The man from the future

Diego, my partner at SaaSholic and CEO at Rock Content, has always referred to Matt Doyon, Rock’s VP of Sales, as “the man from the future”.

Matt joined Rock Content in 2015 and it wasn’t easy to convince him to leave Hubspot and move to Brazil to join a nascent startup with very little revenue.

Matt was paramount for Rock.
While all Brazilian tech and SaaS startups were still struggling to figure out how to make Inside Sales and Inbound Sales work, he had already seen it working and had already learned from the masters at Hubspot (which at the time was already a listed company and famous for its sales efficiency).

Rock rapidly became a sales powerhouse and was able to outcompete to death its direct competitor at the time (Contentools) and achieved hyperscale in 2016/2017 because the founders manipulated the space-time fabric by bringing “the man from the future” (ok. I know that I’m reading way too much science fiction lately)

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Yesterday I saw on twitter some people discussing the Turkish Lira meltdown of 10% in a day. I ended up falling into this very interesting rabbit hole.

These stats from the article instantly caught my attention:

On January 15, 2021, the number of people investing in the Turkish Stock Market went past 2 million for the first time. By April 24, 2021, there were more than 5 million users registered to the two biggest Turkish Bitcoin exchanges.

https://bitcoinmagazine.com/culture/turkish-tribal-war-against-bitcoin

Turkey’s economy is in very bad economic shape. And it is being led by a very questionable pilot with questionable interests and even more questionable tactics.

Turkey might be worse than most/many other countries but surely isn’t alone.

The covid pandemic aggravated economic issues in most countries and there are some countries already experiencing very high inflation (Argentina, Lebanon, Brazil, just to name a few) and many others on the brink of facing the same challenge.

Watching Turkish people’s reaction against their inflation might be the same as taking a glimpse into the future of many other countries and people.

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Human beings had an instinctive reaction of resorting to the dollar in times of exacerbated inflation and uncertainty.

Part of this instinct is now suffering a mutation and finding in Bitcoin its safe haven. This mutation isn’t only happening in Turkey. I’m starting to observe the same pattern arise among regular Brazilians (not to mention the folks on my corner of the internet and professional tech network).

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My natural conclusion is: if Bitcoin keeps being seen as a hedge against hyperinflation, it’ll see a durable bull run that will last for at least as much as the COVID hangover lasts.
(It may last much longer if/once the network effects really kick in and when people start using it not only as a reserve of value).

And since Bitcoin’s market cap is much smaller than the Dollar’s, if 1% of the inflation-dodging capital ends up being allocated into BTC, its value and market cap will soar. (I won’t try to do any maths or price prediction here because it’s way out of my league).

Not investment advice.