Bitcoin: Everything there is, divided by 21,000,000
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By LNN
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 $80.6K, it will have passed the Market cap of Silver. How long do you think til that happens?
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By LNN
Cash is being diluted by a few % per year. Since they have many billions in cash this small % comes in the form of millions and even tens of millions of dollars worth of dilution for them.
This cash dilution has been going on for decades and typically in these cases large corps would look to treasury bonds. They essentially purchase these “same as cash” US Treasury bonds and keep those which increase a few % per year. And the growth on those bonds offsets the loss on their pure cash and all is well with the world.
This year however there was a change. The interest rate in treasury bonds is near 0% so they don’t have anything to offset their cash dilution. Compounding on this the worlds central banks are “printing” more money. This is INCREASING the rate of dilution. Where before they were losing 1-2% now they fear they could be losing 7-10% due to this.
The result is a strong demand for an alternative high liquidity (same as cash) asset. And Bitcoin is being seen as an option for some more progressive companies.
This might seem like no big deal just a few companies buying some BTC. But these corps have GIANT cash reserves and huge pressure to plug the holes of dilution. They must act in the best interest of the shareholders and ignoring the problem could be seen as mismanagement. In the most bullish cases (microstrategy) they are putting 100% of their cash into Bitcoin ($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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By LNN
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.bloomberg.com/news/articles/2021-02-13/morgan-stanley-may-bet-on-bitcoin-in-150-billion-investment-arm
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:
https://www.businessinsider.com/bitcoin-morgan-stanley-arm-eyeing-150-million-bitcoin-buy-bloomberg-2021-2
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By LNN
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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By LNN
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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By LNN
Although won't Bitcoin make his dream of Universal Basic Income impossible since he can't print more of it and hand it out to the citizens?
Hmmm
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By LNN
While experts were arguing about Apple and would it buy Bitcoin or not, Twitter announced its desire to participate. The Chief Financial Officer of Twitter Ned Segal said on Wednesday that Twitter is looking for options to pay employees in cryptocurrency. It was also said that Twitter wants to put a part of its funds into Bitcoin.
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By LNN
Bank of New York Mellon, the nation's oldest bank, is making the leap into the market for cryptocurrencies. The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. In time, BNY Mellon will allow those digital assets to pass through the same plumbing used by managers' other, more traditional holdings.
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By LNN
https://digitalik.net/btc/cycle_repeat
This graph is showing how it would be if from today price change would repeat it's pattern from previous cycle. It goes 1458 days ahead (full cycle).
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By TheWorldNewsOrg
https://decrypt.co/56058/visa-could-add-crypto-payments-network-says-ceo
In Visa’s fiscal Q1 2021 earnings call yesterday (via The Motley Fool), Kelly took a moment out of his introductory statement to specifically touch on crypto and the opportunity he sees in the space. He detailed Visa’s case for being the largest financial services brand in the industry via its partnerships with 35 platforms and wallets
“In this space, we see ways that we can add differentiated value to the ecosystem,” said Kelly. “And we believe that we are uniquely positioned to help make cryptocurrencies more safe, useful and applicable for payments through our global presence, our partnership approach and our trusted brand.”
If you thought the Paypal news had an impact, wait until Visa jumps in the pool.
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By Money & Finance
“You know what, if you won the lottery – Yes, I’m gonna say it: 5% in Bitcoin,” Cramer said Thursday night on his Mad Money program. His advice came with a few caveats: Don’t buy it all at once, don’t buy it on the weekend. “Crypto could be incredibly volatile,” he said on a day when BTC tanked 13%.
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By Money & Finance
According to data fetched by CryptoQuant, a South Korea-based blockchain analytics firm, Bitcoin miners at Chinese mining firm F2pool started the massive sell-off that crashed the BTC/USD exchange rate by almost 20 percent in just less than 24 hours.
CryptoQuant deduced the mining pool’s act as the main catalyst that slumped its price from $35,498 to $28,732 in just 24 hours.
Meanwhile, New York-based cryptocurrency investment firm Grayscale Investments purchased more than $600 million worth of BTC this week, especially as the price was heading lower.
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By Money & Finance
I like his point about one being available to the entire world while the other to those with a brokerage account. Nailed it!
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By Money & Finance
Documentary about the cryptocurrency Bitcoin: Bitcoin: Beyond The Bubble - What is Bitcoin?
With the advent of Bitcoin, the world's premier digital currency, for the first time in history money is no longer controlled by banks or governments, but by the people who use it.
Bitcoin: Beyond The Bubble (2018)
Director: Tim Delmastro
Writer: Tim Delmastro
Stars: Jeff Berwick, Catherine Austin Fitts, Trace Mayer
Genre: Documentary | Short
Country: Australia Language:
English Release
Date: 1 May 2018 (Australia)
Storyline: What is Bitcoin? With the advent of Bitcoin, the world's premier digital currency, for the first time in history money is no longer controlled by banks or governments, but by the people who use it. But where did this currency come from? How does it work? And is it truly the way forward, or just a flash in the pan?
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By Money & Finance
Money is simply a tool that humans use to move value across space and time. Fiat currencies were clearly designed to be spent. Wanting to save the fruits of your labor with a fiat currency is totally foolish.
https://medium.com/in-bitcoin-we-trust/optimized-for-moving-value-across-space-and-time-bitcoin-fixes-the-flaws-of-gold-and-fiat-3a637ef66e51?sk=d942de190ffed45ba8f5d3dfd601c79a
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By Money & Finance
https://investments.metlife.com/content/dam/metlifecom/us/investments/insights/research-topics/macro-strategy/pdf/MIM-GEMS-The-Blockchain-Blockbuster_Yapese-Stones-to-Central-Bank-Digital-Currencies.pdf
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By Money & Finance
Ex-Canadian PM Stephen Harper has said that Bitcoin could be used as a part of a basket of reserve alternatives to the US dollar. He added that central bank digital currencies, or CBDCs, were “inevitable” to some degree at one point, but it would still be subject to various monetary policies. He also expressed his concerns regarding central banks becoming “kind of a general banker” rather than just a financial monitor.
https://thedailychain.com/ex-canadian-prime-ministers-says-bitcoin-could-be-a-reserve-currency/
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