IA Crypto News Live: Bitcoin, Algorand, Defi, HUT8, Galaxy Digital, Willy Woo, FUD Time and more

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#Bitcoin #Algorand #HUT8 #GalaxyDigital #DeFi #TimDraper

IA Quick news synopsis from Thursday 10th June 2021

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0:00 U.S. Inflation Is Highest in 13 Years as Prices Surge 5% The rapid rise in consumer prices in May reflected a surge in demand and shortages of labor and materials

1:00 Crypto Disruption – Massively – Tim Draper 4 industries – Draper says crypto will reshape finance, insurance, government and healthcare.What is government but a bunch of insurance companies put together? That government can also be much more streamlined and all put in smart contracts. HC, workman’s comp insurance and unemployment insurance and welfare and pensions, social security

2:00 The CEO and co-founder of hedge fund Avenue Capital Group Marc Lasry harbors one MAJOR MISTAKE over his Bitcoin investment. In a new interview with CNBC, Lasry who is worth approximately $1.8 billion says that he ought to have purchased more Bitcoin when it was trading lower.

3:00 FUD TIME Elizabeth Warren – US Senator Elizabeth Warren calls cryptocurrency “a lousy investment” and believes it does not offer the average American a safe alternative to Big Banks. 4th Rate investment. I can attest that that is complete BS owning BTC in 4 digits and ETH at 200. “I’ve got a plan for that” became her signature phase during her presidential campaign

4:00 A Broken Clock – Dave the Wave identifies a key resistance level at around $42,000, and spotlights key areas of support for Bitcoin to hold onto at $33,000, $27,000, and about $20,000 and then $16,000.

5:00 Stock Mkt news S&P 500 Sets New Record as Investors Dismiss Hot Inflation
The Dow Jones Industrial Average gained 0.1%, while the technology-heavy Nasdaq Composite rose 0.8%.

6:30 Brokerage firm BTIG rated Galaxy Digital Holdings (TSE: GLXY) a “buy” with a price target of C$31 in a research report published Thursday. The stock was C$22 as of recording – HUT 8 up 25% on Nasdaq listing… 

7:20 More BTC Good News – The Bank for International Settlements’ Basel Committee, a European regulatory agency, attempting to place much-needed rules Thursday around banks being allowed to hold various cryptocurrencies. 

8:00 Arrington Capital Launches $100M Algorand Ecosystem Fund TechCrunch founder’s second crypto fund will bet on Algorand projects and coins. Algorand, like other protocols, is eager to gain an edge in the lucrative decentralized finance (Defi) arms race. 

International Monetary Fund warns of risks after El Salvador adopts bitcoin as legal tender – course they do. What are they going to do? 

9:00 Willy Woo – super bullish indicator – “What we’ve seen is a lot of value go into stable coins. They’re sitting there on the sidelines just to fly back in once the picture of price action starts to move bullish. It is a good picture.”

10:00 Spencer Schiff Trolling Dad – Bitcoin is a bargain at any price below $10 million.
long/short ratio on binance has been an incredible bottom signal throughout this bull. 100% hit rate so far. 
Jimmy Song If you have a scarce item lumber used cars, possibly a house in a desirable zip code I’d bet you could demand to get paid in #Bitcoin and people would willingly oblige.

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26 comments

  1. Aloha from Hawaii IA! Looks like you're getting some much needed vacation, but still making time to cover the latest on crypto, this is why I will always prefer this channel for my edutainment 🙂

  2. How does one use DeFi in the Algorand space? Perhaps you could talk about this one week?

  3. BTIG – if you look they didn’t even consider the VC and AUM growth in their estimates …. I’ll give them a pass for having trouble giving a PT… but once Mike takes them US market , if you believe in a $100k Bitcoin this will 10-20x from here. Compare COIN Q1 to this

  4. james you are amazing !! thank you for taking time out of your vacation to continue to share your time and knowledge !!!!!!!!!!!!!

  5. Love your channel! I have a question for you that I hope you can help me with. I’m getting ready to invest my 401K into 💯 % crypto currency. My total balance is $400K. What ratio would you have as far as BTC/ETH? Please if you could just put yourself in my shoes and tell me what YOU would do. Ultimately it’s my decision and I’ll always own that fact. I respect your knowledge and forward progressive thinking in the crypto industry. Thank you sooo much for what you do on your channel as it’s so very enlightening and interesting to me. Enjoy your vacation as it sure looks like a beautiful place to be. Best regards, Shawn Lewis

  6. Hello James from Toronto, There is no words to express how you gave people watching you some peace in this tough world. not only related to investments issues , but in everything else. Thank you so much and God bless you and yours.

  7. The central banking system isn’t going down without a fight. They can’t put the genie back in the bottle but that doesn’t mean they wont try. There will be blood!

  8. I love seeing how scared banks and politicians are of the inevitable future. The writing's on the wall 😀

    Thanks for the excellent content again!

  9. Hey James, love your content and I have been swept up in the exciting world of Crypto since about January this year (a short time relatively-speaking I know). Whilst I love your optimism and the exciting future Crypto could bring us I can't help but feel like it's all too good to be true. With Governments around the world all moving in lock-step to curtail our freedoms due to the COVID pandemic and the irresponsible economic management that's resulted, I just have a bad feeling in my gut that the powers that be will simply shut down this wonderful space via burdensome regulations and excessive taxes. I'd love to be able to escape to one of the crypto-friendly destinations covered in a recent Coin Bureau video but right now I'm not even allowed to leave the country due to COVID restrictions! What I'm saying is that Government's don't want the average person to find financial freedom. They want to keep their cogs in the machine, wage-slaving for their fiat currency and only investing in heavily regulated assets such as real estate, bonds and stonks. I want to be hopeful but I've seen too many of the freedoms I once enjoyed go flying out the window in the last 18 months. Sad times.

  10. Elizabeth Warren, not exactly the biggest brain in the room. That is why she is with the Dems.

  11. Algorand looks to be in a strong position. Glad you're covering networks going under the radar in the states…

  12. The sooner US private healthcare gets disrupted the better. The sick are being ripped off! The fact the top reason for bankruptcy in the US is healthcare bills makes my stomach turn.