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issue 21 - week of 03-07-21
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issue 21 - week of 03-07-21

curating the good stuff for the casual bitcoin enthusiast each week

Mar 7, 2021
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MicroStrategy Acquires Additional $10 Million in Bitcoin at Average Price of $48,888.
https://www.microstrategy.com/en/investor-relations/financial-documents/microstrategy-acquires-additional-10m-in-bitcoin-at-average-price-of-48-888_03-05-2021
The Frustrating, Maddening, All-Consuming Bitcoin Energy Debate.
https://www.coindesk.com/frustrating-maddening-all-consuming-bitcoin-energy-debate
Bitcoin. At the Tipping Point.
https://ir.citi.com/peFJTnzeEoMSIAEFlwH12VeM5d%2BCckWNrsO9lxpmyWezrz5V%2Bx%2FfRvm0gv6cWRpDHGWtIk7sTME%3D
Understanding Bitcoin. Does Bitcoin Belong in Asset Allocation Considerations?
https://institutional.fidelity.com/app/literature/item/9901337.html?pos=T
Goldman Sachs restarts cryptocurrency desk amid bitcoin boom.
https://www.reuters.com/article/us-crypto-currency-goldman-sachs-exclusi-idUSKCN2AT390
Dan Loeb Is the Latest Billionaire to Dive Into the World of Crypto.
https://www.bloomberg.com/news/articles/2021-03-01/bitcoin-btc-billionaire-investor-dan-loeb-says-doing-deep-dive-into-crypto
Software Firm Meitu Buys $22M of Ether, $17.9M Bitcoin for Its Treasury.
https://www.coindesk.com/software-firm-meitu-buys-22m-of-ether-17-9m-bitcoin-for-its-treasury
Cboe Seeks Approval to List Trailblazer Bitcoin ETF in U.S.
https://www.bloomberg.com/news/articles/2021-03-01/cboe-says-it-s-seeking-approval-to-list-bitcoin-etf-in-u-s
Kentucky bill to provide tax breaks for local crypto miners.
https://cointelegraph.com/news/kentucky-to-provide-tax-breaks-for-local-crypto-miners
Bitcoin vs Ethereum.
https://danheld.substack.com/p/bitcoin-vs-ethereum
Bitcoin and the Separation of Money and State.
https://bitcoinmagazine.com/culture/bitcoin-and-the-separation-of-money-and-state
More Institutional Investors Jumping Into Bitcoin Leaves Less to Go Around, Data Shows.
https://www.coindesk.com/more-institutional-investors-jumping-into-bitcoin-leaves-less-to-go-around-data-show

media

Bloomberg. Bitcoin is Going to Infinity - Kraken CEO.
https://www.bloomberg.com/news/videos/2021-03-04/bitcoin-going-to-infiniti-kraken-ceo-video
Podcast. The Bitcoin Standard Podcast: Bitcoin and Fiat Debt
https://the-bitcoin-standard-podcast.castos.com/episodes/38-bitcoin-and-fiat-debt
Youtube. Dr. Adam Back and Preston Pysh - E12
Podcast. Pomp Podcast 502: Bitcoin as the Apex Predator with Robert Breedlove.

tweets

Twitter avatar for @100trillionUSDPlanB @100trillionUSD
Some misunderstanding about #bitcoin relative strength index (RSI). This chart shows 200WMA and RSI (basically a moving average, but indexed at 0-100). Note that in 2013 the high RSI (orange/red) period was 10 months and in 2017 8 months. We are now in month 4: bull just started.
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March 6th 2021

922 Retweets4,165 Likes
Twitter avatar for @denverbitcoinπŸ”Adam OπŸ” @denverbitcoin
My favorite bitcoin chart. Bitcoin price each halving cycle. You are here ⭕️
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March 7th 2021

42 Retweets218 Likes
Twitter avatar for @BTC_ArchiveBitcoin Archive πŸ—„πŸš€πŸŒ” @BTC_Archive
#Bitcoin bull markets typically have 3 waves. We have just completed wave 1. In 2017 #Bitcoin went up 7.5x from the peak of wave 1 to the peak of wave 3. That would take #Bitcoin to $315k if it repeated the same pattern.
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March 6th 2021

275 Retweets940 Likes
Twitter avatar for @glassnodealertsglassnode alerts @glassnodealerts
πŸ“‰ #Bitcoin $BTC Exchange Inflow Volume (7d MA) just reached a 4-month low of 1,608.682 BTC Previous 4-month low of 1,612.202 BTC was observed on 09 December 2020 View metric:
studio.glassnode.com/metrics?a=BTC&…
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March 6th 2021

1 Like
Twitter avatar for @RaoulGMIRaoul Pal @RaoulGMI
BTC - Feels like yet another wedge...
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March 5th 2021

