Beef and Bitcoin Beef Andbitcoin

Today's episode covers Tesla's recent announcement to accept bitcoin as a method of payment for their vehicles with the intention of HODLing that bitcoin and not converting back to fiat. The Suez Canal incident has proven to be a single point of failure with a potential ripple effect across global supply chains, how inflation is making its way into lumber prices, real estate, and automobiles, and Fidelity's announcement of a bitcoin ETF filing.

Bitcoin broke $30,000 on January 2nd, and quickly went through $31,000 within the hour. Bitcoin breezed through $32,000 and then $33,000 before finally pulling back to $30,000 after this episode was finished recording.   Are institutional investors ready to take profits or just getting their first positions? Tune in!

This episode covers the 2021 outlook for bitcoin and what you can expect to see in the next year. Bitcoin has turned into a must own asset almost overnight, as it rallied over 300% in 2020. Well known investors and institutions are starting to express interest in btc and have put out price targets ranging from $50,000 to $400,000.   The borrowing and lending market for bitcoin has also gained traction in 2020 and is set to explode in 2021. Bitcoin rewards is also a growing trend expected in pick up steam in 2021. bitcoin rewards debits cards from Fold and the Cash App are seeing tremendous growth, while the BlockFi credit card is set to launch in early 2021.  Be sure to like and subscribe and leave us a comment below.

Elon Musk and MicroStrategy CEO Michael Saylor had an exchange on twitter about Tesla converting the USD on their balance sheet to BTC. Saylor suggests that the move would be a benefit to the TSLA shareholders and that other companies in the S&P500 would soon follow. Coinbase is also planning their IPO and will be the first unicorn company to IPO in the bitcoin space.  

https://twitter.com/michael_saylor/status/1340665067570913280?s=20

Join Brett and CH as they discuss the recent bitcoin price consolidation at $19k and how different it feels from 2017. They also discuss Michael Saylor's interesting comparison between real estate and bitcoin as a store of value and how things like maintenance costs and property taxes should be considered when comparing the two. All of this and more in today's episode.

This was recorded on Sunday July 27th, right before the break above $10,000. Topics include the altcoin pump/defi madness and the recent news that banks can now custody bitcoin and other digital assets. 

https://www.theblockcrypto.com/post/72628/us-bank-regulator-crypto-custody

https://twitter.com/PeterLBrandt/status/1287160790882099202?s=20