 Welcome to Digital Asset News to get top stories and crypto current digital assets and break them down into bite-sized pieces today. A lot of stuff to go over so let's break right in. So first up, three reasons why MicroStrategy adopted Bitcoin and why others will too. This is a pretty good story especially about institutions breaking in and why all the big corporations and entities are fomoing into Bitcoin also. Unstoppable Domain is giving away the domain of HODL.Crypto plus $7,000 in Ethereum and Die and I'm going to show you how to enter. There's actually a lot more to the story which goes back to the Coinbase Wallet all the way back in 2018 and how I was actually blown away by the forward thinking of Coinbase. Even though they're forward thinking they can also be a little petty and this is a story which talks about Coinbase Exit Trade Group following entry of rivalbinance.us. This is the cheesemate for the day. And lastly we'll go over a question today which is brought to us by Yong. So let's break in. So first up, take a look at what's going on with the market. So today is August 13th, it's around 3 p.m. Texas time and everything is staying pretty stable. Bitcoin almost 11.7, pretty much what it was yesterday, 1.4%. Ethereum broke through that $400 barrier and now it's busting out to $413. Where can we see it go? I don't know but there was a lot of resistance at that $400 mark and here we are so I expect to see big things but we will see. Speaking of not so big things, XRP, watch out, $0.28. Tether is gangbusters at $1.01 but tether is tether. Chain link is still up 11.4% for 24 hours and 7 day up 81%. But I believe it was up to almost $18. So here we are at $17.30 so who knows what could happen. Bitcoin cash up, Cardano up, everything's up, looks like a pretty good day. Tron, some raisin, 11% sure. And then VeChain, everything else, pretty much in the 2, oh 8% for Maker. And Compound, ouchie, down for 10% but still up 46%. So a lot of good things happening around, let's see if we can keep this momentum but let's break in a day's top story. So first up, three reasons why MicroStrategy adopted Bitcoin and why others will too. And I gotta tell you, it wasn't just about that MicroStrategy did this, how they bought thousands of Bitcoin and they're gonna owe 0.1% of all Bitcoin ever produced. But it's what the CEO said and his conviction to it. So let's jump right in what's going on here. So MicroStrategy has adopted Bitcoin as its reserve currency and stunned commentators by purchasing over 21,000 Bitcoin on August 11th. That's a pretty good amount. The world's largest publicly traded business intelligence company has swapped fiat for Bitcoin as its treasury reserve asset but the reasons behind it suggest that more big businesses will have no choice but do the same. And this is a story we covered, gosh I wanna say four or five days ago and it was just the CEO saying, hey, we got a lot of reserve currency and we're looking at alternative investments and one of those was Bitcoin, I think they talked about gold and silver and some of the things and I was like, yeah, sure, they'll get around to it. They're a big corporation, they'll never pull the trigger this fast. Here I am wrong again and they pull the trigger and bam, here we are, them buying up like crazy. So on August 11th, CEO Michael Saylor called Bitcoin digital gold and it wasn't they actually just call it digital gold. It was just the conviction behind it and it talks about here, no ifs or buts, like it could be digital gold if it does this or it might do this if it does that. He's like, no, Bitcoin is digital gold. It's harder, stronger, faster and smarter than any money that has preceded it. And I'm like, man, that's pretty good. I mean, I like this guy's style. He comes out there with guns blazing and he says what he thinks and that's what it is. Saylor also believes that Bitcoin's very structure will ensure that its value will only increase with time. He states, we expect its value to accrete or grow with advances in technology, expanding adoption and a network effect that has fueled the rise of so many category killers in the modern era. So this company purchased 21,454 Bitcoin for a price of around a paltry 250 million late last month. It may not only be some symbolic, but it also means the company controls like we talked about 0.1% of total Bitcoin supply. And that's something that the competitors moving forward will find almost impossible to replicate because, look, Bitcoin right now is like we just talked about, hovering around 117, something like that. Can you imagine what it's going to be in one year or two years time? Now, no one knows. It could be down to 3,000. But if history is any predictor, we could see some rapid growth. So for the competitors to duplicate that, very tough. For sale, there were multiple red flags that swayed him to turn to Bitcoin. And he states, among other things, the economic and public health crisis precipitated by COVID-19, unprecedented government financial stimulus measures, including quantitative easing, adopted around the world, and global political and economic uncertainty. And I gotta tell you, some people make it so confusing about why Bitcoin goes up. Well, it's because of this metric and that metric and these things. And I just look at it, I'm like, I think it's pretty simple. With all the money printing, all the quantitative easing, just like it says, just this pandemic that's going on, whether you believe it exists or not, it still plays havoc with the economy. There's a lot of uncertainty and it just makes sense that different assets, alternative assets like Bitcoin, gold, silver, would go up. And that only makes sense. Now, and I think what we've seen it is as things have turned around, like there was a talk of a Russian vaccine, I guess. You saw Price's tumble. And as the economy does better, I think