Cryptocurrencies Are Suddenly Going Mainstream
Beware the headline makers! According to Wall Street lore when a financial asset hits the front pages it can signal a turning point, either a recovery if negative, or a fall if positive.
What’s making headlines today? Bitcoin and other cryptocurrency-related investments, including dogecoin, a meme-inspired cryptocurrency created as a joke in 2013. “This is absurd,” said Billy Markus, the co-creator of dogecoin. “I haven’t seen anything like it. It’s one of those things that once it starts going up, it might keep going up.”
Dogecoin however is not the real story. Bitcoin, the world’s first and largest digital currency is, as well as Ethereum, the second largest and the blockchain networks they support.
And there are other players emerging. Coinbase Global Inc, the largest market exchange for digital currencies went public on the Nasdaq this week and its $85 billion market value easily surpassed that of the Nasdaq itself and ICE, the parent company of the New York Stock Exchange.
The cryptocurrency world has gone from fringe to close to the mainstream since our last conversation a year ago. Hougan will explain what’s driving the transformation, who the key players are, where the industry is going and the implications for investors.
There is no question that Bitcoin and Coinbase and a few other cryptocurrency-related investments have arrived. As we write this Bitcoin’s market value is over one trillion dollars.
On Wall Street money talks. Major firms including Goldman Sachs, Morgan Stanley, and BlackRock are now offering Bitcoin products to clients.
Our guest this week had the foresight and guts to get involved in ETFs in their early stages and more recently, in 2018 he threw his energy and career into cryptocurrencies believing they would become the next big, positive innovation for investors.
00:00 Hello
00:44 Introduction
03:27 Interview with Matthew Hougan
23:38 One Investment
23:49 Action Point
WEALTHTRACK #1743 originally broadcast on April 23, 2021
More info: https://wealthtrack.com/bitcoin-entrepreneur-matt-hougan-explains-why-cryptocurrencies-are-suddenly-going-mainstream/
Matt Hougan in April of 2020: https://wealthtrack.com/flows-into-etfs-and-long-term-returns-on-bitcoin-are-staggering-matt-hougan-is-an-expert-on-both/
Beware the headline makers! According to Wall Street lore when a financial asset hits the front pages it can signal a turning point, either a recovery if negative, or a fall if positive.
What’s making headlines today? Bitcoin and other cryptocurrency-related investments, including dogecoin, a meme-inspired cryptocurrency created as a joke in 2013. “This is absurd,” said Billy Markus, the co-creator of dogecoin. “I haven’t seen anything like it. It’s one of those things that once it starts going up, it might keep going up.”
Dogecoin however is not the real story. Bitcoin, the world’s first and largest digital currency is, as well as Ethereum, the second largest and the blockchain networks they support.
And there are other players emerging. Coinbase Global Inc, the largest market exchange for digital currencies went public on the Nasdaq this week and its $85 billion market value easily surpassed that of the Nasdaq itself and ICE, the parent company of the New York Stock Exchange.
The cryptocurrency world has gone from fringe to close to the mainstream since our last conversation a year ago. Hougan will explain what’s driving the transformation, who the key players are, where the industry is going and the implications for investors.
There is no question that Bitcoin and Coinbase and a few other cryptocurrency-related investments have arrived. As we write this Bitcoin’s market value is over one trillion dollars.
On Wall Street money talks. Major firms including Goldman Sachs, Morgan Stanley, and BlackRock are now offering Bitcoin products to clients.
Our guest this week had the foresight and guts to get involved in ETFs in their early stages and more recently, in 2018 he threw his energy and career into cryptocurrencies believing they would become the next big, positive innovation for investors.
00:00 Hello
00:44 Introduction
03:27 Interview with Matthew Hougan
23:38 One Investment
23:49 Action Point
WEALTHTRACK #1743 originally broadcast on April 23, 2021
More info: https://wealthtrack.com/bitcoin-entrepreneur-matt-hougan-explains-why-cryptocurrencies-are-suddenly-going-mainstream/
Matt Hougan in April of 2020: https://wealthtrack.com/flows-into-etfs-and-long-term-returns-on-bitcoin-are-staggering-matt-hougan-is-an-expert-on-both/
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NFTs. And FTs-Bitcoin. U own this FT it is actually a piece of digital code that people have assigned value to. It has no backing — unlike a fiat currency, it MIGHT have scarcity like gold. It has value as long as confidence is maintained.
