I hope another 100m people get into #Bitcoin before 100 big companies...

...but I don’t think the next 100m people will buy if 100 big companies don’t.

It’s a sad paradox — link

We think a lot about those black lines, forgetting that it’s all still in our hands. — Tim Urban

Who has been selling?

Apart from margin longs liquidating, my guess from the data, it's hedge funds rebalancing for end of Q1 reporting.

Many have mandates to rebalance when an allocation gets too big; BTC has outperformed incredibly. (Sell your winners, buy more losers). 👉 — show this thread

EIP 1559, one of the biggest changes to #Ethereum to date, will go live in July, core developers have decided. — link

The world’s first #Bitcoin exchange traded fund, Purpose Bitcoin ETF, has added 1,381 BTC over the past 7 days.

They now hold 11,445 BTC worth $557M, physically backed in cold storage. — link

*BIDEN'S $1.9 TRILLION STIMULUS BILL PASSED BY U.S. SENATE

Jack’s tweet is now going for $2 million

Nigerians still traded $25 million worth of #bitcoin last month after the government banned banks from processing transactions. — link

The selling pressure from Bitcoin miners is getting exhausted.

I think was one of the few contributors of the drop other than shaky macro landscape and retail selling. — link

$BTC Miners' Position Index (MPI) at near zero.

As Ethereum rebounded above $1,685 today for the first time in 10 days, whales (owning 10k+ ETH) now own 68.6% of the total supply. This is the highest % owned by whales since Nov, 2017. 10-10k addresses meanwhile, own the lowest % since Sep, 2017. — link

The devaluation of the purchasing power of the U.S. Dollar $DX_F has only just begun. This is why Bitcoin $BTC, real estate, U.S. equities and commodities will continue to trend higher when expressed in $USD fiat terms. — Peter Brandt

We are still in the early stages of the current #bitcoin bull market:

- Another $1.9T stimulus incoming
- $11.3T+ recently added to US M1 money supply (total $18T)
- #BTC market cap < $1T
- Endless inflation + QE = hyperbitcoinization

Targeting over $200k+ long-term 👉 — show this thread

Goldman Sachs: 40% of surveyed clients have crypto.

Institutional demand is “huge” — link

Wow. Is this the first publicly listed company that bought ETH?

Meitu is a $10B company with 50M daily active users FWIW. — Qiao Wang

If instead of thinking "the price of #Bitcoin is going up" you think "the purchasing power of #Bitcoin is increasing" you are at once freed. — Vijay Boyapati

For all my “#Bitcoin mining boils oceans” people out there: — link

The Ethereum Economy

EIP-1559 in Bloomberg this morning. Great title: Crypto Coin Outperforming Bitcoin Is About to See Supply Reduced

Venezuela is now the 10th largest #Bitcoin mining country in the world, by hashrate. — link

25 publicly traded companies now hold a total of 178,855 #bitcoin worth $9.6 billion on their balance sheets — link