Breaking: MicroStrategy has purchased 2911.4 ethereums for ~$10.0 million at an average price of $3,435.66 per #ethereum. As of 4/01/24
Michael Saylor "I have found the second best."
Another 570 million dollars of inflow into Bitcoin ETFs yesterday !
Second day in a row where Wall Street bought 10 times more coins than miners produced in a day!
Is anyone else seeing this or I am on crazy pills?
These numbers are shocking.
Bitcoin halving in 50 days
Five bank failures in less than a month.
- Silvergate
- Silicon Valley Bank
- Signature Bank
- First Republic.
- Credit Suisse
Now Deutsche Bank is wobbling.
Probably nothing.
#bitcoin has no policy change. Still 21m max supply. Stable mathematically.
What's not stable is its price, that's market/demand driven. It's a feature.
Watching Bitcoin absolutely send during a banking crisis after regulators tried to cut off the industry has to be one of the most satisfying moments ever
Circle/Paxos/Tether: “we’re going to hold collateral mostly in cash and T-bills.”
Nothing happens.
Government: “CRYPTO IS SUPER RISKY.”
Banks: “we’re going to hold collateral mostly in longer-dated TradFi bonds.”
Banks fail.
Government: “SEE, CRYPTO IS SUPER RISKY.”
Bankers often say, “#Bitcoin is not backed by anything.”
That is the entire point.
No backing supports the security of the network in that it can’t be captured, stopped, or corrupted by any government, corporation, or individual.
Everyone wanted Tesla at $300, Netflix at $500, Microsoft at $300, and Bitcoin at $50,000
But they don’t want Tesla at $150, Netflix at $175, Microsoft at $200, and Bitcoin at $25,000
The psychology of investing is wild
#ethereum is deflationary, provides high yields, has no sell pressure from miners anymore, is 99% more energy efficient and has a thriving layer two scene as well as massive dev activity… all in a bear market.
In summary, no one has enough ETH.