Fast Fact #61:
Niall Ferguson, Senior Fellow at Stanford University, told Barron’s in December 2002 that the best investment opportunity coming out of the pandemic will be bitcoin.
Fast Fact #62:
S&P Dow Jones will launch cryptocurrency indices in 2021, saying reliable pricing data will make it easier for investors to evaluate and access the new asset class and reduce risks.
Fast Fact #63:
In November 2020, BlackRock CEO Larry Fink, said bitcoin is “here to stay.” A month later he added that growing popularity of digital assets is having a “real impact” on the U.S. dollar, making it “less relevant” for foreign holders of dollar-based assets. At an industry event, he asked, “Does digital currency change the need for the dollar as a reserve currency?”
Fast Fact #64:
A 17-year-old artist from Nevada created a digital painting of the NYC skyline. IT sold for more than $21,000 in an online auction held on Nifty Gateway, a blockchain art platform. Artists can submit their work as tokens on the blockchain; each token is one of a kind and cannot be deleted or copied.
Fast Fact #65:
MicroStrategy, which earlier invested $425 million into Bitcoin, bought another $50 million of bitcoin in November 2020, and says it plans to sell $400 million in convertible bonds–and will use the proceeds to buy more bitcoin.
Fast Fact #66:
Institutional investors put $429 million into cryptocurrency funds in the first week of December 2020, the second highest inflow on record. The record of $468 million was set 3 weeks earlier.
Fast Fact #67:
Airbnb is going public and told the SEC in its filing that, “our future success will also depend on our ability to adapt to…tokenization…cryptocurrencies…and blockchain technologies….”
Fast Fact #68:
Rumors abound that universities plan to launch their own tokens. Instead of a parent saving money in a 529 plan, they could buy the tokens to lock in current tuition rates. In the future, the tokens could be traded on the open market if the child doesn’t attend college.
Fast Fact #69:
MassMutual bought 100mm in Bitcoin in December 2020, and invested $5 million into NYDIG, the digital asset subsidiary of Stone Ridge, which manages $10 billion in alternative assets.
Fast Fact #70:
In December 2002, Bridgewater Associates Founder Ray Dalio changed his mind about bitcoin. The founder of the world’s largest hedge fund now says bitcoin and other digital assets have “established themselves” and are interesting “gold-like asset alternatives,” adding that, “the main thing is to have some of these type of assets in one’s portfolio and to diversify among them.”