TD₿: Why $58K Bitcoin Feels So Disappointing Right Now - (a Swan original video) with Hurley
TL;DR: Why does Bitcoin feel underwhelming at $58K? Inflation distorts price signals. Michael Saylor predicts BTC will reach $13M in 21 years, capturing 7% of global capital.
Hey Bitcoiners,
The current state of Bitcoin highlights negative market sentiment despite a bullish outlook from figures like Michael Saylor. Currently, Bitcoin's price is around $57,000, and it has caused frustration due to inflation and distorted price signals.
High global inflation has confused price measurements, causing Bitcoin's perceived value to be lower than it actually is. Adjusting for inflation, Bitcoin's real value could be closer to $336,000 today, and its all-time high in 2021 may have been closer to $95,000.
Michael Saylor remains optimistic, predicting Bitcoin will reach $13 million over the next 21 years as it gains more global capital share, eventually becoming a stable, inflation-resistant asset.
Join Hurley in this video to discover why, despite the current negative sentiment, Bitcoin is likely undervalued and could be a solid long-term investment, following its typical four-year cycle of highs and lows.
Enjoy!
Tick tock next block,
The Swan Education Team
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Quote of the Day
“Bitcoin is the most important political movement of our time.”
- Ryan Selkis
Job of the Day
Chief Technology Officer
Remote (Anywhere)
Full-Time Position
Department: Business Operations
About Us
Blockspace Markets, a pioneering startup, is crafting a suite of derivative products for trading Bitcoin’s network activity. Our debut product, a perpetual futures contract that tracks a rolling average of Bitcoin’s sats/vb fee rate, is just the beginning of our innovative journey.
Position Summary
Our team is looking for a CTO who will manage all aspects of technical development. You will play a crucial role in shaping our technology strategy, spearheading the development of our debut product, and driving innovation as we expand our suite of offerings.
As the position is equity only, we are looking for someone who is passionate and excited about building Bitcoin products. This person should also be a team player who can think critically and effectively communicate. Your role will be integral to our success.
Skills
Experience with Bitcoin Core, Lightning Network, Bitcoin Script, and TapScript.
Proficiency in Python, JavaScript, Go, Rust, C++ or Solidity.
Familiarity with smart contracts.
Ability to lead, delegate, and hire engineering talent.
Experience with other chains and L2s is a plus.
Knowledge of financial derivatives, AMMs, and risk modeling is a plus.
This is an equity-based position only. Depending on your commitment and performance, your equity allocation will range from 20% to 30%.
To apply, please email us at btcblockspace@gmail.com with a copy of your resume and a quick sentence about why you are interested in working here.
Not your particular skill set? Check out all the Bitcoin Jobs at bitcoinerjobs.com.
In the Headlines
Japan's Metaplanet Acquires Additional ¥300 Million ($2M) in Bitcoin for Corporate Treasury:
Japanese investment firm Metaplanet has expanded its Bitcoin holdings with an additional ¥300 million ($2 million) purchase, acquiring 38.464 BTC at an average price of ¥7.8 million ($54,517) amid a price dip.
This brings Metaplanet's total Bitcoin holdings to 398.832 BTC, acquired for a total of ¥3.75 billion ($26.12 million) at an average price of ¥9.4 million.
Standard Chartered Bank Launches Bitcoin and Crypto Custody Service in UAE with DFSA Approval
Standard Chartered has launched its digital asset custody service in the UAE, licensed by the Dubai Financial Services Authority (DFSA) in the Dubai International Financial Centre (DIFC). Initially focusing on Bitcoin and Ethereum, the service aims to provide secure storage for digital assets.
The bank chose the UAE for its balanced digital asset adoption and regulation approach. Standard Chartered plans to expand its custody services to include more digital assets and explore opportunities in other global financial hubs.
Swan Shortie of the Day
Event of the Day
Bitcoin Amsterdam
Dates: October 9-10, 2024
Location: Westergas, Amsterdam
Following the landmark global Bitcoin Conference held in Nashville this July, where U.S. presidential candidates Donald J. Trump and Robert F. Kennedy captivated audiences, Bitcoin Amsterdam 2024 is poised to be another historic event in the global Bitcoin industry.
Exploring the future
This year's conference theme invites participants to delve into Bitcoin's future. Over the past 15 years, Bitcoin has evolved from an obscure digital experiment to a central player on the global financial stage.
This event, which will include plenty of educational sessions and opportunities for networking, focuses on shaping the future of the Bitcoin ecosystem.
With an expected attendance of 5,000, Bitcoin Amsterdam 2024 is one of Europe's most significant Bitcoin events this year. Last year's conference featured notable speakers such as Edward Snowden and Eva Vlaardingerbroek.
This year promises other influential voices discussing how freedom, finance, and technology converge in Bitcoin. Among the first speakers announced are Jack Mallers, CEO of Strike, and Stella Assange. The lineup is expanding daily, and more speakers will be unveiled in the coming weeks.
Secure your spot: Tickets and updates.
As excitement builds, ticket prices will increase as the event approaches. Attendees are encouraged to secure their tickets early to participate in this pivotal conversation on Bitcoin's future.
For more details, to purchase tickets, and to stay updated on speaker announcements, visit: Bitcoin Amsterdam 2024.
Not in town for this? Check out all the Bitcoin events at bitcoinerevents.com.
Meme of the Day
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