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HEALTH, WEALTH, AND HAPPINESS |
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"The holiday season is a perfect time to reflect on our blessings and seek out ways to make life better for those around us." - Terri Marshall |
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I Gave My Mom a Crypto Wallet (WSJ): A heartwarming (and geeky) story of one journalist creating an NFT out of her four-year-old son's artwork, then gifting it to her mom.
Investor takeaway: If you're looking for the perfect last-minute gift, consider opening a crypto wallet for family or friends. (BTC or ETH are always great gift ideas; NFTs are riskier but cooler.) |
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If you had gifted a CryptoKitty (the OG NFT) back in December 2017, your gift would have grown in value ... eventually. (Waiting four years is the hardest part.) |
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Investor takeaway: When giving crypto gifts, remember that NFTs can take a long time to grow in value (if they ever do). BTC and ETH, on the other hand, are always in style. Give gifts generously but thoughtfully. |
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Hi all, As we wrap up 2021 and set our sights on the New Year, let's take a look at some of the more memorable moments for the crypto industry in 2021….and what we can look forward to in 2022.
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Crypto surge
2021 has been a most memorable year for bitcoin—the cryptocurrency hit new highs, got banned in China and was recognized as legal tender in El Salvador.
The coin saw increased adoption from both institutions and retail investors alike. The number of wallets increased as well, jumping almost 20% year to date through the end of November.
But it wasn’t just about bitcoin. Among the top 10 news searches in Google Trends for 2021 were "Dogecoin" and "Ethereum Price."
So while the king of coins is up almost 70% year to date, according to CoinDesk, ether has also skyrocketed, climbing over 400%. And the meme coins battled it out, with dogecoin up over 3,000%, while shiba inu has risen more than 46 million percent.
And with more retail investors comes greater regulatory oversight.
While the market anticipated a friendlier regulatory environment under U.S. Securities and Exchange Commission Chair Gary Gensler, the results have been mixed.
While the first U.S. bitcoin exchange-traded fund (ETF) went live in October, the fund is futures-based, and just today, the SEC nixed two spot-bitcoin ETFs.
What does 2022 Hold For Crypto?
It doesn’t look like bitcoin will make it to $100k in 2021—will it be in store for 2022?
Social intelligence platform LunarCrush recently conducted an informal poll to ask participants where crypto will head in 2022.
The overwhelming majority of respondents said 2022 would be a bull year for crypto markets.
The crypto universe is continually evolving and growing, with over 4,700 coins created in just the past two years. Continued inflationary pressures, future variants, and monetary policy tightening will present a slightly different investment landscape in 2022.
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NFTs—disrupting art and everything else
What about NFTs? From CryptoKitties to Beeple, NFTs went from an obscure concept to the future medium of art. In just the third quarter, NFTs generated close to $11 billion in trading volume—a 38,000% increase from the same time last year.
Beyond art, NFTs are disrupting the fashion and consumer industries as well. Top fashion brands—Gucci, Louis Vuitton, Burberry—along with significant consumer names—Coca-Cola, Nike, McDonald’s—are all creating and collaborating on NFTs.
And where will the transacting and purchasing of virtual items with digital currencies occur? The next logical step for virtual currencies and digital representations of art and fashion is in the metaverse.
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Enter the Metaverse
The level of activity in the metaverse exploded in 2021 and is predicted to add $1.5 trillion to GDP by 2030, according to PwC.
The virtual realms of the metaverse are increasingly including aspects of both the digital and physical worlds. From watching concerts to attending seminars to buying real estate or shopping, the investment opportunities are being compared to the early days of the internet.
And China—who infamously banned crypto earlier this year—is pouring money into the metaverse, or as translated, the Yuanyuzhou.
From investment institutions to celebrities, the country is investing heavily in the metaverse.
Over 8,500 trademark applications that include “metaverse” in the name have been filed. Alibaba, Baidu, Tencent and TikTok parent ByteDance all have investments in the metaverse. Indeed, in Shanghai, the government is looking to assist firms as they investigate “important platforms for the interaction between the virtual world and real society."
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Whatever world or metaverse you're currently residing in, I would like to thank you for reading! I wish you all a most joyous and prosperous New Year and to all those who celebrate a very Merry Christmas. |
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Evamarie Augustine Market Analyst |
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He's making a great point! |
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Even Kris Kringle's gone crypto. |
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Bitcoin Market Journal is a daily newsletter focusing on blockchain and crypto investments. It is written and edited by Evamarie Augustine, Charles Bovaird, Mati Greenspan, and John Hargrave.
Paid subscribers get full access to our top crypto picks; both free and paid subscribers get content to build them into better investors.
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