Bull Signals - A Timeline of Recent Events

Bank of America Faces Glitch, Leaving Customers with $0 Balances and Unable to Access Funds

Bank of America experienced a significant technical glitch that left thousands of customers unable to access their accounts, with many reporting zero balances displayed in their banking apps. This incident highlights the risks associated with centralized banking systems and trusting third parties to have full control of your money. In contrast, Bitcoin has demonstrated remarkable uptime since its inception, with over 99.9% availability throughout its history, allowing users to retain full control of their funds without the threat of systemic outages.

PayPal Enables Bitcoin Transactions for 38 Million U.S. Business Accounts

PayPal announced that it will allow U.S. business account holders to buy, sell, and hold Bitcoin, empowering 38 million merchants to integrate cryptocurrency into their payment systems. This move highlights PayPal's commitment to facilitating digital asset transactions in response to growing demand. With the ability to transfer cryptocurrencies to external wallets, businesses can now seamlessly adopt Bitcoin, positioning themselves at the forefront of the evolving financial landscape where decentralization incentivizes widespread adoption.

BlackRock Recommends 84.9% Allocation to Bitcoin for Optimal Portfolio

In a significant shift from traditional investment strategies, BlackRock's recent study suggests that an allocation of 84.9% to Bitcoin within a 60/40 equity-bond portfolio offers optimal returns. This recommendation highlights Bitcoin's unique characteristics, such as its potential for substantial gains and positive skewness compared to traditional asset classes.

SEC Approves BNY Mellon to Custody Bitcoin

The SEC's approval for BNY Mellon is a landmark decision in the U.S. financial landscape. BNY Mellon, one of the largest custodian banks globally, manages over $49 trillion in assets and serves a diverse range of institutional clients. The decision is particularly pivotal as it lays the groundwork for other banks to follow suit, thereby encouraging wider adoption of Bitcoin within traditional banking systems.

Commerzbank Announces Bitcoin Trading and Custody Services

Commerzbank, one of Germany's largest banks, revealed its plans to offer Bitcoin trading services through a partnership with Crypto Finance, a subsidiary of Deutsche Börse. This strategic move reflects a growing recognition of Bitcoin's role in modern finance and the need for traditional banks to embrace the digital asset. As countries and financial institutions integrate Bitcoin into their services, those that hesitate risk falling behind in the global financial landscape.

BlackRock Releases Report Advocating Bitcoin as a Unique Diversifier

BlackRock published a white paper emphasizing Bitcoin's distinctive role as a portfolio diversifier, highlighting its low correlation with traditional asset classes and its potential as a "safe haven" amid geopolitical tensions. The report underscores Bitcoin's superior performance compared to other major asset classes over the past decade, marking a significant endorsement from the world's largest asset manager.

Singapore's Largest Bank to Support Bitcoin Options Trading

Starting to see a pattern here? Major banks everywhere are being forced to expand into Bitcoin custody and trading in an effort to keep up with global competition. DBS Bank has announced the upcoming launch of Bitcoin options trading for institutional clients, expected in Q4 2024. This initiative positions DBS as the first Asian bank to offer such products, catering to the rising demand for sophisticated cryptocurrency investment options and enabling clients to hedge against market volatility.

Mastercard Launches Crypto Debit Card

Mastercard, in partnership with Mercuryo, has launched a debit card allowing users to pay directly from self-custodial wallets. Unlike traditional crypto cards, this new multi-chain offering bypasses centralized exchanges and banks, letting users convert crypto into fiat and transact globally at any of Mastercard's 100 million merchants. Supporting blockchains like Bitcoin, the card integrates with Apple Pay and Google Pay, reinforcing the growing role of digital assets in mainstream finance. Currently available in Europe, expansion plans are in the works.

Morgan Stanley Announces 6% of their Institutional Fund Portfolio stored in Bitcoin

Fiat's 53rd Birthday

53 years ago today (August 15th), the United States left the Gold Standard when President Richard Nixon announced his New Economic Policy, also known as the "Nixon shock". The policy included suspending the dollar's convertibility into gold, which was the final step in abandoning the gold standard. The U.S. had been on the gold standard from the late 1920s to 1932, and again from 1944 until 1971. The U.S. left the gold standard so it could print more currency and curb an economic downturn. In this short period of time, the dollar has lost over 96% of its spending power.

Putin Signs Law Legalizing Bitcoin Mining across all of Russia

Russia’s recent legalization of Bitcoin mining highlights the global race among nations to become dominant players in the Bitcoin mining sector. This move not only reflects a strategic effort to accumulate more Bitcoin, but also underscores the broader geopolitical shift towards harnessing digital currencies for economic power.

