Maze

The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion, but allow very lively debate within that spectrum—even encourage the more critical and dissident views. That gives people the sense that there’s free thinking going on, while all the time the presuppositions of the system are being reinforced by the limits put on the range of the debate. ~Noam Chomsky

(Book [ad]: How the World Works https://amzn.to/4dkXzSJ)

(Art: Photograph by Erich Hartmann)

Bitcoin, Custody, Storage, Liquidity & Market Making

• What do crypto market makers actually do? Liquidity, or manipulation
• Various forms of Bitcoin custody, explained
• How Do The Wealthiest Bitcoin Holders Secure Their Bitcoin?
• How to securely store crypto in software wallets

What do crypto market makers actually do? Liquidity, or manipulation

https://cointelegraph.com/magazine/crypto-market-makers-legit-dodgy-fake-it/

Various forms of Bitcoin custody, explained

https://cointelegraph.com/explained/various-forms-of-bitcoin-custody-explained

How Do The Wealthiest Bitcoin Holders Secure Their Bitcoin?

https://bitcoinmagazine.com/technical/how-do-the-wealthiest-bitcoin-holders-secure-their-bitcoin

How to securely store crypto in software wallets

https://cointelegraph.com/news/how-to-securely-store-crypto-in-software-wallets

Tokenization, 10 years down the road

1. This is 10 years down the road, with, or without us, what flow, flows. 
2. The points have been summarized for our reference. Got time can checkout full content via the respective links.
3. Tokenization is important because it is part of banking services in the near future. 

Good news is, the future is already here, just not evenly distributed.

Tokenization

Anything that can be tokenized will eventually be tokenized.

More than $1 billion worth of U.S. Treasurys has already been tokenized across Ethereum, Stellar, and other blockchains. 

A recent estimate from Ripple forecasts tokenized markets to reach $16 trillion in the coming years, a figure eight times larger than the total market capitalization of the entire cryptocurrency sector.

Headlines 20240510

1. Tokenization to unlock interoperability across payments, investments

The lines between payment and investment assets are becoming increasingly blurred. In the near future, it may be possible to split a dinner and pay using shares of tokenized funds, a blend made possible by tokenizing assets.

This positive blur between investment and payment because it’s ultimately value, right? And we’re unlocking the movement of value.

https://cointelegraph.com/news/tokenization-unlock-interoperability-across-payments-investments

2. SEC doesn’t want Ethereum to transform banking landscape, says Joseph Lubin

... the prospect of the banking industry's customers moving assets into digital forms using decentralized finance constructs could scare many banks and other financial institutions.

https://cointelegraph.com/news/sec-thinks-ethereum-threatens-banking

3. Tokenizing money is the ‘greatest innovation’ after fiat — Tether co-founder

... global economies will likely transition to tokenized money in the next 10 years. 

The Tether co-founder noted that he was among the first institutional investors in PayPal. 

https://cointelegraph.com/news/money-tokenization-greatest-invention-fiat-tether

How to tokenize real-world assets (RWAs) | With Examples

Tokenization is the process of converting rights or ownership of an asset, like real estate or stocks, into a digital token on a blockchain. 

This enables a digital representation of the asset, allowing for fractional ownership, increasing liquidity and making some financial products more accessible to small investors.

https://medium.com/cyfrin/how-to-tokenize-real-world-assets-rwas-with-examples-41635a4f9645

Bitcoin Bull Run

• Post-halving boredom
• Boring Consolidation
• Before bitcoin bull run resumes

3 trends to think about before Bitcoin's bull run resumes

But for those with only a few thousand dollars to invest, investing in Bitcoin isn’t going to make you a millionaire. The near to mid-term growth potential is 2-3 times its current value.

Assets that proved popular in the previous bull run, like new layer-1 protocols and lending platforms, might offer a chance to grow your investment by five to 10 times.

However, risk and return are two sides of the same coin. How much one is willing to gain or lose in crypto really boils down to the time, resources, and energy one is ready to put into studying the market. 

That’s where the beauty of crypto lies: 

for those willing to learn, it's perfectly accessible.

The key is to figure out the story behind each product. 

Innovation stands at the forefront of this space because people in crypto are innovative and constantly looking for something new.

3 Trends:

1) the marriage of artificial intelligence and blockchain technology.

2) the tokenization of real assets or the tokenization of debt. 

In a traditional market, the debt market is larger than the stock market. Yet, in the crypto realm, there is currently no debt market.

3) enhancing blockchain technology itself — improving its efficiency, increasing throughput, and lowering operational costs. 

https://cointelegraph.com/news/3-trends-think-about-before-the-bull-run-resumes

Bitcoin price to ‘sustain’ $265K level once boring consolidation ends — Analysts

The hash rate to market cap ratio assesses the growth of mining activity relative to the market capitalization.

https://cointelegraph.com/news/bitcoin-price-to-sustain-265k-level-once-boring-consolidation-ends-analysts

❗❗*Control the narrative, control the world.*

But how can we use these narratives to delve into the product? 

Imagine an investor who studies a product. 

He is interested, maybe even excited about a project. Every time he encounters something incomprehensible in the document, he highlights it in red. 

Then he looks at the whole description and sees that there is too much red in the document: there is too much he does not understand about the product description. 

And he doesn't invest. 

This is a straightforward strategy: if an investment is too complex to understand, it might not be the right one. 

This approach emphasizes *the need for clarity*.

So, when you're thinking about investing in a trend, remember that the big funds have probably already made a move. 

If there is some kind of noticeable narrative, then they will most likely have already invested in it. 

This is a good reminder to stay informed — understanding that, *in the world of investment, it’s the giants who often lead the game*.

Regulation, Interchange

Regulation (Cross-border globalization)

Interchange

Lending (Incentivization)

• FCA crypto regulators will take the best from TradFi and DeFi, says exec
• Robinhood Q1 crypto trading surges 224% — SEC action ‘disappointing’
• Crypto lending platform Nexo allocates $12M for ecosystem incentives
  
  

Crypto lending platform Nexo allocates $12M for ecosystem incentives

The rewards will be active until July 7 and will incentivize users to trade, earn, deposit, and borrow on the platform.

Crypto lending protocol Nexo is allocating 10 million NEXO tokens, worth $12.5 million at the time of publication, to its users. 

"Stack points, multiply your gains, and unlock more surprises. The Nexonomics-inspired hunt is designed to reward new and existing users for exploring the Nexo ecosystem."

From now until July 7, Nexo users can receive up to 0.01 points per $1 of asset top-ups, 10 points per Nexo Card activation, 0.04 points per $1 in fiat borrowed through Nexo protocol, 0.03 points per $1 invested in Nexo Earn products, and 0.05 points per $1 of boosted trading on Nexo Exchange. The point-to-NEXO-token conversion ratio will be determined at the end of the event. 

