The Wolf Den #431 - KPMG Buys Bitcoin And Ethereum
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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 $3600 worth. I recently mentioned that the bullish narratives for Bitcoin have been lacking. KPMG said "hold my beer" and added both Bitcoin and Ethereum to their balance sheet. Incredible. They are HUGE. KPMG is the 4th largest accounting firm in the world, with over 75 offices, 40,000 employees and partners, and a market cap of over $30B. The size and importance of this company cannot be understated.We do not know how much was allocated to crypto, but this is arguably bigger news than MicroStrategy, Tesla, and Square all making their own allocations. MicroStrategy has a market cap of 4B and is a much smaller company. Further, KPMG is a financial services business, so their endorsement carries much more weight.To make it even more exciting, they didn't just pick Bitcoin, they bought Ethereum too. Let’s take a look at what the press release statement said.According to a managing partner at KPMG, “cryptoassets are a maturing asset class. Investors such as hedge funds and family offices to large insurers and pension funds are increasingly gaining exposure to crypto assets, and traditional financial services such as banks, financial advisors, and brokerages are exploring offering products and services involving crypto assets. This investment reflects our belief that institutional adoption of crypto assets and blockchain technology will continue to grow and become a regular part of the asset mix.”So what’s next? Well, the hope is that this move puts pressure on the other major accounting firms, including Deloitte, PwC, and EY. This now means we have broken major grounds in the accounting industry (KPMG), the auto industry (Tesla), business intelligence, (MicroStrategy), and fintech (Square). With each new corporation that adopts crypto comes a line of others that feel late and left out. The pressure is on for more companies to add Bitcoin (and Ethereum) to their balance sheets.And that is just corporations.Imagine what happens when the dominos start to fall for cities, states, countries, private offices, hedge funds, endowments, pensions, and more. We are still early.In This Issue:KPMG Buys Bitcoin And EthereumBitcoin Thoughts And AnalysisPaper Trade DailyWe Are Approaching 2M Ethereum BurnedLightning Goes MainstreamThe Wolf Of All Streets Podcast Ft. Dave WeisbergerMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #431 - KPMG Buys Bitcoin And Ethereum
The Wolf Den #431 - KPMG Buys Bitcoin And…
The Wolf Den #431 - KPMG Buys Bitcoin And Ethereum
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 $3600 worth. I recently mentioned that the bullish narratives for Bitcoin have been lacking. KPMG said "hold my beer" and added both Bitcoin and Ethereum to their balance sheet. Incredible. They are HUGE. KPMG is the 4th largest accounting firm in the world, with over 75 offices, 40,000 employees and partners, and a market cap of over $30B. The size and importance of this company cannot be understated.We do not know how much was allocated to crypto, but this is arguably bigger news than MicroStrategy, Tesla, and Square all making their own allocations. MicroStrategy has a market cap of 4B and is a much smaller company. Further, KPMG is a financial services business, so their endorsement carries much more weight.To make it even more exciting, they didn't just pick Bitcoin, they bought Ethereum too. Let’s take a look at what the press release statement said.According to a managing partner at KPMG, “cryptoassets are a maturing asset class. Investors such as hedge funds and family offices to large insurers and pension funds are increasingly gaining exposure to crypto assets, and traditional financial services such as banks, financial advisors, and brokerages are exploring offering products and services involving crypto assets. This investment reflects our belief that institutional adoption of crypto assets and blockchain technology will continue to grow and become a regular part of the asset mix.”So what’s next? Well, the hope is that this move puts pressure on the other major accounting firms, including Deloitte, PwC, and EY. This now means we have broken major grounds in the accounting industry (KPMG), the auto industry (Tesla), business intelligence, (MicroStrategy), and fintech (Square). With each new corporation that adopts crypto comes a line of others that feel late and left out. The pressure is on for more companies to add Bitcoin (and Ethereum) to their balance sheets.And that is just corporations.Imagine what happens when the dominos start to fall for cities, states, countries, private offices, hedge funds, endowments, pensions, and more. We are still early.In This Issue:KPMG Buys Bitcoin And EthereumBitcoin Thoughts And AnalysisPaper Trade DailyWe Are Approaching 2M Ethereum BurnedLightning Goes MainstreamThe Wolf Of All Streets Podcast Ft. Dave WeisbergerMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO