The world is changing , we’re getting a lot more adoptionvof crypto and bitcoin. In particular this is real innovation and financial services and coinbase has added to that innovation. In a few ways it could be a big catalyst that maybe is getting overlooked a bit.Because coinbase everybody knows it, but in the background
etf’s not a thing to scoff at either.It just the institutional case for bitcoin getting stronger by the day. Microstrategy is according to an 8k the company will pay non-employee directors all fees for their service. this bitcoin instead of cash payment amounts will remain the same and will be nominally denominated in u.s dollars. when payment is made the amount will be converted from dollars into bitcoin by the payment processor and deposited into the digital wallet of the director,microsoft nuance.
but what do you make of that and what does it say about crypto. it just says that you got to buy coinbase when that deal comes even though it’s a 100 billion dollar deal. This has become a common knowledge that there are many companies are going to switch this microstrategy’s always been the leader andrew. you can quickly transfer that to dollars. it’s a storehold of value. This is a two trillion dollar market maybe going to three trillion. it’s become when you start hearing the common knowledge different firms going forward.
coinbase is an amazing opportunity. it’s churning out lots of cash . world is changing or that this is a collective delusion and by the way it could be both. people who see this at the future and for less positive reason which is people see this as the best macro hedge and we need to think about that how has it come to the point. where we think of a volatile bitcoin as the best macro hex. But in reality there’s a lot of work being done in the central banking community on crypto . central bank cryptocurrency the bis in particular that brings together all the central banks have been looking at that. So there’s a lot of work going on. don’t be fooled. Crypto is in the last year and it has almost become mainstream. So positive future for that whole arena and for coinbase. This is real innovation and financial services to joke that we haven’t seen true innovation and financial services meaning people act differently; they do things differently. it’s not just efficiency. probably , since the money market account in the early 70s and coinbase has added to that innovation in a few ways .
first the settlement process the fact that they’re using blockchain means that we don’t have to worry about t plus x settlement which has been such an issue in our markets. second it’s really new use cases people are using it differently.so for example nfts . people trading it separately . Then third institutions even in the last three or four months have really come in and corporates have come in and need to have crypto.
so they’re thinking about valuing it more like a online brokerage firm. so they’re thinking about it in 15 20 plus multiple. In the background etf’s not a thing to scoff at either. It just the institutional case for bitcoin getting stronger by the day and this is just the very latest thing. coinbase going public on april 14th that could be a big boost or a lot of crypto enthusiasts are excited about it. But you could certainly argue that those who are maybe a little wary of having to stomach some of the volatility in direct investments into cryptos could be looking at coinbase as another way to sort of dip their toes in the market. as well and it’s been interesting to see how the moves in bitcoin as well as ethereum lifting other coins as well last week. crypto’s market value topping two trillion dollars. so it’s not just about bitcoin anymore ,but it certainly looks like we are starting to see the knock-on effect in other currencies. here getting a lift from the overall value proposition around this.
So in my point on bitcoin long term There's a very important ico coming out and how digital assets respond that with both u.s equities and bitcoin.
Thank you
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