So that was around March? Around the Pandemic crash? Then didn't he already get pretty lucky? Since right now his funds are up by 300% or close to that. Or the decision just started in March, but they still didn't buy then until now? If so, then they've lost out on some potential profit. Still, I gotta say, from a business stand point, the decision seems REALLY risky. If it were a part of their total savings, then sure, but all of them? Not that I'm doubting but Bitcoin is a highly volatile asset. Said decision is really risky since they could potentially lose a lot of their funds if something goes really wrong. But if they were to only invest the savings by that point, and not invest anymore, then it could be helpful. Difficult in the early days, but should be manageable, the problems would decrease though the risk would still stay.
" He said they would proceed to use Bitcoin as a reserve asset — "perhaps permanently if we don't need fiat."
I don't think that's going to happen. Permanently removing fiat means leaving the financial economy on a basically non-transparent situation, where no control could be held over. A lot of issues could prop up, especially from those who don't really know how to manage their finance properly.