Morgan Stanley to Start Pitching Clients to buy Bitcoin ETFs this week

Morgan Stanley's approximately 15,000 financial advisors can now recommend Bitcoin ETFs to their clients. The firm currently manages around $4.8 trillion in assets. While this move is likely to boost Bitcoin adoption, it's important to remember that buying Bitcoin through ETFs contrasts with the core principles of Bitcoin. Owning a Bitcoin ETF is not the same as owning Bitcoin directly, as ETFs are centralized and can be subject to seizure by government agencies. Not your keys...not your coin.

VanEck CEO forecasts Bitcoin at
$350k per coin

In a Fox Business interview, VanEck CEO forecasts bitcoin will eventually grow to half the market cap of gold. This would put the bitcoin price per coin at $350k. He went on to say that the super bullish case once central banks begin to adopt bitcoin is around $2.9 million per coin.

Senator Cynthia Lummis Drafts
'The Bitcoin Act'

The act proposes that the U.S. government acquire up to one million Bitcoin over a set period, representing about 5% of the total Bitcoin supply. This reserve is intended to serve as a hedge against inflation and to strengthen the U.S. dollar in the global financial system. The bill emphasizes the importance of protecting individual financial freedoms, including the right to self-custody Bitcoin.

Donald Trump Speaks at World's Largest Bitcoin Conference

In his recent speech at the Bitcoin Conference in Nashville, Donald Trump discussed several key points: Bitcoin's potential of surpassing gold as an asset, his intention to fire SEC Chair Gary Gensler on his first day in office, his commitment to never sell U.S. Bitcoin and advising others to do the same, and plans for the U.S. to build a strategic stockpile of Bitcoin. Trump also emphasized the importance for the U.S. to become the leading producer of Bitcoin mining within the global landscape.

RFK Jr. Speaks at World's Largest Bitcoin Conference

Robert F. Kennedy Jr. delivered a passionate speech emphasizing the importance of Bitcoin in preserving personal freedom and democracy. Kennedy criticized the Federal Reserve, arguing that its policies favor large financial institutions at the expense of ordinary citizens. He revealed that he holds a significant portion of his wealth in Bitcoin and urged Americans to begin embracing Bitcoin not just as a financial asset, but as a tool for ensuring individual liberty and promoting economic fairness.

Bitcoin Animation is Displayed on Las Vegas Sphere

The Bitcoin logo recently made a high-profile appearance on the Las Vegas Sphere as part of a campaign by crypto.com. The display featured a massive Bitcoin logo followed by rotating golden coins, dominating the Las Vegas skyline for a minute and a half. This moment was seen as a significant step for Bitcoin’s visibility and mainstream recognition.

Larry Fink Pledges Support for Bitcoin on CNBC Interview

BlackRock CEO Larry Fink discussed his evolving perspective on Bitcoin, acknowledging it as a "legitimate financial instrument." Fink, who previously held a skeptical view, stated, "I was a proud skeptic, and I studied it, learned about it, and I came away saying, okay, you know, my opinion [for] five years was wrong." He highlighted Bitcoin's potential as a hedge against currency debasement and likened it to digital gold, emphasizing its appeal for providing uncorrelated returns.

Bitcoin Animation is Displayed on Santa Monica Ferris Wheel

The city of Santa Monica took a significant step by establishing a dedicated Bitcoin Office. This initiative aims to educate the community about Bitcoin and explore potential economic opportunities associated with the cryptocurrency. The office is set up in partnership with the nonprofit Proof of Workforce, and the project comes at no cost to the city.

Michael Dell, CEO of Dell, Posts about Bitcoin on X

Dell reposted a tweet from Michael Saylor, CEO of MicroStrategy and a well-known Bitcoin advocate. Dell's decision to share this with his mass of own followers was seen as a significant endorsement of Bitcoin's potential. A few days later, Dell conducted a poll on social media asking his followers "The most important thing," with one of the options being #Bitcoin, which won the poll. If Dell Technologies were to allocate even a small percentage of its cash reserves to Bitcoin, it could set a precedent for other large corporations to follow, further embedding it into the global financial system.

U.S. Fed Chair, Jerome Powell, says Bitcoin has "Staying Power" as an Asset Class

Federal Reserve Chair Jerome Powell made notable remarks about Bitcoin, acknowledging its "staying power." Powell's acknowledgment of Bitcoin's resilience is particularly meaningful because it suggests a shift in perception among top financial regulators, potentially paving the way for broader institutional adoption. His remarks also come at a time of economic uncertainty, where traditional financial systems are being re-evaluated, making his recognition of Bitcoin's role in the future financial landscape even more impactful.

Argentina Begins Discussion with El Salvador on Success Under a Bitcoin Standard

Argentina's President Javier Milei met with El Salvador's President Nayib Bukele to discuss Bitcoin and its role in their respective countries' economies. Bukele's successful implementation of Bitcoin as legal tender in El Salvador could serve as a model for Milei, who aims to combat its severe inflation and economic instability.

Biden's Economic Advisor Struggles to Explain How the USD Works, in Viral Clip

This is the Chair of the Council of Economic Advisors for President Joe Biden. Not much needs to be said here... just watch the clip.