Happy February, Blockfolians!
The Lede
Elon Musk caused quite the stir late last week when he changed his Twitter bio to a single word: #Bitcoin.
He also followed it with this cryptic tweet:
The market loved it - jumping about 10% following the tweet. While those prices came back down over the weekend, Elon followed this up with some further thoughts in his first ever Clubhouse chat.
I do at this point think bitcoin is a good think. I am supporter of bitcoin. I am late to the party but a supporter. Bitcoin is on the verge of getting broad acceptance by traditional finance people.
All that’s left is for him to announce that Tesla or SpaceX have put treasury into BTC.
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Highly Relevant Reading
Grayscale’s Ethereum Trust is open for business
Robinhood has raised an additional $3.4B amid activity surge
DEXes have a record $50B month
Crypto subreddit membership is skyrocketing
Community Commentary
CoinDesk is headed to NASDAQ - valuation $50B?
WTF is actually happening with WallStreetBets?
A Really Big Number We Should Be Paying Attention To
$906B
That was the total exchange volume on crypto exchanges last month, up 140% compared to December.
Final Thought
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