Highlights from Michael Saylor's speech at Bitcoin 2024
1. The world economy is based on outdated 20th century ideas and technologies. New ideas and technologies are needed to thrive in the 21st century. The modern financial system is slow and expensive. For example, stock markets operate for limited hours and weekend transactions are impossible.
2. Of the $900 trillion in global wealth, about half ($450 trillion) is held as long-term capital. This is the portion that Bitcoin could potentially replace. So far, Bitcoin only holds 0.1 per cent.
3. Traditional financial and physical assets are subject to inflation, taxes, depreciation and other factors that reduce their value over time. And Bitcoin is a digital asset that is immortal, immutable and intangible. It solves the problem of capital preservation.
4. Saylor offers different strategies for investing in Bitcoin, from the diversified portfolio to the triple maxi, which invests everything in bitcoin and even takes out loans to buy it.
5. Sailor predicts that by 2045, bitcoin could be worth $13 million per coin and represent 7 per cent of the world's assets.
6. The first country to start buying Bitcoin will have a huge advantage.
7. Saylor suggests that AI and new technologies will boost the economy, but Bitcoin remains key to solving financial problems.
8. Saylor concludes that Bitcoin is the ‘cyber Manhattan’ where hundreds of trillions of dollars of capital will flow in the future.
https://www.youtube.com/watch?v=O9KnBcWMkpw
The Abstract Testnet is now live
Abstract is a ZK rollup using EigenDA to build the Pudgy Penguins NFT ecosystem.
https://x.com/AbstractChain/status/1816926655740305775
Bybit Launchpool has introduced L3, the utility token of Layer3.
Event Period: Jul 30, 2024, 10:00 UTC – Aug 6, 2024, 10:00 UTC
1. L3 Pool
- Total Rewards: 5,000,000 L3
- Minimum Staking Amount: 3,500 L3
- Maximum Staking Amount: 166,667 L3
2. MNT Pool
- Total Rewards: 3,333,333 L3
- Minimum Staking Amount: 100 MNT
- Maximum Staking Amount: 5,000 MNT
3. USDT Pool
- Total Rewards: 8,333,334 L3
- Minimum Staking Amount: 100 USDT
- Maximum Staking Amount: 2,000 USDT
L3 Listing: Jul 30, 2024, 10:00 UTC
https://announcements.bybit.com/article/bybit-launchpool-stake-l3-usdt-or-mnt-to-earn-a-share-of-16-666-667-l3--bltabe96891ec92d8f0/
$108 billion VanEck CEO says he owns “way over 30%” of his portfolio in Bitcoin
https://x.com/BitcoinMagazine/status/1816848786284532133
OKX and Bitget will list Layer3 (L3) on July 30th at 10:00 UTC
https://x.com/layer3xyz/status/1816750114142134748
💧Current state of the market in our weekly overview
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Sophon added AZUR, USDT, WBTC pools for farming
https://x.com/sophon/status/1815767060774834329
Spot ETF Flow for 25.07: BTC-ETF +$31.1M, ETH-ETF -$152.4M
https://farside.co.uk/?p=1518
Jersey City is in the process of allocating its pension fund to buy Bitcoin ETFs, according to Mayor of Jersey City
https://x.com/StevenFulop/status/1816452663191450015
VanEck predicts Bitcoin could hit $2.9 million by 2050
The report says, that BTC will represent 10% of international trade settlement and 5% of GDP.
Meanwhile, it will reach a 2.5% weight in international currency reserves.
https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-bitcoin-2050-valuation-scenarios-global-medium-of-exchange-and-reserve-asset/
Clearpool launches on Arbitrum with USDC 18 million of loans already originated to Bastion Trading and Flow Traders
Clearpool has also received a grant in ARB from the Arbitrum Foundation to support the protocol's growth and technical development.
https://x.com/clearpoolfin/status/1816460289992458352
The Jito Foundation has released the code for Jito Restaking, a next-generation hybrid staking, restaking, and LRT module.
1. Vault Program manages the creation and operation of Liquid Restaking Tokens (LRTs), supports any/multiple SPL tokens as the underlying asset.
2. Restaking Program facilitates the creation and management of AVS’s and operators, coordinates the relationships between AVS’s, operators, and vaults
https://www.jito.network/blog/announcing-jito-restaking/
Michael Novogratz’s Galaxy Raises $113 Million for a New Crypto Venture Fund
The firm will continue to fund raise to meet $150 million target.
