The Trader Top 9: Bitcoin Treasuries, Central Bank Digital Currencies, and China Airdrops


Welcome back to another Trader Top 9. There is a bitcoin bull breeze blowing for some very good reasons…

9. First, just as we went to press last week Square announced that it was moving $50m of its treasury into bitcoin - about 1% of its assets. While the amount overall might be smaller than MicroStrategy, some think it will be even more influential.

8. This week, the bitcoin treasuries news became a trend as a $10B AUM firm - Stone Ridge Asset Management - announced a 10,000 BTC treasury. Bitcoiners created - a handy little website to track public companies with BTC on their balance sheets.

7. Just so it's clear it’s not just our little corner of the world that thinks this is bullish, a JPMorgan research note from this week said the same thing.

6. There was also quite a bit going on with central bank digital currencies. The IMF, World Bank, WEF, OECD and G20 all made statements or released reports.

5. If you’re wondering why there is such an uptick in CBDC conversations, perhaps look no farther than China, which has ratcheted up DCEP launch efforts significantly - including running a 10M digital yuan lottery last weekend in Shenzhen. 

4. Now, just because governments are getting aggressive about CBDCs, doesn’t mean they’re all hunky-dory with crypto more broadly. Indeed, to some it feels like we’re entering a regulatory reckoning.

3. But regulations aren’t the only trend that’s shifted, and many of these 2020 shifts are exactly the type that make crypto so important right now.

2. Indeed, if anything, it feels like we’re entering a new territory - an “open source monetary system” - to quote the head of Stone Ridge.

1. And as we enter in, the fundamentals are looking brighter than ever.

BONUS: Big news today as Filecoin goes live after years of anticipation. Bullish trading has led to a current market cap of $470 billion!


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