Fear is the Ultimate Uncertainty

Crypto Bytes
DIGESTIBLE CRYPTO NEWS + PODCAST

“In the future, all assets will become digitized.”

Yoni Assia, 2019

MOON
Who’s up…

Finally Fidelity… Fidelity, one of the largest asset managers in the world with $2.7 trillion under management and 1.3 million trades a day is to start bitcoin trading for institutional investors “within weeks”. That’s after they carried out a survey where they found almost half of institutional investors might add bitcoin to their portfolio.

Bitcoin^2… Payments company Square reported its first-quarter earnings today, revealing strong growth in bitcoin sales through its Cash app. Square reported $65.5 million in bitcoin revenue for the first quarter of 2019.

Takeaways: Institutional money getting into the crypto space is very interesting and IMO will be a catalyst for the market to reach new highs as new money pours in by the millions. Fidelity’s survey and Square’s Cash app are both positive signs that the sentiment towards crypto heading the right direction.

REKT
…Who’s down

Buffett Bashing Bitcoin…Again… Warren Buffett’s newest bitcoin comments seem even harsher. In an interview before Berkshire’s annual meeting, Buffett called bitcoin “a gambling device” and also pointed out that there’s been lots of fraudulent activity in the bitcoin world. “It doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me,” Buffett said.

Un-Tether… After a week of drama surrounding iFinex Inc., which operates Bitfinex and owns Tether Ltd., CoinMarketCap has decided to remove Bitfinex’s price data from its calculations.. Tether and Bitfinex confirm USDT is not fully backed by fiat, only 74% of tethers backed with cash. According to court documents from Bitfinex’s legal representation, the company needed the $900 line-of-credit to cover the loss of access to $850 million from payment processor Crypto Capital.

Takeaways: I am Buffett fan as much as the next person but if you understand Buffett investing philosophy his judgement towards Tech Stars hasn’t been spot on from missing out on Microsoft and just recently investing in Amazon and Apple. Tether has been in the spotlight before regarding shady activity and this is just another sign that has me stay far away from Tether (USDT).

LAST WEEK MARKET MOVER’S

COIN OF THE WEEK
ARCBLOCK (ABT)

$0.30 +61.8%

COIN OF THE MONTH
BITCOIN CASH (BCH)

LEADERBOARD
MonkeysJunk: +1.1%

52 Fog Tokens

CRYPTO CELEBRITY

David Hay: +6.9%

RED FOG INDEX

+5.2%

BITCOIN (BTC)

$5,794 +9.9%

RF YOUTUBE INDEX

+3.1%

CRYPTO BYTES PODCAST

17 MINUTES
Episode 4: How To Properly Store Bitcoin?

 

COMING UP THIS WEEK

 

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picked)

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