World's Largest Asset Manager is a Closet BTC Bull? PayPal's CEO Says the Time is Now, BlockFi's BTC Credit Card

over 3 years ago

The Daily LEO is a crypto-focused newsletter that we publish every day (Monday-Friday) with the most relevant news and happenings in the space. This newsletter is published everywhere. Make sure to subscribe to it using your favorite platforms:

Get The Daily LEO in Your Inbox Each Morning: The Daily LEO on Substack

Bitcoin Users Climb to ATHs

While everyone is watching the price action for BTC to make new all-time highs, many other metrics are also crushing previous records. This chart shows the number of active "entities" or wallets receiving BTC.

What I like here is the steady upward trend we've seen over the past year+ as opposed to the quick explosion and subsequent dump we saw in 2017-18.

World's Largest Asset Manager is Secretly a Bitcoin Bull?

Blackrock's CEO Larry Fink recently did an interview and said everything but "BTC is going to the moon". Marketwatch reported on one of his statements saying:

'Bitcoin has caught the attention and the imagination of many people. Still untested, pretty small market relative to other markets.’

and

You see “these big giant moves every day…it’s a thin market. Can it evolve into a global market? Possibly,” he concluded.

The narrative of major financial institutions joining the crypto space is coming together each and every day.

PayPal's CEO: The Time is Now for Crypto

Dan Schulman has been talking about crypto more publicly lately with the rollout of BTC buying and selling via PayPal. Coindesk reported on his statements during the Web Summit conference where he talked about his general outlook on the crypto space.

“As we thought about it, digital wallets are a natural complement to digital currencies. We’ve got over 360 million digital wallets and we need to embrace cryptocurrencies,” said the PayPal CEO."

Again, adding to the narrative of these institutions adopting crypto and adding traditional infrastructure and access points to bolster the industry for mass adoption.

Blockfi announces new BTC-Back Rewards Credit Card!

@jrcornel reports on BlockFi's Bitcoin Rewards Credit Card that was announced yesterday. This credit card will allow users to make their everyday purchases like any other credit card.

The key difference is that users will earn 1.5% ~~cash~~ BTC-back on all purchases. Users will also be able to seamlessly pay off their credit balances using BTC and other stablecoins/crypto-assets that are supported by their BlockFi account.

As a user of BlockFi, I've already joined the waitlist for this card and am excited for the day it arrives (mostly for the fact that I'll hand my card to people and it will have the BTC logo on the front).

S&P Dow Jones Indices to launch cryptocurrency indexes in 2021

Hot off the press! Reuters just posted this article about a S&P DJ indices for crypto launching in 2021. This is big news and once again (for the millionth time), adding to the narrative of major institutions and key financial infrastructures coming to the crypto space.

"The S&P DJI-branded products will use data from New York-based virtual currency company Lukka on more than 550 of the top traded coins, the companies said."

ETH 2.0 - What is It?

@dalz wrote an awesome post talking about ETH2 in layman's terms. I like this non-techie description and overview of what exactly ETH2 is and how it's going to be rolled out.

Phase 0 was launched on December 1st and that made big headlines. There are no shortages of running jokes about ETH2's launch, but the real fun begins when the full migration takes place and we see ETH's TPS (transactions per second) skyrocket from 30 to 100k.

Listen & Subscribe to the LeoFinance Podcast!

LeoFinance is a blockchain-based social media community for Crypto & Finance content creators. Our tokenized app allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.