From Naysayer to $425 Million Purchase

“There are 3500 publicly traded companies and there’s $5T in their treasuries and it’s all melting. At some point, you have a fiduciary obligation to not lose the money. It used to be acceptable to be conservative but that was before the asset inflation rate went from 6% to 30%” ~ Micheal Saylor

There is a generational wealth storage shift, with or without you and me.

How so? Read one of the recent news as mere illustration of gold’s safety concern: Armed robbers hijack pickup truck carrying gold on KL highway

The post Microstrategy’s BTC Bet appeared first on Blockchain Insider.

• Macro Strategist Raoul Pal Moves More Than 50% of Portfolio to Bitcoin in Big Bet on Future of Crypto
• MicroStrategy Board makes Bitcoin its primary reserve currency, may increase its holdings beyond $250M
• Bitcoin market cap will match JPMorgan’s if the $16.5K CME gap closes
• Mad Money host Jim Cramer forecasts a generational wealth storage shift
• BNP Paribas connects to major stock exchanges with DAML smart contracts

Disclaimer: NOT INVESTMENT ADVICE

Reading Notes

Macro Strategist Raoul Pal Moves More Than 50% of Portfolio to Bitcoin in Big Bet on Future of Crypto

We are all 100% aware of the downside risk in a 60 vol asset… this is not a trade for a great grandmother. I just want to be clear, with regards to being irresponsibly long bitcoin: I don’t use leverage. I fully expect to have to deal with a 50% drawdown and, I’m ok with it. I look at my allocation versus liquid assets and not my house etc. I am lucky to have an income stream, which is key. ~ Global Macro Investor founder and chief executive Raoul Pal, who is betting big on the future of digital currencies.

https://dailyhodl.com/2020/09/14/macro-strategist-raoul-pal-moves-more-than-50-of-portfolio-to-bitcoin-in-big-bet-on-future-of-crypto/

MicroStrategy Board makes Bitcoin its primary reserve currency, may increase its holdings beyond $250M

MicroStrategy has outperformed the Nasdaq since buying BTC. Now, it’s doubling down.

The move – Microstrategy’s Bitcoin investment – has already caused a slew of copycats, with smaller companies of every shape making similar announcements.

• It should be noted that MicroStrategy sold a domain to Block.one in 2019 for $30 million.
• Perhaps this gave the company’s leadership an appreciation of the value of cryptocurrency.
• Some of the world’s biggest institutional investors have a stake in the company.
• This may demonstrate how much more acceptable Bitcoin has become on Wall Street in the past few years.

https://cointelegraph.com/news/microstrategy-board-makes-bitcoin-its-primary-reserve-currency-may-increase-its-holdings-beyond-250m

Bitcoin market cap will match JPMorgan’s if the $16.5K CME gap closes

“As it turns out, bitcoin is better at being gold than gold — and not just incrementally, but by an order of magnitude or 10X better. It is a widely held belief in technology circles that when a product is 10X better than its closest substitute, it will escape its competition. We believe Bitcoin has achieved this.”

At $16,500, Bitcoin’s market cap would match that of JPMorgan, illustrating just how early the crypto sector is in its growth phase.

#Bitcoin‘s price if it reaches this market cap:

$16‘500 JP Morgan
$23‘000 Visa
$40‘300 Facebook
$106‘000 Apple
$487‘000 Gold

Lets go!

— MMCrypto (@MMcrypto) September 10, 2020

https://cointelegraph.com/news/bitcoin-market-cap-will-match-jpmorgans-if-the-165k-cme-gap-closes

The Future of Smart Contract

BNP Paribas connects to major stock exchanges with DAML smart contracts

In 2019, the ASX and Digital Asset signed a Memorandum of Understanding stating that the stock exchange will support DAML as part of its CHESS blockchain registry. As reported, ASX’s CHESS system is coming in 2021.

Introduced in April 2016, DAML stands for Digital Asset Modeling Language and represents an expressive language designed for financial institutions to model and execute agreements through DLT and smart contracts.

The new DAML-driven apps will connect BNP Paribas Securities Services with major global stock exchanges like the Australian Securities Exchange, or ASX, and the Hong Kong Exchange, or HKEX.

The apps will provide market participants in the Asia Pacific with real-time access to ASX’s and HKEX’s upcoming blockchain-based trading and settlement platforms. BNP Paribas will specifically connect to the ASX’s blockchain-powered equity transaction platform known as the Clearing House Electronic Subregister System, or CHESS.

https://cointelegraph.com/news/bnp-paribas-connects-to-major-stock-exchanges-with-daml-smart-contracts

Mad Money host Jim Cramer forecasts a generational wealth storage shift

When I go to my inflation handbook, what it says is buy gold, buy masterpieces and buy mansions, what we didn’t have in that menu, was crypto. ~ Jim Cramer, host of the popular CNBC mainstream markets show, Mad Money.

https://cointelegraph.com/news/mad-money-host-jim-cramer-forecasts-a-generational-wealth-storage-shift

The post A Generational Wealth Storage Shift appeared first on Blockchain Insider.

1) MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset

2) Facebook is reportedly expanding its banking ambitions with a new division that will run all of the tech giant’s payment projects, including Facebook Pay

3) The Great Chinese Money Experiment Is Over

Reading Notes

MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset

MicroStrategy® Incorporated (Nasdaq: MSTR),
the largest independent
publicly-traded
business intelligence company,

today announced that
it has purchased 21,454 bitcoins
at an aggregate
purchase price of $250 million,
inclusive of fees and expenses.

The purchase of
Bitcoin cryptocurrency
was made pursuant to
the two-pronged capital allocation strategy
previously announced by
the company
when it released
its second quarter 2020
financial results
on July 28, 2020.

https://www.businesswire.com/news/home/20200811005331/en/MicroStrategy-Adopts-Bitcoin-Primary-Treasury-Reserve-Asset

Facebook is reportedly expanding its banking ambitions with a new division that will run all of the tech giant’s payment projects, including Facebook Pay

According to a Bloomberg report, the new program will be called Facebook Financial, or F2, and will be run by David Marcus, the cocreator of the firm’s Libra cryptocurrency project.

The new group is one of the company’s latest efforts as part of its broader foray into commerce and finance.

Facebook Financial – or F2 – will oversee all of the tech giant’s payments projects, including Facebook Pay, the service launched in 2019 that allows users to send and receive money on Facebook, WhatsApp, Instagram, and Messenger.

https://www.businessinsider.com/facebook-financial-new-payments-group-2020-8

The Great Chinese Money Experiment Is Over

I’m fascinated that
China’s long experiment with
atoms about atoms
is almost over and
will soon be replaced by
bits about bits.

This will come about
not because of
Bitcoin or Libra,
Unionpay or PayPal,
but because the PBOC has been

strategic in its thinking and
tactical in its governance.

Their decisions on the topic
for many years
have been measured and consistent.

Digital currency is coming,
and China will take the lead
in digital currency
just as it did
in paper currency.

~ David G.W. Birch, Forbes, Fintech

https://www.forbes.com/sites/davidbirch/2020/08/09/the-great-money-experiment-is-over/#270823397a90

The post ROTD: Microstrategy Bitcoin Investment, Facebook Finance, Chinese Paper Money appeared first on Blockchain Insider.