BREAKING NEWS ELON MUSK MAKES $1.55 BILLION BET ON BITCOIN
BREAKING
NEWS ELON MUSK MAKES $1.55 BILLION BET ON BITCOIN
And a
new filing says that they’ve updated their investment policy to provide more
flexibility to, are you ready for this, be able to buy bitcoin.
We have
invested in aggregate $1.5 billion in Bitcoin.
The
company says under this policy and may acquire and hold digital assets from
time to time or long term. Moreover, we expect to be in accepting Bitcoin as a form of payment for our products in the near
future.
The
company says subject to applicable laws and initially on a limited basis, we’ll
see what that means, which we may or may not liquidate upon receipt that would
be similar to what PayPal is doing in terms of how it transacts with merchants.
This
could be another, I mean we’re watching Bitcoin
move up on the back, I imagine this news
I don’t know how quickly it’s getting into the public realm right now. All
right,
Today’s
interested in making money in cryptocurrency, and you want to stay up to date
on a daily basis. let me clue you in on everything you need to know. Regarding
what’s going on in the world of cryptocurrency today. This story needs no
introduction I guess we’ll just say 1.5. billion, with a B Tesla’s cash going
into bitcoin plus they, ‘re going to
start accepting Bitcoin for car payments.
This is huge. Is there anybody who doesn’t
think this is huge Ilan confirmed, two things today number one bitcoin is a
store of value for Fortune 500 companies the perception shift around this is
happening incredibly fast? Nobody wants to be first. Nobody wants to be last.
Number two, Bitcoin is a form of payment for high-value products like Tesla
cars. We are just getting started, my friends. This what’s happened here, cannot
be understated. This is going to send bitcoins
price to Mars.
Analysts
say that this move by Tesla is liable to
be a game-changer for Bitcoin. If any lesser mortal had made the decision
to put part of their balance sheet in Bitcoin. I don’t think it would have been
taken seriously. But when the richest man in the world does it. Everybody’s got
to take a second look, Thomas Hayes, great Hill capital L, l see. The point is,
guys.
Bitcoin has plenty of upsides ahead in this
bull run, I mean, we’re just breaking
above the first 30% dip. So have some perspective on this, we are still
early in this cycle and in relation to Bitcoin in general, at least, 6%, of all
Bitcoin has that kept fixed supply, so you can only get a percentage of it
right at least 6% of all Bitcoin over 50 billion in fact is already in
corporate treasuries.
The
real number, including unreported private companies VCs what you hold what I
hold, is probably at least two acts that and growing so Bitcoin is being taken
off the market, and mass we’re seeing it. It looks like Michael sailor, by the
way, what Michael sailor has done at a conference. Bitcoin for corporations it’s
just unbelievable the impact that Michael sailor is having it looks like
Michael sailor is bringing his website hope calm, to the corporate community.
This is
a Bitcoin website impacts are already being seen coins, once again, being
scooped off of exchanges and I want to remind you of something. His Bitcoin
conference already happened. And we know for a fact that money is about to
start flowing in according to NYDIGs, Ross Stevens I mean so just so you know
about the need. NYDIG is the Bitcoin subsidiary of stone Ridge, a 10 billion
alternative asset manager.
We are
aligned behind the mission of safely unlocking the power of Bitcoin through tech and financial services that
enable forward-thinking companies and investors to access Bitcoin.
They
have 3 billion-plus assets under custody 10 billion-plus notional settled, 170
plus stone Ridge employees. So, when Ross Stevens says this, you better believe
them today.
NYDIG a full service vertically integrated Bitcoin, only financial services firm.
The first billion during that dark challenging five years it took 1200 days to raise that first billion always the hardest first billion is always the hardest 1200 days.
The last billion took six one year ago we had
25 institutional clients. Today we have 280 institutional clients we’ve got a
pipeline in the onboarding process of 96 we can put 75 institutions through the
pipe, a month that’s our current capacity. We’ve got over $6 billion in
Bitcoin. Now, between what’s in the door, and what’s committed from
institutions and we are Vanguard Ising this asset class best product best
price. And as we scale we’re driving prices down down down our pricing today is
70% lower than it was a year ago, and by the end of the year Michael I am
confident we’ll have over $25 billion of Bitcoin I’ve just got this order book
I’m not guessing, I see what’s happening.
Okay,
$25 billion. Yeah, that’s astonishing growth, and it matches what I suspected.
And what I didn’t know is going on with institutions and Bitcoin given night
eggs role in the Bitcoin ecosystem. You have tremendous visibility into what
all sorts of institutions are doing and how they’re adopting Bitcoin. So what
can you tell us?
Well, I
mean, the full one-liner is all kinds of institutions are adopting Bitcoin
public companies private companies hedge funds private equity funds credit for
funds. I mean, even investors who if you asked me a year ago, would they come
in, I’d say absolutely not the most conservative but also the most
sophisticated most careful investors in the world. Triple-A and double a life
insurance companies. Double-A PNC insurance companies today have more than $500
million of Bitcoin exposure through NYDIG and I know for sure because I’m not
guessing, they’re just getting started. So,
NYDIGs,
and BlackRock and their impact on the space and as you know just an on-ramp for
institutions to buy bitcoin cannot be understated. One year ago we had 25
institutional clients. Today we have 280. By the end of this year, I’m
confident we’ll have over 25, billion of Bitcoin. I’ve just got this order
book. I’m not guessing, I see what’s happening. So they’re gonna have 25
billion in Bitcoin, by the end of the year. Elon Musk has 1.5, billion
MicroStrategy has like what 2 billion. You can see what’s happening here.
Right. You can see what’s happening here. Right.
I told
you this the other day but it’s official now filed with SEC Bill Miller is
two and a quarter billion fund prepares to buy exposure to Bitcoin it’s
official filed with the SEC. I mean, guys, the bull market is happening around us,
Snoop Dogg, Gene Simmons, join Elon Musk’s Dogecoin army.
It’s
just like crazy that this is happening where I never would have guessed, Gene
Simmons of a kiss. And this is an unpopular opinion to some people but Mark Jasco
tweeted it and I tend to agree, talking about, even more than just Bitcoin crypto.
I think
many people don’t realize how much money is being made in crypto. Whether you
believe in crypto or not real life-changing usable fortunes are being made. So
he’s happy for his friends and clients whose decisions were often unpopular,
they’re thriving, right now. And I just want to congratulate everybody in our
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