Welcome to a brave new world. History is unfolding before us as we witness the evolution and acceptance of cryptocurrencies within the global economy.
This week, Coinbase launched its much-anticipated Initial Public Offering; not only is it the world’s largest digital currency exchange, but it is now the first publicly traded cryptocurrency company. This is an important milestone for the sector and is a testament to how quickly consumers globally have embraced digital currencies like bitcoin, ethereum, and litecoin, among others.
Last week, billionaire Bitcoin investor Michael Novogratz made headlines worldwide when he said in an interview on CNBC’s “Squawk Box” that he was surprised with how fast the cryptocurrency is being accepted within the financial landscape.
“Adoption’s happening faster than I predicted. It’s shocking to me how fast people are moving into the system,” he said. Read more…..
Chart of the Day
Warren Buffett and Charlie Munger ease concerns over their mortality. From the 1996 Berkshire Hathaway annual meeting.