For much of 2020, it was not a difficult year to be a cheerleader for cryptocurrency.
Emerging from a brutal macro bear market, the space once again proved skepticism wrong and attracted a new batch of conversions as money printing efforts around the world turned savers and traders into the power of hard money. After coronavirus-related immersion, prices have generally increased, new vertices such as decentralized finance are in a state of parabolic growth, and even organizations are finally getting in on the fun.
And yet, in a year where portfolio values have risen and long-standing opponents take a well-deserved victory lap, there are a few voices and names that stand out for their devotion and enthusiasm.
As 2020 comes to a close, here are just a few of those opponents we are grateful for:
As the red-hot DeFi summer draws to a close, Canadian YouTuber and amateur meteorologist Frankie MacDonald caught the crypto Twitter’s attention for his serious, frank approach to Bitcoin (BTC).
MacDonald, who has been producing home-grown content since 2009 and has collected nearly 125,000 Twitter followers, has been bidding periodic updates on the implementation of Bitcoin prices throughout the year, and in a video titled “My Advice About the Bitcoin,” he categorically declared that “Bitcoin is worth more than American dollars.”
However, one particular clip in Frankie’s drastic 2020 oeuvre in 2020 stands out. On the night of August 7, on the side of a lonely Scottish highway under a sunset, MacDonald announced a wish, a ritual, a blessing to the great northern darkness that looms:
Here’s Me Saying Bitcoin Again pic.twitter.com/724b0kYOSz
– Frankie MacDonald (@frankiemacd) August 8, 2020
He sings with justice. It brings a tear to the eye. It animates the soul of every brave seal hodler as a forgotten homeland hymn.
MacDonald posted the video “Here I Say Bitcoin Again” on August 7. Since then, Bitcoin has soared over 60% – flying as if carried on Nike’s own wings.
Thank you, Frankie.
The rich folk
The rich folk! You know those. They are rich, and shouting at Bitcoin and other cryptocurrencies could help them become even richer, so they waved the pom-poms all year long.
One bearded rich man bought nearly 5,000 Bitcoin while calling the digital currency an “economic empowerment tool.” He bought a different, but annoying rich guy from BTC on a monthly basis until he finally cracked the billion-dollar mark, making sure he tweets on the daily while he was on it. Earlier this month, a bald, wealthy man bought some Bitcoin and annoyed, “I will grow bigger, bigger, bigger.”
Most notably in rich folk news, one of the first wealthy men to turn their toes into digital currency ran a major advertising campaign promoting its digital asset investment vehicles. Although he asked for a bunch of new investors, most crypto Twitter didn’t seem to like it.
So many rich folk were buying Bitcoin, in fact, that it became impractical to report on rich folk buying Bitcoin unless it was linked to some other worthwhile event.
An observer’s attention cannot be blamed for having difficulty telling these rich folk separately. For Tyler and Cameron Winklevoss, it’s almost impossible because they are identical twins, and the same intern may well manage their shameless links on social media:
In the middle of winter, #Bitcoin an insurmountable summer in itself
– Tyler Winklevoss (@tyler) December 12, 2020
#Bitcoin quietly tiptoeing above $ 19K. No big deal. Nothing to see here.
– Cameron Winklevoss (@cameron) December 13, 2020
Snark aside, many of the names mentioned above are responsible for building basic tools and gateways to give cryptocurrency access to other investors. Because of these rich folk, more than one more humble investor could find their way to financial freedom.
In a year in which the rich men appeared locked in a race to see that their organization can hover the largest amounts of Bitcoin, a Canadian restaurant chain serving Middle Eastern fare threw its hat into the ring by converting all its reserves into reserves. Bitcoin.
On August 18, the official Twitter for Tahini’s – a restaurant chain operating four corporate locations and three franchise locations in Ontario – made the big reveal along with a long, thoughtful Twitter thread explaining the move:
As a small company started in London Ontario Canada we operate 4 corporate locations and 3 Franshise locations due to open in Ontario. We have just converted our entire cash reserves that were originally used as savings #Bitcoin
Time for a thread
– Tahinis Restaurants (@TheRealTahinis) August 18, 2020
The justifications seemed to be straight from Bitcoin’s maximizing manual: Cash is a depreciating asset, while Bitcoin is not; cash reserves are less attractive in an inflationary environment; the fiat world is “a game of musical chairs” and ultimately “the music will end and some people will be left out.” The thread was also surprisingly close at times, describing the “come to Bitcoin” journey as one of gradual enlightenment.
The restaurant chain also stands out not only for the bravery and transparency of making the transition, but also for the intellectual seriousness and resolve it transformed.
In a subsequent thread, the chain cited a gold history in arguing for Bitcoin’s superiority. Recent tweets also show Bitcoin meetings at franchise locations as well as the chain participating in the time-honored crypto Twitter tradition of throwing on Nouriel Roubini:
It seems like @Nouriel loves being wrong for a decade. Enough is enough Professor https://t.co/4DcyZp0iqZ
– Tahinis Restaurants (@TheRealTahinis) December 11, 2020
We look forward to seeing what else Tahini cooks in the new year.
Senator Cynthia Lummis
Bitcoin fans and cryptocurrencies come from all walks of life, but there has rarely been a vocal champion for digital currencies at the highest levels of government.
Following the recent election cycle, however, that seems to have changed. Incoming Senator Cynthia Lummis is notable for being the first woman elected to the office from Wyoming, as well as being one of the first willing to fully endorse Bitcoin as a store of value.
In an interview with ABC News earlier in the year, the former state treasurer was not shy about her support:
“I’m a former state treasurer and invested our state’s permanent funds, so I was always looking for a good store of value, and Bitcoin fits that bill. Our own currency is swelling; Bitcoin does not. It’s 21 million that Bitcoin will be mined, and that’s it, it’s a limited supply. So I have confidence that this will be an important player in a store of value for a long time to come. ”
Lummis support is not just symbolic weirdness either. As 2021 looms, it is becoming increasingly important for politicians to have an understanding of the function and potential of cryptocurrencies if they are to enact regulation that allows the place to continue its growth.
Memetic Research and Development Institute
Memes can accomplish many things: create laughter; galvanizing population; building and spreading community values. The absolute best, however, infects the psyche of all who see them with some core kernel of truth – a distilled drop of a period, an entirely solid and self-contained historical monad. Five dollar words aside, they’re also supposed to be funny.
That’s exactly what the folks at the Memetic Research and Development Institute have done with their website brrr.money.
Holy shit who did this?
Sound on for added effect.
Try it for yourself https://t.co/k4MLHT81Nz pic.twitter.com/eeRywv0yDv
– Ramp Capital (@RampCapitalLLC) March 20, 2020
We thank the geniuses at the institute for their contributions this year, and look forward to more of their work.