WE BELIEVE IN THE FREEDOM TO TRANSACT
i gave a keynote address at the national press club last month for
@btcpolicyorg
โs summit arguing that
#bitcoin
ย is not only compatible with but reinforcing to american values, and that attacking bitcoin will harm america more than bitcoin
#Dogecoin
has always been a joke, and the joke just keeps getting funnier.
We
@glxyresearch
just published the worldโs most comprehensive report on
#DOGE
titled โDogecoin: The Worldโs Most Honest Sh*tcoin.โ
Download the report here:
NEW EVIDENCE THAT
@KamalaHarris
WILL CONTINUE CRYPTO CRACKDOWN
her advisor choices suggest she will keep bidenโs hostile attitude to crypto
harris is working w/ brian deese & bharat ramamurti, 2 key anti-crypto officials from biden admin..
thread ๐งต
this bill from
@SenWarren
massively expands the bank secrecy act, imposing bank-like KYC rules on non-custodial software products, including FOSS. and itโs gaining steam with 5 new co-sponsors ๐
this would be disastrous for
#bitcoin
and crypto in USA
the
#bitcoin
gamma squeeze from last week could happen again ๐
if BTCUSD moves higher to $35,750-36k, options dealers will need to buy $20m in spot BTC for every 1% upside move, which could cause explosiveness if we begin to move up towards those levels
more ๐
Why We Aren't (S)Topping
(for my first ever long X post, I'm releasing a note I sent early this this morning to Galaxy counterparties and clients)
The sun hasnโt yet risen in NYC, but I know it will. From Galaxy HQ north of Battery Park, the Hudson River looks like a sea of
#bitcoin
fees are at all-time lows. the craziest thing? fall 2021 was the first bull run not accompanied by a major spike in fees.
how is that possible? what does it mean? here's a thread explaining the most confounding (and awesome) chart in bitcoin. (remember june 2021)
people saying that satoshi might โpop up with another 21mโ is the most hilarious and dumbest fud yet
21m isnโt some promise satoshi made he could reneg
21m is the result of 1000s of nodes agreeing on code which is open source and easily verifiable lmao
Fidelityโs
#bitcoin
ETF is named โWise Origin.โ
Why?
ใตใใท ("Satoshi" in Katakana) or ่ฆ ("Satoshi" in Kanji) means โwisdomโ or senseโ
ใใซใขใ ("Nakamoto" in Katakana) or ไธญๆฌ ("Nakamoto" in Kanji) means โbaseโ โrootโ or โoriginโ
Thatโs pretty lit if you ask me ๐
It took 8 years for
#bitcoin
to become a $100bn asset. Bitcoinโs market cap just grew by $100bn in 3 days. If youโre not in awe of this thing, and the powerful and growing community behind it, you arenโt paying attention.
when
#bitcoin
ETFs are approved, we think these vehicles could see a minimum of $14.4bn of inflows in year 1, ramping to $38.6bn inflows in year 3.
at those levels, BTCUSD could see 75% appreciation the year following approvals ๐
more in our new report from today๐
IT'S OFFICIAL: yesterday (june 27 2021), saw the slowest
#bitcoin
blocks in TEN YEARS (since 2010). blocks times avg. 23min, instead of the target 10min. the latest "china ban" is the most disruptive action the bitcoin network has ever faced, but it will survive, adapt, thrive ๐
creditors have been stuck in mt gox bankruptcy for 10+ yrs--finally trustee says in-kind distribution of
#BTC
#BCH
will begin in july. we think fewer coins will be distributed than people think & that it will cause less
#bitcoin
sell pressure than market expects
here's why ๐
options market makers in
#bitcoin
are increasingly short gamma as BTC spot price moves up.
when youโre short gamma and spot px rises, you need to buy back spot to stay delta neutral.
this should amplify the explosiveness of any short-term upward move in the near term. more ๐
regarding the darkside / colonial pipeline ransom, we looked on-chain & found a pattern that seems to show the funds ultimately flowed to a trading desk or exchange willing to comply with a US warrant.
