Beyond Bitcoin – DeFi, NFTs & Smart Contracts

Crypto is headed mainstream”. Some of the reasons are:

• Oct 2020 was the kick start for this bull run when PayPal announced it would accept bitcoin. Visa & Venmo follow suit
• Last week Coinbase crypo exchange IPOs US$86B
• 10 years of bitcoin and no flaws in the tech found
• Transaction friction being solved by funds Grayscale ($38B in Bitcoin), Morgan Stanley and ETFs
• ETFs: 2 in Canada (2), 1 in Brazil (1), 8 applications for ETFs in the USA, Aust – numerous ETF applications with ASIC
• MicroStrategy bought $5B bitcoin as its treasury strategy.
• Tesla bought $1.5B as its treasury strategy.
• Last week BlackRock (world’s biggest asset manager) CEO Larry Fink says “Crypto could be a great asset class. We are watching, we are investing and we have made money on it.”
• Bitcoin is known as Millennials Gold. They love it as they see the QE from sovereigns reducing the value of fiat currency
• Bitcoin has very little free float & so demand may outstrip supply
• Decentralised finance (DeFi) and NFTs are creating create & valuable use cases for crypto
• However crypto is still very risky