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JOHN ARNOLD
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Bitcoin @ Ten31

All you had to do was stay humble and stack sats.

That too, but more specifically:

$750 billion asset manager telling you pensions need to stop passively allocating into government credit

Probably nothing

https://www.alliancebernstein.com/content/dam/global/insights/insights-whitepapers/pensions-and-bonds.pdf

Stay humble and study sats flows

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Since the genesis block, every capital allocator has been benchmarked against a new hurdle rate; most just haven’t realized it yet.

Bitcoin is the world’s new cost of capital, and outperforming it — read: stacking more sats over time — is the only rationale for putting money to work. More here:

https://ten31.vc/insights/outperforming