Welcome Back to the Rollercoaster
Happy Monday, Blockfolians
The Lede
Just in case you had gotten a little too comfortable with the idea that bitcoin only ever goes up, this morning’s price action was a fun little jolt.
After another crazy weekend that saw the price of BTC get as high as $58,300, it crashed this morning all the way to under $50,000 on some exchanges before settling down between $53,000 and $54,000.
Astute observers will note that at these corrected prices, BTC remains a $1T asset - a goal that was barely imaginable a few months ago. Still, with more coins moving onto exchanges again, it may be that we’re in for some more turbulence ahead.
Buckle up friends, and enjoy the ride!
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Highly Relevant Reading
BNY Mellon hires Fireblocks for custody solution
MoneyGram cuts ties with Ripple around SEC lawsuit
Janet Yellen still out here critiquing BTC
Weekly bitcoin tweet volume has hit a new ATH
Community Commentary
Is this Satoshi’s Twitter account?
An important new piece from Alex Gladstein
A Really Big Number We Should Be Paying Attention To
$421.8M
That’s the inflows of Canada’s BTCC Bitcoin ETF in its first two days - a staggering amount that puts it on track to be Canada’s biggest ETF in 20 days.
Final Thought
<chef’s kiss>