Humble Bitcoiners!
It's Monday, so get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
Did you stack today? |
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| Today's Rundown: Bitcoin ETF: The first bitcoin futures ETF set to go live in the U.S. Citadels: Escaping tyranny through sovereignty. Shortage: Lowest level of float supply in the last four years. Liquidity: Bitcoin's volatility in times of economic crisis, reflects its independence. |
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SEC Set To Allow Bitcoin Futures ETF Trading This Week
By Nik Hoffman The Security Exchange Commision is set to allow trading of the first Bitcoin futures exchange-traded funds (ETF). According to an anonymous source, reporting to CNBC. The first Bitcoin futures ETFs set to be launched will be to Invesco on Monday and ProShares on Tuesday.
A bitcoin ETF has been awaited from the community for some time now, as it open doors for institutional investment, and remarks on the validity and success of the asset. No surprise, the price surged immediately, breaking $60,000 this weekend for the first time since April. |
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| This piece, inspired by the third chapter of Jordan Peterson's 12 Rules For Life which is entitled: "Make Friends With People Who Want The Best For You."
According to the author, Bitcoiners fall in this category, as the primal interest is not "to get rich" but "fixing the money so we can fix the world." As Bitcoiners venture to this path, they are often called "toxic maximalists" as they sometimes show themselves intolerant to fake and dangerous narratives which skews the core idea, doing so from a place of deep insight and caring.
In a space filled with malicious actors, Bitcoiners are here with nothing to sell to you but your own freedom and sovereignty. With this in mind, Bitcoiners get together with likeminded individuals using money as the technology of social cooperation in order to build a better future for their immediate community, building citadels.
"Bitcoin is an objective truth, emergent from a network of intersubjective truths, resulting from our own subjective discovery of truth." - Aleksander Svetski |
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Click the links:
1. MicroStrategy has officially doubled its money on its bitcoin investment. The company’s $3.16 billion in Bitcoin is now worth $6.7 billion.
2. Umbrel presented new research that showed 90% of the lightning nodes brought online in the last year run on the company’s software.
3. Bitcoin surpasses $60,000 and looks poised to retake a new all-time high soon and pump to prices never seen before.
4. Jack Dorsey’s Square has officially doubled its money on its bitcoin investment. The company’s $220,000,000 invested in Bitcoin is now worth over $470,000,000.
5. The Lightning Network makes Bitcoin the most efficient payment system in the world. But, in basic terms, how does it work?
6. MassMutuals’s $100 million bitcoin purchase in December 2020 is now worth more than $300 million.
7. The Wyoming Senator delivered a speech saying we're lucky to have bitcoin amid governmental irresponsibilities.
8. The Indonesia Bitcoin Conference is a chance to educate Indonesians about a better savings technology.
9. The American dream of owning a home and financial freedom has been killed by the inequality in our legacy system. But Bitcoin offers a new dream.
10. We may see a physically-settled, spot Bitcoin ETF on the market sooner than later, as Grayscale announces intention to file early this week. |
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| The bitcoin float supply is an estimation of the available bitcoin on the market for sale. The measure is estimated by summing up the short-term holder supply and the supply balance on exchanges in total as a percentage of circulating supply. In other words, it is the total circulating supply minus the long term holders.
According to the authors the current float supply of bitcoin is 5.52 million, equivalent to 29.31% of the circulating supply. These levels have not been seen since early 2017 and afterwards the price went on to 21x in just 12 months.
Whatever happens next, it is clear that long term HODLers are not thinking of selling off their bitcoin for cheap. |
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Bitcoin's Unprecedented Liquidity Can Explain Its Price Volatility
By Matthew Pettigrew As the world’s most liquid asset, bitcoin’s price volatility in times of economic crisis likely reflects its independence, not lack of faith.
When talking about bitcoin, the first thing people point out is: "Oh, but it is too volatile." In this article, the author walks us through why bitcoin's volatility is not about faith but about liquidity, and how bitcoin has emerged as the most liquid asset throughout this latest financial "crisis" and pandemic.
One of the main points the author pintpoints, is that despite bitcoin being a great asset, it is not immune to speculation and fear from the markets. And being the only real asset that trades 24/7/365 which offers global final settlement within minutes, in the short term it could experience selloffs just as March 12, 2020. But it continues trading with resilience, and no need for bailout. |
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By HaggsBoson
There are many fiat economist out there attemting to undermine the value of bitcoin by creating narratives which fits their bias. It is ok, time and price action has kept and will keep proving them wrong. Meanwhile we can focus on more important things, educating the people around us.
And.
Stacking harder. |
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