The Fortress Investment Group has a very wide variety of assets in its portfolio. Do these include Bitcoin and other cryptocurrencies? Why should the Fortress be mining Bitcoin?
Bitcoin is an Investment
When the Spanish found all of the South American gold mines, they were ecstatic. Gold was money. It gave them the money, they needed to build a powerful empire.That is kind of the mindset of Bitcoin miners. They are making digital money. They envision themselves as the Spanish Conquistadors. They plan on ruling the world.So, why doesn’t the Fortress Investment Group get involved in Bitcoin mining? It would increase cash flow. It could generate its own digital capital. SoftBank purchased Fortress for some $3.3 billion in 2017 and surely some of that could be used for Bitcoin mining. The potential is dramatic.The United States has a good infrastructure with plenty of electricity. It would be easy to run Bitcoin miners 24/7/365. This could also help with the American deficit problems. They could pay their bills with Bitcoin.Bitcoin has moved from being an experiment to being an investment. Fortress is acting like an investment bank, so it only makes sense that it would add cryptocurrencies, doesn’t it?
Paid in Bitcoin
Investing in digital tokens would diversify the portfolio of the Fortress. It could expand into a new realm. Bitcoin is popular with the young generation.More and more products and services will be purchased with Bitcoin. Eventually, the Fortress is likely to have some Bitcoin on its books. So, it might as well jump in feet first and start investing in the cryptocurrency.As a Bitcoin miner, it could have more control over its eMoney. It would understand the process for making the coins. This would give it leverage.Fortress has been involved in IPOs, why not ICOs? The Fortress Investment Group could expand its financial services to create new digital coins. It could charge underwriting fees for the new companies.
Whether the Fortress Investment Group likes it or not, Bitcoin is money. If the Fortress Investment Group wants to be relevant, it must use the currency of the world. After SoftBank purchased the Fortress Investment Group, it probably started using the Japanese yen. Why not add Bitcoin too?Bitcoin has many volatile days. Fortress could speculate on the price movements, just as it has speculated on other assets. Some think that Bitcoin could replace paper money. SoftBank wants to prepare for the future, so it might want to think about Bitcoin. #Perhaps, that is the new path for the Fortress. After, SoftBank took it over, it needed to find more profitable assets. Now, it can become the Fortress of Bitcoin.