But it was by no means stable ride up.
2020 was a historically volatile year.
@YoungCryptoPM and I provided a detailed overview of every month of 2020 in all its glory.
https://t.co/qZZWdNBbTm
Excited to share our 2020 #Bitcoin review.
2020 will be remembered as the year the long fabled institutions finally arrived and #Bitcoin became a bonafide macroeconomic asset.
Below are the top highlights of each month for Bitcoin’s historic year.
1/
But it was by no means stable ride up.
2020 was a historically volatile year.
@YoungCryptoPM and I provided a detailed overview of every month of 2020 in all its glory.
https://t.co/qZZWdNBbTm
3 days into the new year the US assassinated Iran’s top general Soleimani.
BTC surprisingly reacted to the events behaving like a safe haven as the risk of war increased.
The events provided the first hints of BTC potentially having graduated to a legitimate macro asset.
COVID-19 reached a tipping point causing markets to crash.
BTC’s correlation with the S&P 500 reached an ATH in the following weeks.
This is when everyone learned BTC was not a recession hedge, it was a hedge against inflation and loss of confidence in fiat currencies. https://t.co/JB7dJ3qp6M
1/ Figure I should get out ahead of this issue:
— Dan McArdle (@robustus) June 22, 2018
Bitcoin is a hedge against inflation & loss of confidence in fiat, NOT a hedge against a typical recession.
Financial markets in free fall.
The liquidity crisis was so severe BTC experienced one of it’s worst days ever.
Now known as Black Thursday, on March 12, BTC plummeted as much as 50% to below $4,000 at its lowest point on the day.
BTC closed the day down 40%
With turmoil in broader financial markets as the backdrop central banks start printing and governments launch bazooka stimulus packages.
Money printer goes brrr meme goes mainstream.
By the end of the month the top four central banks had printed more than $3.5 trillion in just seven weeks.
QE infinity, 0% interest rates, and MMT enter the conversation.
The inflation narrative for #BTC is planted.
Legendary macro investor Paul Tudor Jones revealed that his Tudor BVI fund would be investing a “low single-digit percentage” of its assets under management in Bitcoin.
Says BTC is the fastest horse in the inflation hedge race and says BTC Reminds him of gold in 1976.
Despite all the hype around the halving it was ultimately uneventful...
Surprise surprise.
https://t.co/pFHTovsayE
The most boring month of the year for Bitcoin.
Despite all the action in Ethereum’s DeFi ecosystem and broader financial markets, Bitcoin traded range bound between $9,000 and $10,000 for 60 days starting at the end of May.
It was kind of eerie.
The OCC granted national banks and federal savings associations authority to provide cryptocurrency custody services to customers.
This provided regulatory clarity for banks and paved the way for them to launch cryptocurrency products.
https://t.co/XjG2vtAGBl
MicroStrategy (MSTR) announced it purchased $250mm worth of Bitcoin (21,454 BTC) as part of a new capital allocation policy aimed at hedging inflation.
MSTR would go on to purchase 70,470 BTC over the next few months.
Its current holdings are worth over $1.7 billion.
Bitcoin tokenized on Ethereum reached over $1 billion (~92,600 or 0.5% of the total Bitcoin supply).
This growth was primarily fueled by yield opportunities in Ethereum’s DeFi ecosystem.
There is now nearly $3.5 billion of BTC on Ethereum.
First day of the month, the DOJ and the CFTC filed charges against BitMEX.
The group was accused of operating an unregistered trading platform and violating CFTC rules, including AML and KYC regulations.
BTC surprisingly barely flinches on the news.
On Oct 21, PayPal launched a new service enabling its 325 million users to buy, hold, and sell cryptocurrency.
Fwiw we noticed an interesting trend. https://t.co/T52DDHci5o
Probably just be a coincidence, but of the ten largest US financials PayPal and Square are the only ones who got off zero in 2020.
— Ryan Watkins (@RyanWatkins_) November 5, 2020
And they both happen to provide customers the ability to buy #Bitcoin https://t.co/8SuXFpmxlu pic.twitter.com/pO45b6jC0C
Bitcoin received yet another major institutional validation, this time from legendary macro investor Stanley Druckenmiller who said he owned BTC.
Weeks later Citigroup published a report stating that BTC could reach $318,000 by the end of 2021.
https://t.co/7OPrjSpyuO
MassMutual becomes 1st insurance firm to buy Bitcoin.
UK based investment manager Ruffer Investment buys Bitcoin.
Guggenheim CIO Scott Minerd stated that the BTC could reach over $400,000 based on the assets scarcity and the relative value to gold.
https://t.co/YpgA3zi133
It was the biggest sign that a new era for Bitcoin had arrived - market validation.
