BowTiedSats
Posts
$10T BlackRock Joins Crypto Space

$10T BlackRock Joins Crypto Space

Sats O'Clock
August 05, 2022

Wake Up! It's Sats O'Clock.

Good morning. It's August 5, 2022.

Bitcoin is hovering around $23.1K at the time of writing.

Starting off the letter with a very important topic.

"A failure to understand proof of work is a failure to understand #Bitcoin" - @dergigi
Satoshi used difficulty-adjusted proof of work to combine money, time, energy, and information to create the best money in human history.
#Bitcoin's use of proof of work is the innovation.
— Jack Mallers (@jackmallers)
2:05 AM • Aug 5, 2022

Jack Mallers nailing all the points.

#Bitcoin miners, like Gold miners, don't create money.
They mine money that already exists.

However, #Bitcoin measures its mining demand and dynamically adjusts the difficulty to mine it, cementing its monetary policy in time.
This makes #Bitcoin the harder asset.
— Jack Mallers (@jackmallers)
2:05 AM • Aug 5, 2022

MASSIVE adoption.

💥BITCOIN MASS ADOPTION
$10T asset manager BlackRock offers #Bitcoin to institutions.
$4.5T asset manager Fidelity offers #Bitcoin to pension savings accounts.
It's happening...
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive)
4:31 PM • Aug 4, 2022

Everyone will learn eventually.

BlackRock in 2017: CEO Larry Finks calls #Bitcoin "an index of money laundering."
BlackRock in 2022: The $10 trillion asset manager will offer bitcoin trading to institutional clients.
— Bitcoin Magazine (@BitcoinMagazine)
5:06 PM • Aug 4, 2022

Bitcoin adoption made easier in Argentina.

💥BREAKING: MasterCard just launched a #Bitcoin pre-paid card in Argentina! 🙌
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive)
3:42 PM • Aug 4, 2022

Meanwhile in the UK.

BREAKING:
- Bank of England says the UK will enter into a recession lasting until mid 2024.
- Inflation to exceed 13%.
- Interest rates increase by 0.5% to 1.75%, biggest rise in 25 years.
A #bitcoin bull run would be great right about now!
— Layah Heilpern (@LayahHeilpern)
11:34 AM • Aug 4, 2022

Reminder.

75% of all US dollars in existence were printed after #Bitcoin was created.
Short dollars, buy Bitcoin.
— Dan Held (@danheld)
4:34 PM • Aug 4, 2022

If you missed it...

Don't forget.

How banks work — How #bitcoin works
— Documenting Bitcoin 📄 (@DocumentingBTC)
8:56 PM • Aug 4, 2022

A special video, emphasizing the need for building.

“America is in a though spot right now. I think we’ve forgotten the basics. We’ve become prosperous for so long we forgot how much work it took to build”—Steve Jobs, 1991
— Brian Roemmele (@BrianRoemmele)
1:57 PM • Aug 2, 2022

MEME OF THE DAY

Spent it all on sats!

Normies just don't understand. #Bitcoin
— The Bitcoin Conference (@TheBitcoinConf)
8:18 PM • Aug 4, 2022

We send a free 60 second summary of Bitcoin news right to your email everyday.