Why Novo Is Still Betting On $20k BTC In 2020

Plus an interesting twist on the bitcoin narrative and growth in the privacy-conscious

Happy Friday, Blockfolians

The Lede

We’re living in unprecedented economic times. In that context, you might think that people would be less willing to make public price predictions. Not so for Galaxy Digital’s Mike Novogratz, who said on CNBC’s Closing Bell on Thursday that “this is the year of bitcoin” and that if it doesn’t test all time highs, he might have to “hang up his spurs.”

It’s a hell of a bet, but then, fortune favors the bold.

Lil Bubble - When Moon? (Mad World - Bitcoin Parody) - YouTube

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Highly Relevant Reading

  • The Maker Foundation has unveiled a self-governed DAO approach to governance and has said it will start dissolving two years from now.

  • In the wake of price reduction, manufacturers are selling some bitcoin mining equipment at a discount.

  • Cambrial Capital becomes the latest crypto hedge fund to shut down in the wake of last month’s market turbulence.

  • Binance has quietly scrubbed all references to Visa on their Binance card website.


Community Commentary

A great point about the bitcoin narrative: it may not be hyperinflation in the US but currency devaluation elsewhere that drives adoption.
A fiery summary by Meltem Demirors of a fiery op-ed by Nic Carter

A Really Big Number We Should Be Paying Attention To

1,000,000

That’s the number of new monthly active users the privacy-focused Brave browser added last month. Seems like some folks are more actively thinking about their privacy in this time of encroaching surveillance.


Final Thought

What’s your version of 2.0?