MicroStrategy Buys over $1 Billion BTC
Microstrategy has bought more than $1 billion BTC. They bought 19,452 Bitcoins for an average price of $52,765 per bitcoin. They now have 90,531 Bitcoins at an average price of $23,985.
Square Buys $170 Million BTC
Square bought 3,318 more bitcoins for a total of $170 million. This follows a previous purchase and recent purchases by Microstrategy and Tesla.
Crypto, Tech, Tesla, Etc Curve Down as Rotation Fears Loom
Microstrategy bought, Tesla bought, and we rallied. ETH fees were high, funding was high, longs go squeezed, NASDAQ went down, the yield curve went up, and we crashed.
Robinhood Plans to Offer Send/Receive Function for Crypto
Robinhood clarified in a Tweet yesterday that they intend to offer a more complete crypto experience by offering send/receive functions for their cryptocurrency customers.
ETCG is Flirting with a Negative Premium
ETCG is currently trading at or near a negative premium. This is far from the norm for Grayscale products.
ETH2 Staking is Coming to Coinbase
Coinbase is going to allow staking on ETH2. This is a big deal, as you’ll be able to lock up your ETH and take it on Coinbase for up to 7.5% APR.
Telsa Coverts 10% of its Balance Sheet to Bitcoin
Tesla converted about 10% of its balance sheet to Bitcoin last week, spending a total of $1.5 billion of its roughly $19 billion in cash holdings on Bitcoin.
Historic Doge Bubbles Have Popped Quickly (is this Time Different)?
Dogecoin has bubbled and busted against Bitcoin many times in the past. Thus history suggests the current Doge bubble will pop quickly as well.
ETH Makes New All Time Highs as CME Futures Loom (Feb 8th)
ETH is making new all-time highs and ETH-based coins (like DeFi coins) are running. This bullish price action into CME futures on Feb 8th is exciting. However, it is a bit scary as well since CME futures for BTC marked the top of the 2017 bubble.
Coinbase is Going to Go Public Via Direct Listing
Coinbase is forgoing an IPO and will go public via direct listing when it launches. The expected price is $200, putting it at about a $75 billion market cap.