'Retiring on Bitcoin' has a whole new meaning
GM, we take the latest Web3 news and translate it into plain old English - so you can stay up to date, without your eyes glazing over.
In today’s edition:
'Retiring on Bitcoin' has a whole new meaning
Crypto is the new alcohol
RESOURCE: Pomp teaches the value of Bitcoin in under 12 mins
What in the world is an ETF and why are they so important to crypto?
Terms used (click for translation):
Blockchain, NFTs.
'Retiring on Bitcoin' has a whole new meaning
Using blockchain technology on an individual level is easy when compared to using it at a corporate level.
Corporate integration of blockchain technology is kind of like trying to assemble Ikea furniture without a guide.
...it's hard enough as it is, but without it, the 'ERSNÄS Sideboard' that is your business, is at risk of turning out a little wonky.
That's because there's very little regulatory guidance on how to operate a business using blockchain technology without the chance of one day finding yourself in court with the SEC.
The trail blazer / trend setter / or 'Fonzie' (if you will) of crypto in corporate America, is Michael Saylor.
He's been onboarding blockchain technology into his business and helping others do the same, for a few years now.
And now that Fidelity Investments (America’s largest provider of 401k savings accounts) is letting companies offer their employees the option of adding Bitcoin to their retirement funds, Saylor and his company Micro Strategy are going all in:
“It is less risky than bonds, stocks, commercial real estate, than gold—it was kind of built for this”.
“I think Fidelity has put their finger on an issue.”
This feels like a quaint new development within a dry industry (we hear you, '401k' is the verbal equivalent valium).
But every little step towards blockchain ubiquity within corporate America is a big leap forwards for the broader industry.
Crypto is the new alcohol
Not that it's addictive. Although, the argument could be made...
No. It's more that, for years, the go-to strategy for celebs to diversify their investments and make Scrooge McDuck amounts of money, was to create a liquor brand.
It was essentially ground zero for influencer marketing:
D’USSÉ Cognac — Jay-Z
Casamigos Tequila — George Clooney
Teremana Tequila — Dwayne Johnson
Aviation Gin — Ryan Reynolds
King St. Vodka — Kate Hudson
The list goes on...
Nowadays, it looks like the focus of celebrity endorsed/owned businesses is shifting to the world of crypto.
Brazilian soccer player (yes, yes it's 'football' in the UK, we hear you) Ronaldinho has recently partnered with PooLs to create his '$RON' token.
A statement from the company elaborated on the token's use case:
"The $RON token will allow holders to fully immerse themselves in Ronaldinho’s universe, from exclusive content, events and merchandize to token-gated channels and NFTs".
Add this to a growing list, including Justin Bieber, Snoop Dogg and Gwyneth Paltrow's investment in MoonPay (a crypto payment company), alongside David Beckham's recent NFT trademark filings and you start to see a greater trend...
Celebrities are betting on the future of crypto, with their names and their cash.
Resource of the day
Pomp teaches the value of Bitcoin in under 12 mins
Gotta catch ‘em all - Pokemon NFT Drop [Sponsored]
So, remember a few days ago when we bought an NFT from Koia?
The one that got us part ownership in a real world Rolex?
Well, they’re just about to do another drop!
…and this one’s our favorite so far:
It’s a 1999 Pokemon Base set Booster Box Unlimited (sealed)
Available from April 30th 2022
Time: 3pm UK BST / 10am Eastern Time (EDT)
Price: $20 per NFT
Total value: $15,000
If this is:
A) Getting you all nostalgic
or
B) Allowing you to forgive yourself for dropping your box of old trading cards [including 2x early Charizards] at the thrift store two years ago, after you watched ‘Tidying Up with Marie Kondo’...
Then click the link below to access the drop the moment it goes live!
What in the world is an ETF and why are they so important to crypto?
This linked article is about the Bitcoin ETF that has just launched in Australia.
You may have heard folks talking excitedly about how a Bitcoin ETF could pump up the price of BTC.
But what exactly are they on about?
An ETF is a fund that buys a bunch of different assets within an industry (eg: a tech ETF might buy shares of Apple, Microsoft, Google etc.)
They do the research and allocate the right amount of funds to each purchase, so you don't have to.
We love that. More time for us to watch swedes building log cabins on YouTube (...no? just us?).
Big companies love using ETF's for a similar reason, they can put their money in and let someone else do the work.
Another reason they love ETFs (and this is how it relates to Bitcoin) is that there are clear regulatory guidelines on them, so these investments won't put them in a court room.
That's why everyone is getting excited about Bitcoin ETFs.
They allow BIG money to come in, buy shares in a Bitcoin ETF, the ETF managers use those fund to buy Bitcoin, and no one gets sued.
Hooray!
Righto. So everyone is excited that a few stodgy investors can now buy Bitcoin in a weird roundabout way?
Sort of. What they're really excited about is the estimated TRILLIONS of dollars these folk are looking to put into Bitcoin.
Your Daily Dose of Web3
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Buenos Aires allows residents to make tax payments with crypto
Alright, that’s it for today!
Love to the family,