LNN
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NZ Fund’s KiwiSaver Growth Strategy fund, which had investments worth just over $350 million at the end of December, had around 5 per cent of its money in bitcoin, Grigor said.
that's around 17.5m they've invested in bitcoin in case you are wondering....
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We must all drive electric cars to save the environment but using electricity to mine bitcoin will destroy the earth...
All of America's kitchen microwaves on standby use twice as much energy as bitcoin mining.
“Although we agree the amounts are ludicrous right now, that is still half as much as inactive home appliances in the U.S. consumed,” Rauchs said. The amount of energy wasted on idle home devices like phone chargers and microwaves in the U.S. could power the bitcoin network for two years. Bitcoin’s wild ride renews worries about its massive carbon footprint
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Bitcoin took just 12 years from its creation to reach a trillion-dollar market cap. It took Microsoft 45 years and Google 22 years to reach the $1,000,000,000,000 mark!!!
When Bitcoin is at $80.6K, it will have passed the Market cap of Silver. How long do you think til that happens?
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Cash is being diluted by a few % per year. Since they have many billions in cash this small % comes in the form of millions and even tens of millions of dollars worth of dilution for them.
This cash dilution has been going on for decades and typically in these cases large corps would look to treasury bonds. They essentially purchase these “same as cash” US Treasury bonds and keep those which increase a few % per year. And the growth on those bonds offsets the loss on their pure cash and all is well with the world.
This year however there was a change. The interest rate in treasury bonds is near 0% so they don’t have anything to offset their cash dilution. Compounding on this the worlds central banks are “printing” more money. This is INCREASING the rate of dilution. Where before they were losing 1-2% now they fear they could be losing 7-10% due to this.
The result is a strong demand for an alternative high liquidity (same as cash) asset. And Bitcoin is being seen as an option for some more progressive companies.
This might seem like no big deal just a few companies buying some BTC. But these corps have GIANT cash reserves and huge pressure to plug the holes of dilution. They must act in the best interest of the shareholders and ignoring the problem could be seen as mismanagement. In the most bullish cases (microstrategy) they are putting 100% of their cash into Bitcoin ($BILLIONS). More conservative companies (square, Tesla) are putting 1-10%.
But there’s thousands upon thousands of corporations that still do not have a cash dilution mitigation strategy that includes Bitcoin. And they are starting to adopt. Black rock, the world largest hedge fund with $7TRILLION of assets under management has made public they have an interest. So have major banks and payment processors (JPMorgan, visa mc)
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This is the plan, I believe. CBDC's and monetary control of the global population. All pushing the green agenda, hence the push back against Bitcoin being an energy burner. This will be their attack vector.
I would add that Bitcoin is out of the gate and way ahead. It will be interesting to see how they try and stop it.
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Alexander the Great is one of the most extraordinary individuals in history. He became king of the fringe Greek kingdom of Macedonia in 336 BC at the age of just 20, and before his death twelve years later, had imposed Macedonian overlordship on Greece, destroyed the mighty Persian Empire and led an army deep into modern Afghanistan and to the Indian frontier.
At Opis he faced a mutiny by his Macedonian troops, angered that he wanted to send some of them home, while appearing to give preference to his new Asian subjects, and adopting many of their customs.
Alexander dealt ruthlessly with the ringleaders, before (according to 'The Anabasis' by Roman historian Arrian) making a speech to his army in which he berated his troops for their disloyalty.
The speech, as it has reached us, was no doubt written by Arrian rather than Alexander. His actual words are now impossible to ascertain. But Arrian had access to eyewitness accounts which are now lost (principally Ptolemy and Nearchus), and modern historians generally agree that the speech was a real historical event, and that Arrian gives a good representation of its likely content. Putting its (contested and debated) value as a historical source to one side, the scene - as it appears in Arrian - is a brilliantly written moment of high drama and emotion, in which Alexander first highlights his debt to his father Philip, before launching into a tirade in which he lists his own astounding achievements and qualities of leadership.
