Health, Wealth, and Happiness |
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“Invest in yourself. You can afford it, trust me.” - Rashon Carraway |
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| Howdy, investors!
You've probably seen the recent hype around Solana (SOL). In today's feature column, we dive into whether Solana is really a good long-term buy, and what it needs to do to overtake Ethereum.
BlackRock is keeping up the pressure on the SEC, filing a new application for an Ethereum spot ETF. This follows their June 2023 application for a bitcoin ETF, and it's clear they are fighting the good fight to bring crypto to mainstream investors.
Also, South Korea delivered a vote of confidence in crypto as filings show its National Pension Service (NPS), the world's third-largest pension fund, has invested nearly $20 million in Coinbase stock. It's small compared to the overall assets of the NPS but also marks the fund's first investment into anything crypto-related.
Finally, we get a little philosophical by diving into an essay discussing what it would mean if money had a shelf life. While the essay focuses broadly on Jacob Goldstein's Money: The True Story of a Made-Up Thing, it also delves into the idea of decaying money that comes with an expiration date.
Read on to learn more! |
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| Is Solana (SOL) Worth the Hype? by John Hargrave |
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Crypto investors are buzzing about Solana again, and with good reason: the value of SOL is up over 350% since a year ago: |
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| It has many of the hallmarks of a good investment: it’s a real project (a leading Layer 1), with real users (about 100K/day), generating real revenue (about $50K/day in fees).
But is it a good long-term investment?
At Bitcoin Market Journal, we’re in this for the long haul. And personally, I think Solana is a long shot in the long term. Here’s why. |
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NEW Blockchain Risk Scorecard: Dai
In our newest Risk Scorecard, we're looking at the long-running Dai stablecoin (DAI).
Dai (DAI) is a decentralized stablecoin pegged to the value of the U.S. dollar, collateralized by diverse assets such as ETH, USDC, and real-world assets, and overseen by the governance community at MakerDAO.
While USDT and USDC win out in total market cap and usage, DAI plays a vital role in crypto lending. Many consider the DAI Savings Rate as the de facto risk-free interest rate in the sector.
However, Dai lending is not totally without risk. |
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| In this newest scorecard, you can see how we rated some of the project's inherent risks and rewards. With that knowledge, you'll be better equipped to decide whether or not Dai lending is something to pursue.
Premium Members: Download our Risk Scorecard and find out where Dai lands regarding team, financial, regulatory risk, and more.
Become a Premium member and get access to our best crypto investing content, from crypto rating scorecards to exclusive webinars and workshops. Join today! |
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| | | Must Read Today's most important stories for crypto investors. |
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| Investor takeaway:BlackRock, the world's largest asset manager, has filed with the U.S. Securities and Exchange Commission for a spot Ethereum ETF. The move comes after the firm's June 2023 application for a spot bitcoin ETF.
This filing could represent a step toward mainstream financial recognition of Ethereum. For investors, this indicates a growing institutional interest in the crypto, which could lead to increased market stability and potentially higher demand. |
| Investor takeaway: South Korea's National Pension Service (NPS), the world's third-largest pension fund, has invested in cryptocurrency by purchasing $19.9 million shares in Coinbase Global.
While the purchase is a drop in the bucket compared with the $755 billion in assets the fund holds, it marks the first time NPS has included a crypto-related security in its investment portfolio.
For investors, $COIN has long been one of our favorite "block stocks" (traditional stocks with blockchain technology). Looks like governments are starting to agree. |
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| Investor takeaway: Money is strange, representing value in trade while remaining untethered to a specific commodity or object. Jacob Goldstein's Money: The True Story of a Made-UpThing asks a simple yet profound question: would we be better off if money expired or was perishable?
This article discusses the book and focuses on the story of 19th-century German entrepreneur Silvio Gesell, who proposed a monetary system with "decaying" money to encourage circulation and reduce hoarding.
This idea would be possible with crypto: creating money that disappears or loses value over time. It's an interesting thought experiment for those looking to refresh your thinking about money. |
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| | ICYMI In Case You Missed It |
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| | | Blockchain Basics Explain Like I'm 5 |
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| BMJ Basics How To Find Good #crypto Investments? |
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| Best Stablecoin Interest Rates The best rates for staking and lending stablecoins this week. |
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We're ending the week at $36,500. |
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| Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Steve Walters, Gerald Jackson, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.
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