A major positive for the crypto market has been the explosion of Decentralized Finance, known as DeFi, which is largely built on top of the Ethereum blockchain. This adds to a growing narrative for ETH as a store of value.
Morgan Stanley becomes the first big U.S. bank to offer access to Bitcoin funds. Given that some part of Morgan Stanley’s $4 trillion in client assets will invest in Bitcoin after this endorsement, the price of BTC is expected to continue rallying.
Tesla announced that they bought $1.5bn in Bitcoin for their treasury reserves, and may start accepting cryptocurrency as a form of payment for their products in the near future. What are the implications of this?
Watch this conversation between Michael Saylor, CEO of MicroStrategy ($MSTR), and Ross Stevens, CEO of Stone Ridge Asset Management (AUM $20bn, including $6bn BTC). Mr. Stevens shares how he has evolved his thinking about money and the Central Banks of the world, to a mantra of “thinking in Bitcoin, not in fiat”.
There is a lot of online chatter about the potentiality of a ‘risk-off’ move coming on the back of "WallStreetBets" (a forum on Reddit) leading a millennial charge through single equity names, creating massive short squeezes. What does this all mean for the cryptocurrency markets?
LLG was asked to present a Zoom lecture to a Palm Beach, Florida Country Club recently. The title of the presentation was, "Bitcoin and the Cryptocurrency Asset Class - A Deep Dive into a Nascent Market." We decided to post David’s closing remarks...
This cryptocurrency sell-off marks the first significant retracement since Thanksgiving's 17% decline. 2021 has seen a relatively straight line move up. After the recent OCC statement allowing banks to clear public blockchain transactions, the move from roughly $27,000 to $42,000 has been more or less without pause.
LLG believes this to be tacit approval for banks to settle transactions on public blockchains. Add to this the fact that the SEC has deemed Bitcoin and Ethereum not to be securities, and this release gives permission to banks to engage with customers in certain cryptocurrencies.
Institutional adoption of Bitcoin has just begun, but the needle has yet to move. The Bitcoin revolution spurred on by the global manipulation of all major markets and the fast and furious debasement of fiat currency is in its second inning...
The price of Bitcoin fell from $19,500 to $16,200 on news that the Trump administration, in a parting gift to the crypto community, is considering regulating exchanges in such a way as to demand private wallet counterparty addresses. We think this is a temporary selloff that will be met with investors "buying the dip."
The word "bubble" has not been associated with Bitcoin in this latest run-up. Bitcoin has progressed in the collective psyche from a misunderstood technological "tulip bulb", to a market-dominant cryptocurrency, and a legitimate, digital-gold type of investment.
We have been talking about Bitcoin as an important asset allocation for the next one to five years, or longer. The current rally is, in our opinion, the start of a move to significantly higher prices...
Nearly 400 million active users now have access to the cryptocurrency asset class through a familiar platform: PayPal. This includes over 26 million merchants who can accept crypto in exchange for their goods and services, providing an answer to the question, "what can you spend cryptocurrency on?"
The Office of the Comptroller of Currency (OCC) has encouraged banks to embrace cryptocurrency. This is bullish for the crypto market, adding to the thesis that Bitcoin (BTC) is here to stay as a new, alternative asset class.
LLG was invited to present about the crypto asset class in a Zoom call with The Harmonie Club of New York. This was the kickoff of our virtual roadshow called, "The Dawn of a New Asset Class", an interactive session with a component of slides and Q&A, including a follow-up deck that we send to audiences.