Health, Wealth, and Happiness |
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| “Gold actually has properties – you can use gold for all sorts of things. People value gold for the metal. Nobody values bitcoin for the bitcoin, they value it because they believe that they can exchange it for something else.”
- Peter Schiff |
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| Howdy investors!
Traditional players are jumping into crypto, and this week was a big step in that direction.
Traditional payments company Visa is testing ways to make it easier to interact with dapps. At the same time, Coinbase's new blockchain has leapfrogged into second place (based on usage) on the basis of its new launch of Base.
We're also discussing how the new (crypto) can mesh with the old (gold) to provide investors with a strong and stable portfolio.
Let's jump in! |
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Crypto Investing vs. Gold as an Investment by Matthew Du |
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| Investor Takeaway: Contrary to what you might have heard, it's not one versus the other. The reality is that Investors can leverage both goldand crypto to build long-term wealth -- in fact, using both is likely to increase the diversification of your portfolio.
At Bitcoin Market Journal, we want our readers and subscribers to make the best investment decisions for their situation. Crypto presents investors with a lucrative but volatile asset that demands a certain kind of consideration.
Our investors have repeatedly expressed a desire for assets that provide a stable and responsible investment for long-term wealth storage. One such asset is gold. The price of gold has remained relatively strong throughout the years, and many consider it a haven for the US Dollar.
But does that mean there's a benefit to investing in gold rather than crypto? Or is that question more complex?
The answer is yes; it is much more complex. And in today's article, we unpack the common question of investing in crypto vs. gold.
Read more on Bitcoin Market Journal >> |
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| Premium Power-Ups Level up your crypto investing game. |
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| Blockchain Book Club: Bitcoin Billionaires by Ben Mezrich
Join us for the next meeting of our Blockchain Book Club on Wednesday, August 16, 2023, at 6:30 PM ET!
We will discuss Ben Mezrich's fun and readable book, Bitcoin Billionaires: A True Story of Genius, Betrayal, and Redemption.
Many of you know Mezrich's previous book, The Accidental Billionaires, about the founding of Facebook (which later became the movie The Social Network). That book centered around the court battle between Mark Zuckerberg vs. Tyler and Cameron Winklevoss, who argued that Zuck stole their idea for Facebook.
In this book, the Winklevoss Twins are the good guys, taking their newfound Facebook fortune and reinvesting it into bitcoin. Mezrich, a master storyteller, makes difficult technical concepts easy to understand. (The chapter around the twins' extreme secrecy measures to keep their bitcoin safe is especially memorable). |
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| You can buy the book on Amazon, the audiobook on Audible, or check out the book from your local library. (Your library has Kindle and audiobook versions, too!)
Premium members: Click here to RSVP for the event. We look forward to seeing you there! (Not a Premium member? Sign up today to access our complete library of webinars, crypto scorecards, and other member-exclusive content.) |
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| | | Must Read Today's most important stories for crypto investors. |
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| Investor takeaway: Messari dropped their massive State of the Market 2023 for Q2. It's a deep dive into the market data and key performance metrics for over 30 blockchain projects, including bitcoin and Ethereum.
This is an extremely helpful report for seeing which crypto projects are growing active users and daily transactions -- and which ones are losing them. |
| Investor takeaway: "You were right," the article begins, "it's not a passing fad."
Crypto may be mainstream later, but it is growing in adoption, particularly among the young. In 2022, crypto ownership in the U.S. grew from 3% to 11% of the population even as crypto was in a bear market. This article is a great read if you are interested in crypto's cultural impact on people now, especially younger generations who will become potential financial decision-makers. |
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| Investor takeaway: To streamline interactions with dapps on the Ethereum blockchain, payments giant Visa has successfully trialed a solution allowing users to pay gas fees with their Visa credit cards.
It's still experimental, but it shows that Ethereum is slowly but surely making inroads into the legacy payments system. |
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| Investor takeaway: Coinbase’s Base overtook Optimism just a day after its mainnet launch and quickly became the Layer-2 network with the highest number of daily active users after Arbitrum. The surge in activity has been attributed to the launch of a new social media network called Friend.tech, which allows users to buy and sell "shares" associated with Twitter profiles.
The rapid adoption of Base just adds strength to our Coinbase investing thesis. |
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| | | Long-Term Wealth $1K invested at today's market prices |
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| This asset | invested 5 years ago | is now worth | | Bitcoin (BTC) | $1,000 | $4,591 | | Ethereum (ETH) | $1,000 | $4,249 | | Uniswap (UNI)* | $1,000 | $1,082 | | BNB Chain (BNB) | $1,000 | $17,419 |
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| Note: The future may look different from the past. Please invest carefully. * As UNI is less than five years old, we calculate from the launch date (Sep 2020). |
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| | | ICYMI In Case You Missed It |
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| Share the Love Help grow our crypto investing community. |
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| Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Steve Walters, Gerald Jackson, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.
Both free and Premium subscribers get content to build them into better investors.
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