Happy Monday, Blockfolians
Sometimes, a tweet says it all.
In all seriousness, this is a great milestone. Check out CoinDesk’s chart showing the other high points.
This stat does two things:
First, it shows that bitcoin is able to remain stable in periods of an extreme lack of clarity in the markets as a whole. That’s confidence inspiring for those on the sidelines.
Second - and speaking of confidence inspiring - every time bitcoin achieves a new price floor that is higher than the last, it increases the conviction of long-term holders , who then reinforce that price floor by buying any time BTC dips below it.
See the beautiful feedback loop?
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Highly Relevant Reading
After much anticipation, blockchain storage project Filecoin is launching to mainnet in October
Binance’s ‘decentralized’ alternative to Libra - Venus - is unveiled
Ocean becomes latest token to fork to cut off access to $150m Kucoin hacker
Uniswap hits milestone; becomes first DeFi protocol with $2B locked
Is the future of DeFi in structured products?
Uh oh, seems like some think the Kucoin hack was closer to $280m
A Really Big Number We Should Be Paying Attention To
That’s the size of Bitwise’s bitcoin fund - more than double this year, thanks to investor concerns around post-monetary injection inflation
See, it’s not just crypto that does wacky speculative financial engineering things.