Webx2024特别观察：蓄势待发的日本加密市场

区块律动2002-09-24 tarihinde yayınlandı2024-09-02 tarihinde güncellendi

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Sailor: Refusal to integrate Bitcoin with the banking system and market 'condemns it to only 1% of its potential'

Saylor, Chairman of MicroStrategy, reiterates his long-standing argument via X that Bitcoin's long-term value depends on its integration into the existing financial system, not on existing outside it. He stated that refusing integration with banks, depositories, stock markets, and governments deprives the world of 99% of Bitcoin's benefits, limiting it to just 1% of its potential. This philosophical stance aligns with real-world developments, such as Citigroup's plan to launch institutional Bitcoin custody in 2026 and moves by major banks like Morgan Stanley into digital asset services. MicroStrategy, the largest corporate Bitcoin holder, exemplifies Saylor's view and its risks. It holds 843,775 BTC, purchased for ~$63.69B at an average of $75,482 per coin. Despite a current valuation loss, Saylor signals continued purchases. The company is also shifting its strategy, increasingly positioning its Bitcoin holdings as collateral for financial products like its STRC preferred shares, targeting the multi-trillion dollar private credit market.

cryptonews.ru4 dk önce

Sailor: Refusal to integrate Bitcoin with the banking system and market 'condemns it to only 1% of its potential'

cryptonews.ru4 dk önce

Critical Analysis of Bitcoin (BTC): Trading Below Its Value But Showing No Bullish Signals! Here's Why

Critical Analysis of Bitcoin (BTC): Trading Below Value but Lacking Bullish Signals Bitcoin surged past $65,000 as military tensions between the US and Iran eased, positively impacting altcoins like Ethereum, Solana, and XRP. This week is pivotal, with the Federal Reserve's interest rate decision due. Analyst Axel Adler notes Bitcoin's MVRV Z-Score, a valuation benchmark, has hit a multi-year low but remains above negative territory. This indicates Bitcoin is trading in a zone historically considered below its true value, yet a full-scale capitulation typical of past bear market bottoms has not occurred. The current Z-Score is around 0.42, well below its historical average of 1.7 but not yet negative. While Bitcoin's 7-day realized profit/loss trend has turned positive, signaling reduced selling pressure on-chain, Adler cautions this alone is insufficient to confirm a new bull cycle. He concludes that Bitcoin is currently closer to a "stabilization phase of undervalued Bitcoin" than a confirmed cycle bottom. For a sustainable uptrend, stronger on-chain demand, increased profitability, and aggressive accumulation by long-term investors are still needed alongside reduced selling pressure.

cryptonews.ru6 dk önce

Critical Analysis of Bitcoin (BTC): Trading Below Its Value But Showing No Bullish Signals! Here's Why

cryptonews.ru6 dk önce

Are Larger Funds Associated with Worse Returns? Micro-Funds + SPVs Are Becoming the New Standard in VC

The traditional 10-year blind-pool VC fund is being challenged by a hybrid model: small managers using lean "micro-funds" alongside deal-by-deal SPVs for follow-on co-investments. This structure lowers blended fees for LPs and allows GPs to focus on early-stage investing. The article argues this "small fund + SPV" approach is mathematically and incentive-wise superior to a single large fund. It highlights how better infrastructure has reduced SPV operational costs, and growing LP demand for co-investment rights is driving adoption. A survey of 56 GPs shows high SPV usage, primarily for follow-on capital, with LP-friendly terms (0-0.5% management fee, 16-20% carry common). The model aligns GP incentives with fund success, as micro-funds enable focus on early-stage, high-conviction bets without pressure to chase larger, later rounds. The shift towards more co-investment represents an evolution away from over-extended fund terms and misaligned fee structures.

marsbit9 dk önce

Are Larger Funds Associated with Worse Returns? Micro-Funds + SPVs Are Becoming the New Standard in VC

marsbit9 dk önce

Weekly Data Recap: S&P Pantera Index Launches, Robinhood Chain Volume Climbs to Top 4

Weekly Data Recap: S&P Pantera Index Launches, Robinhood Chain Volume Ranks Fourth This week saw a mixed performance for risk assets amidst internal reshuffling. Bitcoin closed slightly down at $64,444, while Ethereum gained 0.6%. A key development was the launch of the S&P Pantera Digital Assets Index (SPPDA), co-created by S&P Dow Jones Indices and Pantera Capital. This 18-token benchmark index, powered by Artemis's revenue and supply data, filters for protocols with actual revenue and weights constituents by market cap. Notably, Bitcoin and XRP were excluded due to the revenue requirement. Meanwhile, Robinhood Chain, an Arbitrum Orbit L2 launched on July 1st, surged to become the fourth-largest chain by DEX volume with $4.7B weekly trading. However, analysis reveals a gap between its intended purpose and current reality. While marketed for tokenizing real-world assets (RWAs) like stocks, the chain is currently dominated by memecoin trading, accounting for ~75% of DEX volume. Robinhood's own stock tokens represent only 4.2% of the chain's $595M TVL, with 70% locked in third-party protocols like Morpho and Ethena. Uniswap commands a near-monopoly (98%) on the DEX layer. The launchpad pons.family captured most activity, generating fees roughly five times the chain's total gas fees. Robinhood currently earns basic transaction fees, while third-party applications capture significant economic value, illustrating a "fat app, skinny chain" dynamic. Other notable developments include Hyperliquid's open interest hitting a record $11.4B, consistent weekly inflows into Ethereum ETFs (~$104M), and the end of a six-week outflow streak for Bitcoin ETFs. Regulatory news included the LSE announcing a 24/5 trading venue and the SEC scheduling a roundtable on 24-hour stock trading, while the GENIUS Act's implementation was delayed to 2027.

marsbit12 dk önce

Weekly Data Recap: S&P Pantera Index Launches, Robinhood Chain Volume Climbs to Top 4

marsbit12 dk önce

Investor Michael Burry is confident that the market has adjusted its attitude towards AI

Investor Michael Burry believes the market has already delivered its verdict on major tech companies' investments in artificial intelligence. Investors are now favoring companies with high profitability over those making significant capital expenditures. According to a Bloomberg chart shared by Burry, Wall Street has reduced investments in many of the tech firms investing most heavily in AI. Companies like Alphabet, Amazon, Microsoft, Meta, and Oracle have underperformed the broader market since early June. Alphabet, despite having the highest projected capital expenditures for the next 12 months, was the worst performer. Another chart shows that forward price-to-earnings ratios for Nvidia, Microsoft, Amazon, Alphabet, and Meta have declined from recent peaks as investors reevaluate AI investment prospects. Burry commented, "The market has voted, and the results are clear." This shift in sentiment has pressured the "Magnificent Seven" stocks, with a related ETF down 3.37% year-to-date. Notably, venture capitalist Chamath Palihapitiya defended Alphabet's AI spending, citing its history of high returns on invested capital. Alphabet's Class A shares closed at $319.74, gaining 0.65% on Friday and rising another 1.56% in pre-market trading on Monday.

cryptonews.ru15 dk önce

Investor Michael Burry is confident that the market has adjusted its attitude towards AI

cryptonews.ru15 dk önce

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