355 Retweets3,212 Likes
Twitter avatar for @DocumentingBTCDocumenting Bitcoin πŸ“„ @DocumentingBTC
Chamath Palihapitiya on #bitcoin when it was worth $142
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March 5th 2021

692 Retweets2,854 Likes
Twitter avatar for @BTC_JackSparrow//Bitcoin 𝕡ack 🐐 @BTC_JackSparrow
Coinbase just had another 12K outflow Reserves down close to 50K over the course of 6 weeks, around 2% of what is stored at exchanges combined
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March 5th 2021

102 Retweets742 Likes
Twitter avatar for @BTC_JackSparrow//Bitcoin 𝕡ack 🐐 @BTC_JackSparrow
Chart shows diminishing velocity / returns per cycle confirmed by a well defined trendline on log scale, for bitcoin However, traditional cycle top signals are not flashing yet Any continuation higher breaks the diminishing returns trend this cycle Nice visual to the idea
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March 4th 2021

35 Retweets257 Likes
Twitter avatar for @ki_young_juKi Young Ju 주기영 @ki_young_ju
Taker Sell Volume for all derivative exchanges looks helpful to catch the local bottoms. After a dip, $BTC price looks likely to bounce back in the short term when the volume goes above 150M USD. Not fully back-tested, just eye-catching tho. Chart πŸ‘‰
cryptoquant.com/overview/full/…
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March 4th 2021

186 Retweets1,037 Likes
Twitter avatar for @ki_young_juKi Young Ju 주기영 @ki_young_ju
People have PTSD about mass-dumping. But don't worry, we're good now. Two whale dumping indicators said there are fewer whales compared to the past. The bull-run is likely to continue. Details πŸ‘‰
dataguide.cryptoquant.com/quick-start/wh…
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March 3rd 2021

229 Retweets1,486 Likes
Twitter avatar for @BTC_ArchiveBitcoin Archive πŸ—„πŸš€πŸŒ” @BTC_Archive
2017 Bull Market: On-exchange #Bitcoin supply accelerated as the price went up - then supply continued to increase even in the bear market. Something changed in 2020; and it’s been 13 months of declining supply since then - even at record prices. Yes, this time is different.
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March 3rd 2021

101 Retweets414 Likes
Twitter avatar for @ki_young_juKi Young Ju 주기영 @ki_young_ju
Whales accumulating $BTC. They are making a lot of bear traps lately, but the price seems to recover the institutional buying level, 48k. Looking at recent Coinbase outflows, most of the outflows that went to custody wallets were at 48k price. Chart πŸ‘‰
cryptoquant.com/overview/full/…
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Ki Young Ju 주기영 @ki_young_ju

I think it will eventually go above 48k which is the institutional buying level, so I bought more $BTC here at 46k. Not sure about short-term price moving tho.

March 3rd 2021

286 Retweets1,266 Likes
Twitter avatar for @woonomicWilly Woo @woonomic
Chart: The increase in Bitcoin users visible on its blockchain per day. Retail investors arrived in Jan. Like prior cycles, I expect this peak to top out higher than the ones before it. Gives you an idea how this bull market is just warming up. Data: @glassnode
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March 3rd 2021

874 Retweets4,090 Likes
Twitter avatar for @CryptoBullCryptoβ‚Ώull @CryptoBull
a quick history lesson #Bitcoin
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March 2nd 2021

504 Retweets1,447 Likes
Twitter avatar for @cryptounfoldedunfolded. @cryptounfolded
According to @glassnode HODL waves, 3.3m #Bitcoin or 17.87% of circluting supply hasn’t been moved for over 7 years.
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March 2nd 2021

114 Retweets563 Likes
Twitter avatar for @ArcaneResearchArcane Research @ArcaneResearch
Another opportunity to buy the dip? The SOPR metric has been reliable for "buy the dip" opportunities in bull markets. Are investors getting another chance this week? Read more in our weekly report tomorrow:
bit.ly/3b67kG6 Data: @glassnode
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March 1st 2021

5 Retweets25 Likes
Twitter avatar for @gaborgurbacsGabor Gurbacs @gaborgurbacs
1) #Bitcoin #ETF update: @CBOE submitted the 19b-4 application to trade the shares of the @vaneck_us Bitcoin Trust. It’s time for U.S. regulators to step up to the plate and approve a Bitcoin fund. Europeans have ETPs. Canadians have ETFs. ETFs bring many benefits to markets...
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March 1st 2021

73 Retweets279 Likes

missed last week

The Dimensions of Money.
https://yakes.io/the-dimensions-of-money/
If you think we’ve missed something important, please send it to us and we’ll be sure to add it to next week’s newsletter… And please share!
See you next week!
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