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Excited to share my 2020 #Bitcoin 
review.
2020 will be remembered as the year the long fabled institutions finally arrived and #Bitcoin became a bonafide macroeconomic asset.
Below are the top highlights of each month for Bitcoin’s historic year.
review.2020 will be remembered as the year the long fabled institutions finally arrived and #Bitcoin
became a bonafide macroeconomic asset.Below are the top highlights of each month for Bitcoin’s historic year.
Bitcoin is now at all-time highs capping off an extremely successful year.
But it was by no means stable ride up.
2020 was a historically volatile year.
I provided a detailed overview of every month of 2020 in all its glory.
But it was by no means stable ride up.
2020 was a historically volatile year.
I provided a detailed overview of every month of 2020 in all its glory.
Jan.
3 days into the new year the US assassinated Iran’s top general Soleimani.
BTC surprisingly reacted to the events behaving like a safe haven as the risk of war increased.
The events provided the first hints of BTC potentially having graduated to a legitimate macro asset.
3 days into the new year the US assassinated Iran’s top general Soleimani.
BTC surprisingly reacted to the events behaving like a safe haven as the risk of war increased.
The events provided the first hints of BTC potentially having graduated to a legitimate macro asset.
Feb.
COVID-19 reached a tipping point causing markets to crash.
BTC’s correlation with the S&P 500 reached an ATH in the following weeks.
This is when everyone learned BTC was not a recession hedge, it was a hedge against inflation and loss of confidence in fiat currencies.
COVID-19 reached a tipping point causing markets to crash.
BTC’s correlation with the S&P 500 reached an ATH in the following weeks.
This is when everyone learned BTC was not a recession hedge, it was a hedge against inflation and loss of confidence in fiat currencies.
Mar.
Financial markets in free fall.
The liquidity crisis was so severe BTC experienced one of it’s worst days ever.
Now known as Black Thursday, on March 12, BTC plummeted as much as 50% to below $4,000 at its lowest point on the day.
BTC closed the day down 40%
Financial markets in free fall.
The liquidity crisis was so severe BTC experienced one of it’s worst days ever.
Now known as Black Thursday, on March 12, BTC plummeted as much as 50% to below $4,000 at its lowest point on the day.
BTC closed the day down 40%
The sell-off was so violent that cryptocurrency market structure broke due to a cascade of large liquidations on derivatives exchanges.
With turmoil in broader financial markets as the backdrop central banks start printing and governments launch bazooka stimulus packages.
With turmoil in broader financial markets as the backdrop central banks start printing and governments launch bazooka stimulus packages.
Apr.
Money printer goes brrr meme goes mainstream.
By the end of the month the top four central banks had printed more than $3.5 trillion in just seven weeks.
QE infinity, 0% interest rates, and MMT enter the conversation.
The inflation narrative for #BTC is planted.
Money printer goes brrr meme goes mainstream.
By the end of the month the top four central banks had printed more than $3.5 trillion in just seven weeks.
QE infinity, 0% interest rates, and MMT enter the conversation.
The inflation narrative for #BTC
is planted.
May.
Legendary macro investor Paul Tudor Jones revealed that his Tudor BVI fund would be investing a “low single-digit percentage” of its assets under management in Bitcoin.
Says BTC is the fastest horse in the inflation hedge race and says BTC Reminds him of gold in 1976.
Legendary macro investor Paul Tudor Jones revealed that his Tudor BVI fund would be investing a “low single-digit percentage” of its assets under management in Bitcoin.
Says BTC is the fastest horse in the inflation hedge race and says BTC Reminds him of gold in 1976.
The Bitcoin halving came on May 11, reducing issuance per block from 12.5 BTC to 6.25 BTC.
Despite all the hype around the halving it was ultimately uneventful...
Surprise surprise.
@AltcoinDailyio
@Bitboy_Crypto
@girlgone_crypto
Despite all the hype around the halving it was ultimately uneventful...
Surprise surprise.
@AltcoinDailyio
@Bitboy_Crypto
@girlgone_crypto
Jun.
The most boring month of the year for Bitcoin.
Despite all the action in Ethereum’s DeFi ecosystem and broader financial markets, Bitcoin traded range bound between $9,000 and $10,000 for 60 days starting at the end of May.
It was kind of eerie.
@MMCrypto
The most boring month of the year for Bitcoin.
Despite all the action in Ethereum’s DeFi ecosystem and broader financial markets, Bitcoin traded range bound between $9,000 and $10,000 for 60 days starting at the end of May.
It was kind of eerie.
@MMCrypto
Jul.
The OCC granted national banks and federal savings associations authority to provide cryptocurrency custody services to customers.