"Keep in mind that certain actions can reduce your points balance. For instance, withdrawing crypto assets from your Nexo account will result in a loss of 0.01 points for each $1 withdrawn. Withdrawing BTC will result in a loss of 0.001 points for each $1 withdrawn."

"Suppose you haven't funded your account yet and want to buy $2,000 worth of BTC during the first week of the hunt. In this case, you will receive 450 points (2,000 purchase value x 0.03 points for each $1 purchased x 1.5 Weekly Multiplier x 5 New User Multiplier)."

Due to regulatory restrictions, U.S., U.K., and Canadian citizens and residents are not eligible for the campaign. 

Since its launch six years ago, the popular decentralized finance lending platform has attracted $537.56 million in total value locked (TVL). On March 6, the platform received UAE regulator approval for its local entity Nexo Services FZE for virtual asset lending and borrowing. 

https://cointelegraph.com/news/defi-lending-protocol-nexo-allocates-12m-incentives

Robinhood Q1 crypto trading surges 224% — SEC action ‘disappointing’

Robinhood’s crypto services contributed to nearly 40% of the firm’s transaction-based revenue and helped the firm produce a net profit for the second straight quarter.

Robinhood’s crypto-related services contributed to nearly 40% of its transaction-based revenue of $329 million, helping the firm record its second straight profitable quarter with a net income of $157 million.

But the strong quarter earnings results come in light of a Wells notice handed to the firm by the United States securities regulator last week, which targets Robinhood’s crypto listings and custodian operations.

...the firm has adopted a conservative approach toward its coin listings and services and holds its crypto business to the same legal and compliance standards as its brokerage business.

Aside from the dilemma, Robinhood’s first quarter performance surpassed industry expectations, with its reported revenue of $618 million beating a $534.5 million estimate by investment research firm Zacks by 15.6%.

Robinhood shares rallied as high as 7.3% to $19.15 in after-hours trading but has since cooled off to $18.55, according to Google Finance.

Robinhood’s share price is now up 44.3% year-to-date.

Robinhood reported custodying $26.2 billion worth of crypto for users, marking a 78% rise from last quarter.

https://cointelegraph.com/news/robinhoods-first-quarter-crypto-trading-surges-but-secs-action-disappointing

FCA crypto regulators will take the best from TradFi and DeFi, says exec

When it comes to regulating cryptocurrencies like Bitcoin (BTC), financial authorities in the United Kingdom aim to take the best of traditional finance (TradFi) and decentralized finance (DeFi), according to an executive at the Financial Conduct Authority (FCA).

According to *FCA director of payments and digital assets Matthew Long*, the right way to regulate the industry is to combine different approaches and see which one works best.

...*the FCA is exploring opportunities to keep good actors in the crypto industry while making it “cleaner, safer and better.”*

In August 2023, the FCA reported that the authority had approved the registrations of 38 crypto firms since 2020, out of a total of 300 applications.

https://cointelegraph.com/news/fca-crypto-regulators-tradfi-defi

Malaysian Companies on Nasdaq

Nasdaq rolls out welcome mat for Malaysian companies 

(31-10- 2022 07:40 AM)

The US market is the largest, most liquid, the deepest capital market in the world with the largest set of investors, especially for companies in emerging technology, new technologies, fintech, and healthcare.

"We need that volatility to come down and the markets to be more receptive. Then we need some good IPO to happen, to not only price but to also trade well, to give confidence to other companies to come to the market."

The first company from Malaysia to list on Nasdaq is Starbox Group Holdings Ltd. Starbox builds cash rebates, digital advertising, and payment solutions. 

Malaysian companies that have indicated interest to list on Nasdaq include Carsome, Capital A Bhd, ARB IoT Group Ltd, Evoair Holdings, Graphjet Technology Sdn Bhd and Agape.

https://thesun.my/home_news/nasdaq-rolls-out-welcome-mat-for-malaysian-companies-NE10058371

Reference List: Malaysian companies on Nasdaq

1️⃣ VCI Global Ltd (Nasdaq:VCIG)

https://www.google.com/finance/quote/VCIG:NASDAQ

https://www.nasdaq.com/market-activity/ipos/financial-filings?dealId=1222193-104676

https://v-capital.co/

2️⃣ Starbox Group Holdings Ltd (Nasdaq:STBX)

https://www.google.com/finance/quote/STBX:NASDAQ

https://www.nasdaq.com/market-activity/stocks/stbx/financials

https://www.starboxholdings.com/

3️⃣ Bukit Jalil Global Acquisition 1 Ltd. Unit (Nasdaq:BUJAU) - SPAC

https://www.google.com/finance/quote/BUJAU:NASDAQ

https://www.nasdaq.com/market-activity/stocks/bujau

Nasdaq-listed Malaysian SPAC seeks M&As in US, Asia

https://www.nst.com.my/business/2023/07/931903/nasdaq-listed-malaysian-spac-seeks-mas-us-asia

4️⃣ AGAPE ATP Corporation (Nasdaq:ATPC)

https://www.google.com/finance/quote/ATPC:NASDAQ

https://www.nasdaq.com/market-activity/stocks/atpc

https://www.agapeatpgroup.com/

5️⃣ Graphjet Technology Class A Ordinary Shares (Nasdaq:GTI)

https://www.google.com/finance/quote/GTI:NASDAQ

https://www.nasdaq.com/market-activity/stocks/gti

https://www.graphjettech.com/

6️⃣ Technology & Telecommunication Aqstn Crp (Nasdaq:TETE)

https://www.google.com/finance/quote/TETE:NASDAQ

https://www.nasdaq.com/market-activity/stocks/tete

https://www.tete-acquisition.com/

7️⃣ Integrated Media Technology Ltd (Nasdaq:IMTE)

https://www.google.com/finance/quote/IMTE:NASDAQ

https://www.nasdaq.com/market-activity/stocks/imte

https://investor.imtechltd.com/ (connection is not private)

8️⃣ Greenpro Capital Corp (Nasdaq:GRNQ)

https://www.google.com/finance/quote/GRNQ:NASDAQ

https://www.nasdaq.com/market-activity/stocks/grnq

https://greenprocapital.com/

Malaysia ADRs

Stay on top of the latest data on Malaysia ADRs, including the ticker symbol, current price, daily high and low, and %change for each American Depositary Receipt.

https://www.investing.com/equities/malaysia-adrs

Tokenization, Hong Kong

 HKMA officially announced on May 7 that it will form a special community comprising industry representatives and regulators to develop tokenization standards.

