Nathan Cummings was a grocery tycoon (you don’t hear those two words very often) who built Consolidated Foods, later known as The Sara Lee Corporation. You may know Sara Lee for their frozen cakes, but the company was much more, selling a wide variety of foods, beverages, and household products around the world.
Although he came from humble beginnings, the first child of Jewish Lithuanian immigrants, Cummings became a very rich man. As his wealth grew, he gave much of it away, becoming an avid philanthropist, especially in the arts. …
Way back in February 2020 B.C. (Before Covid), U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce put together a proposal to help the blockchain industry innovate in a safe manner. In plain language, she suggested a three-year “Safe Harbor” — or grace period — to allow blockchain projects to achieve decentralization, allowing more projects to be “born in the USA.”
We were very supportive of this idea, and since Commissioner Peirce asked for feedback from the blockchain community, we worked with our Bitcoin Market Journal newsletter subscribers to help improve the proposal. …
That’s it. Set it and forget it.
The goal was to make it super-easy for everyday investors to build long-term wealth: blockchain for everyone.
I couldn’t get any financial advisers interested in the Blockchain Believers Portfolio.
I couldn’t get any bankers interested in the Blockchain Believers Portfolio.
This is a big deal, because now it allows you to collaborate with your entire team to create better content.
Here’s what it looks like in the Media Shower platform:
I bought a Tesla with bitcoin.
In this column I’ll explain how I did it, and saved money at the same time. (You can also download our new bitcoin-to-Tesla spreadsheet at the end of this article, if you want to run the numbers yourself.)
Back in February 2021, when Daddy Musk announced we’d be able to buy a Tesla with bitcoin “in the near future,” my wife and I went to our local Tesla dealer to inquire. They had no idea what we were talking about.
But this got our wheels turning. We were in the market for a new…
Quick Summary: As blockchain investors, we look for underlying value. Most NFTs today have zero underlying value. But NFTs as a concept have a ton of potential value, especially if they are linked to things that really do have value (like earning future royalties on a pop song NFT, for example).
The illustration above is an animated flying cat with a Pop-Tart body. It recently sold to a collector for over half a million dollars.
If you’re new to this world of digital collectibles, also known as non-fungible tokens (NFTs), this will require some explaining.
A new blockchain project called Big Data Protocol launched one week ago. As I write this, the project is currently worth $100 million. Let me repeat: $100 million in one week. Today I’ll explain how they did it.
This won’t be easy, because this project is made out of weapons-grade Unexplanium. That said, there is something innovative here: it’s a sign of what awaits us in the very near future. As investors, it’s critically important to take away several lessons from this project, whether or not you choose to invest.
We’ll begin with a quick blockchain history lesson.
In my Part 1 of my series on meme stocks, I explained how Elon Musk is using the new communication form of Internet memes to drive up the price of both Dogecoin and Bitcoin. The TL;DR version is:
· Memes are the way a new generation of investors communicate;
· Memes spread like viruses;
· Like viral DNA, memes pack a lot of meaning into a short encoded picture or video.
When memes are used to promote specific stock market investments (GameStop) or block market investments (Dogecoin) where there’s very little underlying value, we have a problem, because things can…
Elon Musk has big ambitions.
He’s not only trying to move the planet to electric cars, he’s trying to get humanity to Mars. This “cars and Mars” strategy, of course, requires a lot of money. Fortunately, Musk has perfected the art of meme marketing, first driving up the price of Tesla stock, then recently dogecoin and bitcoin.
Today I’ll take you on a weird trip that explains how meme marketing works, how Elon Musk uses it so effectively, and what this all means for bitcoin investors (short answer: it’s good news).
Let’s end short selling in the crypto markets.
Shorting the stock market, of course, is perfectly legal: it’s the cause of the recent drama around GameStop. Big hedge funds thought GameStop was failing, so they bet on its demise. (In a short sale, you bet that a stock price will fall — unlike value investing, where you want the stock price to rise.)
When the Reddit r/wallstreetbets community saw this greedy (and possibly illegal) behavior by the hedge funds, they grouped together to buy GME: in essence, driving GameStop’s stock price in the other direction, and forcing the hedge funds…