The Houston Firefighters’ Pension Fund announced crypto investment last week to become the first US institution to disclose an allocation to digital assets. While there has been speculation of institutional investor participation, the $25m investment in bitcoin and ether by the $5.5bn asset fund, is the first official announcement. Could this event lead to the […]
bitcoin institutional adoption
Social Security Insolvency is Looming
Dispatch #29 – 2021 September 10th, 2021 Looming Social Security insolvency, highlighted in the 2021 Trustees Report, is the lead story this week. The retirement Trust Fund (called old-age insurance) is set to run out in 2033 and the Medicare Trust Fund will be empty even earlier in 2026. How’s that for just around the […]
Why yields rise, Wall Street bitcoin adoption & bitcoin skeptics.
Dispatch #7 – 5 March, 20201 I was hoping to write about something other than yields this week, but the issue isn’t going away quietly! If yields rise, it is likely to dominate all asset markets, with the US$ rising along with higher US yields and risks markets selling off. Equity markets did rally on […]
Dispatch #4: Tesla, BNY Mellon & Mastercard adopt bitcoin/crypto
A slew of high-profile institutional adoption news this week moved the bitcoin price from the $38K area on early Monday (Feb 8th) morning to the ~ $48K range as I type on Friday morning. BNY Mellon’s announcement is most significant for continued institutional adoption, in my view, but it’s hard to argue that Tesla’s $1.5bn […]