4.8 • 689 Ratings
🗓️ 8 March 2024
⏱️ 3 minutes
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Host Jennifer Sanasie breaks down the latest news in the crypto industry including the next steps for Terraform Labs co-founder Do Kwon and a JPMorgan report that compares bitcoin and gold’s allocation in investor portfolios.
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"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines impacting the crypto industry today, including a JPMorgan report that says bitcoin is unlikely to match gold’s allocation in investor portfolios due to heightened risk and volatility. Plus, Optimism Foundation selling about 19.5 million OP tokens to an unidentified buyer and Terraform Labs co-founder Do Kwon's next steps.
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This episode was hosted by Jennifer Sanasie. “First Mover” is produced by Jennifer Sanasie and Melissa Montañez and edited by Victor Chen.
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0:51.4 | Bitcoin is unlikely to match gold's allocation in investors' portfolios. In normal terms, that's |
0:57.4 | according to a research report by J.P. Morgan. The report said that gold is the best comparison |
1:02.3 | for Bitcoin, given the investor perception of Bitcoin as a digital version of the metal, |
1:07.9 | analysts wrote that Bitcoin's volatility, which is almost four times the |
1:12.3 | volatility of gold, makes it unrealistic to expect Bitcoin to match gold in investors' portfolios |
1:18.1 | in notional amounts. J.P. Morgan said that if Bitcoin were to match gold in risk capital terms, |
1:24.1 | the implied allocation drops to $0.9 trillion, implying a price of $45,000, notably lower |
1:31.2 | than current levels. As of 10 a.m. Eastern Time, Bitcoin is at around $68,500, up over 2%. And the |
1:38.8 | Coin Desk 20 index is also up over 2%. Optimism Foundation sold almost 20 million OP tokens to an unidentified buyer. |
1:47.8 | The tokens are worth about $89 million at current prices. |
1:51.6 | The sold tokens are subject to a two-year lockup, but the buyer can delegate those tokens |
1:56.8 | to unaffiliated third parties for participation in governance decisions, giving the same benefits as an unvested holder. |
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