Called “Project Ensemble Architecture Community,” the community aims to supervise and support the development of tokenization projects in Hong Kong.

The initiative is also designed to promote and support interoperability among wholesale central bank digital currencies (wCBDC) — a type of digital money used among banks and financial institutions.

According to the announcement, the community will initially focus on establishing a mechanism to support seamless interbank settlement of tokenized deposits through wCBDC for tokenized asset transactions.

------------------

Tokenization is the process of issuing a digital representation of real-world things such as fiat currencies, equity, commodities, real estate and others. 

Blockchain-based real-world tokenization (RWA) has emerged as one of the key trends in 2024 as investors look for new ways to diversify their portfolios.

According to some forecasts, RWA tokenization could potentially revolutionize multiple industries and grow into a $16 trillion market by 2030.

https://cointelegraph.com/news/hkma-project-ensemble-asset-tokenization

Revolut X Crypto Trading Platform

Fintech company and global neobank Revolut has made a big move into the cryptocurrency sphere by quietly introducing a specialized crypto trading platform for retail customers in the United Kingdom.

Revolut unveiled Revolut X on May 7, targeting a specific set of customers. The platform is designed to rival major cryptocurrency exchanges by offering easy access for users and charging minimal fees.

The platform features easy “on-ramping” and “off-ramping,” allowing users to seamlessly convert fiat currencies like the British pound to crypto and vice versa. 

Notably, Revolut X offers fixed fees of 0% for makers and 0.09% for takers regardless of trading volume, potentially undercutting competitors.

Initially, the platform will offer trading for over 100 cryptocurrencies, including popular choices like Bitcoin (BTC), Ether (ETH) and XRP (XRP).

... customers' digital assets are held 1:1 and never lent out.

"The majority of these funds are also held in cold storage. Rigorous custodian due-diligence and constant risk monitoring mean that we can offer a market leading solution to our customers."

... any U.K. users with a retail account will have access to Revolut X desktop with their existing credentials, and they can trade directly between the platform and their Revolut accounts without additional fees or limitations.

Revolut — which started in the U.K. offering money transfers in 2015 — has grown to become one of the country’s largest fintech companies, with over 40 million users worldwide.

... Financial Conduct Authority (FCA). The FCA’s rules, which aim to increase transparency and protect investors...

... in August 2023, the company suspended its crypto-related services in the U.S., though it only affected around 1% of its user base _(and that is still 4 million in count!).

...a “compliance first” approach and strives to comply with the legal and regulatory requirements in all jurisdictions where it offers services.

... to ensure consumer protection and a level playing field...

The launch of Revolut X signifies a renewed focus on crypto for Revolut. 

It follows the March 2024 introduction of Revolut Ramp, a service that allows users to purchase crypto directly within their Web3 wallets through a partnership with Consensys, the developer of MetaMask.

https://cointelegraph.com/news/revolut-revolut-x-crypto-trading-platform-uk

NeoBank References

• fintech_devcon 2021: How neobanks make money with Saira Rahman
• Can We Trust Revolut? Neobanks explained
• Reasons why your startup should bank with Revolut Business
• NeoBank | The Future of Banking - Fortunesoft Video
• The Rise of Digital Challenger Banks

fintech_devcon 2021: How neobanks make money with Saira Rahman

This is good.

1. Interchange - rectified and proof that our initial positioning is spot on.

2. We need such a spokesperson like Saira Rahman for branding and awareness purposes. 

3. Focus on efficient.

4. A lot of liquidity requirements when growing deposit rapidly.

5. Regulatory capital - Put up a bunch of cash as proof to support their customer.

- Need to anticipate the pace of which the NeoBank is going to grow.

6. Try to target different niches and specialized in certain product. Target and acquire.

7. Balance sheet hedging

NMD - Non-Maturing Deposit = Largest liability

vs

Duration on Loan (extremely high yield for shorter period time possible)

Can We Trust Revolut? Neobanks explained

Good reference and 学习对象：

Investment in 3 clicks

Compliance, Anti-fraud

All key Revolut achievements KPIs as at 2021

Positioning:

Revolut - The Bank for Travelers.

- To reach as many global users as possible.

Reasons why your startup should bank with Revolut Business

1. Cash buffer

2. Super easy to open account

3. Multi-currency with real-time exchange rate

4. Multiple businesses on a Revolut business account

5. (Seamless) Integration with cloud accounting software (eg Xero)

6. Virtual Debit Card in 10 seconds

7. Keep it simple, keep it easy. 

8. Partner with Revolut - refer a business link

NeoBank | The Future of Banking - Fortunesoft Video

Neobank - digital only financial services

mobile-first financial solutions

tech-savvy and underbanked population

98 million users by 2024

- innovative banking and financial services
- attractive fees
- savings and expenses monitoring
- hassle-free account creation
- personalization

extending measures to financial inclusion

sustainable and lucrative business model in the fintech industry

emerging financial tool that has an exponential demand for world-wide adoption to provide niche solutions and detangle challenges of traditional banking.

The Rise of Digital Challenger Banks

1. Divestment from larger group (eg TSB from Llyods)
2. Wind down of a failed bank (Virgin Money from Northern Rock)
3. New entrants to the market 

Must get license from FCA Financial Conduct Authority

Protected by FSCS Financial Services Compensation Scheme?

Crypto Self-Custody and Identities

• How to store crypto assets in a self-custodial wallet
• How do crypto whales protect their identities?

How to store crypto assets in a self-custodial wallet

Key steps to getting started and setting up Trust Wallet

https://cointelegraph.com/news/how-to-store-crypto-assets-in-a-self-custodial-wallet

How do crypto whales protect their identities?

1. Origin of crypto whales

2. Tools for tracking crypto whale activity

3. Privacy measures used by crypto whales to protect their identities

4. Anonymity vs. compliance: The regulatory conundrum for crypto whales

https://cointelegraph.com/explained/how-do-crypto-whales-protect-their-identities

How do crypto whales protect their identities?

Tokenization of real-world assets is a rapidly emerging product category

• Generation Z and millennials choose crypto over stocks — Report, April 12, 2024
• El Salvador’s newest Hilton hotel to tap into tokenized debt on Bitcoin, April 12, 2024
• Circle enables USDC transfers for BlackRock’s first tokenized fund, April 11, 2024

El Salvador’s newest Hilton hotel to tap into tokenized debt on Bitcoin

1️⃣ A first for El Salvador, a first for Bitfinex Securities, the start of a huge new industry in real world asset tokenisation.

2️⃣ a new era of capital markets on Bitcoin, which will offer the local population a new way to access financial markets.

