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📺 Previous Vids 📺
► Corporate Bitcoin Adoption: https://www.youtube.com/watch?v=b7BP6hU7AQw
► Bitcoin vs. Gold: https://www.youtube.com/watch?v=qctnB6DHMLA
► Biden & Bitcoin: https://www.youtube.com/watch?v=Bot0M5hXC0c
– TIMESTAMPS –
1:50 Insurance Funds
4:17 Pension Funds
5:24 Custodian Demand
8:17 Corporate Demand
10:34 Central Banks
13:13 Bitcoin Updates
17:30 Regulatory Risk
⛓️ 🔗 Helpful Links 🔗 ⛓️
► Mass Mutual JP Morgan: https://www.bloomberg.com/news/articles/2020-12-14/jpmorgan-says-massmutual-s-bitcoin-foray-signals-widening-demand
► BCG Report Insurers: https://www.bcg.com/en-us/publications/2020/global-asset-management-protect-adapt-innovate
► Pantera Report: https://panteracapital.medium.com/bitcoin-shortage-172a9205dc0
► TapRoot Activation: https://taprootactivation.com/
► CoinJoin: https://en.bitcoin.it/wiki/CoinJoin
🤵 Institutional Adoption 🤵
Large investors are piling into the asset class as they seek to diversify their risk away from their traditional allocations
We recently heard the news that Mass Mutual had invested a cool $100 million of fund money into Bitcoin. However, given that they are an insurance company, this means that the investor profile of Bitcoin has changed and moved away from hedge funds and other risk seeking investors
Mass mutual has over $234 billion in assets under management which is 65% of the entire market cap of Bitcoin. However, it ranks about 7th compared to some of the other larger US based insurers
This is only those US based insurers. The number becomes that much larger when you look at all the insurance companies in the world. There is also the possibility that Pension funds could look into Bitcoin which would have immense demand implications
🏢 Custodian & Corporates 🏢
There are three companies that are likely to be the biggest players in crypto next year. These are Grayscale, PayPal and Square
Looking at Grayscale for example, Already they have accumulated 10 billion dollars worth of Bitcoin. That is about 3% of the total BTC that is currently outstanding
The pace at which these guys are buying up Bitcoin is so fast that on some months, their purchases outpace the amount of Bitcoin that is being mined
Then of course you have to factor in PayPal and Square which need to hold the Bitcoin on behalf of their users
Then you also have to factor in some of those large corporates on the S&P500 who may want to diversify their Fiat balances.
💵 Central Banks 💵
Foreign central banks hold a variety of reserve assets but a large percentage of that is of course US dollars. However, holding dollars means that they are susceptible to the risk of dollar depreciation through inflation.
They could choose to diversify away their dollar holdings to other fiat currencies however that would mean that they are still at the mercy of other bankers. This is why they could consider other scarce assets such as Bitcoin.
Given that Bitcoin has more “store of value” properties than gold it could mean that these central banks will now turn to this as a way to preserve their reserve assets.
🖥 Bitcoin Updates 🖥
There are a number of Bitcoin Improvement Proposals on the cards which could increase the privacy and useability of the cryptocurrency.
Schnorr signatures will mean that transactions will be grouped which will reduce the risk that comes from tracing your transactions. You also have an upgrade in Bitcoin’s programming language through TapScript. This will allow for more complicated scripts to be run on Bitcoin.
These BIPs are likely to be implemented in early 2021 through a soft fork as miners have indicated their interest in supporting it. You also have to consider the increasing tokenization of Bitcoin.
There is now over 2.6 billion dollars of BTC wrapped in tokens such as WBTC, RenBTC and numerous others.
These tokens have essentially unlocked the entire Defi world for Bitcoin hodlers. They have also created a medium through which users can easily send Bitcoin much more cheaply and faster than they could do on chain.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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