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| "The greatest lesson that I learned in all of this is that you have to start. Start now, start here, and start small. Keep it simple." - Jack Dorsey |
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| Howdy, investors!
- Polygon is one of the most successful layer-2 scaling solutions, but is its MATIC token a good investment, or is it being overshadowed by newer competitors like Arbitrum and Base? Get our in-depth analysis below.
- Bitcoin is the OG crypto, and most crypto investing strategies make it the centerpiece. But many people buy BTC without a strategy, so today we look at both the pros and cons of investing in bitcoin.
- Long-term investments are our preferred way to build wealth. Many studies have shown the power of long-term investing in the stock market, and today we show you how to pick good long-term crypto investments.
Read on! |
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| This Week in Bitcoin Market Journal Our latest crypto investing insights and ideas. |
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| Should You Invest in Polygon (MATIC)? Charts, Stats, Analysis for 2024
The story of Polygon began in 2017, initially launched as the Matic Network by co-founders Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. They saw that the Ethereum network was still slow and expensive, and started working on a solution.
Their solution was Plasma chains, which offload Ethereum transactions onto sidechains to improve throughput. Their innovative solution quickly gained traction, attracting both developers and users.
In February 2021, the Matic Network rebranded to Polygon Technology, expanding from a single layer-2 solution to a multi-chain ecosystem designed to connect and grow Ethereum-compatible blockchain networks.
The rebranding also introduced the Polygon SDK, which makes it easy to create Ethereum-compatible blockchains and scaling solutions. The Polygon team, in effect, created an "internet of blockchains" that all work with Ethereum.
Polygon quickly became the leading solution for making Ethereum faster and cheaper. However, new competitors like Arbitrum and Base soon entered the scene, and blew past Polygon in users and transactions...
Is Polygon still a good deal? Click for our complete analysis >> |
| Should I Buy Bitcoin? Pros and Cons of Bitcoin Investment
Bitcoin is an asset that consistently defies traditional investor expectations. On a good day, the price of bitcoin can surge 20%, causing many investors to pile in, hoping to catch the wave. On a bad day, the price of bitcoin can drop 20%, causing many investors to flee for the exit.
Expert opinions are equally divided. While many traditional finance experts write it off as nothing more than a fad or speculative bubble, more organizations continue to pour billions into bitcoin each year, driving its market cap above a trillion dollars.
In our updated guide, we help new investors make an informed decision on investing in bitcoin, based on objective facts. The guide also includes an overview of our approach to investing in bitcoin (and crypto in general).
Read our guide for your bitcoin-curious friends >> |
| Crypto Investing Strategies: How to Pick Long-Term Investments
In 1908, Henry Ford introduced the Model T, and automobile stocks went crazy.
At the time, autos were expensive luxury goods, built for the wealthy. Every auto company had its own design, so there were no standards, which made their cars difficult to repair when they fell apart, which they often did.
Even so, investors saw that automobiles were the next big bet, so there was great speculation around these stocks. Locomobile. Maxwell Motors. The Stanley Steamer. These were the hot stocks of their day, the Teslas of their time.
The industry was so young that no one knew who would survive. Companies with a good investor pitch might see their stock prices soar, only to crash when they failed to deliver. Many auto companies went public, despite a limited ability to actually make automobiles.
If all this sounds familiar, it’s because the crypto industry is in its early stages of valuation, where nobody is sure what to pay for anything. But there are long-term lessons we can learn from this time in history. And it starts with the Model T...
Learn how to pick great long-term crypto investments >> |
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| In addition to our massive library of premium content, Premium members get our exclusive BMJ Reward Tokens, which are airdropped to your wallet on the 1st of every month!
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These tokens can be redeemed for exclusive crypto merch, including apparel and collectibles. Or, you can HODL the points for future benefits! New Premium members: If you haven't already, be sure your MetaMask wallet is connected by September 1 to receive your next delivery of BMJ tokens.
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| Must-Reads This week's most important stories for crypto investors. |
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| (Blockworks) - Despite recent underperformance due to stagnant ETF flows, experts emphasize ETH's strong fundamentals and ecosystem, suggesting a bullish long-term view. (We're not the only ones who are long-term believers in ETH.) |
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| Conflicts of Interest in Crypto (Bell Curve on YouTube) - Perceived conflicts of interest can be just as damaging as actual ones, and transparency is crucial for maintaining trust. This video shows why self-policing within the crypto industry is critical for maintaining credibility. |
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| (The Defiant) - The 2024 Democratic Party platform has surprised left-leaning crypto enthusiasts by omitting any mention of cryptocurrency. This absence is particularly striking given the growing adoption of bitcoin and Ethereum by Wall Street this year. |
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| (Coin Metrics) - 2024 has seen rising usage of wrapped assets. Wrapped Bitcoin (WBTC), an ERC-20 token representing bitcoin, is a key player in this space. WBTC is going through many changes and challenges: this primer is a good place to get up to speed on why (and whether) to wrap. |
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| (TheStreet) - In this roundtable discussion, experts are divided on whether mass retail adoption of bitcoin and other cryptocurrencies in the U.S. is imminent. Improving regulatory conditions are the bull case, but lack of regulatory clarity is the bear case. All agree that improved user experience and emerging use cases, like stablecoins and tokenization, are potential drivers of increased adoption. |
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Chart of the Week BTC Daily Active Users versus Transactions |
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| Something interesting is happening with bitcoin.
Daily active user counts have been falling since the start of 2024, which would typically be concerning. However, we're also seeing bitcoin's transaction counts nearing record levels (along with bitcoin's price).
Why might this be happening?
- Daily user counts could be on the upswing, as crypto traders are turning away from fads like memecoins.
- Daily Active Users could be getting a boost from a recent drop in bitcoin price: retail users might be buying the dip.
- At the same time, the total number of transactions is increasing, thanks to the approval of spot bitcoin ETFs.
- Institutional traders may be engaging in more algorithmic trades that generate many quick transactions, with the aim of fast profits.
Whether or not our theories are correct, the drop in DAUs certainly hasn't hurt the BTC price. At the same time, the increased transaction counts are likely helping bitcoin generate more fees and revenues, despite the lower number of users. |
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| | | ICYMI In Case You Missed It |
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In case you've missed our recent newsletters, here are links to the August 12 and August 19 newsletters, as well as the most recent BMJ investor content:
Is the OP token still worth your investment? Read our complete analysis.
If you pay off your credit card balance each month AND you want to earn extra crypto, here are our top bitcoin credit card picks today.
The Great Platform Shift is coming to the global financial system -- here's how you can invest in it now. |
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