thereโs no evidence of a
#bitcoin
or bitcoin wallet security vulnerability๐๐ผ
fmr president trump spoke for 49 minutes on saturday at bitcoin 2024 in nashville, a truly historic speech
hereโs a condensed 12min version w/ his most important statements on bitcoin & crypto โ click the times below to jump around
0:00 hello bitcoiners
0:23 bitcoin legends
these rules effectively ban crypto in america, and they fundamentally undermine the core innovation itself โ P2P digital cash. if you believe humans should have the right to transact without an intermediary, you must oppose this bill. call your senators! this is the big fight! ๐จ
this guy just bought โฆ
@BitcoinUr
โฉโs iconic โbitcoin sign guyโ
#bitcoin
artifact for 16 BTC and no one knows who he is. he spent time in jail in his life. but heโs a bitcoin OG that no one has ever heard of. donโt underestimate bitcoin โฆ
@PubKey_NYC
โฉ
The total number of bitcoin addresses that hold any amount of BTC has hit an all-time high at 28.39M addresses, surpassing the previous ATH of 28.38M (achieved on 1/10/18). (Data via
@coinmetrics
Pro)
Short thread ๐๐ผ
Reminder to newbies:
On Twitter,
@btc
is bitcoin and
@bitcoin
is bitcoin cash. Perplexingly, on reddit, r/bitcoin is bitcoin and r/btc is bitcoin cash.
Sorry ๐คท๐ผโโ๏ธ
every critic who called bitcoin a bubble or โtulip maniaโ needs to take a long hard look in the mirror
the supposed โtulip maniaโ didnโt happen 4 times, each from a way higher base
admit you were wrong and salvage whatโs left of your credibility
worldcoin is so incredibly dystopian that itโs hard to believe itโs real.
that major investors are promoting this global biometric data gathering scheme with its large premine is so audaciously tyrannical and self-serving that it should be a โmask offโ moment for all observers
likely the USG/Silk Road coins were already sold & this is post-trade settlement.
@Blockworks_
reported Jan 25 that they were going to sell $130m. today they moved ~2k BTC ($131m) to CB.
test tx:
2k movement tx:
blockworks:
30.1K BTC ($2.1B) of Silk Road hack funds controlled by US government is on the move right now.
0.001 BTC ($69) transferred to a Coinbase deposit address so itโs a test transfer possibly.
txn hash
9c3af4b48e66565f1da1da8278036fa1dbb09f2beaaca99c3504475390ba4590
Coinbase
big day for crypto on tuesday (jun 13)
- SEC must respond to CB request for rulemaking
- bina US hearing on TRO at 2pm
- internal SEC hinman docs to be unsealed in ripple case
- HFS sub cmte on digital assets hearing 2pm
- comments close on SEC exchange definition proposal
#bitcoin
isnโt the most valuable cryptocurrency because it was the first. Itโs also the most secure, most decentralized, most scarce, and most reliable. Itโs not just โfirst mover advantage,โ no matter how many Silicon Valley analogies you want to believe.
on
@business
today, sen. warren again misled about the digital asset AML act (DAAMLA)
contrary to her assertion, the USA crypto industry DOES abide by AML/KYC rules
her bill doesnโt target the โindustryโ it targets non-custodial, P2P software run by american citizens
hedge fund legend ray dalio: โbitcoin has imputed valueโฆ because of the depreciation of fiat, there will be a competition of monies, and
#bitcoin
is part of that competition.โ
many have noted
@SenWarren
โs lackluster record of passing laws
but i think this time could be different
- 13 cosponsors, incl 2 Rs
- potent terrorism narrative post-10/7
- theyโll try to hang it on must-pass approps bill
- razor thin R majority in House makes hard to thwart
this bill from
@SenWarren
massively expands the bank secrecy act, imposing bank-like KYC rules on non-custodial software products, including FOSS. and itโs gaining steam with 5 new co-sponsors ๐
this would be disastrous for
#bitcoin
and crypto in USA
remember that in dec. 2020, BTC touched its prior all-time high of ~$20k twice, then ranged and traded -11.3% lower over 15 days before definitively breaking ATH
likely to look similar here, and some consolidation would be healthy after +62% YTD / +77% from YTD low (jan 23)
.
