Dell CEO Michael Dell recently conducted a poll asking people to identify the most important factor among artificial intelligence (AI), love and relationships, and the crypto asset network Bitcoin. The poll concluded with Bitcoin receiving a majority of the more than 64,000 votes. Dell’s Poll on AI, Bitcoin, or Love and Relationships — Elon Musk […]
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Digital Scarcity — Billionaire Michael Dell and Michael Saylor Exchange Dialogue on Bitcoin
On June 20, Michael Dell, the Chief Executive Officer of Dell, the American technology company known for developing, selling, repairing, and supporting computers and related products and services, shared his thoughts on bitcoin via the social media platform X. This interaction began with a response from Michael Saylor, the founder of Microstrategy. Dell CEO Michael […]
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Billionaire Bitcoin Advocate Michael Saylor Agrees to $40 Million Settlement in Tax Evasion Case
The billionaire Bitcoin advocate Michael Saylor has reportedly agreed to pay million to settle an income tax evasion dispute with the District of Columbia Attorney General. The settlement ended the Attorney General’s lawsuit, in which it accused Saylor of falsely claiming to be a resident of Virginia or Florida to underpay taxes. D.C. Nets […]
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Microstrategy’s Michael Saylor States Spot Ether ETF Approval ‘May Be Better for Bitcoin’
Michael Saylor, Executive Chairman of Microstrategy, stated that the approval of several spot ether ETF proposals by the U.S. SEC might be good for Bitcoin. In “What Bitcoin Did,” Peter McCormack’s podcast, Saylor stated this approval gives rise to a crypto asset class, including several use cases like tokens, NFTs, and defi, with Bitcoin at […]
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Market Analyst Michael Oliver: Gold Is Entering a ‘Generational Event’ Bull Market Trend
Michael Oliver, the proprietor of Momentum Structural Analysis (MSA) – a research firm specializing in detecting momentum-based movements – believes the recent gold bull market rally might differ from the other gold rallies. Oliver stated that due to several factors, not investing in gold could mean missing “what will likely be a generational event.” MSA […]
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‘Big Short’ Investor Michael Burry Goes Hard on Gold, Invests $10 Million in Q1
Michael Burry, an investor famous for making a fortune by anticipating the 2007 subprime mortgage crisis, made a sizable bet on physical gold. According to regulatory filings, Burry’s Scion Asset Management purchased over 440,000 Sprott Physical Gold Trust units, a closed-end fund that invests and holds its assets in physical gold bullion. Big Short’s Investor […]
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Michael Saylor Foresees U.S. Pension Funds’ Bitcoin Adoption
Michael Saylor, co-founder of Microstrategy and a prominent Bitcoin advocate, recently suggested in a social media post that U.S. pension funds, which collectively manage approximately trillion in assets, will need to incorporate bitcoin into their portfolios. He stated, “There are thousands of pension funds in the United States managing ~ trillion in assets. They […]
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The Next Big Catalyst For Bitcoin? What Michael Saylor Predicts
In an interview with journalist Natalie Brunell, Michael Saylor, executive chairman and co-founder of MicroStrategy, laid out his vision for what could next propel the price of Bitcoin. His insights come at a time when the digital currency landscape is experiencing pivotal regulatory and institutional developments.
The Next Big Catalyst For Bitcoin Price
Saylor pinpointed the specific moment he believes heralded the onset of a new era for Bitcoin. “January of 2024 marked the beginning of the period of corporate adoption of Bitcoin,” he stated. The significance of this shift, according to Saylor, is tied closely to regulatory approvals and the distinctive path Bitcoin is carving for itself amidst a sea of digital assets.
The crux of Saylor’s argument is the US Securities and Exchange Commission’s (SEC) decision-making process regarding cryptocurrency spot Exchange-Traded Funds (ETFs). He described the SEC’s approval of Bitcoin spot ETFs as the “first big catalyst.” This regulatory nod not only legitimizes Bitcoin in the eyes of institutional investors but also enhances its appeal as a viable corporate treasury asset.
Now, Saylor argues that the next decisive moment will hinge on the SEC’s handling of other cryptocurrencies. “The second big catalyst will be the SEC’s denial of every other crypto application for spot ETFs,” Saylor explained. By denying these applications, the SEC would effectively position Bitcoin as the premier, unreplicated choice among cryptocurrencies, an outcome Saylor sees as critical for dispelling doubts about Bitcoin’s long-term viability and uniqueness.
“And when we actually see the regulators deny the applications of the copies of other crypto assets, then we will have checked the box. It won’t be banned, it won’t be copied,” Saylor remarked.
