to Microstrategy’s stock price after the announcement. Virgin could issue additional equity at higher prices to fund continued operations as Bitcoin moons. Branson went through an insane battle earlier in the pandemic and even offered to put up his Necker Island holding as collateral to secure a loan for continued operations of Virgin Atlantic. What would happen if an airline put Bitcoin on its balance sheet? I’m biased, certainly, because I think Bitcoin will gain further adoption, but I also think a move like this is right up Branson’s street. It’s bold. It’s trendsetting. If Bitcoin continues to moon it would take stress off of continued airline operations because investors would view the company as a potential play on the Bitcoin space. He would be the first in his industry to make this play, but also he has one of the biggest Bitcoin evangelists’s as Chairman of Virgin Galactic, Chamath Palihapitiya.
Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Chase Sapphire Preferred® Card
Welcome Offer
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Annual Fee
$95
Points Earned
Transferrable Chase Ultimate Rewards
- 5x on all travel purchased through Chase Travel℠
- 3x on dining, including eligible delivery services for takeout & dining out
- 3x on select streaming services
- 3x on online grocery purchases
- (excluding Target, Walmart and wholesale clubs)
- $50 Annual Chase Travel Hotel Credit via Chase Travel℠
- The begins immediately for new cardmembers and after your account anniversary for existing cardmembers
- 2x on all other travel
- 10% Anniversary Bonus
- Every year you keep the card, your total spend will yield a 10% points bonus. If you spend $10k in a year, you’ll get 1k bonus points
- Chase Sapphire Preferred continues to redeem at 1.25c in the Chase Travel℠ and the slew of other benefits remain in tact including Auto Rental Collision Damage Waiver ( primary ), purchase protections, etc.
- Points are transferrable to 14 Ultimate Rewards partners
- Redeem in Chase Travel℠ for 1.25 cents per point
- No foreign transaction fees
- Suite of Travel and Purchase Coverage
- Auto Rental Collision Damage Waiver is my favorite
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
- $95 Annual Fee
We keep an up to date spreadsheet that lists the best ever offers: You can find that spreadsheet here.
Historically 80k is a very, very good offer and hit in both 2022 and 2023. In 2021, we saw the offer hit an all time high of 100k. Who knows if that will ever come back.
Main Cast:
Cards that earn flexible points and should be used on the bulk of your purchases.
Supporting Cast:
Cards that earn fixed points in the currency of the airline/hotel and can not be transferred at attractive rates. These cards yield benefits that make it worth keeping, but not necessarily worth putting a lot of your everyday spend on.
The Chase Sapphire Preferred® is exceptional starter card and offers transferrable Ultimate Rewards, and pairs well with other Chase cards.
If you carry this card alongside Chase’s cashback cards like the Chase Freedom Flex® and Chase Freedom Unlimited® or the business versions: Ink Business Cash® , Ink Business Unlimited® you can combine the points into Preferred account and transfer into hotel and airline partners
Annual fee is quite low at $95 a year + you get a 10% anniversary bonus on points + $50 hotel credit in Chase travel.
The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.