Bitcoin Is Now a Trillion-Dollar Asset: Where Do We Go From Here?

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 20 February 2021

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bitcoin is officially a $1T asset. As the price surged over $54,000, the total market cap of bitcoin reached the new all-time high. In this episode, NLW explores the significance of the milestone, arguing: There has been a slate of good news, from BlackRock rumblings to Canadian ETFs that have been driving recent price action There are a variety of institutions that couldn’t allocate to the space before because it was too small but which are now in play In the wake of the milestone, we’re likely to see more research house FUD We’re also likely to see a number of major bitcoin positions announced in the days to come -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io -- Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW The Breakdown is produced and distributed by CoinDesk.com

Transcript

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0:00.0	Institutional Bitcoin buying in 2021 is an iceberg. We've seen how big the part that's above
0:07.0	the surface is, but we haven't seen how many things are going on just below. A trillion dollar
0:13.2	market size not only incentivizes new people to join up with that iceberg, it also creates
0:19.1	a lot of momentum for the people who have been keeping
0:21.5	what they've been doing out of plain view to lend their voice to this momentum.
0:27.0	Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the
0:34.1	Big Picture Power Shifts remaking our world.
0:43.0	The breakdown is sponsored by nexo.io and produced and distributed by CoinDesk.
0:52.3	Well, damn it. It is Friday, February 19th at 1149 a.m. I just finished today's podcast episode.
0:56.7	It's a ripper about the GameStop hearing yesterday and why it shows how much we need a new financial system. I was sitting here getting ready to push that out
1:01.5	when all of a sudden Bitcoin did Bitcoin things and surged up to a trillion dollars in total
1:09.2	market cap. So here I am. We're switching it. That GameStop
1:13.2	Roaring Kitty episode will be tomorrow. That will be the weekly recap. And now we have got to talk
1:18.8	about Bitcoin as a trillion dollar asset and ask the question, where do we go from here?
1:25.6	There is so much to cover. so let's just dive right in.
1:28.5	And first of all, let's not bury the lead.
1:30.6	Just a few minutes ago, Bitcoin surged above $54,000, which is cool because that's a lot of money
1:37.5	when we started the year under $30,000 per coin.
1:40.8	But turns out that's not actually the big thing.
1:43.4	The big thing was that when Bitcoin
1:45.3	crossed a threshold around $53,700, it became a trillion dollar asset. Now the first question
1:53.9	around that is, how much is Bitcoin being a trillion dollar asset a fund psychological barrier
	...

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