it might tumble a little bit, but it will always go forward. But I think that was a driving factor and I can understand why he talks about that. But further on, he states, we believe that together, these other factors may well have a significant depreciating effect on the long-term real value of fiat currencies and many other conventional asset types, including many of the assets traditionally held as part of corporate treasury operations. And if you've listened to Mike Maloney, he's a pretty, he's a big gold bug. He also talks about Bitcoin. In one of his videos, and I'll try to link at the end, he talks about how all fiat currencies for the entire existence of man has gone to zero at some point. All of all of these fiat currencies gone to zero. So when we see something like this, we're like, maybe this is the beginning of the destruction of fiat currency. Now, I'm not a big doomsayer and things like that. I don't think it's the world reserve of currencies is going to go away. But there are instances of a faltering and I can definitely see that happening. But to finish this off, Jason Yanowitz, founder of Financial Media Network, BlackWorks Group, states Microsoft CEO said they bought Bitcoin to avoid inflation. And he further states, eventually every public company will do the same. And can you imagine that? All these different companies getting into it and going, wow, we really, really need to get in this. And for me, this is why I have invested into Bitcoin and digital assets and cryptocurrencies and all you have to do, just to keep it simple, look around who is buying this up. Look around who's foam owing it, not just foam owing, but just getting in. So if you look at institutions, I mean, look no farther than Fidelity with their two, three trillion, I think it's eight trillion assets under management, if I'm not mistaken, correct me if I'm wrong. Ameritrade, one trillion assets under management. You got Van Ecke, who are huge gold bugs. And just in January of this year, they put out this little article or this little presentation that talked about how great or Bitcoin is compared to gold and they gave it seven to eight different reasons. And that's why they're picking up Bitcoin over gold now. Also, you got the big guy's grayscale. This is just the Q1 2020 report where they say, look, we have 2.2 billion assets under management. Now, in just a very short amount of time, they're over four and a half. So they are doing amazing things, not to mention the majority of investments, or 88%, came from institutional investors dominated by hedge funds. And then you have somebody like Paul Tudor-Jones, who just recently, which they have 21 billion assets under management, just a little bit, not too much. But this Paul Tudor-Jones guy, as of May 8th, 2020, he states he's going to put 2% of total investments into Bitcoin futures. If you know who Paul Tudor-Jones is, he's like one of those legends of Wall Street that made a killing back in the heyday in 80s and 90s. And when you got somebody like that who says, you know what, Bitcoin could be the future, you got a lot of other people taking notice. And then we see what's happening here with MicroStrategy. And I was looking on MicroStrategy because I wanted to save their website. But what was interesting to me about them is that it states here, MicroStrategy is a company that provides business intelligence, mobile software, cloud-based services, found in 1989. The firm develops software to analyze internal and external data in order to make business decisions and develop mobile apps. What do you want to bet? They didn't use all the analytics that they had at their disposal and say, you know what, we crunch all this data and we're looking at Bitcoin and it's a real winner. Not only is it a real winner, we're not going to say ifs and buts about it. We're going to say it is the winner. So that is one of the reasons why I have invested into Bitcoin, digital assets and cryptocurrencies. All right, let's move on. Next up, I got an email from Unstoppable Domains because I bought a domain, I bought a couple of them. And they said, hey, we're giving away this, I'm sure you probably have got it if you have a domain. We're giving away HODL, H-O-D-L dot crypto, which would be awesome to have, I must admit. I'd love to have that. And we're also giving $7,000 in ETH and DAI. Here's the rules, download Coinbase wallet. I'm like, oh, I got a Coinbase app. But I don't, I don't have the Coinbase wallet. And I was like, first of all, not a big fan of Coinbase. Customer service is awful. Their site goes down, the exchange goes down. At the most inopportune times, when I got to tell you as a customer, I think it's just disrespectful, we'll say. I will say that I will use them if, you know, for off-ramps, because you don't remember in 2017, there are different things with exchanges going down. I think some exchanges went down yesterday. Was it Bitfinex? Correct me if I'm wrong, I thought it was Bitfinex. But anyhow, going back to this one, when I saw this, I was like, okay, well, you know, I'll play the game, see what this is all about. So I took a look at the actual website and said, is this real? I wanna make sure that it wasn't just some scam email. I went to unstoppabledomains.com, forward slash contest. And yeah, first place, hodl.crypto, you get 3,000 ETH, second place, 1,000 DAI, third place, 1,000 DAI, okay. So then, and then I'm like, well, why can't I click on this enter contest? So what you have to do is you have to download the Coinbase wallet. So let's just jump in my phone real quick. All right, so here's my lovely wife, let me swing her apple app store. I'm gonna search, search for Coinbus. And there it is, Coinbase. So of course, crypto.com comes up first. What are you gonna do? Coinbase, so that's just the cryptocurrency exchange. But then there's Coinbase Wallet and Coinbase