The government has the power to step in and change cryptocurrency overnight. The idea that "decentralized finance" will be tolerated by the world's governments is very dubious. How do we know?
Look what the government did to the ICO.
People say "the government cannot control privately-owned assets."
This is just not true, at least – not in the U.S.A.
As an example: one privately-owned asset class – privately-owned rental property – has been taken control of by the government. This is just an example that challenges people's belief that "the government cannot do anything about bitcoin and cryptocurrency because they are private property."
Privately-owned assets – such as rental properties – have been, for 13 months, captured by the government. If you have not heard of the government outlawing access to the courts for owners of privately-owned assets – rental property in this example – look up "eviction moratorium." The government imposed a NATIONWIDE termination of court access for private owners of rental assets.
The government killed ICOs (initial coin offerings). I say, Warren Buffet was right. "Rat poison squared"
At any moment, the right (wrong?) people in the U.S. government could say "cryptocurrency now threatens public use of the dollar" and outlaw it.
Recall that in the 1930s, the U.S. government outlawed private ownership of gold.
So I do not understand the lack of rationality about the government's easy path to eliminating cryptocurrency overnight.
.
.
Here's an interesting thought: who/how was it determined that there are only 21 million bitcoin? This rule was supposedly invented by Satoshi Fartamoto or whatever his name is, the same guy who repeatedly denies having anything to do with bitcoin. Has anyone verified it? This is a circus! All of these supposedly enlightened investment advisors and CFAs are disgracing themselves by latching on to this nonsense. Where are you, SEC?????
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Crypto is tumbling, with little sign of stopping. I know people hate saying "this time is different" but the amount of banks, institutions, and companies who have in vested hundreds of millions of dollas with the intent to hold long term: how can we refute that this may be the "super cycle" everyone is talking about? The conditions of this bull market are unlike anything we have ever seen. βͲ↻ still has a ways to go in terms of gro wth, I have been in the crypt0 world for just over a year now and I have been able to make 6.3βͲ↻ foIIowing the reasonable adv!se and tradn sIgnals from jasper Ryan, a pro anaIysis that is always one step ahead of other tradrs, he runs a program for serious minded inve stor who are curious to e arn from bit coin regardless of the current pr!ce chart. You can easily get to Ryan on Եҽl ҽցɾαต [[@ ryan_signals]]
gold doesn't have to have a network effect. i can have all the gold in the world and set price of my choice. on the other hand we need network effect for fiat currency. so bitcoin is more like digital cash and not like digital gold. bitcoins economy is like paper cash when you want it to be untraceable. so ransomware, drugs crime are its practical use case. more ransomware attacks will lead to more buying of bitcoin thus increase its use and demand. i don't think its useless or a bubble.
If Matt says her name wrong one more time I’m gonna scream. Consuelo, I have watched you for years and this just is not cool. He clearly didn’t know your name and for a guest that has been on your show before, it’s really unacceptable. Great interview as always. Thank you for your work.
Gold didn't emerge as a store of value in the 70s (07:30 lol) but great topic and a useful intro for the audience!
It is funny as heck that bitcoin is priced in US dollars since according to skippy here one of the reasons for the popularity of btc is that the fiat currency it is valued in is going to have devaluation. So you are buying a fiat currency as a hedge against a different fiat currency. Being scarce doesn't make things valuable; it isn't a good store of value, it isn't widely used and it takes a tremendous about of electricity to mine and create the blockchains required to do each micro transaction.
Consuelo asked the killer question about someone we don’t even know who deciding there would be only 21 million Bitcoins. The answer given by this charlatan pumping Bitcoin is simply in convincing. This a pattern of swindlers. A lot of words little substance. You hear all the buzz words: scarcity, innovation, safety, anonymity, etc. You can buy fractions of a Bitcoin divided by, say, a billion. This is like transacting fractional shares. Is a holder of fractions of common stock an owner of a company or is it only an illusion facilitated by the brokerage?
When something is everywhere, then something is definitely wrong.
The discussion in this video is really two years behind the times as far as changes in blockchain tech are concerned. Keep hoping that U.S. media will catch up with the rest of the developed world.
I just discovered that bitcoin trading is one of the best way of making money. In 2-3 years time you will be so ecstatic about the decision you made now.
Bit Coin Bubble….. Of course the big institutions like Goldman are going to offer Bitcoin… They want to cash in on the commission generated by Bitcoin. Most institutions don't care about the well being of investors… This guy is full of bs..