"If you deeply observe, everything is your teacher." -Unknown
Happy Saturday! Let's get after it...
My Hot Take!
The biggest article of the week for me was the Staple Center getting renamed to Cryptocom Arena. Yes the folks who hold the current name near and dear because it's been that for nearly 2 decades, times are changing and Crypto is the new kid on the block.
Taproot is now activated and while it doesn't actually make smart contracts possible on Bitcoin, it does create the ability to make transactions less expensive and more private. As with all upgrades, you get incrementally better functionality overtime.
Yes the market is down but here is the thing, if you've around for even a few years you will know this is par for the course. And it's times like this where you think all is lost that Bitcoin does the unthinkable so when you read the analysis below - look out!
For the Podcast of the Week, The Wolf of All Steets because it was a great conversation with the CEO of Paxos and I too believe all money is heading toward Bitcoin. In fact, I stole from MLK jr and say: "The arc of the financial universe is long and it bends toward Bitcoin."
Well that's a wrapped burrito. Exercise patient and try not to get wrapped up in the day to day drama in the space. Zoom out. Remain focused, Stack Sats, stay STRONG, and HODL on!
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GET INTO THE WEEDS!
Price: One week ago, Bitcoin was $63,560.96 and now it is $58,448.96. PlanB has tripled down on Bitcoin reaching $98K by the end of the month which is just 10 days away. I don't believe I've ever seen Bitcoin move $40K in 10 days but buckle up because we might experience something we've never experienced before. Dr. Jeff Ross believes the local bottom is in and it's time to rise - the Bollinger Bands are tight once again.
Altcoins: Best performing top 10 Altcoin for the past week is ADA; it is down -5.54%. Runner up is BNB; up +4.20%.
Follow Dat Money: I am speechless! And that’s saying something.
While the lower tiers declined, the high-tier funding rocked the party this week. In fact, the funding that was raised by OpenSeas was not disclosed but if it is now valued at $10B. The funding round had to be north of $500MM beating out Marathon who raised $500MM to buy Bitcoin and mining machines. Mind you, the lion’s share of the funds this week is attributed to the fund that was launched by Paradigm at a whopping $2.5B.
Monday: Bitcoin’s Taproot Upgrade is Finally Here: Went Live Successfully
Tuesday: Crypto Markets Dump $200 Billion as Correction Deepens
Wednesday: LA Lakers’ Home Staples Center Renamed to CryptoCom Arena in a $700M Deal
Thursday: Was the first reply to the Bitcoin White Paper Satoshi himself? In-depth theory
Friday: Crypto Black Friday – Bitcoin Dipped to $55K, Market Discounted $400B Weekly (Market Watch)
PODCASTS OF THE WEEK
Bankless: 92 - The Fight for the Future of Money | CryptoDad Chris Giancarlo
The Wolf of All Streets: All Money Is Coming To Crypto | Charles Cascarilla, CEO Of Paxos
Bitcoin Fundamentals: BTC052: A Hyper-Bitcoinized World w/ Jeff Booth
On The Margin: Distrust In Banks And Bitcoin Worldwide Adoption | Emil Kalinowski & Jeff Snider
The Scoop: Mastercard EVP Jess Turner on becoming a 'Crypto first' company
- Price of Bitcoin: 8.69% (week) | Dominance: 42.3% | MC: $2.6T
- Mayer Multiple: 1.26 (.14)
- Nodes: 12751
- Github: 31,748 (95) Commits | 832 (+2) Contributors