Bitcoin Enters American Culture
Bitcoin further embeds itself into American culture with the first sponsored racing car at the famous Indianapolis 500.
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This past Sunday, Bitcoin further embedded its brand into America’s culture by making its debut at the famous Indianapolis 500 race in car No. 21. The black car was covered in the Bitcoin orange logo and it even had a QR code that converted bitcoin into dollars.
The IndyCar Series team Ed Carpenter Racing (ECR) sported the No. 21 Bitcoin Chevrolet in front of millions of viewers. The driver at the wheel was 2020 NTT IndyCar Series Rookie of the Year Rinus VeeKay.
For anyone who’s questioning bitcoin’s current sideways price action and this bull market, just zoom out. The Bitcoin racer not only finished in 8th place in front of millions in one of America’s most cherished sporting events, but it lit up media coverage and infiltrated another hailed American sport.
We’re starting to see more bitcoin adoption away from traditional finance and retail investors. The Bitcoin brand and new money technology are being adopted by professional athletes and organizations. We’ve seen European soccer leagues and recently the NFL show signs of adoption, with athletes like Russell Okung, Sean Culkin and first round draft pick, Trevor Lawrence accepting bitcoin and crypto as part of their NFL salary. Now, we have race car drivers zooming around the track at 235 mph.
These moments can’t be overlooked. Every time the Bitcoin brand is adopted by a different set of people, the monetary network connects to different social networks intertwining the two cultures and idea sets. Network effects take over and the ideas around sound money, savings technology, government induced inflation and language like “Stack Sats” and “HODL” start to spread.
Bitcoin’s positive monetary feedback loop is strong and exponential. Once you leave fiat, you don’t go back. Just look at the chart below. Which direction do you think we’re heading?
We’re so early in Bitcoin’s adoption cycle, it’s exciting to watch the technology and brand have its moments.
Consider Indy 500 race car fans bitcoiners.
It’s Memorial Day so we’ll keep it short and leave you with a video highlighting another Bitcoin Trojan Horse.
The Fold Bitcoin Rewards Card.
It’s money, but reimagined.
BTC027: The Bitcoin Rewards Trojan Horse w/ Will Reeves
THIS IS NOT FINANCIAL ADVICE. IT’S IMPORTANT TO DO YOUR OWN RESEARCH. INVESTING IN CRYPTOCURRENCY OR ANYTHING FOR THAT MATTER COMES WITH RISK. THE INFORMATION PRESENTED IN THIS NEWSLETTER IS FOR INFORMATION AND ENTERTAINMENT PURPOSES ONLY.