Consideration turns to Bitcoin as America places up a brand new all-time excessive for nationwide debt, MicroStrategy Billionaire Michael Saylor claps again in a debate about Bitcoin’s Lightning Community and is Coinbase stepping into the derivatives market? Stick round to the tip to search out out! My identify is Aj, that is your nightly crypto information wrap up, LET’S GET IT!

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Bitcoin > USD

Usually after we discuss new all-time highs, it is a good factor…however in the present day, I am sorry, however that is not the case. As of yesterday, America’s nationwide debt has exceeded $31 trillion {dollars} for the primary time in historical past. Additionally, as you realize, the FED has been mountaineering up the rates of interest to battle the inflation difficulty. It is a horrible mixture and we’re about to see how sharp this double-edged sword actually is…as a result of now, it’ll value that rather more to pay all of it again. The Peterson Basis estimates that the “greater charges may add a further $1 trillion {dollars} to what the federal authorities spends on curiosity this decade.” Oh, and that is on prime of that 8 trillion we already racked up since 2020. That is what I wish to refer as a slippery slope and it actually should not be a shock to anybody that this is without doubt one of the MANY the reason why SO many individuals are bullish on Bitcoin. As the worth and that means of the US greenback hangs within the steadiness, Bitcoin accumulation simply hit a seven yr excessive. As you see on this chart, these numbers line up with the identical backside indicators we noticed in 2015 AND in 2019. So, given the macro, I am not gunna sit right here and say the underside is in, as a result of it very effectively not is likely to be…however my level is that this: over time, when politicians all over the world are confronted with large monetary selections, greed appears to win each time. On the flipside, whales are shopping for bitcoin in droves and retail is catching on too. Within the final yr alone, the variety of Bitcoin holders has grown by 4.5 million individuals. In 70 some years, when our grandkids learn the historical past books, will they be taught that THIS is the cut-off date when crypto started to utterly change the failed legacy system? I certain hope so! However till then, let’s benefit from the journey! Let’s move it to our man, Frankie Candles for a Market Watch!

Saylor Claps Again

Thanks Frank! Ya know, in life, it is actually necessary to select your battles. For instance, MicroStrategey’s govt chairman Michael Saylor, aka the favored billionaire investor who stepped down as CEO to concentrate on Bitcoin MORE…effectively, he isn’t precisely the man you need to name out. Saylor is just like the sprained ankle of crypto, and Eric Wall, the CIO of Arcane Belongings, thought it might be a good suggestion to troll Saylor on Twitter for not utilizing Bitcoin’s Lightening community greater than 3 instances. What a frivolous factor to name somebody out on…wow..oh, and if you do not know, the lighting community is a principally second layer for Bitcoin that helps scale micropayments. Anyway, Saylor clapped again and stated, sure, he has used the lightning community greater than thrice. Additionally, in traditional Saylor style, he held a MEME contest on the matter, and the highest three members that get probably the most likes on their MEMEs will obtain a million Satoshi’s from Saylor despatched through the lightning community. Despite the fact that one million satoishi’s is barely like 200 bucks, everybody received a kick out of it, and I actually hope this one wins! (Snicker clip for transition)

Is Coinbase Entering into Derivatives?

Ya know, I feel Coinbase is a superb place for brand spanking new customers to get their ft moist, however when you’re within the sport for lengthy sufficient, you hit a wall as a result of you possibly can solely accomplish that a lot on their platform. With the ability to purchase and maintain is all good and effectively, however in case you solely generate profits when the market goes up, you are lacking half the chance. You want to have the ability to go lengthy AND quick… and add leverage as soon as you realize what you are doing. Fortunate for us, it looks as if Coinbase is making strikes to get into the derivatives market! Earlier this yr, Coinbase acquired Truthful-X, which is a CFTC regulated derivatives alternate. Extra just lately, they employed a former Goldman Sachs spinoff govt, Usman Naeem. He’s now their new international head of spinoff gross sales and company buying and selling at their workplace in London. Fingers crossed that this turns into part of a bigger push to get spinoff buying and selling utterly legitimized…and I hope they beat FTX to the punch! That is all I received. Be blessed!

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