2023-10-19

⚡ Bitcoin's New BFF: Stablecoins!

October 20, 2023

Good morning, beautiful people,For Halloween this year, I'm dressing up as a bull market....

88 mph achieved...let's go!

📊 Tesla Hodling Bitcoin
🪙 Bitcoin Meets Stablecoins
🎮 ECB Levels Up

🚗 Tesla's Bitcoin Ride Stays Steady

Ever played the game 'Red Light, Green Light'? 🚦 Seems like Tesla's playing it with its Bitcoin stash.

Tesla's bitcoin holdings didn't move an inch in the third quarter, as per their latest earnings report.Not surprising...who would sell in this market? 🤦This digital no-move dance has been on for five quarters straight. 😏 The car giant’s Bitcoin piggy bank, valued at $184 million, is a weighty one – but only the third heaviest among public companies.Only MicroStrategy and Marathon Digital Holdings have beefier Bitcoin wallets. 💼💰

Back in 2021, Tesla, with Elon Musk at its helm, went big on Bitcoin, buying a whopping $1.5 billion worth.They even considered it as a payment for their electric beasts. 🚘 But plans change, and the company U-turned, selling a hefty chunk last year.For now....As for their Q3 earnings? Well, they saw a slide down the earnings hill, with a 44% drop compared to last year. 📉 Ouch!

🌩️ Bitcoin's New Lightning Strike: Taproot Assets

Have you ever dreamt of merging the best of two worlds? Like chocolate and peanut butter? 🍫🥜

Lightning Labs sure did, as they recently introduced Taproot Assets' alpha version.Its primary goal? To blend stablecoins and worldly assets into the Bitcoin and Lightning Network realm. Sounds like a grand plan, right?Yeah, but it'll never taste as good as Reeses!! 🤤

Ryan Gentry, the think-tank at Lightning Labs, imagines this as the way to "bitcoinize the dollar and the world's financial assets." Talk about lofty ambitions! 😇The company stated that this move heralds a new multi-asset Bitcoin era, and developers now have a platform to push financial assets onto the Bitcoin blockchain in a more scalable manner.🚀I wonder what Gensler thinks about this?? He's turning in his crypto, probably! 🧛🤣

Interestingly, there's an overwhelming developer appetite for such stablecoin applications, considering some issuers have more US Treasurys than heavyweights like Germany and South Korea. 😳Perhaps it's high time we swapped our piggy banks for Bitcoin wallets. 🐖➡️💼

🌍 ECB's Digital Euro Adventure: Next Chapter!

Remember those sci-fi movies 🎬 where everyone paid with digital coins, and physical cash was antique?

Well, the European Central Bank (ECB) seems to be pushing us closer to that cinematic future! 🚀As of November 1st, the ECB will move into the 'prepare your battle stations' phase (well, the preparation phase) for their shiny digital euro initiative.🪙Imagine a digital twin for the euro that could jive online and offline across the eurozone, without any existing payment method's hiccups.Sounds neat, right? The ECB is on a two-year mission to get all the nitty-gritty details set, from tech partners 🤝 to user testing for things like friendliness, privacy, and even being green 🌳.This does seem like they are being logical...take note US! 🤐The public will still have their say, and after the 24 months, the ECB will decide whether to roll the dice and take the game forward.

A quick reminder from Christine Lagarde, ECB's head honcho: the digital euro aims to be nosier-neighbor-proof. In other words, maximum privacy.🔒Does that include governments though? 🤔And, according to Fabio Panetta from ECB's squad, it could give European payments a power-up and strengthen Europe's own digital domain.🎮The real question is - ready to level up, Europe? 🌍🎉