Humble Bitcoiners!

It's Monday, so get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!

The price seems to be quite optimistic lately. 
Today's Rundown:
  • Hyperbitcoinization: BitMEX CEO predicts 5 countries to accept bitcoin as legal tender by the end of 2022.
  • The Predator: Interview with Michael Saylor on the predator-prey dynamics of bitcoin.
  • ETF: BlockFi files Bitcoin Futures ETF.
  • The Breaching:  The price breached $55,000. Is a new all time high coming soon?

HYPERBITCOINIZATION

BitMEX CEO: Five Countries Will Accept Bitcoin As Legal Tender By The End Of 2022
By Namcios

Alexander Höptner, the CEO of BitMEX, explained in a blog post why developing countries are leading the way in bitcoin adoption, and that the immediate backlash sparked by the Bitcoin Law in El Salvador, reflects mainly the opinion of those who benefit from the status quo.

In his piece he argues that the future is bright for bitcoin, and that at least 5 developing countries will accept it as legal tender. The decision will likely be driven by high inflation rates and hefty remittance fees, as El Salvador will likely be seen as a success story in the following months.

"They aren't quite opting out of the monetary system status quo (El Salvador still retains its other legal currency, the US dollar), but they are choosing to try something new. This deserves praise, not derision" - Alexander Höptner
Read Full Article

THE PREDATOR

MicroStrategy CEO Michael Saylor Interview: The Predator Prey Dynamics of Bitcoin
By Alex McShane


In an exclusive interview with Michael Saylor, the CEO of MicroStrategy, Alex McShane inquired about the reasons for Saylor's decision to adopt bitcoin as their company's reserve asset and to bet big on its future. Saylor discusses that the reason covers three main points:

  • Stage One: A defensive action
  • Stage Two: An opportunistic action
  • Stage Three: A strategic one.

Discussing the reason for the strategic move, Saylor mentioned that once the realization came that bitcoin is a high quality property, they realized that Bitcoin is the dominate digital property network, and digital property is infinitely better than physical. It is a tool that brings economic empowerment to 8 billion people.

"First I just wanted the number not to go down. Most people don’t think their number goes down when they’re holding dollars, but once you understand the inflation rate you realize your purchasing power is going down if you’re not keeping up with the cost of capital. Your wealth is being destroyed. So first I just wanted to preserve wealth." - Michael Saylor
Read Full Article

ETF

BlockFi Files For Bitcoin Futures ETF
By Namcios

BlockFi, the lending platform, filed to offer a bitcoin futures exchange traded fund (ETF). According to ETF analysts, there are optimistic views on an approval of possibly four futures ETFs in October.

The fund will be seeking to invest in bitcoin futures so that the total value of the bitcoin to which the fund has exposure equals approximately 100% of the net assets of the fund.

 
Read Full Article

THE BREACHING

The Bitcoin Price Breaches $55K In An Exciting Run
Dion Guillaume

As the week started with a sea of green candles, bitcoin’s price breached $50,000 for the first time since early September and then went on to breach $55,000 for the first time since May. Bitcoin seems poised to rally throughout the rest of the year as more institutional support gathered over the last week. Over the last few weeks, bitcoin has accumulated great bullish indicators:

  • 3 million people signed up to Chivo, El Salvadors wallet, and received $30 of bitcoin.
  • Chivo users, have been exposed to 10-30% appreciation on their bitcoin, if held.
  • Bill Miller compares gold to horses and bitcoin to a Ferrari.
  • CEO of Soros fund confirmed that the fund owns bitcoin.
  • Andrew Yang says to be a proponent of bitcoin.
  • Major Bitcoin mining firms hold over 200,000 bitcoin and continue to accumulate.
Read Full Article

MEME OF THE DAY
By the Notorious ₿RRRRRRRRRR

The mainstream media and fiat economist keep criticizing Bitcoin, as they have been since 2012. At which price will it be clear for them that bitcoin has already won? We shall wait and see. But let's not forget, their noise could push people away temporarily from bitcoin — so save everyone you can.

Keep educating and stack harder.


    
 
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