Pro. I thought it was interesting because on the Coinbase Wallet, when I click on it, well, first of all, on the Coinbase Buy and Sell, you'll notice that underneath here, it says the developer is Coinbase Inc. Now, if you go to Coinbase Pro and you scroll down, developer is Coinbase Inc. But when you go to Coinbase Wallet and you scroll down, you're like, Toshi, what the heck is this? So I had to take a look real quick at what is Toshi and I had to do a little research, which I did check it out and we'll do that in a bit after this. But what I'm gonna do right now is I'm going to click on Get, download this guy. All right, now I'm gonna click on Open, open the sucker up, pick your username, I'll pick digital asset, News, why not? And next, Public, other wall users can search me. Sure, why not? I could do private, but I just don't wanna care. I'm not gonna keep anything in this. And protect your wallet to the passcode. Sure, why not? And of course, here we go with the backup wallet. I understand. And I'm gonna click on back it up now. Okay, that's interesting. I can back up the iCloud or back it manually. I think I'll do back up manually. I'm gonna put this in my stonebook. Okay, awesome. I got that all done. And you notice that on my browser when I went there, it was all grayed out for the enter contest. So what you gotta do is click that middle tab right there. Looks like four squares. And then you can start to browse the internet in a DAP, I guess. And then, so what you're gonna do is you're gonna go to unstoppabledomains.com forward slash contest and click on return. And now, underneath there, that enter contest is actually highlighted so you can click on that. So let's do that. Signature request, signatures can be used to improve your own, you own this wallet to allow asset transfers, yes. Or for other purposes, only sign matters from DAP, trust. That's me, sign. We use our passcode and boom, entry has been submitted. So just like that, very interesting how they're doing that. They're integrating everything. So again, not a big fan of Coinbase and all those things, but it is what it is. So if you wanna win those, I mean, that's the way. And I will say this, as I was talking about in the beginning, there was this article, because I was doing a lot of research about it, because I was like, well, first of all, what is Toshi as opposed to the Coinbase Inc. As far as the developers, I was like, maybe this is the way that I'm getting scammed. So what I looked at was the Coinbase blog. And I go all the way back to August 15th, 2018. Quite a while ago and talks about, and this is right from the blog.coinbase.com. It says, goodbye Toshi, hello Coinbase wallet. Easy, most secure crypto. I had no idea this was even out. I only use Coinbase and Coinbase Pro. I have no need for the wallet. I do not use it whatsoever. But I thought this was interesting. And they said, today we're proud to announce that Toshi is becoming Coinbase Wallet. This is not just a new name, but part of a larger effort to invest in products that will define the future of the centralized web and make the future accessible to anyone. So right there, I'm like, that's pretty forward thinking. This is two years ago. And here they are going, oh, this is what's gonna happen. At Coinbase, we believe the applications of the future were built on decentralized internet. Everyone will own a crypto wallet that allows them to access decentralized apps or dApps. And that the wallet will be their gateway to the open financial system. Toshi was developed by the Coinbase team over a year ago. So in 2017, they actually developed this. When the product launched, it featured the world's first mobile DAP browser. And that's what you need to actually use the dot crypto domains. There's different ones like, I think Opera has the ability that, I think Firefox just has it as well, but I know Chrome and Brave don't have it right now. So you can't really browse in the way it should be done. But I guess with this, they found this all the way back then. So later it became the first wallet to launch crypto collectibles, goals to make managing crypto accessible to the decentralized web. With Coinbase wallet, your private keys are secured using your device's secure enclave and biometric authentication tech. What can you do? You can manage to manage ETH and all your ERC-20 tokens, receive airdrops and ICO tokens. That's pretty cool. Buying store crypto collectibles like NFTs. You can send payments, access letting decentralized exchanges, decentralized exchanges. Maybe that's why they're into Xerox or Ox, whatever you want to say it. And explore the full universe of third party dApps that'll enable everything from taking out a loan or lending to others on the blockchain and they just actually started that up. You can take out a loan, 30% of what you have in Bitcoin in certain US States. So interesting how everything kind of comes together. So yeah, I gotta tell you, very forward thinking. However, sometimes you get a little petty. And that's what the next article talks about. So Coinbase exit the trade group following entry of upstart rival Binance. This is just the gossip, the cheese may, right? So exchange operator Coinbase has resigned from cryptocurrency and blockchain advocacy group, the blockchain association following the admittance of Binance. And at first I was like, is that true? Or is that just some, you know, keeping up with the Kardashian stuff? Anyhow, Coinbase said it was resigning from the group effective immediately. And they state it is with considerable disappointment that I am tendering my resignation from the board of blockchain association effective immediately wrote Coinbase's Hermine Wong. My resignation also serves as notice of Coinbase's withdrawal from the blockchain association, including all working groups and any ongoing initiatives. And this is where it