Bitcoin Hits $100k - Here's Why...

Hi Reader,

This is one of those unscheduled but important emails.

Bitcoin has broken above $100k USD and is currently trading above $103k.

The surge comes on the back of our weekly email yesterday where we outlined that MicroStrategy has continued to purchase bitcoin (holding over 402k BTC) and recently presented to the Microsoft board on why they should convert their $122B+ in cash reserves into bitcoin.

Even more recently, Jerome Powell, head of the US Federal Reserve compared bitcoin to gold, outlining that it is not a threat to the US dollar as a currency.

These are significant comments coming from the man who arguably has the most influence over the post powerful currency in the world, the US dollar.

Bitcoin has been fully and irrevocably legitimised. It is no longer a career or reputational risk to hold bitcoin.

Bitcoin is for long-term investors and today marks a huge milestone for those that have been able to withstand the drawdowns over the years.

If you are still thinking about gaining long-term exposure or want to find out about our insured custody offering for bitcoin and other digital assets, then please reach out for a confidential discussion.

Best regards,
James

James Brannan
Chief Executive Officer
BlockByte Capital
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(+61) 412 393 634
​james@blockbyte.com.au​
​https://blockbyte.com.au/​

BlockByte does not provide financial advice. We provide execution support, research and insured custody for investing in digital assets. Reach out to our team to discuss how we can help.

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