This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COI wanted to take a moment to reflect on where we currently are in the Bitcoin story. As the tale is written, it is helpful to remind ourselves of what we have endured to understand where we are likely headed. It’s safe to say that the early days of Bitcoin as an underground form of money are in the past, along with the days of very early adopters. We have seen the retail cycle play out with the 2017 boom-bust cycle and have now entered the phase of institutional adoption.In many ways, institutional adoption mirrors the retail movement and also foreshadows the stage of government adoption in the not-so-distant future. Currently, we are somewhere in the middle, primarily resting in the “institutions are coming phase.” Understanding our recent past, current state, and imminent regulatory future can help eliminate some of the noise and give us a clearer picture of what is to come.The Retail Movement Before the retail bubble burst in late 2017 and early 2018, a war was fought in the Bitcoin community. Forking the blockchain was a major conflict, separating the community into different camps that remain divided today. It became apparent that Bitcoin does not function akin to “cash” as the white paper described it. Accommodating the influx of retail meant forking the code into a more scalable version of Bitcoin, one that the majority of the community still fundamentally disagrees with. As the war came to an end and Bitcoin underwent the fork, the retail market was growing in full force, attracting speculators, traders, and investors around the world. This led up to an epic price pump to $20,000 on some exchanges. It was a combination of greed, misinformation, and late arrivals that left primarily the retail market holding their bags for a devastating 2+ year bear market. Through this crypto winter, the largest breakthroughs in innovation occurred. DeFi began to pick up steam, exchanges popped up left and right, and overall accessibility to the markets drastically improved. The Institutions Are ComingThis is the story of today. After years of speculation about institutional adoption, we finally have the first inklings of what it can look like. Historians will look back at MicroStrategy as the company that helped carry us into the 4th era of Bitcoin. A no-name software company took the largest crypto leap of faith ever, with a $250M Bitcoin purchase. Michael Saylor the CEO of MicroStrategy, continued to buy more, becoming a thought leader and advocate for the space, paving the way for other companies to follow suit. Since his purchase, Square, Tesla, MassMutual, and others have joined the movement, adding Bitcoin to their balance sheets. Simultaneously, PayPal, Venmo, Visa and MasterCard are all heavily invested in mainstream adoption and Grayscale is continuing to out-purchase all of the Bitcoin being mined. This is still the beginning, but we will likely see more than just a handful of large companies jumping on board. Following suit could be a do-or-die decision. Beyond the companies of the world lie the governments of the world, Bitcoin’s final boss to prove itself as the 21st-century store of value. Government AdoptionThis story is largely unwritten but is argued to be likely by believers with deep conviction. It seems inevitable that either governments add Bitcoin to their reserves, or the currency fails. Stopping the trajectory of Bitcoin in the middle of the journey makes less sense than either achieving nation-state adoption or becoming a worthless digital asset. This era lies on the horizon for Bitcoin, but seems like the inevitable next step before Bitcoin swallows the world financial system.Live stream today at 2 PM EST! https://www.youtube.com/watch?v=PYt8qnHrJhsIn This Issue:Time To ReflectBitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsBinance US CEO Brian Brooks Steps DownNFTs Are High-Stakes Musical ChairsThe Infrastructure Debate Has StalledMy Recommended Platforms And Tools
The Wolf Den #303 - Time To Reflect
The Wolf Den #303 - Time To Reflect
The Wolf Den #303 - Time To Reflect
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COI wanted to take a moment to reflect on where we currently are in the Bitcoin story. As the tale is written, it is helpful to remind ourselves of what we have endured to understand where we are likely headed. It’s safe to say that the early days of Bitcoin as an underground form of money are in the past, along with the days of very early adopters. We have seen the retail cycle play out with the 2017 boom-bust cycle and have now entered the phase of institutional adoption.In many ways, institutional adoption mirrors the retail movement and also foreshadows the stage of government adoption in the not-so-distant future. Currently, we are somewhere in the middle, primarily resting in the “institutions are coming phase.” Understanding our recent past, current state, and imminent regulatory future can help eliminate some of the noise and give us a clearer picture of what is to come.The Retail Movement Before the retail bubble burst in late 2017 and early 2018, a war was fought in the Bitcoin community. Forking the blockchain was a major conflict, separating the community into different camps that remain divided today. It became apparent that Bitcoin does not function akin to “cash” as the white paper described it. Accommodating the influx of retail meant forking the code into a more scalable version of Bitcoin, one that the majority of the community still fundamentally disagrees with. As the war came to an end and Bitcoin underwent the fork, the retail market was growing in full force, attracting speculators, traders, and investors around the world. This led up to an epic price pump to $20,000 on some exchanges. It was a combination of greed, misinformation, and late arrivals that left primarily the retail market holding their bags for a devastating 2+ year bear market. Through this crypto winter, the largest breakthroughs in innovation occurred. DeFi began to pick up steam, exchanges popped up left and right, and overall accessibility to the markets drastically improved. The Institutions Are ComingThis is the story of today. After years of speculation about institutional adoption, we finally have the first inklings of what it can look like. Historians will look back at MicroStrategy as the company that helped carry us into the 4th era of Bitcoin. A no-name software company took the largest crypto leap of faith ever, with a $250M Bitcoin purchase. Michael Saylor the CEO of MicroStrategy, continued to buy more, becoming a thought leader and advocate for the space, paving the way for other companies to follow suit. Since his purchase, Square, Tesla, MassMutual, and others have joined the movement, adding Bitcoin to their balance sheets. Simultaneously, PayPal, Venmo, Visa and MasterCard are all heavily invested in mainstream adoption and Grayscale is continuing to out-purchase all of the Bitcoin being mined. This is still the beginning, but we will likely see more than just a handful of large companies jumping on board. Following suit could be a do-or-die decision. Beyond the companies of the world lie the governments of the world, Bitcoin’s final boss to prove itself as the 21st-century store of value. Government AdoptionThis story is largely unwritten but is argued to be likely by believers with deep conviction. It seems inevitable that either governments add Bitcoin to their reserves, or the currency fails. Stopping the trajectory of Bitcoin in the middle of the journey makes less sense than either achieving nation-state adoption or becoming a worthless digital asset. This era lies on the horizon for Bitcoin, but seems like the inevitable next step before Bitcoin swallows the world financial system.Live stream today at 2 PM EST! https://www.youtube.com/watch?v=PYt8qnHrJhsIn This Issue:Time To ReflectBitcoin Thoughts And AnalysisAltcoin ChartsLegacy MarketsBinance US CEO Brian Brooks Steps DownNFTs Are High-Stakes Musical ChairsThe Infrastructure Debate Has StalledMy Recommended Platforms And Tools