Happy Monday, Blockfolians
Well, there it is. For the third time in its young life, the bitcoin block reward has been cut in half -this time, from 12.5 BTC to 6.25 BTC.
For months, there has been a debate raging about whether or not the halving was priced in. We ran a series of poll questions inside the app about what people thought about halving.
Last week, the conversation received a new push into the financial mainstream when legendary hedge funder Paul Tudor Jones came out with his strong pro bitcoin thesis.
The Tudor Jones news was a good reminder that the halving point isn’t only significant for its impact on the business model of miners that secure the bitcoin network, but as a schelling point that creates narrative context for new market entrants.
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Highly Relevant Reading
The European Central Bank is working on a “retail central bank digital currency”
Former CFTC Chair Crypto Dad on why a tokenized dollar would be beneficial in our current economic situation
Bitcoin rewards startup Lolli raises $3m, led by Founders Fund
Grammy winning RAC has launched a tokenized cassette tape with the Ethereum-based Zora marketplace. Rad.
Vijay tries to settle the “is it priced in?” debate once and for all. Unfortunately we’ll probably be debating this all the way to 2024 and beyond.
Monetary economist JP Koening looks at the prospect of a Fedcoin. Good read for anyone interested in the emergent area of central bank digital currencies.
A Really Big Number We Should Be Paying Attention To
That’s the percentage of his assets that Paul Tudor Jones has in bitcoin, as revealed on CNBC this morning. That’s a big chunk, when you consider he’s worth more than $5b.
Ex Treasury Secretary Lawrence Summers says the problem with money is that there is too much privacy. Yeahhhhh, not so sure about that one, Larry.