Happy Friday, Blockfolians
What a week. Bitcoin smashes through $15,000. Prediction markets completely out perform the pollsters.
Hiding in among all of the news onslaught was this juicy little nugget. For the first time, Square reported more than a billion dollars in quarterly bitcoin revenue. And it wasn’t just a smidge over $1B either.
$1.63B in revenue - 11x annual growth
$32M in bitcoin profit - 15x annual growth
This growth shows continued steady increases in consumer interest in bitcoin. With the price rises that we’ve seen this week, that’s sure to do nothing but increase.
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Highly Relevant Reading
Bitcoin isn’t the only thing growing - Grayscale’s ETH trust hits $1B
Fidelity is hiring crypto engineers
$1M worth of tokens was just frozen on Compound
Federal Reserve announces absolutely nothing new
It’s not retail. Not yet.
It’s too good.
Paul Krugman @paulkrugmanI am surely not the only person experiencing a fair bit of cryptofreude -- pleasure in watching the Bitcoin etc bubble deflate. Bitcoin cultists tend, after all, to be nasty as well as crazy; not all of them, but surely above the average 1/
A Really Big Number We Should Be Paying Attention To
Remember those Silk Road linked coins we talked about the other day? Turns out the US seized them - biggest digital asset seizure ever.