Crypto News: Bitcoin Beats Gold, Microstrategy, NFTs and Robinhood

Crypto News: Bitcoin Beats Gold, Microstrategy, NFTs and Robinhood

This week is no exception as the crypto news   continues to be positive. Breaking News!! Bitcoin has passed the 1 Trillion dollar mark. A major flipping  happened within the last 24 hrs, a popular investing website has made a 180 reversal on  its opinion of BTC, MicroStrategy is at it again   and everyone’s new favorite to hate,  RobinHood is  changing its platform to be more crypto friendly. 

If you’ve been following the traditional  markets you’ll know that Bitcoin   is mooning and gold is languishing. Even though  inflation fears are rising and gold has been,   in the past, traditionally the  world’s best store of value,   the shiny yellow rock is having a hard time making  new all time highs. 

Orange coin for the win  If you just look at the numbers, Bitcoin is   up 80% since January 1st of this  year, while gold is down 7%. 

A lot of people have speculated about why  this is happening. It would seem like the   same types of macro events, like inflation  and the collapse of the financial system,   would benefit both gold and Bitcoin. But  orange coin goes up and yellow rock goes down.  One reason could be is that Bitcoin simply has  a lot more room to grow than gold. Most people   who will ever own gold, already own it. While  only a few percent of the world’s population   owns crypto. As these new buyers step into the  cryptoverse they’re driving up Bitcoin’s price.

BTC is a growth asset and as more people realize  that, the trend higher in price just keeps   accelerating. If you thought MicroStrategy already has so  much Bitcoin that they couldn’t possibly buy   any more of the stuff. Well, that simply  isn’t the case. Gigachad Michael Saylor   is back in the buying market and this time  he’s offering up a $900 million convertible   note which will be used to buy Bitcoin.  



What this means is Saylor is selling an   IOU ( the note) in exchange for a promise to pay  back the principal plus interest worth of equity   in MicroStrategy. This means Investors can get  exposure to BTC without taking on the RISK of   holding the asset themselves by investing in the  company that holds it on their balance sheet.

Here’s what we think is so interesting  about this latest offering.  When Saylor first made the announcement the  plan was for a $600 million offering. Seeing   it get bumped up to $900 million means the  investment market is hungry for Bitcoin.  Second, check out the interest  rate on this note! It’s   0%! The only way Saylor could  possibly offer a 0% note is   if there is so much demand that investors are  fighting with each other to get in on this.  The whole episode is just more evidence of the  extreme demand for Bitcoin in the marketplace. 
 

One of the emerging themes of 2021 is a  wave of investors and institutions who   are changing their mind about Bitcoin and crypto.  Howard Marks  Mark Cuban   Ray Dalio JP Morgan  Bill Gates The list goes on and the newest entrant is  Motley Fool, one of the largest websites in the   world that provides investing advice.

Back in 2013  Motley Fool ran an article with the title, quote,  “Why Bitcoin Is a Horrible Investment Idea”  Well it seems that they’ve changed their  mind. A few days ago Motley Fool announced   that they’re buying $5 million worth of  Bitcoin and that they believe Bitcoin is   a valuable asset to protect against inflation.  So there you go, another one hater get’s  orange pilled. The longer Bitcoin is around,   the more recognition it gets. 

NFTs are poised to be all the rage  in 2021. These digital tokens have   been popular with crypto enthusiasts ever  since Crypto Kitties came on the scene in late 2017,   but we’ve reached that point where a  niche cultural fad is going mainstream.  The bespoke auction house Christie’s is  going to sell an NFT for the first time   in history. It’s a digital collage  done by an artist named Beeple,   who made millions of dollars  selling some of his NFTs in 2020. Crypto News: Bitcoin Beats Gold, Microstrategy, NFTs and Robinhood We think this is a really  big deal for two reasons.  One, it legitimizes NFTs as a real type of  artwork. A lot of people have questioned how art   that’s 100% digital can have value. Admittedly  it’s a tough concept to wrap your mind around,   but if Christie’s is getting involved  it shows that NFTs are the real thing.  Secondly, this auction shows how  crypto culture is going mainstream.   Crypto is breaking out of the box and finally  gaining the recognition that it deserves. 

For years one of the biggest  criticisms of Robinhood’s crypto   platform is that they didn’t allow withdrawals.  One of the key advantages of crypto is  that users can control their own money.   They can send their crypto to whoever they want  and nobody can stop or reverse a transaction.   None of that applies if you’re just holding your  crypto with Robinhood though. Not your keys,   not your crypto, and the fact that Robinhood is  going to finally allow withdrawals is a pretty big   deal because it increases the surface of potential  investors who can now truly own their crypto. This move also puts pressure on other platforms to  do the same thing. How long before PayPal starts   letting their users withdraw crypto as well? 


BNB has a new #3 badge on its sash as it has   flipped tether to stand on the winners podium.  And hers where I get to say don’t be a Motley   fool like me. As an illustration of the  power of HODLE from my own wallet you can   see just how much I would have it I had just  held on to my measly 13 BNB since 2019.  Crypto News: Bitcoin Beats Gold, Microstrategy, NFTs and Robinhood   The future is here and nothing proves that better  than the price of gold. The digital product goes   up, the analog product withers in its vault. One  is forward looking, one is lost in the past. 

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