Expanding on the implications of such regulatory decisions, Saylor employed a metaphor involving the choice of materials in large-scale engineering projects. He compared the decision-making process in corporate investment in Bitcoin to choosing between steel or bronze for constructing a skyscraper.
“Once you realize there’s just steel and there is no second best metal for structural civil engineering, the project moves forward,” he noted. In this analogy, Bitcoin is likened to steel — the foundational material without substitute — clearing any hesitation about its adoption in corporate portfolios.
Should we be watching for another catalyst that will spur more #Bitcoin adoption?
"The first big catalyst was the SEC's approval of spot #ETFs for Bitcoin…the second big catalyst is going to be the SEC's denial of every other #crypto application for a spot ETF…" –@saylor… pic.twitter.com/4aKarg6eAS
— Natalie Brunell (@natbrunell) May 6, 2024
Notably, this narrative is timely as the crypto sector watches the SEC closely, particularly with regard to Ethereum, the second-largest cryptocurrency by market cap. The final deadline for the SEC to approve or deny the VanEck spot Ethereum ETF is May 23, 2024, a decision that has been postponed repeatedly.
Bloomberg’s senior ETF analyst, Eric Balchunas, noted a decrease in the likelihood of approval in March, citing a lack of communication between the SEC and ETF applicants, which he viewed as a negative signal for Ethereum’s immediate ETF prospects.
At press time, BTC traded at ,835.
Blockchain Space Continues to Evolve Even During Lean Periods, Says Michael Amar
The blockchain and crypto industry has never stood still including during the prolonged lean period known as the crypto winter, asserted Michael Amar, co-founder of the Paris Blockchain Week Summit. Amar believes the resilience shown by market participants during this period demonstrates a new level of maturity in the industry. Engagement Between Startups and Developers […]
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Michael Howell Predicts Continued Surge in Global Liquidity Benefiting Stocks, Gold, and Crypto
Crossborder Capital’s Michael Howell, a veteran in global finance, offered a liquidity-based view on the current state of the economy. He challenged the prevailing narrative of monetary tightening with evidence of a rise in liquidity, which in turn should uplift stocks, gold, and cryptocurrencies.
Michael Howell of Crossborder Capital Focused on Rising Global Liquidity and Its Market Impact
Michael Howell is the founder and CEO of Crossborder Capital, a London-based FCA registered, independent research and investment company with over billion assets under management. Previously he was Head of Research for Baring Securities and Research Director of Solomon Brothers. With a deep understanding of international finance and economics, Howell has become a prominent figure in analyzing global liquidity trends and their impact on markets. Recently, he appeared on Forward Guidance to shed light on the current macroeconomic landscape, emphasizing the continued rise in global liquidity and its positive effects on liquidity-sensitive assets such as stocks, gold, and cryptocurrencies. The whole episode is well worth a listen.
At the heart of Howell’s analysis is the observation that, contrary to popular belief, the Federal Reserve has been subtly injecting liquidity into markets. This covert approach stands in stark contrast to the narrative of monetary tightening that has dominated headlines. Despite a reduction in the Fed’s balance sheet last year, Howell noted that Fed liquidity actually increased by 12 to 15%. This trend is not just a fleeting phase but part of a longer-term pattern of monetary inflation, as central banks globally engage in what Howell described as shadow quantitative easing and shadow yield curve control.
He observed that the draining of the Reverse Repo (RRP) facility and the Bank Term Funding Program (BTFP) contributed significantly to the rise in Fed liquidity last year. He anticipates that central bank liquidity will continue to unlock, especially once the RRP is fully drained, and suggested that the BTFP could even be renewed.
Adding to the complexity of the situation is the U.S. Treasury’s strategic decision to shorten the maturity of its debt issuance. This move, Howell explained, mechanically reduced the private sector’s liquidity needs to absorb government paper, particularly aiding the banking sector in managing its systemic overexposure to duration.
All of this may point to a transition from a rebound phase to a calm phase. Howell noted that the financial sector and high-beta securities such as crypto tend to do their best in such calm phases.
Regarding cryptocurrency, Howell mentioned that there could be particular positive influences. He stated that cryptocurrency might be the younger generation’s preferred hedge against monetary inflation, a sentiment that aligns with the increasing interest in digital assets among younger investors. If true, crypto could move more than gold as the preferred vehicle for younger investors.
What do you think about Howell’s basic argument that a rise in global liquidity will generally benefit liquidity sensitive assets like stocks, gold, and crypto? Share your thoughts and opinions about this subject in the comments section below.