Beef and Bitcoin

Today's episode covers Tesla's recent announcement to accept bitcoin as a method of payment for their vehicles with the intention of HODLing that bitcoin and not converting back to fiat. The Suez Canal incident has proven to be a single point of failure with a potential ripple effect across global supply chains, how inflation is making its way into lumber prices, real estate, and automobiles, and Fidelity's announcement of a bitcoin ETF filing.

Bitcoin broke $30,000 on January 2nd, and quickly went through $31,000 within the hour. Bitcoin breezed through $32,000 and then $33,000 before finally pulling back to $30,000 after this episode was finished recording.   Are institutional investors ready to take profits or just getting their first positions? Tune in!

This episode covers the 2021 outlook for bitcoin and what you can expect to see in the next year. Bitcoin has turned into a must own asset almost overnight, as it rallied over 300% in 2020. Well known investors and institutions are starting to express interest in btc and have put out price targets ranging from $50,000 to $400,000.   The borrowing and lending market for bitcoin has also gained traction in 2020 and is set to explode in 2021. Bitcoin rewards is also a growing trend expected in pick up steam in 2021. bitcoin rewards debits cards from Fold and the Cash App are seeing tremendous growth, while the BlockFi credit card is set to launch in early 2021.  Be sure to like and subscribe and leave us a comment below.

Elon Musk and MicroStrategy CEO Michael Saylor had an exchange on twitter about Tesla converting the USD on their balance sheet to BTC. Saylor suggests that the move would be a benefit to the TSLA shareholders and that other companies in the S&P500 would soon follow. Coinbase is also planning their IPO and will be the first unicorn company to IPO in the bitcoin space.  

https://twitter.com/michael_saylor/status/1340665067570913280?s=20

Join Brett and CH as they discuss the recent bitcoin price consolidation at $19k and how different it feels from 2017. They also discuss Michael Saylor's interesting comparison between real estate and bitcoin as a store of value and how things like maintenance costs and property taxes should be considered when comparing the two. All of this and more in today's episode.

This was recorded on Sunday July 27th, right before the break above $10,000. Topics include the altcoin pump/defi madness and the recent news that banks can now custody bitcoin and other digital assets. 

https://www.theblockcrypto.com/post/72628/us-bank-regulator-crypto-custody

https://twitter.com/PeterLBrandt/status/1287160790882099202?s=20

Join Brett and Happy Shillmore as they discuss the recent twitter hack that took control of many verified accounts and tweeted out a bitcoin giveaway scam. There are many different ways to think about how this may or may not impact bitcoin (the price was stable during the hack and up slightly after) in the public eye. Tell us what you think below!

https://twitter.com/lawmaster/status/1284445654966837248

https://www.theblockcrypto.com/post/71906/twitter-account-hacks-timeline

https://twitter.com/acoinhodler/status/1284499486191099906

https://twitter.com/haseeb/status/1283578517515407361

Join Brett and Happy as they discuss the recent news surrounding a Coinbase IPO and how that fits within the macro landscape and who may want exposure to that, Tesla surging to new all time highs and whether or not that is a leading indicator, and the recent DeFi FOMO with yield farming 

https://www.reuters.com/article/us-coinbase-ipo-exclusive-idUSKBN24A21W

https://www.coindesk.com/there-are-more-dai-on-compound-now-than-there-are-dai-in-the-world

Join Brett and Happy Shillmore (what do you think of the name change btw?) as they discuss the recent discovery of 93 tons of fake gold found in the gold markets. Fake gold is nothing new, but it made for a good discussion in how bitcoin and gold have their own pros and cons when being used as collateral. HODLers appear to be in 'full blown prep mode' according to data from Glassnode that shows 61% of btc hasn't moved in a year. The last time this amount of btc was 'hodled' was prior to the 2017 bull run. There may be an argument that hodlers are accumulating and hodling in preparation for the next move. The 'crypto industry' also benefitted from government loans from the recent stimulus bills. All of this and more.

https://www.zerohedge.com/markets/83-tons-fake-gold-bars-gold-market-rocked-massive-china-counterfeiting-scandal

https://twitter.com/saifedean/status/1277991860691185665

https://twitter.com/glassnode/status/1277235618918129666?s=20

https://twitter.com/glassnode/status/1280566126443925506?s=20

https://twitter.com/coindesk/status/1280208034422296578?s=21

Join Brett and CH as they discuss how the last month as unfolded and the acceleration of QE across the globe.