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Let me provide some context and explain why I believe bitcoin interest is as strong as ever. You're reading Crypto for Advisors , a weekly look at digital assets and the future of finance for financial advisors. Subscribe here to receive the mailing every Thursday. Three proofs of bitcoin interest As for context, what most people need to recognize is that the monetization of bitcoin takes decades, not months. In regards to strength in bitcoin interest, here are a few pieces of evidence: First, I've noticed no reduction in interest in bitcoin, despite the recent price decline.
Conversations are only just picking up steam as people are starting to probe into unanswered questions — questions about what money is and where the funding is for all the government spending. This became obvious to me after I was recently asked to be in a bitcoin book club with financial advisors looking to learn more about bitcoin.
Bitcoin is the song that does not end. Second, fewer people are selling bitcoin than you may realize. Stanley Druckenmiller mentioned that when he was first interested in bitcoin, a conversation with Paul Tutor Jones helped spur his enthusiasm. Hashrate refers to the level of computing power given to the network through mining. Macro View In traditional markets, the tech-focused Nasdaq was down a few fractions of a percentage point amid a so far disappointing earnings season for major technology brands, including Meta Platforms, whose augmented and virtual reality operations missed badly on revenue projections.
Energy prices are an ongoing concern in the battle against inflation. Safe-haven gold was down 0. Information about CoinDesk Indices can be found at coindesk. The economic expansion is a reversal from the 1. But consumer spending and the once-hot housing market have been slowing as rising prices and interest rate hikes have an increasing impact on the economy.
The price of the newly launched APT token has nearly rallied back to where it started trading last week before a swift crash. Read more here. Bitcoin Miner Core Scientific's Shares Plummet After Bankruptcy Warning: The world's largest bitcoin miner said it will not make payments that are due in the next few days as its reserves dwindle.
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