What Bitcoin contagion might look like
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The markets, year-to-date
S&P 500: 6,025.99 ⬆️ 2.45%
FTSE 100: 8,700.53 ⬆️ 5.33%
Bitcoin: $95,898.71 ⬆️ 2.61%
GBP to USD: $1.2408 ⬇️ 0.88%
GBP to EUR: €1.2014 ⬆️ 2.53%
(As of Friday market close.)
The contagion whale
Last week’s post, “Bitcoin’s inevitable collapse”, which described the potential bubble forming in crypto, was one of the most-read articles we have ever published on Moneyin2. (If you are a new subscriber because of it, welcome!) Although Moneyin2 is not a crypto newsletter the topic is hot right now — and poorly understood by most people. So this week we’re going to look again at how Bitcoin has infiltrated traditional finance and why that should worry savers and investors — like us! — who simply want to reach financial security and independence.
Around the world, 78 companies with publicly traded stock now have Bitcoin on their balance sheets, a…