Actually I think acquiring Bitcoin companies seems like a more promising move for fiat companies. It means tapping into an existing financial setup (balance sheet enriched with Bitcoin.)

You also get a team of skilled developers, engineers, and a bitcoin marketing team, although building such a team from scratch has its own merits. (But why would talented devs and bitcoiners go work for a fiat company. Not likely or not the ones you want to hire.)

There’s the added benefit of established brand recognition and some groundwork in legal and regulatory compliance, which could be strategically beneficial.

But I think overall operating as a business in Bitcoin takes at least a cycle to understand the lay of the land imho.

Also most of these bitcoin companies are valued much lower then you would pay to hire and deploy capital to enter in.

The only other way this works is if a bitcoin vc invests directly into these fiat companies with the caveat they’ll will implement bitcoin.

If that’s the case they can get the rest of their portfolio companies to play ball with them.

🤙