3️⃣ a testament to the transformative power of Bitcoin-based capital markets

----------------

Investors will soon be able to own a slice of a new 4,500-square-foot Hampton by Hilton hotel in El Salvador by buying tokenized shares issued on the Bitcoin layer 2 Liquid Network.

The country’s first-ever tokenized asset raise will be facilitated by Bitfinex Securities, the first licensed and registered digital asset provider in El Salvador, while the debt issued from Inversiones Laguardia S.A. de C.V.

The hotel will be constructed at El Salvador’s international airport, with Inversiones Laguardia looking to raise $6.25 million from crowdfunders in exchange for a 10% coupon over a five-year term.

“For the first time, investors who do not usually have the opportunity to invest in such assets have the opportunity to do so, while issuers in markets which have less access to capital, are able to tap into a new asset class to raise finance.”

Investors will need to make a minimum $1,000 investment to purchase the token under the ticker HILSV on the Liquid Network. Liquid was built by Blockstream in 2018, a Bitcoin-focused infrastructure firm led by long-time cypherpunk Adam Back.

El Salvador, widely known for its Bitcoin investment and adoption strategy, decided to expand into the real-world asset tokenization space in April 2023 when it granted Bitfinex a digital asset service provider license.

Bitfinex’s expansion marks a new era of capital markets on Bitcoin in El Salvador, which will offer the local population a new way to access financial markets.

“This capital raise not only marks our first venture in El Salvador but also stands as a testament to the transformative power of Bitcoin-based capital markets,”

https://cointelegraph.com/news/el-salvador-new-hilton-hotel-tap-into-tokenized-debt-bitcoin

Generation Z and millennials choose crypto over stocks — Report

... a shift in financial assets and investment strategies from those preferred by older generations. 

All these surveys paint a picture of how younger generations are diversifying their investment portfolios beyond real estate and traditional stocks, leaning heavily into the realm of cryptocurrencies.

https://cointelegraph.com/news/generation-z-and-millennials-choose-crypto-over-stocks-report

Circle enables USDC transfers for BlackRock’s first tokenized fund

Launched by BlackRock in March 2024, BUIDL is a tokenized fund that operates on the Ethereum blockchain to offer U.S. dollar yields through tokenization.

BUIDL allows investors to purchase tokens representing shares in the fund, which invests in assets like U.S. Treasury bills. The fund is referred to as the “digital liquidity fund” because it is digitized in the form of tokens on the Ethereum blockchain and operates as an ERC-20 token called BUIDL.

The new investment tool is the first tokenized fund introduced by BlackRock, which is also the operator of the fastest-growing spot Bitcoin (BTC) exchange-traded fund (ETF) in the United States.

... tokenization of real-world assets is a rapidly emerging product category.

BlackRock is one of the biggest players in the cryptocurrency industry, operating the iShares Bitcoin Trust (IBIT) spot Bitcoin ETF, which holds 266,580 BTC, worth $18.5 billion as of April 10. 

In 2022, Circle started investing in the Circle Reserve Fund to manage a portion of the USDC reserves in cooperation with BlackRock. The firm expected its composition to continue to be around 20% cash and 80% short duration U.S. Treasuries.

The Circle Reserve Fund is a registered Rule 2a-7 government money market fund managed by BlackRock Advisors, and its portfolio consists of cash and short-dated U.S. Treasuries.

https://cointelegraph.com/news/circle-blackrock-transfers-usdc-buidl

Dollar Cost Averaging (DCA)

 #NFA #DYOR

Dollar-Cost Averaging (DCA) involves regularly purchasing a fixed dollar amount of an asset over time. 

The strategy aims to reduce volatility by spreading out buy orders. 

This approach allows for some purchases at lower prices and others at higher prices, making it attractive for assets with notable volatility, such as Bitcoin (BTC).

It's important to note that Bitcoin's volatility has been significantly higher compared to traditional assets. 

While DCA can be effective, it relies heavily on the investor's conviction in the chosen asset.

Dollar-cost averaging might be well-suited for new investors seeking to diversify their portfolios and navigate the often volatile landscape of crypto. 

This strategy helps mitigate the impact of short-term price fluctuations and volatility, allowing investors to benefit from the long-term growth potential of the asset. 

Dollar-cost averaging is a stress-free way to accumulate a position reflecting a range of short-term market conditions, including cheap and expensive, and avoiding too much risk concentration at a single moment in time.

Instead of attempting to time the market and make large lump-sum investments, which can be daunting and risky, DCA allows investors to steadily build their positions over time.

The optimal BTC investing strategy depends mainly on the risk tolerance of the investor, yet DCA might be a good way to accumulate BTC during the next bull market.

DCA into Bitcoin produces outsized returns

Investing $50 weekly, or $200 a month, in Bitcoin from July 2019 would yield substantial returns, reaching 345.9% by January 2024. Despite an initial investment totaling just over $13,000, the total value would soar to $58,193.

In contrast, investing in gold during the same period would result in a modest return of 24.9%, while the Dow Jones Industrial Average (DJI) generated less than 1% more than the most precious metal in the world.

https://cointelegraph.com/news/this-simple-bitcoin-investment-strategy-prevents-crypto-traders-from-being-liquidated

BTC Supply Shock

• New Bitcoin ETFs now hold 500,000 BTC, while GBTC outflows slow, Mar 30, 2024
• Bitcoin to attract $1T from institutions amid ‘raging bull market’ — Bitwise exec, Mar 30, 2024
• Bitcoin exchanges’ BTC balances have dropped almost $10B in 2024, Mar 30, 2024

Bitcoin exchanges’ BTC balances have dropped almost $10B in 2024

Bitcoin exchange withdrawal trends are clear as “pent up institutional demand” from the spot ETFs combines with the upcoming halving to squeeze the available BTC supply.

Data from on-chain analytics firm Glassnode shows that since Jan. 11, exchanges are down over 136,000 BTC.

As of March 28, the exchange info tracked by Glassnode held a combined 2,320,458 BTC — the lowest balance since April 2018.

The trend shows no sign of slowing. Glassnode shows that on March 27 alone, withdrawals totaled more than 22,000 BTC ($1.54 billion) — the third-largest daily tally of 2024.

ETF buying alone already represents a much larger buying force than the “new” BTC unlocked each day by miners.

After the upcoming block subsidy halving event in mid-April, that ratio will increase even more as the BTC supply expands by just 3.125 BTC per newly mined block.

