10/5 - Tom Brady Owns Bitcoin

We Got Another One!Our man Russell Okung really set a fire off in pro-sports when he converted half of his salary into Bitcoin back in December, 2020. Since then Bitcoin is up +100% and more players are buying Bitcoin almost every few days. (click underlined text for sources) NFL’s No.1 Draft Puts His $24m Signing Bonus into Bitcoin (and other crypto)- Bitcoin.comSean Culkin of the Kansas City Chiefs converts entire salary to Bitcoin - The Block CryptoAnd now….

Michael Saylor smashed the Bitcoin energy consumption FUD - but will facts get in the way of clickbait?

Catch the full interview here:Part IPart IIUBS Explores Offering Crypto Investments to Rich ClientsUBS Group joins U.S firms in seeking to give broader access in response to client demand - Bloomberg

Another day, another Wall Street Bank bends the knee.They’re all coming now, because they can see the money drain out of their accounts as customers move to Coinbase, Gemini, Kraken, Binance…The big banks are all coming…

• Morgan Stanley

• Goldman Sachs

• JPMorgan

• Citibank

NYDIG says 100s of US banks will offer their customers the ability to buy/sell and custody Bitcoin. That’s potentially 10’s of billions of dollars coming into Bitcoin.

Why’s The Price Not Going Up?!I get constant messages from people wondering why the price isn’t going up. For some people it’s hard to hold on while the alts are roaring. You just have to know what you are buying and why. For every 1 person making a fortune, there are many who will hide the shame of getting rekt. But here’s some charts that should give comfort to the patient.

As I and many others have reminded Bitcoin Twitter, the 2017 bull market set off on a 12 month rise after about 5-6 months of supply depletion. This time we have had almost 15 months of supply depletion on exchanges - during the bull run. The 5.5x move since September has created a lot of weak hands who have been tempted to cash in. It’s to be expected and until that “weak hands” supply is soaked up, we continue to consolidate - better than a 40% correction like last cycle!Institutions are buying though. We can see that with the Coinbase supply depletion.

We haven’t had a lot of news lately, but we have had BIG news with Square’s results and Wall Street effectvely capitulating to Bitcoin. Like everybody else, I want to see some big name corporate and institutional investors declare their purchases.

It’s inevitable :)