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June 17, 2020 | Issue #122

 MUST READS 

6 Reasons Why 2020 Has Been a Bad Year for Bitcoin...


Bloomberg’s editor, Joe Weisenthal, has shared six reasons why he thinks 2020 has been a bad year for Bitcoin...

Read Joe's hot-take here.

The best reactions so far?
  • Ryan Selkis refuting each point Joe wrote, while reminding everyone why we truly hedge our portfolios
     
  • Nathaniel Whittemore, giving us 6 legitimate reasons why 2020 has, in fact, been a GREAT year for BTC

Coinbase Considers Adding 18 New Coins...


Last week, Coinbase announced that they are exploring the addition of a range of new assets. Find the list here.

To no surprise, the "Coinbase effect" quickly took place... On the following day of the announcement, 7 of the 8 top gainers (24h) on OnChainFx were on Coinbase's list.
 

Bitcoin is Antifragile


Bitcoin benefits from disorder, stress, volatility, and randomness. What doesn't kill Bitcoin only makes it stronger.
 

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Under-exposed in Real Estate? Do This.


Despite all the media hysteria of the pandemic and riots, home-buying is soaring in America right now. In fact, according to Redfin, “demand is more than 25% higher than pre-pandemic levels.”

But as with any asset, there's a right way and a wrong way to make money in real estate.

So before you run out and try to flip a home... buy a rental property... invest in an apartment complex... or play real estate through the stock market, we strongly recommend you tune in to Dr. Steve Sjuggerud’s free real estate investing presentation on June 24th.

Steve and several experts from around the world will show you what's going on right now... why real estate deserves a prominent spot in your portfolio... and the No. 1 way to get started in real estate today.

 DEEP DIVE 

The 2020 Crypto Investor Landscape


While it's been a relatively quiet week in crypto, the past few months have undoubtedly been chaotic. Here's a couple recently published deep-dives breaking down the 2020 crypto investment landscape and key trends since the March 12th crash:

Chinese Capital-Flight Leans on Stablecoins


Over the past decades, Asia has accounted for almost 40% of the global billionaire population, with China creating two new billionaires every week. But in the midst of capital controls and anti-corruption campaigns, there has been an increasing desire from less-wealthy Chinese individuals to move their capital out of China, particularly to Singapore.

Interestingly, Bitcoin has not been the first cryptoasset of choice due to market volatility. Rather, USD-pegged stablecoins are being used to avoid price fluctuations over the short and medium terms. According to QCP Capital, Hong-Kong-based investors are using predominantly Tether.
 

Estimated Cost Basis Across Cryptoassets


According to Messari, the estimated cost basis (the original price that an asset was acquired) for the entire Bitcoin network averaged in just under $6,000.

Other key findings:
  • BitcoinSV (BSV) has the highest aggregate profit
     
  • Most XRP investors are deeply in the red

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 REGULATORY FRONT 

Ponzi, Ponzi, Ponzi...


Another week, another Ponzi scheme getting caught. Except, this week, there was A LOT:
  • Police arrest alleged mastermind of $722 million Bitcoin Ponzi scheme
     
  • $25 million ICO backed by Floyd Mayweather was a fraud, founder admits
     
  • A $40 million crime ring in South Korea
     
  • Remember QuadrigaCX? (the exchange that went into bankruptcy a few months after founder and CEO went missing) Yep, another ponzi, according to the Ontario Securities Commission last Thursday.

Related: Coinsquare CEO allegedly forced employees to fake exchange volume.
 

South Korea's Central Bank Forms Team to Research Digital Currency


The central bank of South Korea on Monday officially formed a legal advisory group to research digital currency.

This news follows other central banks around the world exploring digital currency options such as France, China, the U.S. and Cambodia.
 

 TWEET OF THE WEEK 

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The CoinSnacks weekly digest is a manually curated newsletter that delivers fresh content covering cryptoassets and the evolving blockchain community for investors around the world. The digest is curated by CoinSnacks employees and sent once a week.
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