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	Good Thursday morning. This is Billy Bambrough, getting you up to speed with the bitcoin and crypto latest. 🎧 In the new Odd Lots podcast episode, Liar's Poker and The Big Short author Michael Lewis revealed his experience with bitcoiners in 2014 turned him off cryptocurrency—and that he still hasn't found a main character that would drive a future crypto boom book.


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24-hour crypto market snapshot

$44,850

$3,253

$0.887

$0.00003321

Big waves and choppy waters 🌊


	Cryptocurrency prices are on the up this morning, with bitcoin breaking above $45,000 earlier before dropping back slightly. Ethereum is up 3%, with Ripple's XRP leading the major market higher, up almost 4%. Over the last week, bitcoin has added just over 20%, XRP 50%, avalanche 36% and dogecoin rival shiba inu a blistering 62%. There's still a long way to go before the market recovers to its November peak of $3 trillion but momentum is back with the bulls. Look out today... for some potential market-moving economic numbers. In the U.S., the latest inflation figures are expected to show the U.S. consumer price index grew 7.3% year over year, a 40-year-high, while core CPI increased 0.5% on the previous month compared with 0.6% in December. Meanwhile, across the pond, the European Union will publish eurozone economic forecasts. Now read this: Kidnapped for crypto

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BlackRock arrives 🪨



	BlackRock chief executive Larry Fink has grown the investment company to around $10 trillion in assets under management © 2021 Bloomberg Finance LP


	Rocking the boat: BlackRock, the world’s largest asset manager, is reportedly gearing up to enter the cryptocurrency market, according to hot-shot Coindesk reporter Ian Allison, who cited three people with knowledge of the plans. Why it matters: Over the last year, Wall Street and financial giants have begun to dip their toes into crypto markets and industries but remain highly cautious with many saying they're happy to wait until the regulatory landscape is less murky before jumping in. BlackRock's looming arrival is a sign institutional momentum is growing as they eye the huge amount of money being made by crypto companies. "[BlackRock] sees all the flow that everyone else is getting and want to start making some money from this," one source told Coindesk. Whales surfacing: Earlier this week, the Canadian branch of accounting giant KPMG announced it had added both bitcoin and ethereum to its balance sheet, while Elon Musk's Tesla said the value of its bitcoin holdings had grown to more than $2 billion. Cave of wonders: According to one Coindesk source, BlackRock will allow its clients to trade cryptocurrency through its sophisticated Aladdin investment management platform, while a second person "with knowledge of the plans" said BlackRock is "looking to get hands-on with outright crypto" and was "looking at providers in the space." Good to know: Workers are apparently leaving Silicon Valley giants for crypto and web3 endeavors

RBI boss prefers tulips to bitcoin 🌷


	👎 India's authorities, even after the country removed uncertainty about the legal status of crypto trading, are still not on board with digital assets. 🗣️ "Investors in cryptocurrency should keep in mind that they are investing at their own risk," India’s central bank Governor Shaktikanta Das, a long-time crypto critic, has been quoted by Bloomberg. "They should also keep in mind that the cryptocurrency has no underlying, not even a tulip," referring to the 17th-century Dutch tulip bulb market bubble. 🎰 At the beginning of February, following months of speculation India could follow China in an all-out crypto ban, finance minister Nirmala Sitharaman announced a steep 30% crypto tax that will see digital assets treated in the same way as gambling winnings. Now read this: ‘Hackers helped me find my lost bitcoin fortune’

Fitch ditches El Salvador 🗑️


	👇 Just weeks before the bitcoin capital of the world, El Salvador, is due to issue the world's first bitcoin bond, rating agency Fitch has downgraded the country's long term foreign-currency issuer default rating to CCC, down from B-. 📝 The U.S. rating agency pointed to El Salvador's "policy unpredictability" and the "adoption of bitcoin as legal tender” as some of the factors that led to the downgrade. 💸 El Salvador is facing almost $1.2 billion worth of external debt amortizations in 2023, with $800 million due in January, according to Fitch, whose analysts noted the country is also facing a financing gap of $1.2 billion in 2022, which would rise to $2.5 billion in 2023. Good to know: Salesforce is working on NFT cloud service

	Billy Bambrough
	Forbes Senior Contributor

I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.

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