Trader Top 9: $50,000 BTC is Breached!

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Welcome back to another jam-packed Trader Top 9!  Last week was just an incessant barrage of good news.  So, this week we must be coming back to earth right?  Think again.

9. First, let's discuss areas within the space that aren't focused on Bitcoin.  On the NFT/digital collectible front, the famed Christie's auction house is auctioning NFTs for the first time.

8. DeFi also got a boost among institutional investors with the introduction of a new Index Fund from Bitwise.

7. Back to Bitcoin now.  Over the weekend, the institutional news just kept flowing in, with Morgan Stanley exploring a direct investment in Bitcoin (to complement their more than 10% stake in MicroStrategy).

6. Speaking of MicroStrategy, Michael Saylor announced the firm was offering another $600m in debt with the intention to buy.. you guessed it.. more Bitcoin.

5. What's more, the converts kept coming.  The CIO of BlackRock said they were "dabbling" with BTC - although didn't offer up specifics.

4. Well-known market personality, Jeffrey Gundlach, also extolled BTC over gold.

3. The Motley Fool - a popular investment publication that has not historically been on Team Bitcoin - announced they had invested $5m of its treasury into the asset.

2. Even more substantively, we received approval for the first (North) American Bitcoin ETF.

1. When all of these developments are taken together, it's no wonder that Bitcoin set another all-time high firmly north of $50,000.  Be honest, would you have predicted this number just a couple months into 2021?  

🔥 Cove Markets now has a Telegram group and a Reddit community page.  Please stop by and let us know what you thought about this week's Trader Top 9! 🔥

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