"The direction of the mind is more important than its progress."
Happy Saturday! Let's get after it...
My Hot Take!
I am sure that this crash is troubling for many of you. If you've not experienced this before it can be rough. However remember nothing fundamentally has changed with Bitcoin or many of the other projects sooooo... "Remain calm and HODL on!"
MicroStrategy bought more (before the crash), Fidelity launched a SPOT ETF in Canada, and banks are looking to provide Bitcoin backed loans; all wildly bullish. Former CFTC Chair Crypto Dad says let the markets decide if Bitcoin will win.
For the Podcast of the Week is Bitcoin Audible, hosted by Guy Swann reading Nik Bhatia - Bitcoin is NOT Crypto.
Well that's a wrapped burrito. Exercise patient and try not to get wrapped up in the day to day drama in the space. Zoom out. Remain focused, Stack Sats, stay STRONG, and HODL on!
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GET INTO THE WEEDS!
Price: One week ago, Bitcoin was $54,729.76 and now it is $46,965.99. We are in the midst of a massive crash. As I've constantly encourage folks be in a position no matter what the market does. If it pops you are happy, if it drops - you BTFD, or goes sideways you chill.
Altcoins: Best performing top 10 Altcoin for the past week is SOL; it is down -3.92%. Runner up is ETH; down -5.32%.
Follow Dat Money: This week the deep pockets got serious once again about funding Digital Asset and Blockchain projects to the tune of about $3.4B.
The big spender this week was Matt Zhang, former Managing Director at Citi, who launched HiveMind, a $1.5B Crypto fund that tapped Algorand as the first partner.
He wasn’t alone in focusing on Algorand as Borderless Capital will use its $500MM fund to back projects powering the “next generation” of decentralized projects on the site.
Monday: Crypto Markets Gain $130B in a Day as Bitcoin Reclaimed $57K (Market Watch)
Tuesday: MicroStrategy Buys $414 Million Worth of Bitcoin
Wednesday: Fidelity Launches a Spot Bitcoin ETF in Canada
Thursday: Former CTFT Chairman: Let Markets Decide Bitcoin’s Value
Friday: Goldman Sachs, Other Wall Street Banks Exploring Bitcoin-Backed Loans
PODCASTS OF THE WEEK
The Pomp Podcast: #734 The Economy Is Worse Than You Think w/ Preston Pysh
Bitcoin Audible: Read_580 - Bitcoin and Crypto Aren't the Same [Nik Bhatia]
The Wolf of All Streets: Veteran Algo Trading Architect Shares Advice For Crypto Traders | Dave Weisberger, CoinRoutes
The Keyvan Davani Connection: KDC #196: The Orange Pill for The End of All Cycles. Hyperbitcoinization- with Joe Burnett & Luke Mikic
Stephan Livera: SLP326 Dylan Leclair Using Fiat Debt For Bitcoin Stacking
- Price of Bitcoin: 14.14% (week) | Dominance: 40.5% | MC: $2.2T
- Mayer Multiple: 1.16 (.01)