Developments at DAIM One year ago on May 31st, Digital Asset Investment Management became the first-of-its-kind registered investment advisor for digital assets. When I look back now on the process of regulatory approval it gives me pride knowing that they were able to see that people needed help investing in digital assets.
I want to introduce you to a new member of the team, Adam Pokornicky. He comes from Ikigai, the crypto fund and brings with him a drive for business development that will allow retail investors of all net worths to invest in digital assets.
We are excited about what we are creating and will share these developments with you soon!
Digital Asset Space May began with BTC at $5,390 and closed at $8,520. Bitcoin broke above resistance while the number of shorts reached a record high, a good sign for building a base. Overnight of the 16th one $35m sell order tripped algos and moved BTC back down to 7100. It then quickly recovered.
Those receiving a Federal or State refund can have it paid in Bitcoin. This was done by the collaboration of Bitpay and the tax services company Refundo. Achievements like this are good for Bitcoin. The CEO of Rocket Lawyer said that it may soon be using the Ethereum network for smart contracts. Facebook is going to loosen its ban on cryptocurrency adds. Forbes.com published an article talking about how much digital currency should go into an investor's portfolio. Those giving comments were from the crypto space and their views ranged from 0% - 30%. Canaccord Genuity, a Canada based financial services firm, said in a report it sees Bitcoin reaching $20k by March 2021.
Using Gemini’s exchange and clearinghouse and Flexa’s transaction technology most of the stores an American consumer encounters in their trip to the mall now accept Bitcoin or other cryptocurrencies as payments. Flexa works with companies like Nordstrom and Whole Foods.
The IRS will soon give Congress some narrative relating to crypto and taxes, this should be big news. For those following Bloomberg's Mike McGlone raises his BTC range to now $6,000 - $10,000.
Data from Google Trends show that global searches for Bitcoin are only near the same levels they were in May 2017. This trend is despite the fact that BTC is enjoying a bullish revival in 2019, with its price increasing by about 130 percent since the start of the year. It is reasonable to conclude that FOMO-driven BTC investment hasn’t reached significant levels.
Any referrals you make will positively affect the growth of this practice. We greatly appreciate being able to serve you!
Our measure of success is how many people tell their friends about us. Any referrals you make will positively affect the growth of this practice. We greatly appreciate being able to serve you!
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