To participate, people had to have at least US$100,000 in investable assets. And, on average, these investors had saved around 16.6% of their annual income for retirement.
But what if the price of bitcoin plunges overnight and the $100 of bitcoin the business accepted yesterday is only worth $50 today?
Bitcoin and cryptos have proved extremely valuable if you are into ransomware, running pump-and-dump schemes, or in the business of promoting UNstablecoins.
The market in general is now much more bullish than it was at the start of the year. There is very little ‘value’ to be found.
The thing to keep in mind with bitcoin is that it’s not always about the token’s value (the bitcoin price). That, viewed in isolation, is practically useless.
While everyone marvels at the size of the Fed’s balance sheet and the ‘money printing’ that led to its expansion, there is less focus on the velocity of money.
Governments and central banks will not tolerate private crypto money to run in parallel with the system they control.
This new business idea is designed to capitalise on what everyone knows is an inevitable trend towards decentralised finance…or, as we in the industry call it…DeFi.
The crypto sector has lost about US$1.3 trillion since the beginning of May. Bitcoin itself has been cut in half.But both colleagues and dear readers insist that the crypto class still has value…