This is a weekly news digest summarizing the past week. If speed is important to you, you can read the news in Live mode on our Telegram channel, and if you want to keep your finger on the pulse, subscribe to the email newsletter and receive digests directly to your mail.
The week was very eventful, the market sets new maximums almost every day, so let’s remember what happened last week in the crypto world.
Bitcoin at 55 thousand, capitalization 1 trillion!
Waited .. $ 55 thousand and $ 1 trillion!
Less than a year ago, we filmed a detailed video about the “Stock to Flow” model, according to which bitcoin was supposed to reach a value of $ 55 thousand, and a capitalization of $ 1 trillion.
These indicators then seemed to be something unattainable, since the total market value was less than $ 250 billion, and now only one BTC is 4 times more.
We would like to congratulate all bitcoin holders on such a significant day for the industry.
Bloomberg analysts compared Bitcoin’s growth in 2017 and 2021 and said there is a big difference between the two races.
If four years ago the explosion in the market took place in just a couple of months, then in 2020-2021 the growth was gradual. Also, compared to the growth four years ago, the first cryptocurrency is now much less volatile.
This difference is caused by the entry into the crypto sphere of large investors such as Paul Tudor Jones. Then other market players began to buy bitcoin, including MicroStrategy and Square. The breakthrough event was the January purchase of BTC by Tesla.
Prepare for Inflation – Michael Burry
Michael Burrie, founder of hedge fund Scion Capital, who predicted the 2008 crisis and became the prototype for the character in The Big Short, 2015 statedthat the economic recovery after the pandemic and another round of stimulus will lead to higher prices, and does not see Bitcoin or gold as a guaranteed safe haven for investors.
“Prepare for inflation. Resume and incentives on the way. Before COVID it took $ 3 of debt to create $ 1 of GDP, and now the situation is even worse. In the face of the inflationary crisis, governments will begin to suppress competitors in the currency arena – Bitcoin and gold, ”wrote Michael.
Morgan Stanley may start investing in BTC
Counterpoint Global, the investment arm of Morgan Stanley, which manages $ 150 billion in assets, is considering buying bitcoin.
The division’s analysts are now assessing how investment in bitcoin suits the company’s customers. Even if the first cryptocurrency is recognized as suitable for investment, Counterpoint Global will have to get approval from regulators and bank management.
BlackRock is interested in Bitcoin
BlackRock Investment Director Rick Reader spoke about the company’s interest in Bitcoin as an alternative defensive asset.
By the way, BlackRock iShares are the largest ETF issuers in the US with a 39% share and may soon apply to the SEC for approval of their Bitcoin ETF. Moreover, Canada has already approved 2 Bitcoin ETFs.
PS: Learn more about BlackRock and ETFs in our dedicated video.
Record Canadian Bitcoin ETFs
The first bitcoin ETF from Purpose Investments, which launched this week, raised $ 421 million in the first two days, Bloomberg Intelligence analyst Eric Balchunas said.
The analyst noted that for the US market this figure is proportionally equivalent to $ 8 billion. If Purpose maintains the pace, it will become the largest exchange-traded fund in Canada in 20 days, unless the US stock market offers investors a similar product.
The trend for Bitcoin ETF is just beginning.
“Bitcoin to the moon, NASA to Mars. What a wonderful time to live. “- SlushPool
The oldest mining pool SlushPool added to the network block 671176 with the following text: “18 / Feb / 2021 NASA Perseverance and Ingenuity landed on Mars.”…
Now NASA’s message about the successful landing of the Perseverance rover and the Ingenuity Martian helicopter attached to it is forever stored on the Bitcoin blockchain.
“DOGE cryptocurrency for people, it is the currency of attention on the Internet” – MKBHD
One of the most popular tech reviewers, Marcus (or Marquez) Brownlee, MKBHD, shot a video about Dogecoin. The blogger explained the essence of Dogecoin, and also said that the biggest strength of DOGE is precisely that it does not pretend to be something honest and that is why it can become popular (although he said several times that the video is not investment advice ).
“DOGE is a harmless and simple cryptocurrency with which you can begin to understand how investments and trading work, which applications are more convenient for you to use, and so on, in order to then transfer this knowledge to a more serious plane. Anyway, it’s good to understand the joke now, and people will either launch DOGE to the moon or force until he dies, as is usually the case with memes on the Internet. “ – summed up MKBHD.
Coinbase capitalization is $ 77 billion!
According to CoinDesk, the American cryptocurrency exchange Coinbase was valued at $ 77 billion based on the value of privately traded shares. According to them, the quotation of Coinbase shares on the NASDAQ Private Market platform is $ 303 per share.
“Transactions for the third week closed on Friday at a clearing price of $ 303 per share,” the source said. – During the first week it was $ 200 per share, the second week – $ 301 per share, and the third week – $ 303 per share. So you can understand how the pricing happens. “…
Please note that the post-listing price can be very different from the current secondary market price based on half a percent of the shares available. Sources, however, say Coinbase’s stock trading volume has been “significant” to date.
By the way, the tokenized contracts for Coinbase shares that are traded on FTX are currently trading around $ 380.
⚡️BNB entered TOP-3
The price of the coin rose to $ 350, and the capitalization at the moment exceeded $ 55 billion (approximately 2/3 of Coinbase’s capitalization).
Many exchange tokens have also shown good gains amid Coinbase’s real value determination.
DAO Maker announces “35 days of growth”
DAO Maker Announces 35 Days Of Growth And Launch Of Their Multi-Investment Platform By End Of March
Read more about the DAO Maker universe in our article. And we recently had an AMA with the DAO Maker team in our chat, this will also help to learn a little more about the project.
PS we all remember what happened to Elrond as part of their “100 days of hypergrowth” program, and Elrond is one of the first projects that DAO Maker was initially developing on.
What kind of A2DAO is this?
The last few days in the chat rooms began discussing the A2 project and their upcoming sale. What’s the point?
In fact, this is an incubator of projects, like DAO Maker, whose token showed 50x, or DuckDAO – 90x. There are a little more of them and @CryptoLamer wrote about them very clearly in this post.
But the most interesting thing, perhaps, is not even in the native tokens of such incubators themselves. Tokens make it possible to enter into the projects of these incubators, and in such a market, almost every such story is a big deal. Learn more about the A2DAO project on Medium.
What to watch?
Stream with Sergey ICO Drops
Stream with Sergey ICO Drops – discussed the hottest and latest news on crypto and not only.
Trading FAQ by Hexdrunker of DoubleTopTraders
We decided to call Toha from DoubleTopTraders and discuss the most frequently asked questions about trading – how to manage your risks, how to deal with greed and phomoeba, correctly fix profits and much more. Perhaps we will even make it a regular rubric.
Hexdrunker – about DoubleTopTraders, dragons and speculators
Astrologers announced @DoubleTopTraders day on Incrypted channel. The number of Hexdrunker vidos has doubled.