@JackMallers
is a good and great human and his talk yesterday will be remembered as one of the most iconic ever delivered in
#Bitcoin
history.
iโm frankly still blown away by it, but iโll always be trying to channel some of jackโs energy from june 5 2021. powerful love.โก๏ธ๐งก
@binance
the
#bitcoin
network is completely stable. blockspace is currently expensive and you apparently havenโt spent the time to prepare for a high-fee environment on bitcoin, with batching, lightning implementations, or just good fee estimation for your users. time to do some basic
the fact that credit cards (and their visible numbers) and social security cards and drivers licenses and passports are basically just visible private keys and not an asymmetric key pair is embarrassing for humanity
~25K BTC from Mt Gox has moved in the last hour, likely the beginning of distributions to creditors
i sent a note to GLXY clients & counterparties a couple weeks ago with estimated payout amounts
i personally expect most BTC gets hodlโd, but i canโt say the same for the BCH
busy week in legal / regulatory for crypto. check out this list of headlines since monday:
- DOJ arrests Samourai Wallet founders
- FBI publishes warning against using non-MSB crypto
- Warren sends letter re: crypto & CSAM
- DOJ files opposition to Tornado Cash MTD
- Phoenix
โBitcoin is not the iPhone of money - cute, easy, simple. Itโs the gunpowder of money. Youโll use it because you have to. Itโs financial dynamite.โ
-
@saifedean
Thanks for coming to speak to us today, Saif!
almost 12 years ago, at the height of the financial crisis, i joined
@fidelity
, a truly excellent company that employs some of the best people iโve ever known. this pic is from my first day back in 2009. today is my last day... itโs been real! โ๐ป
@DigitalAssets
@avonventures
denial of
@custodiabank
โs fed membership & master account on concerns of โsafety and soundnessโ looks a bit absurd right now
custodia was to be a non-lending fully reserved depository with its cash in a fed account. no asset-liability mismatch, no duration risk ๐ค
@CaitlinLong_
Bank of Finland says BTC is valueless cuz itโs only math wizardry, then claims CB-issued fiat has value because itโs created by โliquidity transformation,โ the most outrageous math wizardry ever. Sirs, our math wizardry is better than your math wizardry.
Iโm happy to share that Iโve joined
@novogratz
and the pros
@GalaxyDigitalHQ
as Head of Firmwide Research.
Weโre building a top-tier research team & I am hiring! DM if you are obsessed with
#bitcoin
& public blockchains & want to share with the world!
the
#bitkey
from
@CashApp
honestly is the simplest
#bitcoin
hardware wallet iโve ever used
this device FINALLY makes me confident enough to teach my 90+ year old grandfather how to self-custody
app + HW has 2 min setup, intuitive and simple design, excellent encrypted and
NFTs on
#bitcoin
built w/ inscriptions & ordinals will be a $5bn market within two years
our new whitepaper has everything you want to know about: all the data, the history, how they work, the controversy, modeling their impact on bitcoin, projecting growth
letโs dive in ๐
wow! the last two days (Aug 26, Aug 27) saw the highest transferred value (in USD terms) in
#bitcoin
history by a fairly wide marginโฆ $102bn yesterday, $94bn on thursday ๐ณ
bewildering note from matrixport
several of their supporting arguments are nonsensical
3 of their most confusing & questionable claims:
๐๐ผ that the bull run was kicked off by franklin templetonโs september ETF filing. they write: โthere was now more than one big traditional
JPM says BTC ETFs already exist in Canada & Europe and have had โlittle interest from investors since their inceptionโ
two biggest BTC ETFs in Canada have approx $1.3bn USD in combined AUM
US is 22x bigger stock market than Canada
$1.3bn x 22 = $28.6bn..sounds bullish to me ๐คท๐ผโโ๏ธ
the SEC is again reserving the right to claim dollar-backed stablecoins are โcrypto asset securities,โ despite dropping their enforcement against paxos and losing their MTD on BUSD against binance in july
this is the height of jurisdictional overreach
itโs quite absurd if you
we got some intel on the harris campaignโs current posture on economic policy, and who they are working with, from some bloomberg
@business
reporting this morning
deese and ramamurti are two key architects of the biden adminโs anti-crypto crusade, including chokepoint 2.0
the white house says biden will veto if congress sends a bill that overturns SEC's SAB 121.. interesting for several reasons
- amazing to see them get involved in this minutia
- dems and biden admin have been very friendly to big banks, and the big banks want SAB 121 overturned