Episode 28 of Season 3 of The Scoop was recorded remotely with Frank Chaparro of The Block and Martin Green of Cambrian Asset Management.
Bakkt® unlocks over $ 1.2 billion in digital assets currently held in cryptocurrencies, rewards and loyalty points, game assets, and merchant stored value. We started in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin futures and options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and allow users to trade, transfer and pay however they want. Visit Bakkt.com for more information
Whether you are an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With over 50 cryptocurrencies to choose from, industry-leading security, and a wide variety of features to suit any investment strategy, Kraken puts the power in your hands to buy, sell, and trade digital assets. Visit Kraken.com to start today.
Exodus takes the world of traditional finance out by creating beautiful and user-friendly crypto products. Forget about having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides intricate details behind a beautiful and intuitive interface.
Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. The funds remain in your full control.
The trigger-happy Elon Musk’s Twitter fingers have left the bitcoin world in a state of mind in recent days.
As the Wall Street Journal noted in a recent article, Musk has become Bitcoin’s “biggest influencer” – much to the dismay of many evangelists. Since he first tweeted that Tesla would stop accepting bitcoin as a form of payment due to environmental concerns, bitcoin has fallen about 40% from its all-time high.
More recent tweets about Musk working with North American miners to address environmental concerns have pushed crypto to lows near $ 30,000.
In this most recent episode of The Scoop, Martin Green, who heads quantitative investment firm Cambrian Asset Management, explained why Musk’s tweets have such a disproportionate impact on the crypto market. In Green’s opinion, it’s not so much Musk’s tweets that matter as the environment in which he tweets.
“Often the news itself, like Elon’s tweet, would have a different consequence in a different situation,” he said. “You can light a match in the middle of my alley … you can take that match and drop it on the floor in an open space. Monstrous difference in consequences. Still the same match.”
Green said the crypto market is prepared to overreact to market news with the amount of leverage in the system, which creates “a cascade of selling pressure.”
The lack of institutional cash purchases recently fueled the fire.
Still, Green said there were a number of favorable winds for the industry. He said there are macroeconomic forces that indicate institutions are under-allocated to the crypto market, specifically noting that Ethereum is “quite under-held.”
© 2021 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.