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UFC 300 Winner Wants His Bonus in Bitcoin
Personal Journey Update
Weekly Fact
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UFC 300 Winner Wants His Bonus in Bitcoin
Renato Moicano, a Brazilian UFC fighter, emerged victorious in a UFC 300 fight on April 13 and made headlines by requesting his $300,000 bonus to be paid in Bitcoin (BTC). His unconventional speech after the fight, referencing Ludwig Von Mises and Austrian Economics, sparked discussions about Bitcoin's role as a financial tool.
Key Points:
Renato Moicano's Bitcoin Bonus Request:
Following his victory, Renato Moicano publicly requested his $300,000 bonus to be paid in Bitcoin, drawing attention from cryptocurrency investors and enthusiasts.
Despite his request, Max Holloway received the Performance of the Night bonus, with Moicano displaying sportsmanship and acknowledging Holloway's deserving win.
Unconventional UFC 300 Speech:
Moicano delivered an unconventional speech after his victory, expressing his admiration for America, the Constitution, and the First Amendment.
He encouraged people to read Ludwig Von Mises and the Six Lessons of the Austrian Economic School, referencing Mises' book "Economic Policy: Thoughts for Today and Tomorrow."
Bitcoin and Austrian Economics:
Bitcoin is often regarded as an application of Austrian Economic principles, addressing issues like inflation described by Ludwig Von Mises.
Moicano's request for his bonus in Bitcoin aligns with the belief that Bitcoin serves as an inflation hedge and a financial tool based on Austrian Economic theories.
Challenges Facing Bitcoin:
Despite its theoretical benefits, Bitcoin faces challenges as a medium of exchange due to issues like high network fees.
Bitcoin enthusiasts like Renato Moicano continue to advocate for using BTC as money, but widespread adoption as a payment method remains a topic of debate.
Potential Impact on UFC Payments:
Moicano's request raises questions about whether the Ultimate Fighting Championship organization will consider making payments using Bitcoin, reflecting a growing interest in cryptocurrency adoption across industries.
Hong Kong Poised To Approve Spot Bitcoin And Spot Ether ETFs
Hong Kong is on the verge of becoming a major player in the cryptocurrency exchange-traded funds (ETF) market, with potential approvals for spot Bitcoin ETFs and spot Ethereum ETFs expected as early as this month.
Key Points:
Strategic Move by Hong Kong:
Hong Kong's potential approval of spot Bitcoin and spot Ether ETFs positions it as a competitor to Singapore and Dubai in the race to become a leading digital asset hub.
Leading Candidates for Approval:
According to reports, international asset manager Harvest Fund Management and a partnership between Bosera Asset Management and HashKey Capital are frontrunners for approval of their spot ETFs by the Hong Kong Securities and Futures Commission (SFC).
Both firms aim to launch their ETFs by the end of the month pending the finalization of listing details.
Significance of Regulatory Approval:
The potential green light from regulators marks a significant shift for Hong Kong, which previously only permitted futures-based crypto ETFs.
Existing futures-based products, including CSOP Bitcoin Futures, CSOP Ether Futures, and Samsung Bitcoin Futures, have a combined value of roughly $170 million.
Impact of US-based ETF Success:
The news follows the successful launch of spot Bitcoin ETFs in the US in January 2024, which have attracted a staggering $59 billion in assets thus far, contributing to a surge in the cryptocurrency market.
Hong Kong's Ambitions in Digital Assets:
Hong Kong's foray into spot crypto ETFs aligns with its broader ambitions to become a digital asset hub, demonstrated by its implementation of regulations for virtual asset service providers and approval of platforms operated by HashKey Group and OSL Digital Securities.
Debate on Fairness and Impact:
The move has sparked debate within the crypto community regarding the fairness of the regulatory framework and its potential impact on the global cryptocurrency market.
Future Outlook:
The evolving landscape of cryptocurrency ETFs and their impact on global markets are likely to be significant topics at industry gatherings, reflecting the growing importance of digital assets in the financial landscape.
Don’t Forget about Threads
Instagram Threads has experienced fluctuations in user engagement, capturing attention with its rapid growth and subsequent decline, only to rise again as a significant platform within the social media landscape.
Key Points:
Rapid Growth and Initial Decline:
Threads garnered over 1 million users within an hour of its launch on July 5, 2023, reaching 70 million users within two days.
However, daily active users in the U.S. dropped from 2.3 million in July 2023 to 576,000 by August 2023.
Remarkable Resurgence:
Despite the initial setback, Threads has made a remarkable comeback, boasting 160 million users, including 130 million monthly active users, as reported by explodingtopics.
Integration with Instagram:
Threads' integration with Instagram provides users with a unique opportunity to leverage their existing Instagram following to promote their Threads account at no additional cost.
Moreover, as a newer platform, Threads offers less competition for attention, potentially increasing content visibility and engagement.
Revenue Projections for Meta:
Meta anticipates significant revenue from Threads, with projections of $800 million in 2023, $4.5 billion in 2024, $8 billion in 2025, and $11.3 billion in 2026.
Potential Gold Mine:
Threads represents a lucrative opportunity for both Mark Zuckerberg and users alike, emerging as a potential gold mine within the social media landscape.
Seizing the Opportunity:
While other platforms remain relevant, the resurgence of Threads underscores the importance of catching this wave and leveraging its growing popularity in the evolving social media landscape.
Personal Journey: Outside
I’m Outside this weekend, it’s that simple, spend time outside, rain or shine and you will feel better.
Spend time in nature and you’ll find much more clarity and peace than you ever will looking at a screen.
Keep it simple, go outside.
Weekly Fact
The human brain's storage capacity is estimated to be equivalent to 2.5 petabytes (or 2,500 terabytes).
That’s roughly equivalent to 3 million hours of TV shows.
Quote of the Week
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