We've now opened a new narrative category for journalists, for media, for people like me,

but also for people like Bloomberg, which is that another company has announced or added

Bitcoin to its treasury. This is a new category of demand, and that's so, so significant.

Imagine as we think about where the next set of demand is going to come from Bitcoin,

a year ago we weren't really talking about public company treasuries.

Boom, now that's a thing, and you have $6.8 billion reflected on public company treasuries.

Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by crypto.com, nexo.io, and elliptic, and produced and distributed by CoinDes.

What's going on, guys? It is Wednesday, October 14th, and today we have another bit of exciting

Bitcoin Treasury News. A $10 billion asset manager has made Bitcoin its primary treasury asset.

And as it turns out, there's a lot more to that story as well.

First, however, let's do the brief. First up on the brief today, the Bitcoin hash rate has hit

a new all-time high. It is a very Bitcoiny day here on the breakdown, so we might as well

kick off the brief with it as well. The seven-day average hash rate is at 144.29

XA hashes per second, which is a new record, surpassing the 143.19 EHS on September 18th. The hash rate

has increased by almost 40% this year despite the halving which reduces the

miner's reward. This obviously suggests significant confidence about the economic viability

of mining and the broader implication is the strength of the fundamentals of the Bitcoin network.

Price right now is also somewhat reflecting that strength.

Bitcoin got as high as 11,723 on Monday, but is flat today at around 11,350.

Next up on the brief today, a record number of U.S. corporates have lost money during the pandemic.

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