Hot off the crypto press

Love these emails :slight_smile:

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Blackrock Inc., the World’s Largest Asset Fund Manager, Adds Crypto to Its Books


Two years ago the firm said it’s clients “weren’t interested in owning crypto,” now they’re saying “it’s going to be part of the asset suite for investors for a long time.” We agree. Blackrock manages a whopping $8.7 trillion in assets and their updated prospectus includes a pair of funds with cash-settled Bitcoin futures.

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Fundstrat Calls for a 650% Increase in Ether Price


“We continue to believe Ethereum fundamentals are incredibly strong and think [ethereum] represents the best risk/reward investment play in crypto,” Fundstrat analysts wrote, going on to update their target price to $10,500 . Their price targets are based in large part on the gas fees, which totaled roughly $600m in 2020 but are already over $180m for January. This puts transaction fees on track to hit almost $4b by the end of the year.

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Goldman Sachs to Soon Custody Cryptocurrencies


Following on the heels of other institutional players like Fidelity and JP Morgan, Goldman Sachs “have issued an RFI looking at digital custody. We are broadly exploring digital custody and deciding what the next step is,” said the Goldman source, who asked not to be named.

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Janet Yellen Says Cryptocurrencies are of “Particular Concern”


When asked about the possible threat of cryptocurrencies, Janet Yellen, the new Federal Reserve Chair, said: “I think many are used at least in a transactions sense mainly for illicit finance.” This was quickly disputed by Fidelity’s Tom Jessup, who stated that only approximately 3/10 of one percent of cryptocurrency transactions were for illicit activities (1:29).

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Bitcoin FUD Continues over Bogus Report that Sees an 11% Drop in Bitcoin Price


After Janet Yellen’s statements hit the wire, another story about a double-spend issue on BitMEX began to spread. Andreas Antonopoulos soon explained what happened and how the Bitcoin blockchain perfored exactly as expected (tweet thread). Data Dash also has a great breakdown (video). This didn’t keep the price of Bitcoin from briefly dropping to below $30k.

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Shiiiii :shushing_face:
Let the bubble guys be happy with their VUSA :see_no_evil:

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Ha, VUSA, or the S&P500 specially has done pretty well over the years :stuck_out_tongue_winking_eye:

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the only thats not in a bubble at the moment is crypto lol fixed and limited supplies coupled with mass adoption its a safer risk than the S&P500 in my eyes