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Happy Monday, Blockfolians

The Lede

Everyone is getting hyped about Coinbase’s upcoming IPO. Will it begin the next leg of the bull market?

It’s likely that at least part of the answer to that question rests on the question of whether institutional demand for bitcoin (and other crypto) continues or even grows.

Some intriguing news on that front. SEC filings from last week show that billionaire Dan Loeb’s Third Point hedge fund has crypto holdings with Coinbase. In total, Third Point manages about $17B and has crypto with five of their funds.

When the article was published, Loeb had this cheeky response.

Bonus points for the laser eyes.

If Third Point is any indication, there’s even more institutional bitcoin buying than we know.

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That’s how much legendary rapper Nas stands to make from the Coinbase public listing.

Final Thought

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