For much of 2020, cheerleading cryptocurrency wasn’t exactly a tough year.
Emerging from a brutal macro bear market, the room again proved doubtfully wrong, attracting a new group of converts as money printing efforts around the world alerted savers and traders to the power of the hard currency. After a coronavirus-related drop, prices have risen across the board, new industries like decentralized finance are in a state of parabolic growth, and even institutions are finally enjoying themselves.
Yet in a year when portfolio values have risen and longtime proponents have had a well-deserved victory lap, there are some voices and names that stand out for their dedication and passion.
As of the end of 2020, here are some of the proponents we are grateful for:
As the scorching DeFi summer drew to a close, Canadian YouTuber and amateur meteorologist Frankie MacDonald caught the attention of Crypto Twitter for his serious, passionate attitudes towards Bitcoin (BTC).
MacDonald, who has been producing homemade content since 2009 and amassing nearly 125,000 Twitter followers, provides regular updates on Bitcoin price promotions year-round. In a video titled “My Advice About Bitcoin,” he definitely stated, “Bitcoin is worth more than US dollars. ”
However, one particular clip in Frankie’s formidable cheerleading oeuvre from 2020 stands out. On the evening of August 7th, on the side of a lonely highway in Nova Scotian, under the setting sun in the growing great darkness of the north, MacDonald proclaimed a wish, a rite, a blessing:
Here I say Bitcoin again pic.twitter.com/724b0kYOSz
– Frankie MacDonald (@frankiemacd) August 8, 2020
It rings with justice. It brings a tear to the eye. It invigorates a gallant zeal in the soul of every hodler like the hymn of a long-forgotten motherland.
MacDonald posted the video “Here I say bitcoin again” on August 7th. Since then, Bitcoin has risen by over 60% – and flies like it is on Nike’s wings.
Thank you, Frankie.
The rich people
The rich people! You know them. They are rich, and their cheers over Bitcoin and other cryptocurrencies could help them get even richer. Therefore, they waved the pompoms emphatically all year round.
A bearded rich man bought nearly 5,000 bitcoin while calling the digital currency an “instrument of economic empowerment.” Another, but also grizzled, rich man bought up a ton of BTC every month until he finally cracked the billion dollar mark and made sure he tweeted daily while he was at it. Earlier this month, a bald, famously spirited, rich man bought Bitcoin and disturbingly proclaimed, “I’m getting bigger and bigger and bigger.”
On the news of the rich in particular, one of the first rich people to dip his toes in digital currencies ran a major advertising campaign to promote his digital asset investment vehicles. While it eventually attracted a number of new investors, most crypto twitterers didn’t seem to like it.
In fact, so many rich people were buying Bitcoin that it became impractical to report on rich people buying Bitcoin unless it was tied to another major event.
An observer cannot be blamed for having difficulty telling these rich people apart. In the case of Tyler and Cameron Winklevoss, this is nigh on impossible as they are identical twins and their naughty social media handles may be managed by the same intern:
In the middle of winter, #Bitcoin found an invincible summer in itself
– Tyler Winklevoss (@tyler) December 12, 2020
#Bitcoin is quietly tiptoeing over $ 19K. No big deal. There is nothing to see here.
– Cameron Winklevoss (@cameron) December 13, 2020
Aside from Snark, many of the above names are responsible for building basic tools and gateways to allow other investors to access cryptocurrency. Because of these rich people, more than one humble investor could find their way into financial freedom.
In a year when the rich appeared to be embroiled in a race to see whose institution could suck up the biggest sums of money from Bitcoin, a Canadian restaurant chain that serves Middle Eastern dishes threw its hat in the ring by they converted all of their cash reserves into bitcoin.
On August 18, the official Twitter for Tahini’s – a restaurant chain that operates four corporate locations and three franchise locations in Ontario – made the big reveal, accompanied by a long, thoughtful Twitter thread explaining the move:
As a small company founded in London, Ontario, Canada, we operate 4 corporate locations and 3 Franshise locations due to open in Ontario. We have just converted all of our cash reserves that were originally used as savings into #Bitcoin
– Tahinis Restaurants (@TheRealTahinis) August 18, 2020
The justifications seemed straight out of the manual of bitcoin maximalism: cash is a depreciating asset, bitcoin is not; Cash reserves are less attractive in an inflationary environment; The Fiat world is a “game of musical chairs” and eventually “the music will stop and some people will be left out”. The thread was also surprisingly intimate at times, describing the “Come to Bitcoin” journey as a journey of gradual enlightenment.
The restaurant chain is not only characterized by the courage and transparency of the conversion, but also by the intellectual seriousness and determination with which it converts.
In a follow-up thread, the chain laid out the history of gold and spoke out in favor of Bitcoin. Recent tweets also show Bitcoin meetups at franchise locations as well as the chain involved in the old crypto Twitter tradition of dunking on Nouriel Roubini:
It seems like @Nouriel loves to be 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 makes in the new year.
Senator Cynthia Lummis
Proponents of bitcoin and cryptocurrencies come from all walks of life, but there has seldom been a vocal champion for digital currency at the highest levels of government.
However, this seems to have changed after the recent election cycle. Incoming Senator Cynthia Lummis is the first woman to be elected to office from Wyoming and one of the first to stand ready to fully endorse Bitcoin as a store of value.
In an interview with ABC News earlier this year, the former treasurer didn’t shy away from her support:
“I am a former treasurer and have invested the permanent funds of our state. That is why I have always looked for a good store of value, and Bitcoin fits that bill.” Our own currency is inflating; Bitcoin doesn’t. There are 21 million Bitcoin being mined, and that’s it, it’s a limited amount. I am therefore confident that this will be an important value creation factor for a long time to come. “
The support from lummis isn’t just a curiosity either. With the year 2021 approaching, it will become increasingly important for politicians to understand the function and potential of cryptocurrencies if they are to enact regulations that will allow the space to continue its growth.
Institute for memetic research and development
Memes can do many things: create laughter; electroplate a population; construct and disseminate the values of a community. The absolute best, however, infect the psyche of everyone who sees them with a core of truth – a distilled drop of an era, a completely reified and self-contained historical monad. Aside from five dollar words, they’re also supposed to be fun.
This is exactly what the staff at the Institute for Memetic Research and Development did with their website brrr.money.
Holy shit who did this?
Tone on for additional effect.
Try it out https://t.co/k4MLHT81Nz pic.twitter.com/eeRywv0yDv
– Ramp Capital (@RampCapitalLLC) March 20, 2020
We thank the geniuses of the institute for their contributions this year and look forward to further work.