This provided regulatory clarity for banks and paved the way for them to launch cryptocurrency products.
@cryptodude999
@tokenmetricsinc
The OCC granted national banks and federal savings associations authority to provide cryptocurrency custody services to customers.
This provided regulatory clarity for banks and paved the way for them to launch cryptocurrency products.
@cryptodude999
@tokenmetricsinc
Aug.
MicroStrategy (MSTR) announced it purchased $250mm worth of Bitcoin (21,454 BTC) as part of a new capital allocation policy aimed at hedging inflation.
MSTR would go on to purchase 70,470 BTC over the next few months.
Its current holdings are worth over $1.7 billion.
MicroStrategy (MSTR) announced it purchased $250mm worth of Bitcoin (21,454 BTC) as part of a new capital allocation policy aimed at hedging inflation.
MSTR would go on to purchase 70,470 BTC over the next few months.
Its current holdings are worth over $1.7 billion.
Sep.
Bitcoin tokenized on Ethereum reached over $1 billion (~92,600 or 0.5% of the total Bitcoin supply).
This growth was primarily fueled by yield opportunities in Ethereum’s DeFi ecosystem.
There is now nearly $3.5 billion of BTC on Ethereum.
@ReySantoscrypto
@crypto_thai
Bitcoin tokenized on Ethereum reached over $1 billion (~92,600 or 0.5% of the total Bitcoin supply).
This growth was primarily fueled by yield opportunities in Ethereum’s DeFi ecosystem.
There is now nearly $3.5 billion of BTC on Ethereum.
@ReySantoscrypto
@crypto_thai
Oct.
First day of the month, the DOJ and the CFTC filed charges against BitMEX.
The group was accused of operating an unregistered trading platform and violating CFTC rules, including AML and KYC regulations.
BTC surprisingly barely flinches on the news.
@vajolleratzii
First day of the month, the DOJ and the CFTC filed charges against BitMEX.
The group was accused of operating an unregistered trading platform and violating CFTC rules, including AML and KYC regulations.
BTC surprisingly barely flinches on the news.
@vajolleratzii
On Oct 8, Square announced it had purchased $50 million worth of Bitcoin (4,709 BTC) for its treasury.
On Oct 21, PayPal launched a new service enabling its 325 million users to buy, hold, and sell cryptocurrency.
we noticed an interesting trend.
@nebraskangooner
@ @888Velvet
On Oct 21, PayPal launched a new service enabling its 325 million users to buy, hold, and sell cryptocurrency.
we noticed an interesting trend.
@nebraskangooner
@ @888Velvet
Nov.
Bitcoin received yet another major institutional validation, this time from legendary macro investor Stanley Druckenmiller who said he owned BTC.
Weeks later Citigroup published a report stating that BTC could reach $318,000 by the end of 2021.
@oddgems @boxmining
Bitcoin received yet another major institutional validation, this time from legendary macro investor Stanley Druckenmiller who said he owned BTC.
Weeks later Citigroup published a report stating that BTC could reach $318,000 by the end of 2021.
@oddgems @boxmining
On December 16, Bitcoin finally breaks all-time highs and blows past the $20k psychological barrier
It was the biggest sign that a new era for Bitcoin had arrived - market validation.
Not surprising, a day later, Coinbase announced it was going public.
@DeFi_Dad @rektcapital
It was the biggest sign that a new era for Bitcoin had arrived - market validation.
Not surprising, a day later, Coinbase announced it was going public.
@DeFi_Dad @rektcapital
#BTC is playing an increasingly important role in the global monetary system, and with institutional grade infrastructure and regulatory clarity, the pathway for increased institutional adoption of Bitcoin in 2021 is clear.
Hope y'all enjoy my 2020 review
@CryptoIndiaNews
is playing an increasingly important role in the global monetary system, and with institutional grade infrastructure and regulatory clarity, the pathway for increased institutional adoption of Bitcoin in 2021 is clear.Hope y'all enjoy my 2020 review
@CryptoIndiaNews
I would love to get a like from people i admire in this space as a token of appreciation.
@AltcoinPsycho
@cointradernik
@CryptoCapo_
@coinmamba
@CryptooAdy
@pushpendrakum
@BTCTimeTraveler
@CryptooIndia
@888Velvet
@pankjtanwar
@thebull_crypto
@CryptoMichNL
@AltcoinPsycho
@cointradernik
@CryptoCapo_
@coinmamba
@CryptooAdy
@pushpendrakum
@BTCTimeTraveler
@CryptooIndia
@888Velvet
@pankjtanwar
@thebull_crypto
@CryptoMichNL
