• Bitcoin rallied to a weekly high of $48,166 after many months of sideways trading and consolidation. Read our latest thesis on Bitcoin.
  • Terra, the popular Layer1 blockchain protocol, plans to purchase $10B in Bitcoin to bolster the reserves for its stablecoin. The protocol already holds over $1.3B in Bitcoin.
  • According to data from glassnode, 63.1% of total Bitcoin circulating supply has remained dormant for at least one year. This suggests that long term holders are taking market volatility in stride. At the same time, exchange balances continue to decline, setting up a supply shock rally.
  • According to a study from Goldman Sachs, 60% of clients expect to increase their digital asset holdings over the next one to two years, and 32% expect to “increase it significantly.”
  • Global adoption continues to accelerate as startup Figure will begin to offer 30-year mortgages of up to $20M in exchange for Bitcoin or Ethereum as collateral, and Rio de Janeiro will accept crypto for tax payments starting 2023.
  • Janet Yellen has acknowledged the role of digital assets in finance and hopes to develop an environment that will drive innovation and advancement.