Happy Wednesday, Blockfolians
The Lede
Last year in May, Goldman Sachs held a teleconference about bitcoin and the economy. Cryptocurrency, they vociferously argued, was not an asset class, and their investors should stay out of it.
10 months later, bitcoin is worth about 6x what it was then and GS is looking pre-tty silly. Many of their peers – most recently Morgan Stanley – have made announcements offering bitcoin products.
Maybe that’s why they’re now doing an about face and announcing a forthcoming slate of crypto and bitcoin investment opportunities for their wealthy clients.
Whatever the case, it’s hard not to feel like Goldman is not only late to the party, but their hand was forced.
Welcome to the big show, GS.
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Highly Relevant Reading
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BlackRock bought Bitcoin futures in January
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The Weeknd is the latest artist to plan an NFT drop
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Aave working to bypass Ethereum – a sign of trouble for DeFi?
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This is Bitcoin’s best start to a year since 2013
Community Commentary
Some great resources for learning more about DeFi in here
Nice one, Barry
A Really Big Number We Should Be Paying Attention To
$200,000
Okay so it’s not that big – but still, that’s the amount of Bitcoin Chipotle – yes, that Chipotle – is giving way
Final Thought
The Doggfather getting NFT advice
