And Ollie, this is important because crypto is a huge, huge part of what our audience likes to invest in, even if Warren Buffett and Charlie Munger don’t get it.
OLLIE LEECH: Yes, so basically one of the big problems with Ethereum right now is that people are overpaying for fees.
And obviously, Dogecoin as well, is having this insane run-up fueled by celebrity endorsement, obviously, Elon Musk and, obviously, all the social media hype behind it.
But, you know, the crypto returns have been ginormous, which isn’t even a word, but you get the idea.
But that being said, you know, decentralized financial space where a lot of people are making money right now in these decentralized applications, they’re run by smart contracts.
Long, long term, I think with the halving coming up in 2024 and the year after that always seems to do very, very well for Bitcoin.
Ethereum, though, brings in this other element of utility that we just don’t have with Bitcoin.
ADAM SHAPIRO: Charlie– sorry, Ollie– I realize you just said Bitcoin going to a million dollars a coin.
If you look at the stock to flow model, which is a really popular metric for gauging the potential price rise of Bitcoin, it’s fairly accurate.
Ollie Leech, CoinDesk Learn editor, it was good to have you here.
The same company behind the S&P500 and Dow Jones stock market gauges launched the S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index, as a way of bringing the digital currencies to Wall Street trading floors.The indexes will measure the performance of the digital assets tied to them.More crypto-indices will be launched later in the year.
“Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.
nonprofit Digital Dollar Project is set to launch five pilot programs over the next year to test the potential uses of a U.S.
— The parent company behind the popular Grayscale Bitcoin Trust said it’s upping the amount of shares it plans to purchase as the fund remains at a deep discount to its holdings.Barry Silbert’s Digital Currency Group Inc., which controls Grayscale Investments, said Monday it will now buy up to $750 million GBTC shares.
New York timeThe Nasdaq 100 fell 0.4%The Dow Jones Industrial Average rose 0.7%The MSCI World index rose 0.2%CurrenciesThe Bloomberg Dollar Spot Index fell 0.3%The euro rose 0.3% to $1.2062The Japanese yen rose 0.2% to 109.10 per dollarBondsThe yield on 10-year Treasuries declined two basis points to 1.60%Germany’s 10-year yield was little changed at -0.20%CommoditiesWest Texas Intermediate crude rose 1.4% to $64 a barrelGold futures rose 1.4% to $1,793 an ounceFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
— ForgeRock Inc., a maker of identity-verification software, is working with banks on an initial public offering this year, according to people familiar with the matter.The San Francisco-based company is working with Morgan Stanley on an IPO, which could come as early as the third quarter, the people said, asking not to be identified because the matter is private.ForgeRock could seek a valuation of $3 billion to $4 billion, or possibly higher, one of the people said.ForgeRock’s plans aren’t final and the timing and details of its potential listing could change.Representatives for ForgeRock and Morgan Stanley declined to comment.The IPO market has been hospitable to enterprise software firms, which make most of their money selling their products to other companies.
DAO token holders could vote on projects for investment and the relationship between them and the overall organization was governed by smart contracts on Ethereum’s blockchain.
wheat futures have surged 53% since late June, touching an eight-year high last week.Australia has been China’s biggest provider of barley over the past decade, according to MIT Media Lab data through 2019, with the Asian giant regularly sourcing well over half of its imports from Australian farms.Read more on the China-Australia trade feud:Australia Probe of China Port Signals Trouble for BeijingChina Is Drinking Barely A Drop of Australian Wine After TariffsAustralia Won’t Swap Values for China Talks, Minister Payne SaysFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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