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Billionaire BULLISH on Bitcoin

Bill Pulte is the grandson of the infamous PulteGroup founder. Currently the PulteGroup is sitting on an estimated $10B evaluation. Bill Pulte started getting his popularity after he started “Twitter Philanthropy” in which he gives away free money to those in need.  On December 12, Bill announced that he had made a 11 BTC purchase which has values around $78,870. Some skeptics believe that he has made this move in order to gain more popularity to his 1.75M twitter following considering he hasn’t made any real declaration of bitcoins utility. On December 17th just 5 days later he announced that he had purchased more Bitcoin and then made a joke about the Bitcoin spike on the 19th saying he wasn’t the reason for it.

 

This is yet another Billionaire that has decided to take the dive into cryptocurrency, and still Bitcoin remains to be the focus of the philanthropy work. Bitcoins ability to be sent across the world in seconds allow it to be the focal point of free giveaways as the winner can be paid and instantly liquid within a matter of minutes. Many charities have brought an added focus to Bitcoin since the foundation of Bitcoin relates to many values of charities, such that a feature of Bitcoin is allowing everyone to be on the same financial scale. Bitcoin was created to not financially benefit the creator but rather bring some equality to the financial world that many people unfortunately miss out on.

 

Bill Pulte had continued to comment on Bitcoin by saying that it can help some of the poorest areas of the world. This statement does have some truth as we have seen counties like Venezuela start to move into the direction of cryptocurrency since their country’s currency has gone spiraling down. If Bitcoin starts getting accepted globally then it could potentially change financial wellness, since people can offer their services and skills globally instead of in their own area. With Bitcoin being a main currency, it will allow people to interact more easily, and keep more of the money in the user’s pockets as banks won’t be needed to transfer the wealth. However, if Bitcoin is simply used as a peg to a fiat currency then it will not reach its maximum usability potential since it will continue its path of ever changing prices making it hard to hold with the fear of the value dropping overnight.

Image by Steve Buissinne from Pixabay

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“Those who believe in Bitcoin also believe in cleverness." – Arif Naseem