Macro Winds Propel Bitcoin's Institutional Sail
This week, we saw CATNIP climb out of the bag, Fractal dreamed bigger than its britches, and AI miners found the key to profit.
This week, we saw CATNIP climb out of the bag, Fractal dreamed bigger than its britches, and AI miners found the key to profit.
Restaking is making its mark on Bitcoin, and the Ordinal controversy is causing quite a stir. Meanwhile, MEV is evolving, pushing new boundaries, and Fractal Bitcoin just went live, kicking up its own cloud of dust.
This week, we witness the clash of titans and the birth of new paradigms. A battle unfolds as tBTC challenges wBTC's dominance, while Bitcoin miners watch the clock run down on their machines, and the old four-year cycle flickers like a distant memory.
They say a man dies twice—once when he stops breathing, and again when his name is spoken for the last time. But Hal Finney? He’s still very much alive, living in every line of code, every block mined, every transaction sent.
We've seen what happens when we forget our roots - the FTXs, the Celsius', the wBTCs of the world. These weren’t cautionary tales; they were alarm bells. Yet, in the midst of this chaos, tBTC continues its rise, proving that the decentralized spirit is alive and well.
Wrapped Bitcoin showed us how easy it is to slip back into old habits, trusting central figures. But tBTC reminds us of what's important. It's not flashy. It doesn't make big promises. It just does what Bitcoin was meant to do.
We've witnessed the Bank of Japan pirouette away from its tightening stance, sending ripples through the Yen carry trade that could rival a tsunami. Meanwhile, Bitcoin stands at a crossroads.
From zero-knowledge proofs pushing the boundaries of what's possible on-chain, to neo-banks like Fold bringing Bitcoin rewards to the masses, BitcoinFi is evolving at a dizzying pace.
From tBTC proposals and TON bridges to high-yield synthetic dollars and ZK-proofs on Bitcoin, BitcoinFi is buzzing with exhilarating and revitalizing energy.
The juxtaposition of centralized institutions' views of Bitcoin, their actions wrought with pervasiveness and fear, compared to the jittery fever of BitcoinFi development, reminds us of the early days of DeFi...goosebumps, to say the least.
From Bitcoin-backed stablecoins to advancements in the Lightning Network, Bitcoin is increasingly integrating into our financial system, and we're excited to watch the continued growth.