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weekly-roundup

The Gold and Bitcoin Powwow

The Gold and Bitcoin Powwow

ByteTree Market Health Update; Issue 71 This week I have written an open letter to Daniela Cambone-Taub. She will be hosting the debate between Frank Giustra and Michael Saylor. These are prominent people in the gold and Bitcoin communities. Giustra publicly challenged Saylor to debate his thesis on gold and

What's Driving Bitcoin? Innovation and the Growth in Stablecoins

What's Driving Bitcoin? Innovation and the Growth in Stablecoins

ByteTree Market Health Update; Issue 70 The recent strength in Bitcoin is puzzling. The speculative excesses in financial markets are easing, yet Bitcoin remains strong. Institutional demand is cooling, yet Bitcoin remains strong. Even the on-chain metrics are slowing, as I discussed last week, yet Bitcoin remains strong. Sometimes the

Investors Turn to Fundamentals as GBTC plunges to a 9% Discount

Investors Turn to Fundamentals as GBTC plunges to a 9% Discount

ByteTree Market Health Update; Issue 69 Bitcoin’s blockchain data is our linchpin as it reports the vibrancy of blockchain activity. It has always been the case that a growing network has coincided with a rising bitcoin price and vice versa. That said, the past few months have seen another

The Implications of the Grayscale Discount

The Implications of the Grayscale Discount

ByteTree Market Health Update; Issue 68 The arrival of institutional investors into Bitcoin has been the game-changer. The last Bitcoin halving was a year ago, and since then, these funds have bought more Bitcoin than the miners have generated. Of all the reasons why Bitcoin has been strong over recent

Bitcoin Halving 2020; Then vs. Now

Bitcoin Halving 2020; Then vs. Now

Reviewing Past Predictions Bitcoin’s network value has experienced parabolic growth over the last six months in line with a handful of other risk-on assets such as tech stocks. While growth was inevitable in hindsight, one must not forget that Bitcoin was worth just $4,600 this time last year.

Bitcoin Decouples from the Tech Bubble

Bitcoin Decouples from the Tech Bubble

ByteTree Market Health Update; Issue 67 I have long argued that Bitcoin has links to tech and social media stocks (SOCL) in particular. That’s hardly a revelation, nor controversial, because Bitcoin is a network effect situation that rose from the internet. Bitcoin has performed spectacularly over the years, leaving

Bitcoin Institutional Flows Are a Game Changer

Bitcoin Institutional Flows Are a Game Changer

ByteTree Market Health Update; Issue 66 In recent months, Bitcoin funds have scooped up all the bitcoins that have been mined, and then some. The miners have been reducing their inventories (tracked by ByteTree) to meet the insatiable demand. In this piece, I will walk you through what is happening