December 2, 2020 | Issue #146
Editor's Note: After nearly three years of waiting, investors can finally celebrate as BTC finally hit a new all-time high earlier this week. Congrats to those who have survived a full market cycle and a special thanks to all our readers who've been with us throughout the years.


Visa Partners With Ethereum Digital-Dollar Startup That Raised $271 Million

Four years ago, it was crypto companies vs. Visa... today, it's crypto companies partnering with Visa.

Visa is opening up its network to USDC, a digital dollar created by Circle Internet Financial and issued on the public Ethereum blockchain.

It means 60m merchants get the ability to accept and pay cryptodollars settled on Ethereum. It means Visa is starting to swap-out traditional bank ledgers for the global Ethereum ledger. And it means Visa is essentially using Ethereum to bypass banks. h/t @RyanSAdams

Related: Visa, Blockfi Launching Credit Card With Bitcoin Rewards

Spend dollars, earn rewards in BTC. Rewards back are 1.5% of fiat purchases, and the Bitcoin users receive is deposited into their BlockFi accounts. The annual fee for the card is $200. For the first year, BlockFi is giving users who spend at least $3,000 on the card in the first three months a stipend of $250.

Institutional Adoption Roundup

Four years ago, many institutional investors thought Bitcoin was a scam ⚠️... Today, money managers see a role for BTC in their portfolios 📈... Just take a look at all that happened within the past week:
  • Co-head of portfolio strategy at AllianceBernstein (a global investment manager with $631 billion AUM) says the significant reduction in the volatility of BTCs price makes it more attractive both as a store of value and as a medium of exchange.
  • Larry Fink, CEO of Blackrock (the world's largest asset manager, with over $7 trillion AUM) updated his stance on Bitcoin yesterday, now acknowledging its potential global relevance.
  • Guggenheim Partners, the $295 billion asset manager, could be the latest Wall Street firm to allocate capital to invest in Bitcoin, as per a recent filing.

Bitcoin Is Winning the Monetary Revolution

A fascinating look from Niall Ferguson, one of the world's most renowned historians on how today's pandemic is changing the future of currency.

Grayscale Splits Ethereum Stock Worth $1.6 Billion, Reducing Stock Price

On December 14, Grayscale will split the shares of the Trust (ETHE), which holds $1.6 billion AUM, by 9 to 1. Anyone who currently owns shares in Grayscale will receive 8 extra shares.

This will collapse the price of each share but makes no difference to the overall value of the fund or your investment.

The number one reason for a stock split is to make the share price more affordable. Given the fact that shares managed to 10x in 2020, this is a big indicator for ETHs price expectancy going into 2021.


A Brand New Crypto Project

One company has formed the world’s first Crypto Investor Network research service.

If you want to learn more about what they're calling the "bitcoin awakening," as well as the four altcoins that they think are screaming buys right now – click here now.

 DEEP DIVE and Acquired by Chain Capital Holdings Ltd

A company registered under the name, Chain Capital Holdings Ltd, has acquired the ultra-premium domains and is describing itself as a decentralized and permissionless protocol for digital asset interoperability. There is no team listed, so as of today we aren't sure who is behind the new company.

Astute readers may remember that a company using the same domain was previously acquired in September, 2018 by Stellar for $500 million paid in Lumens (XLM). At the time, Chain had raised more than $43 million and XLM was the 7th largest crypto asset (now 11th).

It’s Time To Join The Bitcoin Circular Economy

In this article, Ragnar Lifthrasir of Bitcoin Magazine attempts to define the Bitcoin circular economy, provide examples and describe its benefits. Most importantly, he gives advice on how to get started.

"A Bitcoin circular economy is one where commerce flourishes free of surveillance, censorship and reliance on third parties."

Signs of Institutional Investors

Over the past few weeks, Ari Paul, Luke Martin, and other commentators have noted that Bitcoin’s upward price movements since late October have mostly happened during US market hours, when the traditional equity markets were open.

This potentially suggests that price rises are being driven by a new wave of institutional buyers who are active during the day and relatively inactive on nights and weekends.

CoinMetrics examined this theory using their hourly reference rates to get a more granular look at BTC price action during US market hours.


An Arsonist is Back to Restore the American Dream by Turning it Into a Woke Nightmare

Do we really trust the arsonists who started the fires raging throughout our society to put them out?

If these individuals have been so abysmally wrong in the past, why the hell do we continue to cede control to them?

Libra Rebrands to 'Diem' in Bid to Shake Off the Negative First Impression of Regulators

The Facebook-backed Libra Association is shaking up its mission — and it's got a new name to go along with it.

Libra, which first began as a project from Facebook, turned the heads of policymakers and regulators around the world when it launched in the summer of 2019. But the view among regulators were broadly negative, prompting questions from members of Congress as well as central banks.

The name switch to Diem is part of a move to emphasise a simpler, revamped structure and to emphasize its independence from Facebook.


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