DAiM February 2019 Review


New at DAiM, digital asset Lending. For certain client profiles and risk tolerance, we now offer a way to gain a possible yield on your holdings. There are several ways to structure lending, contact us for rate examples and more information.

Digital Asset Space

February began with BTC at $3435 and closed $3815. Abra now allows users to buy traditional stocks like AAPL with Bitcoin. It is a bit complex in the way it’s done, the underlying method is that Bitcoins are added or subtracted to your account corresponding to the price movement of the stock. It allows you to think you own fractional shares of a stock but you never really own the stock. Regulators could lean on this as being a derivative platform and that investors are blind to how much they could really lose. However, this is a good example of forward progress regarding the capabilities of digital assets. Google has developed a blockchain search platform. This seems similar to their creations for internet search, and that turned out to be insanely profitable for them. JP Morgan, the behemoth bank is creating their own stablecoin 'JPM coin' to help settle transactions and to possibly create digital securities. Don't expect to see this coin on your local exchange and this makes us question Ripples future. A mid-month bump was related to Grayscale's report showing more institutions got involved and the submission of the Bitwise NYSE ETF. We don't see this ETF as being drastically different from the CBOE ETF and unlikely to be approved.

We've heard concern that Bitcoin could be useless if the whole internet goes down but that's not entirely true. Bitcoin can be sent by ham radio and we think more ways will be developed in the near future. To support a complete collapse of prices there are some buyers out there. They are not newbies like those who drove up prices in the fall of '17. They are original whales who are just getting bigger and in dollar terms, these 100 address accumulated over $500m worth of BTC. Altogether they hold 2.29 million BTC. The speculation is that they sold near the peak and are resting below market bids for when a seller dumps.

Our measure of success is how many people tell their friends about us. Thank you to our valued clients for helping us to grow.

Bryan Courchesne

*This is not investment advice. Please contact us before investing [email protected] . Learn more at www.DAiM.io

Digital Asset Investment Management is a licensed Registered Investment Adviser specializing in Bitcoin for 401k's, IRA's and Traditional Brokerage accounts. Learn more at www.daim.io

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