#Bitcoin #BTC - Break of lower channel support at around 16500-17000 shall take it to 1750-1800

Massive price erosion in cryptos a very likely outcome. This shall spill over to equities as well but not to same extent.

When short term gets confusing, zoom out to long term charts. #Nifty

#CNXIT still must do a minimum 52K++ (to complete its move from Oct 2001 low) & therefore any dip between 26K-29K is a good buy zone. Also has mid-line support right there (previously resistance).

Personally have bought #Infy #Wipro #TechM this week - Will add these and other front line IT stocks in near term.

https://t.co/kWHHSWdlw2 #GoldStandard #Bitcoin #BTC
#Covidstroika

1/ @Square buys $50M of #Bitcoin w/ its balance sheet 🚀

let's untangle what corporate treasurers do and why this matters...

the role of corp treasurer didn’t exist until the 1970s, when co's faced high inflation and financial uncertainty

2/ in this environment, companies with no cash management or treasury strategy were losing 10-12% / yr to inflation

modern corporate treasury is typically focused on cash management and managing the opportunity cost of capital

holding cash is *not* a strategy

3/ when i worked in corp treasury, we mostly traded the overnight and short term rate markets

we could earn a nice 3-5% return in these very low-risk assets w/ time preference

treasurers today are living in a radically different world!

RATES ARE 0

TARGET INFLATION IS >2%

4/ faced with this new reality, corporate treasurers (and all investors) are looking at alternatives

#Bitcoin is a highly liquid asset that trades 24/7 in an increasingly regulated and structured global market - and its an effective portfolio diversifier!

5/ Square’s willingness to hold bitcoin on its balance sheet as a treasury asset speaks to:

(1) the changing landscape that treasurers must navigate, and;
(2) their ability to manage the operational, risk, and compliance requirements of holding bitcoin directly

1/ Everyone knows that time is money. In the digital realm, however, money is also intricately related to time. It has to

2/ Among other things, money solves a coordination problem. Trading a single good against others solves the combinatorial explosion of a barter economy. It is a scalability solution that allows coordination across large groups of people.

3/ The two basic forms of money are ledgers (made of information) and physical tokens (made of atoms). Physical tokens keep track of themselves. Ledgers need someone who is in charge.

4/ In the informational realm, only ledgers exist. And to make sure that transactions on a ledger are in order, a concept of time is required. In other words: Tokens are timeless, ledgers are not.

5/ A decentralized system can't rely on our human concept of time. A trustless, non-local time is required. Trustless, because we must not introduce a third party. Non-local because we don't have the luxury of a central frame of reference.

1/ Thread explains the rationale for $GBTC over #bitcoin. (Speaking from experience, but not necessarily an endorsement of GBTC):

2/ $GBTC fills a need and is designed to permit exposure to #bitcoin for professional, registered investment advisors in the US. Money managers have unique circumstances compared to individual investors.

3/ #Imagine you are an investment mgr with 250 client accounts (an average-sized separate account manager would have 400). Owning #bitcoin means setting up another 250 accounts - major work with not a lot of reward. If you want to rebalance (stocks/bonds/bitcoin)...

4/ you have 250 transfers to make. Doubles admin workload, makes operational life very complicated. Lots of work for a 5-10% allocation (or less!) to $BTC.

5/ Client reporting is a nightmare. 2 sets of custodian statements not easily combined... A typical client already has 3 accounts, now it is 6 accounts & 6 statements, and there are few software feeds to consolidate data from #crypto exchanges into traditional portfolio reports.