It will seek to build a portfolio of approximately 30 investments.
https://www.bloomberg.com/news/articles/2024-07-25/michael-novogratz-s-galaxy-raises-113-million-for-a-new-crypto-venture-fund
Proton, the Switzerland-based company, better known for its secure email, VPN and storage services, is now launching its crypto wallet Proton Wallet
https://techcrunch.com/2024/07/24/proton-releases-a-self-custody-bitcoin-wallet/
The crypto market is neutral
BTC Dominance - 55.05%
Market Cap - $2.44T
BTC - $67,989.19 (+0.2%)
ETH - $3,240 (-0.29%)
BNB - $580.9 (-0.51%)
ZRO - $4.49 (-2.46%)
ZK - $0.1587 (-0.38%)
STRK - $0.532 (-0.18%)
W - $0.2932 (+0.88%)
https://dropstab.com
Gemini co-founder Tyler Winklevoss said that the next SEC chair must be named before US election
https://cointelegraph.com/news/united-states-sec-chair-reveal-election-cryptocurrency-industry-gemini-tyler-winklevoss
Spot ETF Flow for 26.07: BTC-ETF +$51,8M, ETH-ETF -$162,7M
https://farside.co.uk/?p=997
The crypto market is growing
BTC Dominance - 54.94%
Market Cap - $2.44T
BTC - $67,864.21 (+1.32%)
ETH - $3,249.81 (+0.02%)
BNB - $582.7 (+0.81%)
ZRO - $4.6 (+1.76%%)
ZK - $0.1588 (-0.09%)
STRK - $0.532 (+1.76%)
https://dropstab.com
Bitstamp distributed all BTC and BCH to Mt.Gox creditors
https://x.com/Bitstamp/status/1816844789716861390
Synnax is launching its Telegram mini app SynQuest in August
https://x.com/synnaxtech/status/1816821487258788205
💧 Top DEXs by Trading Volume Growth in the Last Week
👉 https://dropstab.com/categories/dex
Asset manager Blackrock sees “very little interest” among clients in crypto beyond Bitcoin (BTC) and Ethereum (ETH) and doesn’t foresee many crypto exchange-traded funds (ETFs) outside of those two core digital assets, according to Robert Mitchnick, BlackRock’s head of digital assets, speaking at the Bitcoin2024 conference on July 25 in Nashville, Tennessee.
https://cointelegraph.com/news/blackrock-foresees-very-little-interest-crypto-etfs-beyond-bitcoin-ethereum-bitcoin2024
RFK Jr. says he'd make the government buy $615 billion in Bitcoin
If elected, Kennedy says he wants the United States’ Bitcoin reserves to match its gold reserves.
https://decrypt.co/241670/rfk-government-buy-615-billion-in-bitcoin
Illuvium is now live
https://x.com/illuviumio/status/1816537026734297109
https://illuvium.io/play-now
The crypto market is growing
BTC Dominance - 54.93%
Market Cap - $2.41T
BTC - $67,020.02 (+4.55%)
ETH - $3,236.47 (+2.38%)
BNB - $578.1 (+3.77%)
ZRO - $4.52 (-0.54%)
ZK - $0.159 (+0.67%)
STRK - $0.522 (+1.64%)
AVAIL - $0.1923 (-7.51%)
https://dropstab.com
aPriori, a liquid staking platform building on the Monad blockchain, has raised $8 million in a seed funding round led by Pantera Capital.
Other investors in the round included Consensys, OKX Ventures, CMS Holdings, ABCDE, Gumi Cryptos Capital, Flow Traders, Laser Digital, Chorus One, Everstake Capital and Staking Facilities, aPriori said Thursday. Angel investors, including Spencer Noon of OurNetwork, Marc Tillement of Pyth Network, Robinson Burkey of Wormhole Foundation, TN Lee of Pendle Finance and Zano Sherwani of Jito Labs, also joined the round.
The seed round brings aPriori's total funding to $10 million. Last year, the project raised $2 million in pre-seed funding co-led by Hashed and Arrington Capital.
https://www.theblock.co/post/307499/monad-liquid-staking-platform-apriori-100-million-token-valuation-funding
Neo announces that the Neo X MainNet is officially live
More details about Neo X:
▫️dBFT Governance
For the initial period following MainNet launch, the Neo X network is going to be driven by StandBy validators to ensure consensus process stability and proper network connectivity.
▫️Ethereum Virtual Machine compatibility
The Neo X MainNet node version is based on the v1.13.11 Geth node implementation with the Shanghai hardfork supported as the latest one from the list of newly-added Ethereum forks.
▫️Enveloped transactions
▫️Native bridge
The US $20 million Neo X Elevate Program will drive ecosystem growth, providing essential resources and support to projects and developers.
https://neo.org/blog/details/4311
Morpheus, a decentralized AI project from Lumerin, goes live on Arbitrum test network
https://www.coindesk.com/tech/2024/07/25/morpheus-decentralized-ai-project-from-lumerin-goes-live-on-arbitrum-test-network/
Net inflows in ETFs for 24.07: BTC-ETF +$44.5m, ETH-ETF -$133.3m
https://farside.co.uk/?p=1518