The Billionaires Are Bullish!

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The market correction and consolidation continues, but despite the cool down we’re still in a bull market. Patience is the key here, the macro level charts such as the stock to flow model still shows we are on track and a key indicator is Bitcoin’s price is still above the 200 week moving average.

This past week we saw multiple billionaires come out and endorse crypto. Here is a breakdown.

• David Rubenstein, co-founder and co-executive chairman of the Carlyle Group went on CBNC and said “Crypto is here to stay”. (source)

• U.S. billionaire and one-time cryptocurrency skeptic Carl Icahn is contemplating a potential $1.5 billion investment in digital currencies. The activist investor said he’s looking at investing in crypto in “a relatively big way,” clarifying that “big” could mean “a billion dollars, billion-and-a-half.” (source)

• Billionaire Ray Dalio revealed that he owns Bitcoin after being a long time skeptic. Ray is the founder of the world’s largest hedge fund Bridgewater Associates. (source)

This is bullish in my opinion and indicates that many of the institutional players have already taken a position in crypto. They would not simply come out and endorse something unless they had already positioned themselves to make money.

Some other bullish news is Fidelity’s Bitcoin Fund has raised $102 million from wealthy investors since launching in August 2020. (source)

Interviews Recap

• Propy CEO Natalia Karayaneva & Michael Arrington - History is about to made with Michael Arrington selling his Kiev apartment via an NFT. Propy is helping to execute the buying and selling. We discuss how this will all work, definitely worth watching as this will be a core feature for the future of Real Estate.

Interviews in the process of being scheduled

• Fred Thiel - CEO of North American Bitcoin miner Marathon Digital

  

Crypto Taxes

Are you tracking your taxes for your Crypto trading? Be sure to do so, I personally use TaxBit to help me prepare my crypto taxes which I then share with my accountant. Visit TaxBit’s website to learn more.

-Tony

Disclaimer - Thinking Crypto and Tony are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This newsletter is for educational purposes and NOT investment or financial advice.