The speech has been abridged and edited for this video.
You can read Arrian's full version in English translation here:
https://en.wikisource.org/wiki/The_Anabasis_of_Alexander/Book_VII/Chapter_IX
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Counterpoint Global, a unit of Morgan Stanley Investment Management that’s racked up wins in mutual-fund rankings, is exploring whether the cryptocurrency would be a suitable option for its investors, according to people with knowledge of the matter. Moving ahead with investments would require approval by the firm and regulators.
https://www.coindesk.com/morgan-stanley-unit-considers-150-billion-bitcoin-investment-bloomberg
I think this is a better article. Actually tells you in the headline that Morgan Stanley is:
considering a 150 million dollar investment into Bitcoin
- not 150 billion
And it has a nice quote at the end by Janet Yellen, US Treasury Secretary, reminding everyone that government regulation can still bring volatility to the crypto market:
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Cherenkov light appears when a charged particle travels through matter faster than light can. This effect is the optical equivalent of a sonic boom, which occurs, for example, when a jet travels faster than the speed of sound.
But how can a particle go faster than light without violating the laws of physics? The speed of light in a vacuum is the ultimate speed limit: 300,000,000 meters per second. It's thought that nothing can travel faster.
However, light slows down when it goes through water, glass and other transparent materials—in some cases by more than 25 percent. Hence a particle can slip through material faster than light does, while at the same time staying below the speed of light in a vacuum.
When this happens, a particle emits bluish Cherenkov light, which spreads out behind it in a hollow cone that is shaped like the cone of a sonic boom. This light gives the water surrounding a nuclear reactor core its distinctive blue glow.
https://www.symmetrymagazine.org/article/august-2009/explain-it-in-60-seconds-cherenkov-light
So ... is the particle giving off light? or just nearby photons reacting to the super fast particle?
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Let’s see if the “elites” will have no possessions and be “happy.” Something tells me they aren’t going to practice what they preach.
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“You will own nothing, and you will be happy”? | The Great Reset
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Twitter CEO Jack Dorsey has announced a $23.56 million endowment to a trust that will fund the development of Bitcoin in Africa and India. The fund will be set up as a blind irrevocable trust and take zero directions from the board members. Dorsey also called for three board members to start the trust, whose stated mission is to "make bitcoin the internet's currency."
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Bitcoin's market cap has surpassed $900 billion for the first time. Earlier today, the cryptocurrency hit a new all-time high of $49,000 on the Bitstamp exchange before retracing below $47,000. The flagship coin has soared over 26% this week alone.
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WOW! Miami Mayor Francis Suarez just got Miami into Bitcoin.. from r/Bitcoin
People are concerned about bitcoin’s potential use in criminal endeavours. And the first US city to heavily promote it? Miami
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US Securities and Exchange Commissioner Hester Peirce has said the US capital markets are ready for a bitcoin exchange-traded product. She said people are already eager to trade a bitcoin ETP. She also pushed back against an emerging government narrative that cryptocurrency is a dangerous rail for terrorist financing.
For people who are not aware - ETP is the umbrella term for the collection of financial products traded on a stock exchange that include ETFs.
Yes, she's always been pro Bitcoin. But her language is very telling. She said the US capital markets "are ready" for an ETF.
There needed to be a lot of infrastructure in place before they can approve an ETF and the environment is improving for btc so much that all of those requirements are finally in place.
This is very, very positive for Bitcoin. We might see an ETF this year!
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Year of Bull = Year of BITCOIN
Happy New Year Folks.
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Pension Funds Are Investing in Bitcoin
in Topics
Posted
New Zealand's KiwiSaver Growth Strategy Fund has invested 5% of its money in bitcoin. The fund's chief investment officer, James Grigor, said he expects competitors to follow suit over the next five years. The NZ$350 million (US$244 million) fund first began investing in cryptocurrency in October 2020.