President Biden signed a $1.2 trillion spending package for the government budget, providing enough funds to cover expenses until October. 🖨️💵💵💵 #PrintMoney
MicroStrategy has officially announced the issuance of $525 million in bonds.
They are determined to take all of your Bitcoins.
One thing you may not know is that MicroStrategy's bonds have an interest rate of only 0.875% and will mature in 2031, almost like interest-free debt... So why would an investor buy MicroStrategy's bonds with such a low interest rate when government bond yields are around 5%? The reason is that they can convert these bonds into stocks in 2030, based on the provisions in the contract.
In other words, if Michael Saylor is right, MicroStrategy's stocks will be very valuable. If not, they can still recover their capital. What Michael Saylor is doing is using that money to buy Bitcoin.#MiscroStrategy #BTC
JPMorgan: Bitcoin Surpasses Gold as Investors' Portfolio Allocation Choice.
According to JPMorgan, given the recent influx of funds into Bitcoin ETF compared to gold ETF, the allocation towards Bitcoin is more than 3.7 times greater than that towards gold. #BTC #GoldETFs #JP_Morgan
🔥 U.S. Senators Jack Reed and Laphonza Butler have sent a recommendation letter to the SEC, urging them not to approve any further crypto ETF funds and to conduct investigations into companies promoting Bitcoin ETF funds.
😆 The anti-Bitcoin crowd and haters are crying even louder as they witness Bitcoin's continuous price surges.
During the growth phase of 2021, when prices were rising, the number of BTC deposited into exchanges also increased (shown in green 🟢). However, in this current phase, despite the price increase, Bitcoin digital currency is continuously leaving exchanges (indicated by red color 🔴).
Grayscale has filed an application to launch the Grayscale Bitcoin Mini Trust with the ticker symbol "BTC" (James Seyffart - Bloomberg).
- What does this mean?
They will split the GTBC fund into two parts, with one part transitioning to the new fund with the ticker symbol "BTC," while the remaining part will continue as "GBTC."
The part transitioning to the new fund is likely to have lower fees, catering to long-term HODLers who do not require high liquidity. However, they have not specified the exact percentage for that part.
- Why are they using the ticker symbol "BTC"?
Grayscale acquired the rights from Clearshares, which was the first company to use the ticker symbol "BTC." Having the "BTC" ticker symbol is a significant advantage for Grayscale as investors typically search for "BTC" on stock trading platforms.
- Why do they want to split into two instead of reducing fees? Wouldn't it be simpler that way?
It is possible that they have contracts with certain organizations that are currently using GBTC. These organizations might accept higher fees rather than canceling their contracts. Therefore, they will continue to charge high fees for those funds, while the remaining portion will transition to the new fund. #BTC #GBTC(Grayscale) #ETFMARKET #Write2Earn
They still hold a significant amount, totaling 388,925 BTC, which is more than the current combined figure of BlackRock + Fidelity. However, on a daily basis, some BTC leaves Grayscale and flows into other funds, and over time, BlackRock could become the largest Bitcoin ETF fund.
As of now, those who really wanted to sell, such as FTX, DCG, and Genesis, have sold off, and those who dislike the high fees of GBTC (1.5%) may have switched to other funds in the past two months. So, who is still selling? 🤔
Looking at the money flow history over the past two months, it is evident that, except for a few exceptional cases, when Grayscale sells more, BlackRock and Fidelity receive more. Although there is no detailed data on the money flow between the funds, it is possible that money from GBTC is flowing into BlackRock and Fidelity. It is assumed that the directors of BlackRock and Fidelity have reached out to the organizations holding GBTC and persuaded them to switch to their funds.
Why does Grayscale still maintain a high fee of 1.5% per year, while other funds charge only ~0.25%?
The CEO of Grayscale stated that they have managed a large amount of BTC, while new funds have to start from scratch. Therefore, they can take advantage of this time to charge a high fee for a large quantity, even though they know this could lead to investors gradually leaving their fund. Additionally, they also mentioned that they have contracts with certain companies, so not everyone who wants to sell GBTC can easily do so at this moment.
Bloomberg - Eric Balchunas: The Bitcoin ETF (represented by the blue color 🔵) is expected to surpass the gold ETF in a matter of months. However, if it aims to outperform ETFs like SPX, it will take much longer, even though technology-related ETFs have already gained significant traction.
If the Bitcoin ETF surpasses the gold ETF, it will also mean surpassing real estate ETFs and becoming the largest commodity ETF in the world 🌍. #HotTrends #BTC #ETFMARKET #Bloomberg
When it comes to long-term cryptocurrency #investing, here are ten tips to consider:Do thorough research: Before investing in any cryptocurrency, make sure to research and understand its underlying technology, use cases, team, and market potential. Look for projects with strong fundamentals and long-term viability.Diversify your portfolio: Spread your investments across different cryptocurrencies to reduce risk. Diversification allows you to mitigate the impact of potential losses from any single asset.Invest in established projects: While new cryptocurrencies may have high growth potential, it's generally safer to invest in established projects with a track record of success and a strong community.Consider market capitalization: Market capitalization reflects the size and stability of a cryptocurrency. Larger market cap coins tend to be less volatile and have a higher likelihood of long-term success.Keep an eye on the team and community: A strong development team and an active community are indicators of a healthy project. Stay updated on the team's progress, community engagement, and any upcoming developments.Have a long-term perspective: Cryptocurrency markets can be highly volatile, and prices can fluctuate dramatically in the short term. Adopt a long-term perspective and avoid making impulsive decisions based on short-term price movements.Set realistic expectations: While the potential for significant gains exists in the crypto market, it's important to set realistic expectations. Don't invest more than you can afford to lose, and be prepared for market downturns.Stay updated on market trends: Stay informed about the latest trends, news, and regulatory developments in the cryptocurrency space. This will help you make informed decisions and adapt your investment strategy accordingly.Use secure wallets and exchanges: Ensure that you use reputable and secure wallets and exchanges to store and trade your cryptocurrencies. Protecting your assets from hacks and theft is crucial for long-term holdingRegularly review and rebalance your portfolio: Periodically review your portfolio to assess its performance and make necessary adjustments. Rebalance your holdings based on changing market conditions and your investment goals.Remember, investing in cryptocurrencies carries risks, and it's essential to do your own due diligence and consult with a financial advisor before making any investment decisions.$BTC $ETH $BNB #TipsForBeginners
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