Financial Anchor Jessica Borg is working on a longer-term assignment this week, which gives us an opportunity to take a look back at our recent video coverage of one of the most important trends in recent human history.
You read that right: When we talk about Bitcoin and blockchain technology, we’re discussing global-level disruption.
Dr. Martin Weiss is not exaggerating when he calls it “the greatest money revolution of all time.” Other notable experts, like Jim Bianco, say it’s “the biggest game-changer since the Bank of England invented the paper currency in 1693.”
That sort of excitement is reflected in Bitcoin’s trajectory during 2021.
Based on data from coinmarketcap.com, from a close of $29,001.72 on Dec. 31, 2020, through a midday price of $59,789.35 on March 18, 2021, the King of Crypto is up 106.2% year to date.
We opened our Sunday coverage of the crypto space on Jan. 3, when Jessica and Juan Villaverde got together to discuss Bitcoin’s meteoric run to end 2020 and its prospects in 2021:
 |
The most compelling part of the conversation — with the benefit of hindsight, of course — is what Juan had to say about Ethereum, the No. 2 cryptocurrency, and altcoins:
It’s this piece of technology that allows us to build a new financial system with the same security properties that make Bitcoin so attractive. Ethereum is that for finance.
All finance — I mean banking, trading, insurance, custody, anything you can think of can be built on Ethereum.
It can support a brand new, rock solid, much more secure financial system, that fixes a lot of the issues that the current financial system has.
Jessica followed up with Juan on Feb. 7 to dig a little deeper into the “DeFi” (that’s short for “decentralized finance”) trend that’s lighting up the crypto space and promises to disrupt old-school finance — and soon. Here’s how Juan put it:
The key difference between traditional and decentralized finance, which should actually be called non-custodial finance, is that you do not need to surrender your assets to a third party. And that is a game-changer.
I think there’s about $20 billion in assets deposited in DeFi right now. That’s nothing. This is going to be a multi-trillion-dollar market, as well.
And with that, many of DeFi’s top applications and their tokens will go to multi-hundred-billion-dollar valuations in the near future.
Most recently, on Feb. 28, Alex Benfield joined Jessica and Juan while Bitcoin was in the middle of a correction. The message was clear: Buy Bitcoin, don’t sell. Here’s Juan:
It’s an entirely new asset class. It is different. And you’ve never seen anything like this before.
The way the supply and demand works has been engineered unlike anything we’ve ever seen.
We have never seen an asset that has fixed supply, that everybody wants.
Alex tied it together in the March 17 issue of our free e-letter, Weiss Crypto Alert:
Institutions will soon have access to five new altcoins via Grayscale, and retail exposure is increasing as well with Coinbase adding a few new assets in recent days. More demand usually results in higher prices due to basic economics. And it does seem that altcoin demand is trending upward.
For continuing coverage on the rapidly developing crypto space, sign up for Weiss Crypto Alert here.
And be sure to join us here next week, when Jessica will be back to talk “disruption and domination” with Tony Sagami.
Best,
David Dittman
