At first blush, it certainly looks like the bank failures may have driven the bitcoin rally higher. Bitcoin and the crypto sector overall had already experienced a crushing drawdown, and the bank failures highlight the fragility of our current debt-laden economic system. However, a deeper look shows that higher beta tech stocks have done just […]
Bitcoin futures liquidation
Crypto tax refresher as regulatory scrutiny spikes
Dispatch #25 – 2021 July 30th, 2021 This is a holiday-shortened edition of the Dispatch that provides a mid-year tax refresher for US readers. The key message is that YOU are responsible for keeping track of the cost basis and calculating gains/losses. There’s rising bipartisan support to crack down on crypto tax avoidance and the […]
Crypto downdraft as Tether reserves & regulatory news add to worries
Dispatch #16 -2021 May 21st, 2021 The lead story this week is the crypto downdraft, which reminded participants about the downside of volatility. The action reinforces the importance of positioning size to be able to absorb volatility: Bitcoin had the first ever $10K daily move on May 19th! The Musk tweet, highlighted in Dispatch #15, […]
Fidelity Bitcoin pricing model
Dispatch #12 -2021 April 23rd, 2021 The leading story this week is the Bitcoin pricing model published by Fidelity’s Jurrien Timmer. This study incorporates the exponential demand curve with the already well understood exponential supply decline. He uses the mobile phone adoption curve to model how the Bitcoin price may evolve over the long term. […]