Coinbase will Moon after Q1 Earnings. (chart included)

https://i.redd.it/32tct52sgpxc1.jpeg

Reminder for holders of QBTC, QBTC.U - redeem for cash before May 15, 2024 and switch to an ETF

I have a friend who bought the BTC fund (QBTC, QBTC.U) before there was an ETF and still hasn't gotten around to making the switch to an ETF, so I did some research for them I thought I could share with you all. QBTC is not an ETF and has a high management fee which is no longer justifiable because there are ETFs available, however, if you simply sell the shares and make the change today you will lose about 2% because it trades at a discount.

You have two options if you don't want to lose the discount:

1. Annual redemption is June 17th, for 100% cash value of the underlying NAV, but you must make the request through your broker and that must be processed in time for the May 15th cutoff date. (Check with your broker that they can do redemptions. I can confirm Questrade does redemptions.)
2. You can wait for the discount to shrink and trade them at that time, looking at prior years, people try to arbitrage the discount by buying the shares just before redemption and then doing a redemption, oftentimes resulting in the discount being completely eliminated. Do note, the discount will shoot back up after May 15th once the arbitrage opportunity closes.

If you are going with the second option, you need to look up the BTC per share ratio and do the math yourself to determine the discount. They do have data on their main page you can also look at that shows the NAV and market price at 4:00pm (market close) on trading days, but I don't know how that varies intra-day.

Please note, this a taxable event if you hold it in a taxable account, even if doing the redemption route.

Bitcoin Halving Year and Pulsara Airdrops

I just had a thought looking at the descending price of CORE. I realized after studying the tokenomics of Bitcoin’s deflationary system by halving the rewards for miners every four years that people are probably selling out and buying bitcoin as a short term speculation trade.

So I can’t help but wonder if it’s no coincidence that the pulsara airdrops are happening this year at the same time, because the key requirement for continuing to receive the airdrops this year comes down to actually holding above 90% of your initial holdings. So basically people have to either choose SARA/CORE for the long term or Bitcoin for the short term. Plus anyone selling out means we get a higher percentage of the airdrops.

And if that is by design and not just happenstance, I’m actually feeling excited about the developments in store for 2024 and 2025. As Bitcoin goes up in price and alt season comes around for the bull run, I think integration with exchanges like crypto.com and wallet apps are going to come pouring in. After all the main driver for upward price action is adoption, and who doesn’t want to transact for minuscule gas fees compared to ethereum? Solana is great and viable the larger your transactions are, but with CORE at least people will be able to transact in smaller more frequent volumes which will grease the wheels for crypto trading, especially for arbitrage traders!

Let me know your thoughts. I’m on the lookout for adoption events this year and next.

Purchasing with Bitcoin

If I want to use Lightning or any other method to pay for something with BTC, I'm creating a taxable event every time. If that's the case, where does the medium of exchange come in?

I want us to be there, but until it's the global standard, I don't want to pay an extra XX% to buy toilet paper.

How to navigate this besides using 0% Bitcoin backed loans like Sovryn?