Not surprising, a day later, Coinbase announced it was going public. https://t.co/NRmmBICTdj
As Covid-19 came into the picture this year the “when” question became more discernible.
https://t.co/kh1ojnJMQc
Bitcoin has the added kicker that it’s an inflation hedge fit for the Digital Age.
Hope yall enjoy our 2020 review
https://t.co/qZZWdNBbTm
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Fake chats claiming to be from the Irish African community are being disseminated by the far right in order to suggest that violence is imminent from #BLM supporters. This is straight out of the QAnon and Proud Boys playbook. Spread the word. Protest safely. #georgenkencho
There is co-ordination across the far right in Ireland now to stir both left and right in the hopes of creating a race war. Think critically! Fascists see the tragic killing of #georgenkencho, the grief of his community and pending investigation as a flashpoint for action.
Across Telegram, Twitter and Facebook disinformation is being peddled on the back of these tragic events. From false photographs to the tactics ofwhite supremacy, the far right is clumsily trying to drive hate against minority groups and figureheads.
Declan Ganley’s Burkean group and the incel wing of National Party (Gearóid Murphy, Mick O’Keeffe & Co.) as well as all the usuals are concerted in their efforts to demonstrate their white supremacist cred. The quiet parts are today being said out loud.
The best thing you can do is challenge disinformation and report posts where engagement isn’t appropriate. Many of these are blatantly racist posts designed to drive recruitment to NP and other Nationalist groups. By all means protest but stay safe.
There is co-ordination across the far right in Ireland now to stir both left and right in the hopes of creating a race war. Think critically! Fascists see the tragic killing of #georgenkencho, the grief of his community and pending investigation as a flashpoint for action.
Across Telegram, Twitter and Facebook disinformation is being peddled on the back of these tragic events. From false photographs to the tactics ofwhite supremacy, the far right is clumsily trying to drive hate against minority groups and figureheads.
Be aware, the images the #farright are sharing in the hopes of starting a race war, are not of the SPAR employee that was punched. They\u2019re older photos of a Everton fan. Be aware of the information you\u2019re sharing and that it may be false. Always #factcheck #GeorgeNkencho pic.twitter.com/4c9w4CMk5h
— antifa.drone (@antifa_drone) December 31, 2020
Declan Ganley’s Burkean group and the incel wing of National Party (Gearóid Murphy, Mick O’Keeffe & Co.) as well as all the usuals are concerted in their efforts to demonstrate their white supremacist cred. The quiet parts are today being said out loud.
There is a concerted effort in far-right Telegram groups to try and incite violence on street by targetting people for racist online abuse following the killing of George Nkencho
— Mark Malone (@soundmigration) January 1, 2021
This follows on and is part of a misinformation campaign to polarise communities at this time.
The best thing you can do is challenge disinformation and report posts where engagement isn’t appropriate. Many of these are blatantly racist posts designed to drive recruitment to NP and other Nationalist groups. By all means protest but stay safe.
"I really want to break into Product Management"
make products.
"If only someone would tell me how I can get a startup to notice me."
Make Products.
"I guess it's impossible and I'll never break into the industry."
MAKE PRODUCTS.
Courtesy of @edbrisson's wonderful thread on breaking into comics – https://t.co/TgNblNSCBj – here is why the same applies to Product Management, too.
There is no better way of learning the craft of product, or proving your potential to employers, than just doing it.
You do not need anybody's permission. We don't have diplomas, nor doctorates. We can barely agree on a single standard of what a Product Manager is supposed to do.
But – there is at least one blindingly obvious industry consensus – a Product Manager makes Products.
And they don't need to be kept at the exact right temperature, given endless resource, or carefully protected in order to do this.
They find their own way.
make products.
"If only someone would tell me how I can get a startup to notice me."
Make Products.
"I guess it's impossible and I'll never break into the industry."
MAKE PRODUCTS.
Courtesy of @edbrisson's wonderful thread on breaking into comics – https://t.co/TgNblNSCBj – here is why the same applies to Product Management, too.
"I really want to break into comics"
— Ed Brisson (@edbrisson) December 4, 2018
make comics.
"If only someone would tell me how I can get an editor to notice me."
Make Comics.
"I guess it's impossible and I'll never break into the industry."
MAKE COMICS.
There is no better way of learning the craft of product, or proving your potential to employers, than just doing it.
You do not need anybody's permission. We don't have diplomas, nor doctorates. We can barely agree on a single standard of what a Product Manager is supposed to do.
But – there is at least one blindingly obvious industry consensus – a Product Manager makes Products.
And they don't need to be kept at the exact right temperature, given endless resource, or carefully protected in order to do this.
They find their own way.
