TD₿: Are GBTC Outflows Hurting Bitcoin ETF Upside? - (a Swan original video) with Dante Cook
TL;DR: GBTC's outflows likely have put downward pressure on price. But, these outflows will be short-term, and inflows will continue to increase over time. The Davos crowd still doesn't get Bitcoin.
Hey Bitcoiners,
In this episode of the Bitcoin ETF Daily show, Dante Cook does a deep dive into Grayscale's (GBTC) massive Bitcoin outflows since the launch of the ETFs and why this might be happening.
He discusses its effects on dampening the price appreciation of Bitcoin as these ETFs enter their second week of trading and volume hits $10 billion. He also provides an update from the World Economic Forum in Davos.
Tick tock next block,
Cory Klippsten
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Quote of the Day
“Based on our understanding of monetary economics, the outcome will be such that most of the value will accrue to one coin and one coin will at the very least be the world reserve currency, and even more than that, the one global money.”
- Pierre Rochard
Job of the Day
The Company
Swan is a leading Bitcoin-only financial services company supporting individuals and companies throughout their Bitcoin journey. We hire passionate Bitcoiners who want to work with a self-motivated and fully distributed startup team.
The Role
Swan is enhancing and rebuilding its financial core to support a quickly growing business. We are currently building a team to focus on financial technology. Here are some of the things you will work on:
Architecting and designing data models and systems related to financial ledgering
Integrating core banking, ledgering, reconciliation, accounting, and reporting systems
Diagramming and documenting complex financial systems and flows
Skills and experience that will help you succeed
Senior level experience with SQL, data modeling, and REST APIs
Experience at a Bank, Trust Company, Fintech, or other financial institution working on core financial primitives. At least 5 years of total software development experience, with at least 2 years at a financial institution or fintech
Commitment to great architecture, clean code, unit testing, and excellence in documentation. Well developed opinions on software architecture and principles of development in high scale systems
Experience with NodeJS is preferred, but senior level experience in any similar environment works. AWS experience is a big plus
Strong desire to self-organize work and demonstrated history of high bandwidth communication in a fully remote company
Here’s a bit about our culture
We’re a growing team: Fully distributed across the world, Slack and Huddles are huge here
We’re very flat: Leadership is desired and encouraged; we hire people who care about and use the product they are working on
We’re Bitcoiners: We find solutions that encourage Bitcoin principles. We are often involved in the Bitcoin community through writing, podcasts, conferences, open source projects, and time spent on Twitter to help educate the masses. We love Bitcoin, and it comes through in our daily chats, meetings, and actions
Join us, become a Swan!
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Event of the Day
Bitcoiners, It's Winning Time in 2024, by Swan Bitcoin
Live Webinar
January 18, 2024
Join us for an exclusive LIVE webinar hosted by the CEO of Swan, Cory Klippsten. We are entering the most critical period yet in the history of Bitcoin.
In this LIVE webinar we'll discuss the upcoming year ahead (ETF approval, halving, institutional adoption, etc.) and what impact this will have on your portfolio. If you hold, or plan to hold, Bitcoin in your individual or retirement account you won't want to miss this!
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Whether you're just starting out on your retirement planning journey or looking to transfer your existing 401k into an IRA, we're here to provide you with insightful analysis and engaging discussions.
Joining us are Steven Lubka and Terrence Yang from Swan Private, who will partner with Cory to discuss what lies ahead for Bitcoin in 2024. Our expert panelists will be on hand for a Q&A session at the conclusion to address all your burning questions.
Mark your calendars for Thursday, January 18th at 2pm PT/5pm ET, and make sure you don't miss out on this exclusive webinar event. We're looking forward to having you with us!
Thank you,
Swan Team
Meme of the Day
