Sunday Rundown - March 7, 2021

Merrily we roll along

Bitcoin’s price continues to meander and remains in a good zone for anybody trying to catch it before it continues its parabola. Still not near the buying zone of my plan.

While its price has seemed tame for the past 11 days, it remains on a path to hit $100,000 by the end of April.

This is still a gambler’s market. As long as we keep up this pace, you will be happy. Just make sure you caught my most recent update.

Read below for some interesting news.

• Dogecoin Accepted as Payment by NBA's Dallas Mavericks as Owner Mark Cuban Invests in NFT Platform

  • Bottom line: Cuban’s pro basketball team will partner with BitPay to enable Dogecoin payments by fans.

  • My take: Mark Cuban thinks crypto is a joke. (DOGE is a joke coin.)

  • Why we care: even if Cuban is using DOGE as a marketing stunt, he’s making crypto seem like a legit technology. First they ignore you, then they laugh at you . . .

• Coinbase’s Registration Statement with SEC Reveals What Could Make Bitcoin and Ethereum Prices Plunge

  • Bottom line: as required by US law, Coinbase disclosed all things that could tank its business.

  • My take: everything that can tank Coinbase can tank you.

  • Why we care: because nobody else does.

• The Associated Press calls the 2020 Presidential Election on Blockchain - A View from Outer Space

  • Bottom line: you can buy a picture of astronauts chasing after a bag of popcorn. It’s valuable because it’s the first one ever.

  • My take: I was not being sarcastic. NFTs will redefine the way we think about wealth and ownership. When you can verifiably prove scarcity without layers of documentation and certifications, it’s only a matter of time before everything—car titles, copyrights, private placements, furniture, everything—gets its own unique identifier. People value authenticity and scarcity. They hate fakes and don’t tend to care about things that everybody else has. NFTs represent a revolutionary way to create and protect value.

  • Why we care: digital art is the first implementation of NFTs, but the potential goes way beyond. It will form the basis of Web 3.0 and the creator economy, whereby people who produce “stuff” will no longer need to rely on big aggregators and distributors to secure their rights, connect to buyers, make money, and grow their brands. To say NFTs will unlock enormous economic value would be an understatement—and it’s too easy to dismiss it as some rich people FOMOing into a jpeg.

Relax and enjoy the ride!

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