It’s the Institutions, Stupid! – LBX
WHAT DO YOU CONSIDER YOUR COMPETITION?
This is the first properly constructed Bitcoin bond that people can buy, so the main competition is really bitcoin holders not doing anything at all and leaving the bitcoin in their wallets! Having said that, there are a few other products that look similar, for example fiat bonds that settle in bitcoin, or unsecured bitcoin loans to some of the exchanges
LBX with Argento Access offer the first-ever Bitcoin-denominated bond to have been allocated an ISIN. Want to grow your BTC without trading? Earn a passive income on your BTC while you HODL and without exposure to fiat.
CLAIM YOUR DOUBLE FIRST COUPON
Lots of facial recognition tech in the news this week. You can now avoid detection by wearing these clothes, you will look like a walking number plate, but no one will know who you are. In further suspicious news, this American judgeconfirms certain voting machines are not fit for purpose, but says you can still use them anyway. And finally, do you keep losing money by buying shares in the wrong Ford, always double check the ticker!
WHY IS BAKKT REALLY BULLISH FOR BITCOIN?
Bitcoin has jumped 10% since yesterday’s bottom and now this weekend’s test lies another thousand dollars ahead — at $11.5k. What to expect for the next days then? To begin, Bakkt has finally announced it’s cleared to launch. The mythical Bitcoin futures platform — backed by the owner of the NYSE in partnership with Microsoft, Starbucks, and other popular companies — will finally come online this September 23rd. The move, announced at 4:12pm BST, caused a 4% pop!
While last October, when Bakkt first announced it would launch on December 2018, the market was comatose; this time — apart from the typical summer bore — things are very different. Why? Because 2019 made clear there’s institutional demand for BTC. But many institutions still can’t navigate the difficult regulations concerning cryptoasset exposure. As Jake Chervinksy explains, Bakkt solves this due to its massive reputation and compliant status.
Moreover, as Frank Chaparro argues, Bakkt is more than a futures exchange — it’s a custodian. While many believe the fact its futures are physically-settled is the key bullish factor here — because the platform has to hold and deliver the BTC being traded, instead of just being hedged in regard to the underlying asset — it’s not. Instead, as Macroscope speculates, this custody element is what will contribute to further reduce actively circulated BTCs in the long-term. However, as for the short-term, Yang Ventures notes Wall Street might take the chance to short the original cryptoasset one more time. But do you believe that?
DON’T LEAVE FOR THE WEEKEND WHAT YOU SHOULD READ TODAY
▪ Tom Shaughnessy’s latest podcast episode is a must for the weekend. Listen to Hasu and Ryan Sean Adams healthily debate Bitcoin vs. Ethereum here.
▪ Parker Lewis’ latest post from the great “gradually, then suddenly” series is a must for the weekend. Read why “Bitcoin doesn’t waste energy” here.
▪ Preethi Kasireddy latest thread about Bitcoin’s wealth concentration debate is a must for the weekend. The debate isn’t easy, but the questions can’t be ignored. So learn more about both sides here.
IT SEEMS ALTS ARE NOT BACK
“There’s a fine line between deep conviction based on reasoned thinking and blind devotion based on cult-like tribalism. If you love a cryptocurrency so much that you’d never change your mind no matter the evidence, you’ve crossed that line.
The time to return to reason is now.”
– By Jake Chervinsky
Published at Sat, 17 Aug 2019 13:40:03 +0000
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