"For the first time, Bitcoin will become harder than gold, with half its supply growth rate. Pent up institutional demand via the ETFs, a programmatic supply squeeze from the Halving and Bitcoin taking the title as the world's hardest asset. There's a lot to look forward to in April."

https://cointelegraph.com/news/bitcoin-exchanges-btc-balances-dropped-10b-2024

Bitcoin to attract $1T from institutions amid ‘raging bull market’ — Bitwise exec

“keep calm and take the long view.” ~ Bitwise’s Matthew Hougan

... the $12 billion flowing into ETFs since their launch is exciting and is “the most successful ETF launch of all time.” 

... once global wealth managers begin to allocate 1% of their portfolio into Bitcoin, this would mean $1 trillion in inflows into the space.

“*A 1% allocation across the board would mean ~$1 trillion of inflows into the space. Against this, $12 billion is barely a down payment*,” he added.

https://cointelegraph.com/news/bitcoin-1-trillion-bull-market-bitwise-chief

New Bitcoin ETFs now hold 500,000 BTC, while GBTC outflows slow

Nine of the 10 new spot Bitcoin (BTC) exchange-traded funds (ETFs) have accumulated over 500,000 BTC since launching in January, with their holdings now accounting for 2.54% of the current circulating supply.

This brings the amount of BTC held by the nine ETFs to a current worth of $35 billion over just 54 trading days.

In total, all United States spot Bitcoin funds, including Grayscale, hold 835,000 BTC, which is almost 4% of the entire supply.

https://cointelegraph.com/news/new-bitcoin-etfs-hold-500000-btc-gbtc-outflows-slow

Bullish Bitcoin

• BlackRock CEO ’very bullish’ on Bitcoin as its ETF crosses $17B, MAR 28, 2024
• Not just the halving: Why analysts are bullish on Bitcoin in 2024, MAR 28, 2024
• Bitcoin currently in ‘middle of the bull run’ — Grayscale report, MAR 28, 2024
• Bitcoin price reclaims $70K as Coinbase BTC supply hits 9-year low, MAR 25, 2024

BlackRock CEO ’very bullish’ on Bitcoin as its ETF crosses $17B

“IBIT is the fastest growing ETF in the history of ETFs. Nothing has gained assets as fast as IBIT in the history of ETFs,” ~ Larry Fink (https://www.foxbusiness.com/video/6349827399112)

IBIT has a strong start to trading, tallying $13.5 billion in flows in the first 11 weeks, with an $849 million daily high on March 12. 

IBIT averages a little over $260 million in inflows per trading day.

“We’re creating now a market that has more liquidity, more transparency and I'm pleasantly surprised. I would never have predicted it before we filed it that we were going to see this type of retail demand,”

“I’m very bullish on the long-term viability of Bitcoin,” the BlackRock CEO added.

IBIT currently holds $17.1 billion in Bitcoin, and took only two months to reach the $10 billion mark — a milestone that took the first gold ETF two years to reach.

https://cointelegraph.com/news/blackrock-bitcoin-etf-fastest-growing-etf-larry-fink

Not just the halving: Why analysts are bullish on Bitcoin in 2024

Next month, the Bitcoin halving will reduce daily BTC production by about 450 BTC from the current average daily amount of 900 BTC.

...the amount of supply cut pales compared to daily fiat flows in and out of crypto exchanges and Bitcoin exchange-traded funds (ETFs).

...overall demand for Bitcoin is a “bigger factor than tightening supply.”

“I am bullish for the next two years due to a combination of the halving, expectations for improved global liquidity, and the fact that so many coins have rotated to strong hands in the bear market, and so a relatively minor increase in demand can move the price quite a bit.” ~ investment researcher Lyn Alden

"...every attempt to push down prices has been met with relentless buying," ~ 10x Research CEO and head analyst Markus Thielen

...each time Bitcoin made new price breakouts in February 2013, February 2017, and November 2020, the price could grow s much as 189% after 180 days. Eventually, Bitcoin would top after nine to 11 months following the breakouts historically...

The current Bitcoin rally is the first time Bitcoin has posted a parabolic rise and hit a new all-time high before the block reward halving, eToro crypto analyst Simon Peters emphasized.

...the ongoing cycle is going to be “more institutional,” 

"...it’s important to note that whilst the ETFs have been a major contributor to the rally so far, they are not the only participants in the space. Other entities such as MicroStrategy and Bitcoin whales continue to accumulate too.”

Bitcoin Halving

Programmed to occur once per 210,000 blocks or roughly every four years, Bitcoin halvings are designed to maintain Bitcoin’s deficit and counteract inflation.

Since its launch in 2009, Bitcoin has come through three halving events in 2012, 2016 and 2020, cutting its miner incentive from the initial 50 BTC to the current 6.5 BTC. 

The soon-to-come Bitcoin halving in 2024 will further decrease the mining reward from 6.5 BTC to 3.125 BTC.

https://cointelegraph.com/news/bitcoin-halving-analysts-bullish-btc-price-2024

Bitcoin currently in ‘middle of the bull run’ — Grayscale report

spot Bitcoin ETF inflows, positive stablecoin inflows and decreasing BTC balance on exchanges.

In addition to an increase in intent to buy, evidenced by increased stablecoin supply, a lack of intent to sell supported by decreasing supply on exchanges is also an important factor backing Bitcoin’s rally.

Bull markets are particularly driven by euphoria, fear of missing out (FOMO) and speculative trading from retail investors. One of the ways to determine this is by analyzing retail market sentiment.

https://cointelegraph.com/news/bitcoin-currently-in-middle-of-the-bull-run-grayscale-report

Bitcoin price reclaims $70K as Coinbase BTC supply hits 9-year low

On the supply side, Bitcoin reserves on Coinbase reached a nine-year low of 344,856 BTC on March 18, showing that investors have resumed accumulating BTC off exchanges.

The last time BTC reserves on Coinbase were at similar lows was in 2015

The total Bitcoin balance in accumulation addresses has also rebounded to over 3.2 million BTC, nearing a record high, according to Glassnode’s chart.

In this case, accumulation addresses are those with over 10 BTC and no outgoing transactions or ties to centralized exchanges and mining firms.

Further showcasing the growing accumulation pattern, Bitcoin inflows to accumulation addresses hit a new all-time high of 25,300 BTC on March 22.

This suggests that big investors are likely betting on more upside after the recent 15%–20% drawdown from the all-time high of around $74,000.

In total, Bitcoin reserves on all exchanges hit a three-year low of 1.92 million BTC on March 25.

https://cointelegraph.com/news/btc-accumulation-restarted-coinbase-btc-supply-9-year-low

Anything That Can Be Tokenize Will Be Tokenized

• Over $1B in US Treasurys have now been tokenized on-chain，MAR 28, 2024
• BlackRock begins asset tokenization with launch of digital liquidity fund，MAR 19, 2024
• Sygnum bank to tokenize $50M of Matter Labs’ reserves for transparency，MAR 19, 2024

BlackRock begins asset tokenization with launch of digital liquidity fund

... “the next step forward” toward a single ledger, instantaneous settlement and ending illicit activities ...

