Happy Thursday, Blockfolians
The last couple weeks, we can all agree, were a little rough. Crash after crash. FUD after FUD. Bad news cycle after bad news cycle.
Yet within it, the single thing that has been at the center of this bull run – the emergence of a new class of institutional investors – has continued unabated.
Earlier this week, Ray Dalio announced his entrance into the bitcoin fray. Now, we’ve also heard from the old activist investor rascal himself, Carl Icahn, who said that, while Icahn Enterprises hasn’t invested yet, they’re looking at a big, $1B-$1.5B position in Bitcoin, Ethereum and other parts of the industry.
At the end of the day, despite all the short term noise, the long-term trajectory remains powerfully in tact.
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Highly Relevant Reading
Cathie Wood blames crypto crash on ESG movement
WisdomTree has filed for an ETH ETF
Korea’s central bank is worried about leveraged crypto trading
Big news out of Austin, Texas: State lawmakers passed a “Virtual Currency Bill” that officially includes virtual currencies in Texas’ Commercial Code. The bill was passed with bipartisan support and will facilitate furtherbusiness and investment in Texas.
It will become very clear in the next few years that the federal nature of the US is Bitcoin’s greatest ally. The US won’t have “a policy” on Bitcoin, it will have 50 different policies
A Really Big Number We Should Be Paying Attention To
That’s the amount of Bitcoin whales purchased as the price fell
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