China, the country that banned bitcoin in 2021, has now established the National Blockchain Technology Innovation Center. Created by the Chinese Ministry of Science and Technology, the center will develop both software and hardware, focusing on commercial applications to benefit China's economy.
You had a choice last year to follow, or ignore, my advice. As 2022 began, I recommended that you get out of the bond market (moving that money to cash or equivalents) and place 1% of your client portfolios into bitcoin. How’d my advice work out? Well, I was certainly right about the bond market: it fell 13% last year, its biggest loss ever. But bitcoin fell 77% from its November 2021 high! Ugh.
I remain optimistic for the future of crypto, despite the FTX debacle. In fact, saying you are not bullish on crypto because of FTX is like saying you are not bullish on stocks because of Bernie Madoff. FTX has nothing to do with blockchain or digital assets, any more than Madoff had anything to do with the stock market. Madoff was just another con artist who led a massive fraud. And it certainly appears that Sam Bankman-Fried is also a con artist who led a massive fraud. Madoff used the stock market to perpetrate his cons; SBF used crypto.
Read the excerpts of Ric’s conversation with SEC Commissioner Hester Peirce, which aired on Ric’s radio show and podcast The Truth About Your Future. Commissioner Peirce’s comments are her own and not necessarily those of the SEC or other SEC commissioners.
Read the excerpts of Ric’s conversation with Michael Lane, Head of iShares US Wealth Advisory at BlackRock, which aired on Ric’s radio show and podcast The Truth About Your Future.
Read the excerpts of Ric’s conversation with U.S. Representative Jim Himes (D-CT), which aired on Ric’s radio show and podcast The Truth About Your Future.
Read the excerpts of Ric’s conversation with Sunayna Tuteja, Chief Innovation Officer of the Federal Reserve System, which aired on Ric’s radio show and podcast The Truth About Your Future.
The SEC has again rejected spot bitcoin ETF applications from Grayscale, Bitwise, SkyBridge, and others. What will it take for the SEC to approve one of these applications?
Here we are again: another crypto winter. Bitcoin’s price has dropped 70% since November – the 7th time since its inception that this has occurred.
As Ric predicted, algorithmic stablecoins Terra and LUNA imploded – causing some $60B of losses