BlackRock, the world’s largest asset manager, has filed a United States Securities and Exchange Commission Form D for the BlackRock USD Institutional Digital Liquidity Fund. 

This marks the launch of BlackRock’s first tokenized asset fund.

According to the filing, BlackRock created the fund in 2023 but has yet to launch it. 

Form D is used to obtain various exemptions. 

BlackRock indicated that it is seeking an exemption under the Investment Company Act Section 3(c), which exempts it from certain SEC regulations. 

The fund was created under the jurisdiction of the British Virgin Islands.

The fund will have a $100,000 minimum investment and be offered by Securitize, a U.S. digital assets securities firm, which will also conduct the sale of the tokens. 

The form shows $525,000 in sales commissions and indicates the size of the fund as “indefinite.” 

The form was signed on March 14.

The fund will be tokenized on the Ethereum blockchain with an ERC-20 token called BUIDL, which currently has one holder and a $0 on-chain market capitalization, according to Etherscan. 

That website also indicated that the fund received a transfer of $100 million on March 4.

“We believe the next step going forward will be the tokenization of financial assets, and that means every stock, every bond […] will be on one general ledger. Every investor, you and I, will have our own number, our own identification. We could rid ourselves of all issues around illicit activities about bonds and stocks and digital by having a tokenization. ” ~ BlackRock CEO, Larry Fink

About Securitize

Securitize is registered as a stock transfer agent and alternative trading system with the SEC. 

It has tokenized assets for asset manager KKR and Spanish real estate investment trust Mancipi, as well as formed a partnership with SBI Digital Markets in Singapore and bought cryptocurrency fund manager Onramp Invest, which had over $40 billion in assets under management.

https://cointelegraph.com/news/blackrock-begins-asset-tokenization-launch-digital-liquidity-fund

Sygnum bank to tokenize $50M of Matter Labs’ reserves for transparency

Swiss-based global digital asset banking group Sygnum will invest $50 million in the Fidelity Institutional Liquidity Fund on behalf of its client Matter Labs. 

Those funds will be tokenized as the first step in Matter Labs’ long-term strategy to move all of its treasury reserves on-chain with institutional custodians.

The funds will be tokenized onto the Ethereum-based zkSync layer-2 blockchain, which Matter Labs curates. 

The tokenized funds will represent part of Matter Labs’ holdings in the Fidelity Institutional Liquidity Fund, an open-ended $6.3-billion umbrella for money-market funds that is domiciled in Ireland.

The funds are intended to provide transparency for Matter Labs’ proof of reserves.

"Moving USD 50m of our treasury reserves onto the zkSync blockchain showcases its institutional-grade security as well as our commitment to transparency.” ~ Matter Labs senior vice president of business and operations Marco Cora 

This is the first time Sygnum has tokenized traditional securities.

The zkSync blockchain was founded in 2018 to provide scalability to Ethereum DApps. Its public mainnet was launched in April 2023 after receiving $200 million in Series C funding in November 2022. It reached a high of $870 million in total value locked (TVL) on March 10 and had $715 million TVL on March 19, according to L2BEAT.

Sygnum claimed to be the first bank to tokenize its own assets in 2020. It began offering its clients access to cryptocurrency staking the same year, beginning with Internet Computer and Tezos, adding Ether the following year and Cardano in 2022.

The Sygnum Singapore subsidiary of the bank received a Major Payment Institution license in October 2023, allowing it to offer crypto brokerage services to accredited investors and institutions. Sygnum does not accept United States clients.

https://cointelegraph.com/news/sygnum-bank-tokenize-50-m-matter-labs-reserves-transparency

Over $1B in US Treasurys have now been tokenized on-chain

More than $1 billion worth of United States Treasurys now exist across Ethereum, Polygon, Solana, and other blockchains, helped in part by the recent launch of the BlackRock USD Institutional Digital Liquidity Fund.

BlackRock’s product, tickered “BUIDL,” was launched on Ethereum on March 20 and now boasts a market cap of $244.8 million. 

According to Etherscan, four transactions to the fund totaling $95 million over the week added a boost to the fund, making it the second largest tokenized government securities fund. 

BUIDL now only trails Franklin Templeton’s 11-month-old Franklin OnChain U.S. Government Money Fund (FOBXX), which has $360.2 million in U.S. Treasurys

The dashboard shows that $1.08 billion in U.S. Treasurys have now been tokenized across 17 products.

The most recent $79.3 million deposit to BlackRock’s fund was made by real-world asset tokenization firm Ondo Finance, which will allow instant settlements for its own U.S. Treasury-backed token, OUSG. The firm made a total of $95 million in deposits across four transactions, according to Etherscan.

BUIDL’s price is pegged 1:1 with the United States dollar and pays daily accrued dividends directly to investors each month. 

It was launched on Ethereum via the Securitize protocol.

BlackRock CEO Larry Fink recently voiced that capital markets could be made more efficient by blockchain tokenization, which Boston Consulting Group estimates will become a *$16 trillion market by 2030*.

Ethereum also accounts for $700 million of all real-world assets (RWA) tokenized on-chain.

WisdomTree another large asset management firm tokenizing RWAs, while *Ondo Finance, Backed Finance, Matrixdock, Maple Finance and Swarm are among the blockchain-native firms operating in the space*.

https://cointelegraph.com/news/us-treasurys-tokenized-on-chain-hit-1-billion

Long Term Value Investing & DCA

Volatility is good for traders.

Long term value investors keep calm.

 

1 Day

1 Week

1 Month

6 Months

1 Year

All Time

In A View

Bitcoin is up 1,800% 4 years after the 2020 COVID-19 BTC price crash

From bottom buys to stimulus checks, Bitcoin has richly rewarded those who used the events during the COVID-19 pandemic to increase BTC exposure.

Bitcoin (BTC) is up nearly 2,000% versus its COVID-19 lows on the fourth anniversary of its crash to $3,600.

On March 12, 2018, BTC price action began a plunge to levels never seen again as risk assets dived worldwide.

Beginning March 12 at $7,960, BTC/USD finished at $4,830, going on to bottom at $3,860 the following day.

Its comeback was arguably just as impressive — just one-and-a-half months later, $10,000 had reappeared.

“Everyone who bought the dip is up 1,700% since,” 

Those who decided to go all in on that day are not the only COVID-19 success stories when it comes to diversifying into BTC.

United States citizens who used their first stimulus check, worth $1,200 and delivered in April 2020, to buy Bitcoin are now sitting on $12,930, per data from monitoring resource BitcoinStimulus.

