Bit Dawg is barking loud to bullish Bitcoin investors. Bit Dawg is licking them on their face! BIG Dawgs are steadily warming to Bitcoin. As you know, Bit Dawg LOVES Bitcoins. They are the best chewy bones ever! HOWEVER, now the BIG Dawgs want some of Bit Dawg’s Bitcoins.
1. VISA: Consumers can currently load their Bitcoin and fiat currency on different value levels of Coin Zoom VISA debit cards, allowing you to spend your Bitcoin at over 53 million merchants. Recently, VISA and BlockFi announced a NEW VISA credit card that rewards users with 1.5 percent “Bitcoin back.” The card does have a 200 dollar annual fee. However, Bit Dawg is considering it. Bit Dawg would much rather get Bitcoin back than cash.
2. Black Rock: Larry Finke, the CEO of Black Rock, an enormous financial institution by assets under management, said that Bitcoin could mature to a global market asset. This is huge because Black Rock is an enormous money manager. Although Bit Dawg is happy when BIG Dawgs like Larry Fink promote Bitcoin, Bit Dawg did look a little perplexed at this statement. Big Dawg says isn’t Bitcoin already a global market asset? Bitcoin’s market capitalization IS DOUBLE that of Goldman Sachs.
3. MicroStrategy: MicroStrategy (MSTR) just reported that it bought 175 million dollars’ worth of Bitcoin and now holds 425 million dollars’ worth.
4. Square (SQ) announced that it bought 50 million dollars worth of Bitcoin in October. Additionally, Square allows customers to buy Bitcoin on its Cash App.
5. PayPal allows customers to buy and store Bitcoin as well as use it at PayPal vendors.
6. Guggenheim Partners recently filed notice with the Security Exchange Commission of its intent to potentially purchase up to 500 million dollars’ worth of Grayscale Bitcoin Investment Trust (GBTC), which buys, stores, and audits for investors.
In Bit Dawg’s humble opinion, this is just the beginning of the arrival of the BIG Dawgs.
Plan B’s Stock to Flow(S2F) chart has been absolutely money. Bit Dawg envisions approval of an Exchange Traded Fund (ETF) for Bitcoin and Bitcoin moving towards the 6 digits in accordance with Plan B’s incredibly historically accurate S2F model for valuing Bitcoin. Bit Dawg is howlin’ at the moon!
