Crypto Research
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Crypto takes on Capitol Hill; Recent price action characterized by supply crunch and low exchange volume; Macro picture is uncertain but presents opportunity; Ethereum upside from EIP-1559
CRYPTO TAKES ON CAPITOL HILL Last week, news outlets began reporting on a curious provision tucked away in the 2,700-page, $1 trillion bipartisan infrastructure bill compiled by the Senate. The bill, which is now subject to the Senate amendment process, featured a last-minute, crypto-specific addition that detailed $28 billion of incremental tax revenue resulting from enhanced crypto tax reporting rules. The focal point of the controversial provision was its definition...
Short squeeze takes Bitcoin 40% higher to $40k in a week; Could China’s tech crackdown be a bigger cause and future bullish catalyst than most think?
As a personal note, this will be my last crypto weekly with Fundstrat. It’s been great working with Tom and team, and I’ve learned a lot from Fundstrat over the past nearly two years while here. For those wondering, I’m transitioning to Grayscale where I’ll join the team as the Head of Research. For readers that would like to stay connected, feel free to follow me on Twitter (@David_Grid) or...
CompoSecure Holdings, LLC ("CompoSecure," or the "Company") designs and manufactures metal payment cards for many of the world's leading financial institutions. The Company was the first to produce a metal card in 2003 in partnership with American Express and has since forged deep relationships with additional issuers/resellers such as JP Morgan Chase, Capital One, and Fiserv ( Slide 12 ). The Company produces cards for a variety of proprietary and...
Bitcoin rallies off ~$30k support again; crypto outlook remains choppy for now; macro picture softening; Delta variant may help alleviate a key risk for crypto (Fed tapering); Fidelity institutional survey highlights the big picture opportunity
BITCOIN RALLIES OFF ~$30K SUPPORT AGAIN BUT CRYPTO REMAINS IN A CHOPPY MARKET Crypto is still in a doldrums of summer as many investors have taken a sell in May and go away approach. We think these combined factors below are partially why crypto remains in a choppy market environment for now: -Institutional investors taking money off table early in year locking in performance fees -Many institutional investors who were...