A 100% stimulus deployment, originally worth $3,200, is now worth 400% more.

Bitcoin began “paradigm shift” in March 2020

“That day, the paradigm shift from tech stock to freedom money began in earnest.”

https://cointelegraph.com/news/bitcoin-up-1-800-after-2020-covid-19-btc-price-crash

Bitcoin's Rally Q1 2024

• Bitcoin’s ‘up only’ rally creating around 1.5K crypto millionaires daily — Data
• Top Bitcoin traders enter leveraged longs near all-time high — $80,000 ahead?
• Will the Bitcoin halving bring more institutional investors into crypto?
• Bitcoin price nails new $73.6K all-time high as ETFs eat away at supply
• Is Bitcoin due for a correction with 5 weeks till the halving?

Bitcoin’s ‘up only’ rally creating around 1.5K crypto millionaires daily — Data

STOP selling your Bitcoin to the ETFs!

... the daily inflows into spot Bitcoin ETFs hit a record $1 billion of net inflows on March 12

BTC’s latest rally, backed by U.S. spot Bitcoin ETFs, is creating about 1,500 millionaire wallets on a daily basis. 

This highlights the growing wealth accumulation in the cryptocurrency sector.

However, this is a significantly lower number than those created during the 2021 bull run, when “more than four thousand wallets were reaching the million-dollar mark daily, and more than two thousand wallets were reaching $10M.

This time around, whales could be taking a more cautious approach, waiting to see if the gains have legs before investing.

 ... steady growth in the overall number of Bitcoin addresses holding significant wealth, underscoring increasing adoption and acceptance of Bitcoin as a store of value and investment asset.

BTC Price Targets

According to Standard Chartered, BTC price might surpass $100,000 by the end of 2024.

Hedge fund SkyBridge predicts a price of $170,000 by April 2025.

Fundstrat projects BTC to range between $116,000 and $137,000 by the end of the year. 

Investment management firm VanEck maintains its medium-term target at $350,000.

Independent analyst Ted Talks Macro noted that funds were flowing into the Bitcoin market “like never before,” saying that the pioneer cryptocurrency was on its way to $100,000.

---------------------------------------

Fund inflows like we have never seen before.

It makes 2020 look small... price will continue to catch up over the coming months.

The steady grind to 100k is underway #BTC 

Historically, when these flows peak, theres 2-3 months to GTFO of the market.

---------------------------------------

* GTFO - Get The Fuck Out

https://cointelegraph.com/news/bitcoin-up-only-rally-creating-around-1500-crypto-millionaires-daily-data

Fund inflows like we have never seen before.

It makes 2020 look small... price will continue to catch up over the coming months.

The steady grind to 100k is underway #BTC

Historically, when these flows peak, theres 2-3 months to GTFO of the market. pic.twitter.com/I3a6binvEH

— ted (@tedtalksmacro) March 13, 2024

Top Bitcoin traders enter leveraged longs near all-time high — $80,000 ahead?

Bitcoin hit an all-time high of $73,650 on March 13, marking a 44% gain in 16 days.

The surge reflects the increasing demand for spot Bitcoin exchange-traded funds (ETFs) listed in the United States, which saw a record $1 billion in net inflows on March 12. 

... whether Bitcoin’s current bull run has the potential to surpass $80,000 hinges on the adoption of spot ETF instruments as a “store of value” and a potential shift in Bitcoin’s risk assessment. 

Before 2024, Bitcoin was not easily accessible to the majority of mutual funds and wealth managers. Additionally, regulatory uncertainty and its classification as a commodity were major concerns, but this changed after the approval of the U.S. spot Bitcoin ETF on Jan. 11.

While there's no guarantee Bitcoin will surpass $80,000 in the near term, BTC derivatives metrics indicate confidence, as traders are pricing similar risks for unexpected upward and downward moves.

https://cointelegraph.com/news/bitcoin-top-traders-enter-leverage-longs-near-all-time-high-80k-ahead

Will the Bitcoin halving bring more institutional investors into crypto?

“Institutions are still learning about this asset class, but understanding the monetary policy of Bitcoin will only drive more interest,” Dante Cook, Swan Bitcoin’s head of business.

The halving is an important demonstration that “Bitcoin security can continue despite a lower ‘security budget,’” Ethan Vera, chief operating officer at Luxor Technology Corporation

Investors have clearly embraced the spot market Bitcoin ETFs — as seen by the net inflows — and further regulatory clarity will help to drive industry adoption and investor base

A continued road to adoption

“What is different today from historical halvings are the ETFs, which have dramatically changed the Bitcoin ecosystem,” Clark Swanson, entrepreneur and former CEO of Bitcoin mining firm Blockcap

MicroStrategy recently rebranded itself as a Bitcoin development company, while the new ETFs “are capital-inefficient in the sense that the BTC just sits there. 

Investors may prefer Michael Saylor’s more active management strategy versus the ETFs.

Many miners see the writing on the wall — lower and lower block rewards — and are looking more at supplemental revenue opportunities. 

“Transaction fees on the Bitcoin network are crucial for miners long term,” said Vera, “and we are seeing many start investing time and capital into developing the ecosystem of applications being built on Bitcoin.”

“It is the finite supply and the halving of Bitcoin, which are characteristics that help make Bitcoin the hardest money ever created.” ~ Clark Swanson

https://cointelegraph.com/news/bitcoin-halving-institutional-investors-crypto-adoption

 

Bitcoin price nails new $73.6K all-time high as ETFs eat away at supply

The steady grind to 100k is underway.

The ETFs themselves fetched a record $1 billion of net inflows on March 12, final data confirms, with BlackRock’s product, the iShares Bitcoin Trust, enjoying the lion’s share.

“A record 14,706 BTC inflow on 12 March 2024,”

That amount alone represents a considerable portion of the newly-mined supply in 2024, totaling approximately 65,500 BTC.

The two largest ETFs from BlackRock and Fidelity Investments held in excess of 330,000 BTC as of March 13 — five times what miners added.

https://cointelegraph.com/news/bitcoin-price-new-73-6-k-all-time-high-etfs-eat

Is Bitcoin due for a correction with 5 weeks till the halving?

“We estimated $10Bn inflows for 2024 and another $60Bn for 2025. In the last 40 trading days since ETF launch on Jan 10, Bitcoin ETF inflows have crossed $9.5Bn already.”

