Forbes - ‘Sociopathic Grandpa’ 👴

CryptoCodex


	Happy Friday! Billy Bambrough here, getting you up to speed with the bitcoin and crypto latest. (I'm on the road this month so you may receive your copy of *CryptoCodex* a little early/late—apologies in advance for any disruption and normal service will resume the week beginning April 18) 📧 Thank you for reading CryptoCodex! I’d love to hear your feedback, ideas and tips. Email me directly at billy@billybambrough.com.


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24-hour crypto market snapshot

Bitcoin (+0.5%)

$43,570

Ethereum (+2%)

$3,276

Luna (-4%)

$101.54

Near (+22%)

$18.81

No news is good news 🗞️


	Cryptocurrency prices remain deflated this morning despite the flood of big announcements coming out of Bitcoin 2022 (see below for details). This morning, the European Union has banned the provision of high-value crypto-asset services to Russia as part of the latest sanctions salvo in response to the invasion of Ukraine. Coindesk has the story. Bitcoin is flat on this time yesterday while ethereum is up by around 1%. Ethereum rival solana is leading the market higher, up 3%, while Terra's luna is tumbling, down 4%. Further down the charts, Near Protocol's near coin, now the 16th largest cryptocurrency by value, is up 22%, adding to gains earlier this week, on new product launches and fresh investment. Now read this: Crypto and gaming collide in high-risk 'play-to-earn' economies

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Bitcoin 2022 round up 💫



	PayPal founder and tech investor Peter Thiel was one of yesterday's headline speakers at Bitcoin 2022. © 2022 Bloomberg Finance LP


	🚨🚨 Here's a round up of the latest headlines from the Bitcoin 2022 conference in Miami... Thiel's burn book: Peter Thiel, the Trump-backing Silicon Valley firebrand whose personal philosophy of individual responsibility helped shape the internet into what it is today via PayPal and Facebook, announced what he called an "enemies list" of anti-crypto investors, threw a wad of $100 bills into the crowd while lambasting fiat currency (then mocked those who scambled for the cash), predicted that bitcoin would increase 100-fold from today’s price and that traditional financial markets would eventually crumble. Top "enemy of the people" is legendary Berkshire Hathaway investor, the Oracle of Omaha, Warren Buffett who Thiel called a "sociopathic grandpa." Buffett has repeated dismissed bitcoin and crypto as a scam and a fad. JPMorgan Chase CEO Jamie Dimon and Blackrock CEO Larry Fink also got name-checked, denounced for running a "gerontocracy"—a society ruled by old people. Read the full story on Forbes. Mallers disappoints some... Amid Twitter-based speculation and rumor that Strike chief executive Jack Mallers would announce a partnership with Apple Pay, Mallers actual announcement that his digital payments platform built on Bitcoin’s Lightning Network, is integrating with e-commerce company Shopify left some cold—and certainly didn't help the crypto market any. A victory lap: MicroStategy CEO Michael Saylor and Ark Invest CEO Cathie Wood, both of whom have raked in huge gains from the crypto bull run this past 24 months, lapped up the adoration of the crowd and (surprise, surprise) are now even more bullish on crypto than ever. Saylor, who now controls around $6 billion worth of bitcoin via MicroStategy said U.S. president Joe Biden’s recent crypto executive order is "a green light to bitcoin." Home away from home: Former chief strategy officer at bitcoin development company Blockstream, Samson Mow, announced two new jurisdictions would be adopting bitcoin as legal tender; the Caribbean island of Roatán and Madeira, an autonomous region of Portugal. Cashing in: U.S. Cash App users can now put some or all of their direct-deposit paychecks into bitcoin as Jack Dorsey's Block (formerly Square) continues to dive deep into the world of bitcoin. All in: Mexican billionaire Ricardo Salinas revealed he now holds 60% of his entire liquid investment portfolio in bitcoin, up from 10% in December 2020. Look out today for... a fireside talk with controversial psychologist Jordan Peterson, a keynote speech from bitcoin bull Mike Novogratz and a presentation by Thiel Capital director Eric Weinstein. Now read this: Inside the bitcoin bust that took down the web’s biggest child abuse site

Meanwhile, in DC...

⚠️ Secretary of the Treasury Janet Yellen delivered her first major address on the potential risks and benefits of cryptocurrency yesterday, spelling out the risks posed to people and the broader economy by bitcoin, crypto and non-fungible tokens, adding the crypto industry should operate on the same level, and facing the same rules, as the traditional U.S. financial system. MarketWatch has a write-up.

🗣️ "Digital assets may be new, but many of the issues they present are not," Yellen told attendees of an event at American University’s Kogod School of Business Center for Innovation. "We have enjoyed the benefits of innovation in the past, and we have also confronted some of the unintended consequences."

💵 Yellen also warned the development of a U.S. central bank digital currency (CBDC), sometimes called a digital dollar, would likely take years if the U.S. chose to create one. Yellen's speech follows a Biden administration executive order on cryptocurrencies, signed by the president in March, which directed agency coordination on broad frameworks for cryptocurrency policy.

Now read this: The infuriating reality of traveling with bitcoin in the world's crypto capital

	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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Forbes - ‘Sociopathic Grandpa’ 👴

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