Trader Top 9: Bitcoin Not a Fad

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Another week, another slew of new financial institutions writing positively about bitcoin. What did they say? Let's find out!

9. Last week ended with a bang, with a huge amount of discussion around the STABLE Act, which would force stablecoin issuers to be regulated like banks, and could even threaten node operators

8. Yet if there were new regulatory drums beating, there was nothing stopping the cascade of Wall Street and traditional institutions into crypto. Even those who weren't allocating yet were part of a shifting narrative.

7. There were also interesting rumblings about why bitcoin's popularity might negatively impact gold

6. One of the most notable traditional finance in crypto announcements came when S&P Dow Jones announced their intent to launch crypto indices in 2021

5. Perhaps part of the bullishness was the global rally in equities - with the total market capitalization of public equities hitting $100 T for the first time

4. Whatever the case, whatever the reason, the week was capstoned by Michael Saylor's MicroStrategy offering debt to buy even more bitcoin

3. This prompted some to ask whether something similar might happen for Ethereum

2. It's hard not to feel like the industry has the wind at its back. Especially when companies like Square lead the charge against key remaining thorny issues like the environmental impact of mining.

1. Yet for all of that, it is perhaps worth noting that the larger bitcoin and crypto get, the more reason for governments to be antagonistic there are. Stay vigilant.

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