MAJR Newsletter 089
Welcome to Miami. The Bitcoin City of Tomorrow.
@haydiroket
Bitcoin Conference 2021 | Miami, FL
The biggest Bitcoin conference to date kicks off today in Miami, FL. The sold out event will have over 12k in attendance who bought tickets ranging from ~$1,000 - $20k per ticket. It’s the 3rd largest live event in the US for Eventbrite scheduled for 2021. The conference is loaded with some of the industry’s biggest names ranging from Congressman Dr. Ron Paul, Tony Hawk, Senator Cythnia Lummis, Michael Saylor, Jack Dorsey, Congressman Warren Davidson, Miami Mayor Francis Suarez, Mike Novogratz, Jeff Booth, the Winklevoss Twins, 2020 Presidential Candidate Brock Pierce and your favorite Bitcoin content creators - Preston Pysh, Anthony “Pomp” Pompliano, Robert Breedlove, Peter McCormack, John Vallis, and many more.
The topics that will be covered include - A Hyperbitcoinized World, Monetary Freedom, Building a Lighting Business, The History of Money, Bitcoin and the Creator Economy, Banking the Unbanked, Bitcoin is DeFi, Institutionalization of Money, Bitcoin: A Better Battery for Renewable Energy, The Moral Case for Bitcoin, How Not to Lose Your Bitcoin, How to Become a Bitcoin Whale and many more.
The bitcoin price has been trending up and is currently ~$39k…let’s see where we are post conference.
MAJR NEWS BRIEF
Miami Mayor Francis Suarez wants Miami to become, “The Bitcoin City.” He’s discussed publicly about putting BTC on the city’s balance sheet. The city has been forward leaning with regard to keeping the city open during the pandemic and having a “mask-light” city environment. He’s now hosting the biggest bitcoin conference in history to plant a flag for innovation in hopes of ushering more capital investment, jobs and entrepreneurs to the city of Miami. He even has the bitcoin whitepaper hanging in his office and on the city’s website. We’ve included a video of the Mayor discussing his thoughts on bitcoin below.
Leadership is the other side of the coin of loneliness, and he who is a leader must always act alone. And acting alone, accept everything alone. - Ferdinand Marcos
IN OTHER NEWS:
Google’s new policy allows crypto companies and exchanges that have cleared rigorous regulatory hurdles to post ads. DeFi protocols, ICOs and companies prompting the purchase and sale of tokens is still not allowed on Google.
The ECB sees the benefits from digital currencies and stablecoins - fast clearance and settlement times, cross border payments - and alludes to the fact they will need their own digital currency to compete.
Institutional investor inflows are starting to come back into digital assets and staking tokens like Ethereum and Polkadot gaining exposure. Goldman Sachs reporter notes Ether as a store of value given its vibrant DeFi ecosystem.
Exodus completed a $75M SEC-approved Reg A+ offering earlier this year. The sold shares are being converted to tokens on the Algorand blockchain. Reg A+ offerings are SEC approved safe harbors for token offerings similar to an ICO (Initial Coin Offering), only the company has 3 years to become completely decentralized before they have to register as a security, which is no small penny. The Reg A+ route is smart but expensive and takes time.
Solana’s fast blockchain is growing fast with an ever growing ecosystem, now equipped with the Shopify for NFT launches, Metaplex. $0.03 to mint an NFT and $3 to auction. Remember one of the things that makes NFTs special is digital scarcity…low cost doesn’t incentivize scarcity…but perhaps that’s not as important for some users.
So much capital is flowing into crypto companies. Novogratz and Angermayer look to invest $100 million into crypto funds.
Norway’s industrial heartland, the billionaire owner of one of the country’s biggest corporate empires has emerged as a Bitcoin enthusiast. Kjell Inge Rokke, majority shareholder in Aker ASA, says Bitcoin will end “on the right side of history,” and the CEO of Aker hinted that the company might take payments in bitcoin.
There’s a labor shortage and politicians are surprised, and now trying to come up with creative ways to get people back in the labor force like new wok bonuses and temporary increased wages for those who stop accepting generous unemployment benefits and find a job.
Great article written by Paul Vigna in the WSJ breaking down the flow of funds and users into DeFi (decentralized finance) that’s been powering a lot of the crypto boom on Ethereum, and using a ton of leverage too. There’s ~2% of leverage in the $49 trillion stock market while there’s ~6% leverage used in the $1.6 trillion crypto market. This is one of the main reasons for dramatic booms and busts.
FACTS
Sun tan lotion was invented in Miami.
Miami is the most southerly major city in the continental United States.
The Miami Heat basketball arena is now the FTX Arena named after the FTX crypto exchange.
TOP STORIES
BITCOINBitcoin price on the rise ahead of cryptocurrency conference, Fox Business
Bitcoin May Yet See ‘Breakthrough,’ Norway Finance Minister Says, Bloomberg
Is bitcoin the best place for your money?, Market Watch
CRYPTOInvestors cautiously re-enter crypto funds while ETH vehicles show strength, Cointelegraph
Search giant Google lifts 2018 ban on crypto exchange, wallet advertisements, Cointelegraph
Bitcoin Wallet Exodus to Tokenize $75 Million in Company Stock on Algorand, Decrypt
'Shopify for NFTs' Launches on Solana Blockchain, Decrypt
Angermayer, Novogratz Firm Eyeing $100M Investment in Crypto Funds, Coindesk
DeFi Is Helping to Fuel the Crypto Market Boom—and Its Recent Volatility, WSJ
MACRODerby’s Take: As Fed Officials Weigh Taper, Mortgage-Buying Could Be Point of Contention, WSJ
Fed to Sell Corporate Bonds and ETFs Acquired During Covid-19 Crisis, WSJ
Labor Shortage Draws Attention of U.S. Lawmakers, WSJ
ECB says digital euro may be needed to combat 'artificial currencies', Cointelegraph
MEDIATurning Miami into a Bitcoin City, with Miami Mayor Francis Suarez
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THIS IS NOT FINANCIAL ADVICE. IT’S IMPORTANT TO DO YOUR OWN RESEARCH. INVESTING IN CRYPTOCURRENCY OR ANYTHING FOR THAT MATTER COMES WITH RISK. THE INFORMATION PRESENTED IN THIS NEWSLETTER IS FOR INFORMATION AND ENTERTAINMENT PURPOSES ONLY.