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HEALTH, WEALTH, AND HAPPINESS |
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Hi Everyone,
Many an article has been written through the years about how to speak with your family regarding bitcoin at Thanksgiving dinner.
Especially in 2017, I remember this being a huge theme, but also in 2018 and 2019 to a lesser extent. In 2020, no article is needed.
Just kick up your feet, place them one over the other right on the table and feel the sweet vindication. That is, as long as you payed attention to any of the above-mentioned articles and did speak with your family about bitcoin, they should be thanking you.
Even if Aunty Broomhilda dragged her feet and got in two weeks after the holiday, she should still be in a comfortable profit by now.
That is, as long as she didn't sell out at a loss, and if she did, feel free to mention it when passing her the gravy. "Hey, don't drop it with those week hands, Broomy."
Of course, I jest. We always want to be respectful with our family members. The simple fact of the matter is though that unfortunately many families won't be gathering for the holidays this year.
Though it's an unfortunate situation, it's probably not the end of the world. The important thing to remember is, we have a lot to be thankful for.
Please note that there will be no QE Newsletter tomorrow in observance of the holiday. |
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Progress
For those of us in the digital asset space, there's certainly a lot to be thankful for. It's not just the prices, either.
This little industry is growing quickly on many different fronts. From DeFi, to DAOs, stablecoins, smart contracts, decentralized applications, sports fan tokens, and various NFTs, everything seems to be growing at an exponential pace these days.
One initiative that I found interesting coming out of Draper Goren Holm are these NFTs they created, based on the speakers from their recent event, the LA Blockchain Summit.
For a small amount, you can bid on one of these NFTs, and the winner of the auction will receive a collectible, one-of-a-kind image of the respective token.
While someone could simply take a screenshot of one of the pictures created for these auctions, the unique image is a cryptographic token version that can be verified on the blockchain.
The point here is that it's getting easier and easier to create and interact with blockchain-based assets, which cannot be counterfeited or replicated without authorization.
Remember the card game Magic: the Gathering? It was hugely popular when I was growing up. My brothers and I would often play with friends and neighbors.
Well, now such an environment can be created online in a trustless environment where people can collect, trade, and play with people anywhere on Earth 24/7. |
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Added to the list
It's day five of bitcoin's $20,000 watch, and volatility seems a bit lighter than usual today.
It's a bit strange, because volumes are still quite strong, with Messari reporting $4 billion worth of BTC trading on exchanges in the last 24 hours.
The narrative about the key role played by billionaires and hedge funds was strengthened in my mind today by watching the morning news with Bloomberg's Tom Keene and Jonathan Ferro, as well as their guest Julian Emmanuel, Managing Director of BTIG, lean into the bitcoin FOMO.
As far as stocks are concerned, Emmanuel says to be patient, but not for bitcoin.
The FAANG stocks are over-extended right now, and portfolio managers should be looking to diversify, he argues.
I really wish I had a recording of that one. In any case, we can now add him to the list of reasons to be bullish.
Wishing all those who're celebrating a very happy Turkey Day!!
All the best, |
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Mati Greenspan Analysis, Advisory, Money Management |
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