16th November 2021 > > Institutional adoption of cryptos.

tl;dr

One day, just not yet, we will see wholesale institutional adoption of cryptos.

Market Snap

Market Wrap - Technical analysis (TA) from our resident techie Larry

Inflation fears are dampening the enthusiasm for risk assets but should be good for BTC in the long run.

Occasional Series – Jah Shaka

I write this listening to the dub magician. It is a lyric free zone.

Nice.

Curious Cryptos’ Commentary – Zanzibar

As Nick will testify, you can only ever have a great time in Zanzibar. One of my fave places ever.

The semi-autonomous government of Zanzibar is contemplating copying El Salvador and embedding cryptos deep into its economy. Abdulmajid Nsekela, chairman of the Tanzania Bankers Association, and I think alike:

“For cryptocurrency to be effective, we will need policies for cryptocurrency.”

This can only be a good thing.

Curious Cryptos’ Commentary – Institutional adoption of cryptos

Abdulmajid and I are at one with regards to the need for appropriately targeted legislation and regulation for cryptos. This is the only route that will allow this paradigm challenging technology to flourish and usurp legacy ways of doing business.

If anyone tells you that regulation is going to kill cryptos, tell them to go away. They know not of what they speak.

…

BitGo is a custodial solution aimed squarely at institutional investors. A year ago it reported assets under custody (AUC) of $16bn. Today that number is $64bn. However, the price rise in BTC over the last year would have taken AUC to $51bn.

This is relatively disappointing news but reinforces my key assumption – we need targeted regulation to unleash a tsunami of cash into the BTC market.