Crypto Fundraising and the Nothing-Is-Safe Haven
The Breakdown
Blockworks
4.8 • 806 Ratings
🗓️ 10 March 2020
⏱️ 14 minutes
🔗️ Recording | iTunes | RSS
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| 0:00.0 | Welcome back to The Breakdown, an everyday analysis breaking down the most important stories in Bitcoin, crypto, and beyond, with your host, NLW. |
| 0:15.0 | The Breakdown is distributed by CoinDesk. |
| 0:20.0 | Welcome back to the breakdown. |
| 0:22.7 | It is Tuesday, March 10th, and I got to tell you guys, yesterday was exhausting. |
| 0:29.6 | And well, it should have been. |
| 0:30.7 | It ended up being the worst day in markets since 2008, since the last financial crash. |
| 0:40.0 | It wasn't much better for Bitcoin. It was maybe a little bit better by percentages, but it wasn't much better around here. In fact, everything kind of moved |
| 0:45.8 | in lockstep down. Now, because of that, much of the conversation today has been about Bitcoin |
| 0:51.6 | as a safe haven asset or even as a non-correlated asset and whether this |
| 0:56.4 | just puts the nail in that narrative coffin. So I am going to touch on that a little bit to kick |
| 1:01.6 | off today's show. However, at the risk of being polyanish about what we're facing next, |
| 1:08.2 | I think that we're in for a very long, very extended, challenging period, |
| 1:14.5 | both in the context of this public health emergency as well as in the context of not just the |
| 1:20.4 | market's ability to deal with it, but the economy's ability to deal with it in general. |
| 1:26.1 | Because of that, we're going to have to win some positivity |
| 1:28.8 | where we can here and there. And so today I'm going to actually look at a slate of fundraising |
| 1:34.8 | news from the last few days. Companies that were fortunate enough to get their capitalizations |
| 1:40.6 | done before the coronavirus really kicked in, I think are in a good position |
| 1:46.1 | as long as they manage their treasury as well. So we're going to look at some of that news and |
| 1:50.7 | hopefully remind ourselves that even as bad as this might get, it will pass and a whole new |
| 1:56.7 | set of exciting companies and ideas and innovations will come out of it too. So that's where we're |
| 2:02.8 | going to focus today. First up, like I said, let's look at the safe haven asset narrative in the |
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