Happy Wednesday, Blockfolians
Well, JP Morgan may have had their upcoming Bitcoin product revealed this week, but that didn’t stop them from also singing the praises of ETH in their latest research report.
The report is called “Why is ETH Outperforming?” and man, just look at this summary:
“BTC is more of a crypto commodity than currency & competes with gold as a store of value, whereas ETH is the backbone of the crypto-native economy. To the extent owning a share of this potential activity is more valuable…ETH should outperform BTC over the long run” – JP Morgan
Get ready for more and more discussion about ETH as a macro asset. Right now, it feels inevitable.
Things move faster than the speed of light in crypto adoption….
Michael Tant @MichaelTant3
European Investment Bank is issuing 2 year digital bonds on Ethereum through Goldman, Santander, and Societe.
Wow. @GoldmanSachs #Ethereum @RaoulGMI https://t.co/kaQIrZ9C9V
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Highly Relevant Reading
Doge pumps on Elon’s latest tweet (obviously)
Polygon launches $100m DeFi adoption fund
Alchemy, an AWS for crypto/DeFi, raises $80m
Fed Chair Powell sees “froth in the markets”
This is a good debate
correct. pandering to institutions is a pointless exercise.
individuals > institutions https://t.co/Z1ae432e4y
Ben Hunt @EpsilonTheory
What made Bitcoin special is nearly lost, and what remains is a false and constructed narrative that exists in service to Wall Street and Washington rather than in resistance.
The Bitcoin narrative must be renewed. And that will change everything.
More good thoughts on Tesla’s Bitcoin sale
A short thread on TSLA selling 10% of their BTC.
The sale “in order to demonstrate liquidity,” is a totally legitimate action on their part. It looks as if this move may have been pre-meditated byto de-fang shareholder derivative lawsuits.
A Really Big Number We Should Be Paying Attention To
That’s how up Dogecoin mining is this year