Saturday, March 6, 2021

Blockchain Bites: Microstrategy Macro Strategies for Bitcoin Treasuries – Coindesk

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Three stories

Mining companies are benefiting from market assemblies. California 1 441 Billion Public Pension Fund Bitcoin Minor Riot Increases Blockchain Partners (Riot) About seven times when etherium miners Cranking record earnings.

  • As of Tuesday’s filing, California Public Employees’ Retirement Scheme (Calpers), the largest public pension in the United States, by the end of 2020, has 113,04 held shares in RIOT, according to Tuesday’s filing. This was a comparative subtraction price of 1,907 RIOT shares of California. 49,000 That’s it
  • Meanwhile, the transaction has been made public Bitcoin Mining company Argo Blockchain bought 122.5 BTC in January, amid rising earnings. The new bitcoin is stashed Currently valued at over 6 6 million.
  • Ethereum miners earned a record 830 million in January as network activity, fees and ether prices all rose. About 40% of total mining revenue came from network fees.

2. Industry experts are seeing two bullish signs for crypto. First, balance Dye (DAI) and USD currency (USDC) There is an exchange Hit high for lifeAccording to Glassnode. Meanwhile the Guggenheim study is underway To set the price target for Bitcoin, 000 600,000.

  • Increasingly stable balances can predetermine huge purchases for the crypto ecosystem. “New flow [to crypto markets] More mainstream companies are taking part [that] There is a strong trend for transparent, trustworthy, controlled dollar stability, ”Jeremy Allayer of the Circle told Muao Shen of Koindesk.
  • The six-figure price tag may be far from over, but Scott Maynard, Guggenheim’s chief investment officer, reversed his earlier bearish remarks to say bitcoin – if it follows the path of gold – would attract huge amounts of money to the company.
  • For example, Rafar Investment Management invested 2.5% of its $ 27 billion portfolio in Bitcoin in November and recently acquired it. 50 750 million profit in this dealAbout half of the holdings at the top of the market sold for about, 40,000.

3. Crypto met with the trade: Visa is working with Crypto Bank Anchorage to allow customers of traditional banksBuy and sell digital assets such as Bitcoin.“It will come through a suite of application programming interfaces (APIs) for banks to plug in and play crypto ecosystems.

  • “This is the next step in the Visa strategy where we see how Visa can become a bridge between thousands of financial institutions … and help them tap into the growing world of crypto assets and blockchain networks,” Qui told Sheffield Coindesk’s Nat Dikimilo.
  • Separately, investment firm Accelerate Financial Technologies has filed an initial prospectus for the new Bitcoin Exchange-Trade Fund (ETF) with Canadian securities regulators.

Endangered

Macro strategy
More than 15% of the total bitcoin transaction supply has been transferred to “synthesis addresses”, according to the latest accounting by the information agency Glassnode. This figure often shows how the holders are tying for the long term.

Stand up At a 3.5-year high, about 80,000 BTCs have moved to these addresses. According to Omkar Godball, a reporter for Coindesk Market, one of the conditions is the provision of an account for the wallet of at least two non-trivial transactions.

This latest milestone came as soon as Bitcoin left the exchange. As Coindesk has previously stated, currency flows on exchanges generally indicate declining sales.

“Bitcoin’s uninterrupted locking up has led to a lack of liquidity on the sales side, led by increased institutional buyers, and has helped manage the recent bull run,” Godbole wrote.

In fact, big market players are depositing bitcoin. In December, grayscale was added 72,950 BTC In its assets under management, excavated in the same period exceeded 28,112 BTC. (Grayscale and Coindesk are wholly owned by the Digital Currency Group)

Meanwhile, MicroStrategy, an intelligence agency that made a name for itself in order to be all-in on Bitcoin in 2020, is searching for its Bitcoin treasury. According to the Bitcoin Treasury, the publicly traded firm now has a total of 91,099 BTC, valued at ৯ 2.9 billion.

Michael Sayler, the company’s chief executive, has become an advocate for the industry and argued that corporations should invest their cash holdings in hard-capped cryptocurrencies. He famously called Fiat a “melted ice cube.”

Today, Microstrange is hosting a conference where Sailor wants to pitch his team on the value of bitcoin investments. Sailor says he plans to cover his “playbook” with accounting and legal guidance. Danny Nelson of Queensdesk will cover the event.

“We have thousands of executives, executives and directors and advisers to the corporation coming together in the first week of February and they all want to know how to plug Bitcoin into their balance sheets, their PNL,” Sayler told CNBC, “Power Lunch” in January.

Joe Dipasquel, chief executive of the San Francisco-based Bitcoin and Cryptocurrency Hedge Fund, said: “This conference could increase interest in Bitcoin and if it does not translate into immediate price gains, it will have a positive, long-term impact,” said BitBull Capital. Forbes.

In fact, if Sailor’s pitch is successful, the industry will see many new entrants from institutional money. This is a future that has been predicted by others, including Scott Minard, Guggenheim’s chief investment officer.

As others have noted, Bitcoin has quickly reached a point when no more currencies will be shaken (approximately 2140). Casa CTO Jameson Lop Keep it that way: “The final bitcoin will be minted increasingly over a 40-year period.”

Quick bite

  • India ink? The proposed rules to restrict cryptocurrency in India are still being debated, leaving written rules for interpretation. (Coindesk)
  • Interesting business: Blockchain startup SUQ will take its high-end sneaker authentication system to the Hidera hashgraph, citing unbearable fees at Ethereum. (Coindesk)
  • OPCC UPST: A Navy couple used their military connections to steal and resell personal identification information from civilians for Bitcoin. (Coindesk)
  • Unispap for NFT: Raised ল 1.75 to build a rare DAO. (Coindesk)
  • Not blocked: The crypto personality joins Mike Dudas Pax as a stable leader. (Coindesk)
  • Hashmax craze: 16,000 NFT was sold for 9 million. (Decrypt)
  • DFI Mortgage: An engineer repaid his bank loan and refinanced using notional finance.Guilty)
  • Biden Becker: Detectives gave a profile of Sam Bankman-Fried of FTX. (New York)

Who won the crypto twitter?

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