“At this run rate, Bitcoin ETFs would surpass our 2025 inflow estimates within 166 trading days for [the] rest of 2024,”

https://cointelegraph.com/news/bitcoin-price-correction-5-weeks-halving

BTC Supply Shock (ETF & ETN)

• London Stock Exchange to launch crypto ETNs on May 28, MAR 25, 2024
• Bitcoin has 6 months until ETF ‘liquidity crisis’ — New analysis, MAR 12, 2024

Bitcoin has 6 months until ETF ‘liquidity crisis’ — New analysis

Bitcoin ETF - Most Successful ETF Launch in History

Now holding nearly $30 billion, United States-based spot Bitcoin exchange-traded funds (ETFs) have become the most successful ETF launch in history.

“Bears can’t win this game until spot Bitcoin ETF inflow stops.”

ETFs alone put away more than 30,000 BTC last week, and with 3 million BTC in exchange and miner wallets, the odds of a supply-induced price shock become clear.

Limited Sell-side Liquidity and Thin Orderbook

“Last week, spot ETFs saw netflows of +30K BTC. Known entities like exchanges and miners hold around 3M BTC, including 1.5M BTC by US entities.” 

“At this rate, we’ll see a sell-side liquidity crisis within 6 months.”

When the tipping point from ETF demand comes, Ki forecasts the BTC price impact may be beyond market expectations.

“Once a sell-side liquidity crisis happens, its next cyclical top may exceed our expectations due to limited sell-side liquidity and thin orderbook,” 

Accumulation Addresses

an ongoing broad uptrend in BTC held by so-called “accumulation addresses” — wallets with only inbound transactions — with this still needing to double before the “crisis” sets in.

Full article: https://cointelegraph.com/news/bitcoin-6-months-etf-liquidity-crisis-analysis

London Stock Exchange to launch crypto ETNs on May 28

To be approved, crypto ETNs must be 

physically backed, non-leveraged, have a reliable value of the underlying market price, and can only be denominated in Bitcoin or Ether. 

The underlying assets must be held in cold storage by an Anti-Money Laundering licensed custodian in the United Kingdom, European Union or United States.

Issuers can submit up to three different currency lines for the ETNs. 

https://cointelegraph.com/news/london-stock-exchange-launch-crypto-etns-may-28

AI Designer and Bitcoin Bull

 An interesting finding and nice output.

Bitcoin - The Journey (Trillion Dollar Asset Class)

 

Bitcoin's Super Cycle

We "were" There

10

9

8

Bullish - Enter The Dragon

 农历二月二，龙抬头。

• BTC price blasts through $70K — 5 things to know in Bitcoin this week
• Bitcoin Halving: What’s different this time around?
• Bitcoin buying advised as US enters the ‘looting-the-treasury phase’
• Large corporations, major wirehouses gearing up to buy Bitcoin: Bitwise

BTC price blasts through $70K — 5 things to know in Bitcoin this week

potential BTC price volatility catalysts to come.

Bitcoin has hit a new all-time high before its next halving — a unique event in its history.

Bitcoin's most convicted holders are still holding at unrealized profit levels that usually occur well before the cycle peak.

https://cointelegraph.com/news/btc-price-blasts-through-70k-5-things-bitcoin-this-week

Bitcoin Halving: What’s different this time around?

Bitcoin’s supply-demand dynamic will be even more favorable than previous halvings in 2012, 2016 and 2020 — thanks to the recent launch of spot Bitcoin exchange-traded funds (ETFs) in the United States.

This halving event will occur at block 840,000 — expected to take place on April 20 — which will see mining rewards reduced from 6.25 BTC ($418,800) to 3.125 BTC ($209,400).

Spot Bitcoin ETF issuers are taking in 2,450 BTC each day while only 900 BTC are being mined.

“This number will fall to 450 BTC post-halving in late April [where the ETFs will be] sweeping up BTC at a rate five times higher than BTC's post-halving supply growth. This huge imbalance between supply and demand will lead to a continuous, but volatile, upward grind of the BTC price.”

How can this supply-demand imbalance not lead to a massive, continuous bitcoin price increase?

This will multiply Bitcoin’s demand at a time when the halving will reduce Bitcoin’s supply.

Bitcoin’s hashrate is five times higher than it was at the last halving.

“It now requires five times more computing power and associated electricity supply, electrical infrastructure, and mining hardware to attack the network.”

The network was already tremendously secure at the time of the 2020 halving, but now it is basically impenetrable

This geographic decentralization is continuing as miners migrate to Africa and Latin America to take advantage of cheaper electricity prices.

https://cointelegraph.com/news/bitcoin-halving-different-this-time

Bitcoin buying advised as US enters the ‘looting-the-treasury phase’

“We’re in the looting-the-treasury phase of imperial collapse,” ~ entrepreneur and angel investor Balaji Srinivasan, the former Coinbase chief technology officer 

as financial reckoning approaches, the “ravenous state” may consider confiscating private assets.

a handful of examples, such as the seizing of assets from protesting Canadian truckers, freezing Russian assets and the “weaponization of Delaware against Elon [Musk] and New York against [Donald] Trump.”

“Fortunately, we have Bitcoin, which isn’t dependent on the state and can’t easily be seized.”

https://cointelegraph.com/news/bitcoin-buying-advised-us-enters-looting-the-treasury-phase

Large corporations, major wirehouses gearing up to buy Bitcoin: Bitwise

On March 8, BlackRock’s Bitcoin ETF surpassed business intelligence firm MicroStrategy in terms of total Bitcoin held, touting 197,943 BTC on its balance sheet, worth over $13.5 billion at current prices.

Institutions representing “trillions of dollars in assets” are preparing to buy into spot Bitcoin (BTC) exchange-traded funds (ETFs) by the end of June, said crypto-native asset manager Bitwise.

In a March 9 investment memo sent out to investors, Bitwise chief investment officer Matt Hougan said Bitwise was involved in “serious due diligence” discussions with large corporations, major wirehouses and institutional consultants looking to increase their exposure to Bitcoin in the coming months.

“Just as important as who is buying today is who will be buying tomorrow,” ~ Bitwise chief investment officer Matt Hougan

https://cointelegraph.com/news/large-corporations-wirehouses-prepare-bitcoin-etf-bitwise

 

Who’s Buying Bitcoin ETFs (As Far As We Know)

An excerpt from Bitwise CIO @Matt_Hougan's weekly memo to investment professionals.

Bitcoin ETFs have attracted more than $7.5 billion in net new assets since launching in the U.S. on January 11, making many of them among the most… pic.twitter.com/jyIZHUsbn6

— Bitwise (@BitwiseInvest) March 8, 2024

... no major wirehouse — names such as Morgan Stanley, Merryl Lynch or Bank of America — has yet joined the institutional push. 

 https://cointelegraph.com/news/bitcoin-bull-cathie-wood-ark-invest-btc-price-target-1m