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 - up to $1200 worth. I really encourage you to check them out.One of the major disadvantages of having nearly your entire net worth in crypto is that banks don't recognize your holdings as a part of your net worth.If you walk into most banks with millions of dollars in crypto and a couple of hundred dollars in your savings and checking account, then in the eyes of the bank you are only worth a couple of hundred dollars. Perhaps you have an NFT collection worth tens of millions of dollars? A bank wouldn't even know what that was.This is problematic for crypto enthusiasts that are seeking mortgages and other loans.It could finally change.The FDIC (Federal Deposit Insurance Corporation) is discussing ways in which “banks can engage with and hold bitcoin, and use it as collateral for loans.”What happened to "long Bitcoin, short the bankers?"While that is a great sound bite, if we want mainstream adoption, we should root for these two forces to find a middle ground. There are millions of interested investors that are still scared to "be their own bank," and who would gladly custody their assets with the legacy system, like any other money they hold. Individual states have already made great progress around private banking and crypto, but it's time for federal regulators to take over and offer clarity.Furthermore, being able to take a loan from your bank against your Bitcoin would increase competition with other lending services, ultimately leading to better rates and helping HODLers avoid ever selling their coins.If we want Bitcoin and crypto to become mainstream assets that are a part of every investor's portfolio, then we need the banks on our side. It does not mean that we need to use them!Chart Request Live Stream at 1:30 PM EST. Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 12:30 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.REMINDER: I can only do so many charts on the livestream. My assistant picks 25 random requests from everyone’s submissions and those are the coins I chart.Chart Request FormStream linkIf you are a new member, please refer to THIS BLOG for instructions on how to make my charts your own.In This Issue:Banks May Custody Our AssetsSmart Contract Platform Momentum- IntoTheBlockBitcoin Thoughts And AnalysisTom Brady Gives Fan BitcoinFTX Purchases Super Bowl AdValkyrie Files Leveraged Bitcoin Futures ETFRobinhood Crypto Revenue Drops 78%My Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #359 - Banks May Custody Our Assets
The Wolf Den #359 - Banks May Custody Our…
The Wolf Den #359 - Banks May Custody Our Assets
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 - up to $1200 worth. I really encourage you to check them out.One of the major disadvantages of having nearly your entire net worth in crypto is that banks don't recognize your holdings as a part of your net worth.If you walk into most banks with millions of dollars in crypto and a couple of hundred dollars in your savings and checking account, then in the eyes of the bank you are only worth a couple of hundred dollars. Perhaps you have an NFT collection worth tens of millions of dollars? A bank wouldn't even know what that was.This is problematic for crypto enthusiasts that are seeking mortgages and other loans.It could finally change.The FDIC (Federal Deposit Insurance Corporation) is discussing ways in which “banks can engage with and hold bitcoin, and use it as collateral for loans.”What happened to "long Bitcoin, short the bankers?"While that is a great sound bite, if we want mainstream adoption, we should root for these two forces to find a middle ground. There are millions of interested investors that are still scared to "be their own bank," and who would gladly custody their assets with the legacy system, like any other money they hold. Individual states have already made great progress around private banking and crypto, but it's time for federal regulators to take over and offer clarity.Furthermore, being able to take a loan from your bank against your Bitcoin would increase competition with other lending services, ultimately leading to better rates and helping HODLers avoid ever selling their coins.If we want Bitcoin and crypto to become mainstream assets that are a part of every investor's portfolio, then we need the banks on our side. It does not mean that we need to use them!Chart Request Live Stream at 1:30 PM EST. Please follow the rules. I cannot take requests at any other time, so if you send them during a different window they may not get charted. Remember, no more email requests.1 chart per person, per weekSubmit your request between now and 12:30 PM EST.You can only submit your request through the link below.If it is not on TradingView, there is a chance I will not able to chart it.REMINDER: I can only do so many charts on the livestream. My assistant picks 25 random requests from everyone’s submissions and those are the coins I chart.Chart Request FormStream linkIf you are a new member, please refer to THIS BLOG for instructions on how to make my charts your own.In This Issue:Banks May Custody Our AssetsSmart Contract Platform Momentum- IntoTheBlockBitcoin Thoughts And AnalysisTom Brady Gives Fan BitcoinFTX Purchases Super Bowl AdValkyrie Files Leveraged Bitcoin Futures ETFRobinhood Crypto Revenue Drops 78%My Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO