Satstreet
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Satstreet

TWR — Bitcoin Rips Through to $29k & New Offering

Hint: “Paid in Bitcoin.” Russel Okung, December 2020

Happy New Year! 2020 was an incredibly strange and challenging year to say the least (even stranger than the feeling of writing this on New Years Eve in past tense). This was actually the first holiday season I’ve spent away from my family who are currently enjoying the sunshine in LA while I was on and off stuffy trains to and from The Nations Capital (sounds a bit more exciting than Ottawa) — neat.

It was a very generous Christmas as far as presents go but let’s face it, the best gift was the hockey stick growth for Bitcoin climbing over $1000/day to kick off the holidays. Even my sceptical 50 something year old dad felt real FOMO for the first time and strapped on some bitcoin. Truly, the gift that keeps on giving.

What we saw on the desk

Since I missed last week’s recap I’ll try to condense two weeks into one. They were both busy to say the least. To give you an idea of how busy we were last week, our co-founder and Head Trader, Jon Lister was trading well into the wee hours Christmas Day — he could’ve sworn he saw Santa and his reindeer but I think it was just exhaustion. We’ve seen a record number of new account registrations which has led to a flurry of action on the buy side from new entrants as well as hodlers adding to their positions. Amongst the action on the buy side we have seen some selling from miners and early-crypto adopters. The buy side to sell side ratio was roughly 90/10 during the second half of December.

2020 Year End Thread:
If you didn’t spend as much time on (Crypto) Twitter as I did this year, I came across this great thread highlighting the best Bitcoin tweets of 2020 in chronological order. It tells quite the story — time flies!

The Bitcoin Life Raft

A typical Bitcoiner’s Christmas holiday consists of many conversations around the dinner table with family and friends preaching the good word of Bitcoin. This year felt different, for me at least. As early adopters we see the inevitable problems from central banks printing copious amounts of cash to band-aid deep systemic issues. We believe this heightened level of government intervention is causing more harm to our economic future. We view Bitcoin as the best path for people to protect themselves from these consequences. Long Bitcoin, short the banks — right?

Just because we have doomsday written all over our portfolio doesn’t mean we want things to be so grim. I mean, you’re not going to hear us complain about being up 300% this year alone… we might even choose to be boastful among the naysayers… this is our reward for strong hands and patience. But how about everyone else?

Why do innocent hard working people have to take risks with their savings in order to keep up with inflation? When I say inflation I mean real inflation.

The inflation measure that the central bank tracks is a market basket of consumer goods and services that does not include equities and real estate. It’s totally defective. If you want to stream movies on Netflix for the rest of your life and live in your parents basement then sure, there’s no inflation.

There’s massive inflation (15–35% per year) in everything you want to buy.

  • Inflation in real estate
  • Inflation in stocks
  • Inflation in gold
  • Inflation in virtually everything scarce

So how do you protect yourself?

I’m thinking about my 20 year old sister working in tech sales and her asking me what she should do with the Bitcoin I gave her last Christmas. Should she buy more? How about $5,000?

News broke the other day about NFL Player Russell Okungs becoming the first professional athlete to receive their salary in Bitcoin.

There are many early adopters that have been doing this manually — receiving their direct deposit, sending an e-transfer to an exchange, and then trying to time their purchase. Not very efficient.

This is why we’ve decided to launch the first Bitcoin Payroll Solution in Canada.

Automatically earn Bitcoin straight from your bank account on your own schedule.

As an early V1, we’re offering this service to current clients on an invite only basis. We believe that you should have the opportunity to be paid in the hardest money in history.

Being a prudent and disciplined saver should be good enough.

Bitcoin Payroll Solution:

1. Fill out the form here.

2. Receive your custom Bill Payment code.

3. Set up a recurring Bill Payment from your bank online. This can be $100 to $50k on your desired schedule — daily, weekly, bi-weekly, or monthly.

4. Sit back and watch your Bitcoin balance grow.

In case you missed it…

I send this email to our investors weekly. If you would also like to receive it every Friday, join the others today and Subscribe Now!

If you’re interested in learning more about opening a trading account with Satstreet please email me directly at mike@satstreet.com. If you’re ready to open account please sign up here.

Satstreet serves private Canadian clients including some of the largest Bitcoin mining operations, institutions, and high net worth individuals. Satstreet has raised initial funding from Round13 Capital and several prominent investors.

Privacy. Security. Best Price Execution.

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