📌 BTC Hits $20K, Ethereum Futures Project, and the Politics of Crypto Regulation

December 16, 2020 | Issue #148

 MUST READS 

BTC Breaks Above $20K


This morning, Bitcoin broke past $20,000 for the first time ever, leaving us officially in uncharted territory. The number of days we've lived with a higher price than today's? ZERO.

Here’s how Bitcoin performed the last two times it broke new all-time highs:
  • 2014: In less than one year, Bitcoin went from $30 to $1,100 (up 3,500%)
  • 2017: In less than one year, Bitcoin went from $1,100 to $20,000 (up 1,800%)
  • 2020: Bitcoin goes from $20,000 to ???
Time will tell what happens next. But if history gives us any indication, we may be in for a ride...

What's more promising is that there's a flurry of bullish news coinciding with today's milestone (continue reading). Heck, even the technicals are positive.
 

New $1B Fund Created to Buy BTC With Support from One River CEO & Alan Howard


A hedge fund specializing in volatility bets has emerged as one of the largest investors in Bitcoin after quietly buying more than $600 million in cryptocurrencies.

Eric Peters, CEO of One River Asset Management, said in an interview he set up a new company to seize on the growing interest in cryptocurrencies among institutional investors. In addition to its initial purchases, One River has commitments that will bring its holdings of Bitcoin and Ether to about $1 billion as of early 2021, he said.
 

MassMutual Joins the Bitcoin Club With $100 Million Purchase


The Massachusetts-based mutual life insurance company has also joined the party this week by investing in Bitcoin.

In addition to the investment (only 0.04% of its general investment account), the mutual insurer also took a minority stake worth $5M in the Stone Ridge-owned crypto services provider, NYDIG.

MassMutual's spokesperson told Bloomberg that the $100M investment represents only the first step taken in the direction of Bitcoin investment, as the company considers exploring other opportunities ahead.
 

UK Investment Manager Ruffer Adds Bitcoin to Portfolio as 'Potent Insurance Policy'


Ok, last one, at least for this week...

Ruffer Investment Company, a $20 billion asset management company based in London announced that it allocated 2.5% of its funds to BTC.

Ruffer believes that BTC will be the saving grace when the world’s major currencies struggle in the midst of inflation. They noted they made the BTC allocation in November, after "reducing the company's exposure to gold." Read their announcement here.
 

 SPONSORED 

Government-fueled Crypto Bull Market Underway


U.S. regulators released a shocking letter recently that will impact the income, savings and wealth of every citizen.

And it’s set to open the floodgates to a new rally in the fastest-growing market in history.

Here’s how to get in on the action now…
 

 DEEP DIVE 

Ethereum Futures


The Block reported this morning that the CME Group just announced an Ethereum Futures product, paving the way for more institutional participation.
 

Invest in the Outcome of Lawsuits?


Suppose Alice (plaintiff) sues Bob (defendant) for damages of up to $250M. However, the lawsuit is expensive and not without risk. So, an investor, Charlie, gives $5M to Alice to pay for her legal costs in return for... say 20% of Alice’s collection after winning against Bob.

If Alice settles against Bob for say, $100M, then Charlie is now entitled to 20% of that recovery, or $20M. In this scenario, Charlie earned back 4x of his initial investment.

A scenario like this is now possible, all thanks to Avalanche's so-called Initial Litigation Offerings (ILOs). Learn more about the project here.
 

 SPONSORED 

CryptoList: A Hand-Researched List of Over 8,000 Companies and People in Crypto


Whether you’re launching your own crypto startup, looking to connect with industry leaders, or just investing in crypto, you’ll be sure to get value out of CryptoList.

CryptoList compiles 8,600+ companies and people in crypto with 4,500+ verified email addresses to get you access to the businesses and individuals that matter most to your business.

New subscribers can get $25 off CryptoList by using promo code: SNACKS
 

 REGULATORY FRONT 

🎥 [VIDEO]: The Politics of Crypto Regulation


Circle (USDC) CEO Jeremy Allaire appeared on CNBC Squawk Box on Dec. 7 to discuss and share his positive outlook on the future of crypto regulation and stablecoin issuance during the upcoming Biden administration.
 

It's Time to Make a Stand.


Americans are potentially about to be deprived of the opportunity to exercise their God given right to protect their private property. In this case, their bitcoin.
 

 TWEET OF THE WEEK 

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