New Long Term Altcoin

Market Meditations | January 22, 2021

I’m planning to make a new long term bet. I’ll even share my exact entry strategy at the end.

Dear Meditators

Something special for the weekend…

I’m planning to make a new long term bet. In today’s newsletter, our premium community will get first access to this. 

✅ I’ll even share my exact entry strategy at the end.

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  • Brazil’s Top Exchange Announces Expansion After Raising $38m ?
    Brazil’s most popular exchange Mercado Bitcoin has announced a regional expansion across Latin America. Chief executive Reinaldo Rabelo said that the exchange is now ‘going to look at the other markets, like Chile, Mexico and Argentina, which have a regulatory culture closer to ours.’ The exchange also raised nearly $38 million from venture capital firms including Parallax Ventures, Evora Fund, and Banco Plural and wants to ‘create a market as developed as that of the United States.’ Read more.

  • New Filing From Grayscale Hints at 5 More Cryptocurrency Trusts ?
    Grayscale Investments is the world’s largest digital asset manager with more than $25 billion in Net Assets Under Management (AUM) currently. The new trust funds when launched will offer investors exposure to the following digital assets: Chainlink, Basic Attention Token, Decentraland, Livepeer and Tezos. However, the firm has not yet officially announced the new single-asset trust funds. Read more.

  • Multbillion-Dolar Microstratey Are Buying the Dip ?
    The Nasdaq-listed Microstrategy (NASDAQ: MSTR), with over $5 billion in market cap, has bought 314 more bitcoins. CEO Michael Saylor announced Friday: “Microstrategy has purchased approximately 314 bitcoins for $10.0 million in cash in accordance with its Treasury Reserve Policy, at an average price of approximately $31,808 per bitcoin. We now hold approximately 70,784 bitcoins”. Saylor has been one of bitcoin’s most bullish proponents in the institutional space. Read more.

  • BIS Aims For New Platform to Test CBDCs ?
    Months after Bank for International Settlements (BIS) posted a job announcement requiring a “host” of blockchain experts to join BIS Innovation Hub, the international financial institution’s Innovation Hub today stated its priorities and plans for 2021. It focuses on six key areas, among which the entity has included central bank digital currencies (CBDCs) among its newly launched projects. Read more.

  • Bitmex’s Bitcoin Balance Has Dropped More Than 60% Since March 2020 ?
    Bitmex’s market share and bitcoin balance have taken a serious hit in recent months. Two major events, the March 2020 sell-off and the October 2020 lawsuits by the U.S. Department of Justice and CFTC seem to have had a negative impact on the exchange. Bitmex, once the dominant derivative exchange in crypto, lost 13% of its market share in terms of open interest and their bitcoin balance sheet has declined more than 62% since March of last year. Bitmex now also has a mandatory KYC program, which also had an impact on the exchange’s web traffic. Read more.

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Disclaimer: The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. I am not a financial advisor. Every investment and trading move involves risk. Do your own research when making a decision.