Professional Investor Report - October 2022

Professional Investor Report - October 2022

This month we got some good data from big firms like Fidelity and Bloomberg on investor sentiment and digital assets.  We saw a massive amount of bitcoin move, and it cost nearly nothing.  Investors are happy with recent SEC involvement.  Accounting rule changes will make holding bitcoin as a treasury asset much easier.  The lightning network displayed resilience in the face of software bugs.  We follow up on charts, data, and models discussed in previous reports.

TL;DR (Too Long; Didn't Read)

  • ~67% of high-net-worth investors and financial advisors positively perceive digital assets.
  • Binance moved $1,600,000,000 (bitcoin), and it cost them $0.70
  • The US Dollar Index beat everything, including bitcoin.
  • 65% of retail and 56% of professional investors said they are more likely to invest in crypto given greater enforcement.
  • Public and private companies hold 574,000 bitcoin.
  • The FASB (the people who make GAAP) propose new accounting rules for bitcoin.
  • The lightning network squashed bugs.
  • A new lightning accelerator from NYDIG is taking applicants.
  • Data points draw certain conclusions on market cycles, but I'm not convinced.

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