Today’s Bitcoin news!

PRICE UPDATE:

So far today we have peaked at $71,582.96 and are currently hanging around $70K +/-. Bitcoin has retested $69K as support and seems poised for a major impulse to the upside.

ETF UPDATE:

Root 🥕 @therationalroot: Outflows continue at Grayscale but are offset by Fidelity and other ETFs. With markets closed over the weekend and a neutral start to the week, Bitcoin has maintained its upward trajectory. #Bitcoin. POST: https://twitter.com/therationalroot/status/1772591691943280725

HYPERBITCOINIZATION:

Amazing excerpt from @parkeralewis’ new book “Gradually, Then Suddenly” foreword by @MartyBent: This is how “#hyperbitcoinization” catches speed 🌪️ trillions of dollars of negative yielding debt move into #bitcoin, maybe just 1-5% at first, seeking yield. #Btc pumps and the value of debt contracts relative to bitcoin. Credit markets get impaired. Fed steps in with QE increasing money supply to help relieve credit markets, portion of this money flows into btc’s fixed supply. This cycle repeats until bitcoin is the dominant “store of value” which is what money should be. Why would you want to sell a good or service in return for a currency that is guaranteed to lose value annually (USD)? POST: https://twitter.com/Lukas7Invest/status/1772458497026011429

ADOPTION:

JUST IN: 🇭🇰Hong Kong to allow #Bitcoin ETFs to be In-Kind - Bloomberg. Are you watching @SECGov 👀. This "could spark AUM and volume in the fast-growing region" says Bloomberg's

@EricBalchunas. This means customers can buy into and redeem out of the fund with Bitcoin, instead of just cash in/out. This is a HUGE improvement to US-based ETFs which are "cash creates" only. POST: https://twitter.com/BTC_Archive/status/1772630842021437756

SATOSHI’S ANONYMITY:

Michael R. Sullivan: V for Vendetta is the best movie ever created 🎆. V sacrifices himself and becomes a symbol, allowing humanity to be free from the chains of oppressive government (sound familiar?). I personally believe this film helped to inspire Satoshi's anonymity after he created #Bitcoin. POST: https://twitter.com/SullyMichaelvan/status/1772644722428740006

BE CAREFUL:

Ooof… @KevinHart4real could’ve played it safe and just saved that money in #bitcoin…would’ve been worth nearly twice as much by now. This is why we don’t shitcoin fellas. POST: https://twitter.com/w_s_bitcoin/status/1772470699619131737

NEWS: Cryptocurrency exchange Kucoin and two of its founders, Chun Gan and Ke Tang, have been criminally charged with bank secrecy act violations and unlicensed money transmission offenses. POST: https://twitter.com/SimplyBitcoinTV/status/1772649035066712336

FIAT/GOVERMENT NONSENSE:

The lesson of the Great Financial Crisis is that the government *will* bail out the charlatans. Gains will be privatized, losses will be socialized. And they thought they would...