August 29, 2023

 

At 10:00am ET today, news broke that a federal judge ordered the SEC to reconsider Grayscale's application to convert GBTC into the first spot Bitcoin ETF. This quickly caused the price of BTC to spike higher by nearly 10%. 

July 10, 2023

 

The current phase of this market cycle is coinciding with the potential for the first major Bitcoin ETF. The fundamentals and technicals are both lining up, implying the risk/reward of owning Bitcoin is once again favorable with a 2+ year time horizon.

April 25, 2023

 

Bitcoin has rallied close to 100% off of the November 2022 low, likely confirming the beginning of the next bull market leading up to the April 2024 Bitcoin “halving” — the four-year event when the supply of newly mined Bitcoin is cut in half.

March 15, 2023

 

After the bank bailouts of 2008, many lessons were learned. Some not well enough. This past weekend’s bank bailout was necessary, costly, and not unlike Lehman 2008, largely due to gross mismanagement. The implications for Bitcoin are important.

November 9, 2022

 

This week, FTX, the second-largest cryptocurrency exchange in the world, was exposed as insolvent, having tapped into customer assets to make risky trades...

September 29, 2022

 

After a historic day in the markets caused by the Bank of England conducting QE in the midst of QT, we thought a quick note would be in order, more macro than crypto-focused.

August 11, 2022

 

Crypto is in the throes of a bear market since November 2021. The crypto winter has been well covered, but Bitcoin is up 40% off the lows, ETH more than 100%. A few positive observations...

June 13, 2022

 

This past weekend saw Celsius Network (a crypto lending company and platform where users deposit tokens to earn yield) pause withdrawals, swaps, and transfers between accounts. This caused some market panic...

June 3, 2022

 

The NYDIG team put out a great piece where they pose the question of whether what happened with the collapse of LUNA/UST is crypto's "Lehman moment"...

May 11, 2022

 

Price action in crypto has had a wildly volatile week. Several factors have been at play, most notably the stablecoin Terra UST breaking its peg to the dollar, causing the collapse of LUNA, and weighing on all crypto markets.

May 5, 2022

 

For Bitcoin to be trading in sync with the tech-heavy NASDAQ at volatile moments in time makes intellectual sense, until it doesn’t. Soon enough, it won't, but for now, batten down the hatches as the Fed hikes rates into a weak equity market.

March 29, 2022

 

Pomp wrote a great piece we wanted to share with LLG clients: an analysis of what is driving this latest rally in Bitcoin and what to expect in the coming months.

March 24, 2022

 

Jason wrote a piece titled, "The Importance of Self-Custody", which addresses the need to own your assets in the face of weaponized finance and global sanctions.

February 17, 2022

 

The Pantera Capital team put out a great write-up on the current state of global markets and the impact on crypto. We view this as a must-read. 

January 28, 2022

 

David published part two of his 2020 article about "the Death of Fixed Income and the Rise of Bitcoin", given current Fed policy to fight generationally high inflation and how he expects it to impact cryptocurrencies. 

December 4, 2021

 

LLG provides a quick update given the downside volatility in cryptocurrencies over the past 24 hours. 

November 11, 2021

 

Bitcoin implemented a software upgrade called "Taproot" on November 14th. It's been long in the works and improves Bitcoin’s security, privacy, and throughput. We explain why this is important and what the main takeaways are.

October 18, 2021

 

The first Bitcoin ETF was approved by the SEC and began trading on October 19, 2021. Launched by ProShares, the ETF invests in CME Bitcoin Futures, allowing investors globally to easily invest in the crypto asset class, albeit futures, not spot.

August 11, 2021

 

The Senate voted on an amendment included in the multi-trillion-dollar infrastructure package that defined taxation on the cryptocurrency asset class. In short, The U.S. government has now sanctioned the cryptocurrency asset class as legitimate.

July 22, 2021

 

Elon Musk, Cathie Wood, and Jack Dorsey discussed the state of cryptocurrency markets in a wide-ranging and informative virtual conference. Musk clarified his, SpaceX and Tesla's bullish stance on crypto in what may have marked a turning point for all crypto markets as it searches for a bottom...

June 8, 2021

 

The question on everyone’s mind: what is driving this latest leg of the cryptocurrency sell-off? The list is not particularly long and is largely technical...

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May 24, 2021

 

Jason Leibowitz sat down for a discussion with the Head of Sales & Trading at Genesis, one of the largest cryptocurrency prime brokers. The conversation happened to take place during the biggest crypto market correction in over a year...

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May 19, 2021

 

The cryptocurrency markets have gotten crushed in the past 24 hours. Bitcoin printed a low of almost $30,000 while Ethereum traded down to a low of $1,800 before rebounding. Some catalysts for the move were...

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May 14, 2021

 

Another cryptocurrency correction unfolded this week putting the discussion of Bitcoin mining energy consumption front and center. We dive into this...

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May 3, 2021

 

April was an eventful month for the cryptocurrency asset class, with many highlights...

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April 22, 2021​

 

Jason was recently interviewed by a blogger about crypto. We wanted to share his answers to questions such as what is Bitcoin; why is it investable; what is blockchain; what is mining, etc.

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April 5, 2021​

 

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.

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March 18, 2021

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Jason Leibowitz joins Ash Bennington, Real Vision senior editor, to discuss Bitcoin custody solutions, growing interest in Bitcoin from traditional investors, and the global debt bubble. 

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Filmed March 11, 2021

 

March 17, 2021

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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.

 

March 1, 2021

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We expect Bitcoin to continue to make higher lows in its corrective moves and to follow the stock-to-flow model with prices eclipsing $100k in the summer of 2021.

 

February 8, 2021

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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?

 

February 4, 2021

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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”. 

 

January 27, 2021

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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?

 

January 19, 2021

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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...

 

January 11, 2021

 

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.  

January 7, 2021

 

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.  

December 29, 2020

 

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...  

November 27, 2020

 

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." 

November 24, 2020

 

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. 

November 5, 2020

 

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... 

October 21, 2020

 

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?" 

October 13, 2020

 

A client of LLG wanted to redeem an investment in a crypto hedge fund in order to buy BTC in his own wallet, but encountered a problem along the way that we helped him overcome... 

October 6, 2020

 

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. 

September 24, 2020

 

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.