Dear readers, the momentum continues!
Bitcoin was above the $8,000 mark today per coinmarketcap.com (up more than 40% from its low in June).
To continue to professional allocator discourse from last week here at Crypto Mouse, Marc Lasry, the billionaire hedge fund founder of Avenue Capital, has said he believes Bitcoin can easily reach $40,000 and has personally invested 1% of his net worth in the cryptocurrency.
What else could be fueling the rise? Last month, the CBOE filed its request to launch a crpyto ETF in partnership with Van Eyk Investment and SolidX. Its approval in this calendar year of 2018 is unlikely, but the rumor is the SEC has been receiving quite the influx of positive comments since it invited public comments a few weeks back. You can actually read all of the comments made here.
In addition, Coinbase announced a custody solution on its blog, with a minimum balance of $10 million, a setup fee of $100,000, as well as 10 basis points fee charged monthly, paving the way for institutional money to come in for Inning Three.
Don’t fret, accredited U.S. investors, Coinbase also has a solution for you via its Coinbase Index Fund, for those wishing to invest $250,000 to $20,000,000 in a fund with exposure to all assets listed on the Coinbase platform.
Feeling a little too poor for the Coinbase index fund? Not to worry, dear readers, Team Crypto Mouse is here for you. Check out Shrimpy, a free portfolio management tool with no minimum investment, no hidden fees and no trade limits. “But how does it work?”, you ask. Simple! Deposit your cryptocurrencies to an exchange, allocate a diverse portfolio instantly, and rebalance whenever you feel like it, whether every half hour (don’t be this guy though), or half past never. Check out their demo.