Strategic Reserves, SBF Return, White House Summits = What A Week In Crypto

This week has been packed with announcements so big that just a few years ago would've sent Bitcoin parabolic. But now, it's just another day and the price actually dropped.

Is that the market saying this is NOT the way this space should be heading?

Think about it for a moment, the United States just announce a Bitcoin Strategic Reserve and the price dropped.

Long gone seems to be the days of the cypherpunks now. But with the recent whitehouse announcement, it might actually be the spark we need to ignite a new wave of innovators pushing private, decentralized platforms.

Market Overview

• Market Cap: ~$2.93T (The revolution continues)
• Fear & Greed: Fear (25). Fear is usually your friend in these markets.
• BTC Dominance: ~58%. Bitcoin is still the strongest asset in crypto right now.

The only thing to come out of it was a clear lack of deep understanding of this space from the President and he was just repeating some of the buzz words people have been telling him.

Now don't get me wrong, it's great to see countries starting to attempt to adopt crypto in their own ways. But we must not forget the original vision of Bitcoin and it certainly wasn't to conform with rules and regulations.

But alas, here we are, I guess an inevitable step of the adoption cycle.

If you want a real deep dive into why we really need crypto, then make sure you check out Heidi's book. It's one of the best out there and really hammers home that original vision. It's not to be missed.

That's it for this weeks report.

Hope you enjoyed it, let me know below what you thought and don't forget to hit those feedback buttons. This is for you after all.

Thanks,

Adam