gets good. They wanted to say that the decision was made based on actions by the association in recent weeks. Although the letter does not call out Binance by name, insiders suspect the resignation was tied to the admittance of the exchange, which was announced Monday. And he states, and while we hope the blockchain association remains committed to those values, unfortunately recent weeks have demonstrated to us that the blockchain association is not interested in the membership criteria we had worked to establish to underpin the mission of the organization. So again, the membership criteria, which is, they're just ticked off that Binance is in there. And then further on it also reiterates however we believe it's important to abide by our established neutral membership criteria and honor majority board opinion. So let me know what you think in the comment section. Should they have done that? Should they just have stuck it out, put out the hand, bury the hatchet and just said, let's make this work, but sometimes it doesn't work like that. And yeah, let's move on. And last up, this was a good question from Yong and it all goes about exit strategy. So let's jump in the office real quick and I'll answer that. All right, everybody, welcome back to the office. So for the question today, it was a pretty good one. This one comes to me from Yong. And Yong says, hey Rob, I was wondering if you might consider doing a video on how you might demonstrate an exit strategy. I was looking around at your exit strategy spreadsheet and it gives a good guideline to how one might determine at what price point to do some profit taking. Now, if you're not aware in the description of my videos, there is an exit strategy spreadsheet. And what I do is I go over different exit strategies for Bitcoin, Ethereum and XRP. So check that out. But really Yong is right here because she says this is really good to determine as far as like all time highs for what we do historically. But this year, there are things just going way above all time highs. So, you know, how do we do this? And anyhow, she goes, I realized that the exit price point is personal but it'd be great if you can share some of your wisdom on how one might derive at this and maybe we start a good discussion from others to chime in the comments for people to get some ideas. Chico Crypto did an exit strategy video about a week ago and he provided some good points one being moving some of his profits to USDC and die. Although he's more inclined to go with USDC, I am too, especially because of the interest rates you can get. He does point out some issues with USDC. So if you could do that, that'd be great. So here's the thing. Specifically, if we take a look at Chainlink. Chainlink doing pretty damn good, right? So right now, we are way above its all time high. I remember when I was doing a video just a couple of weeks ago and I said, hey look, if Chainlink goes above $9, I know that it's never hit that point and it's gonna be way above its all time high. Now today, I think we're almost, we're knocking on the $18 range. So who knows? So in these situations, we can't look at historical data to take a look at what's going to happen. So for this one, what I would say like this is yesterday we did a video and we talked about, it was from the MyCrypto Wallet co-founder and she had talked about what you should do is not chase all these different crazy coins, just go with what you have and along the way make sure that you take profits because you never know what could happen, which is a really good point. I mean, right now, look, Chainlink can go up to, I don't know, I have no idea honestly because like even the comment section, someone said, hey, Rob, what's your prediction? And I was like, I don't know, $20 end of year and that could be $20 end of year, it could be $20 end of day to day, we have no idea. So the big thing is from yesterday, if she's talking about taking profits and I told you it was stage advice, I should really be doing that. So what I'm going to do is this, I think right now, just to make sure that I stay ahead of the curve, once it hits below 19, I'm pretty sure it's gonna go above 18, I'm not gonna wait for it to hit 19 because everybody waits for round numbers and I talked about this in my exit strategy. They're everybody's waiting for $19, $20, $25, whatever it is to start the cash out. The same thing with Bitcoin. Once you saw 10,000 hit, you saw a lot of sell orders that were put in that were already there and people just started to take profit. So this was a strategy I learned from Mr. B and he had talked about, use some very irregular numbers. So like instead of waiting for $19, I'm gonna go for like $18 and 73 cents or something like that. Or before I hit 20, I'm gonna go for $19 and 52 cents or whatever it is, but something kind of like irregular. So I think for the chain link, again, I don't know where I can go, but to take a little bit of profits for right now, I'm gonna start off with 10% just to see how it goes. That's a very conservative number. I think I should be okay. And somebody had made a mention of why cash out into dollars because the dollar bill is just gonna get weaker. It's already weakened globally. I don't think it's gonna ever stop being the reserve currency for quite some time, but I thought, okay, that's a pretty good idea. So why cash out into dollars right now? Why not just cash out into USDC and use Voyager or Celsius and get interest? The APR is between like six and 8% some around there. Now I don't think if you're an American citizen, you live in America, I don't think you can deposit USDC to Celsius. Check me if I'm wrong, but I think that's right, but I know you can do it with Voyager. So with Voyager, I will probably cash out and put my USDC on Voyager and let it sit there and then go from there. Now again, don't leave too much on these hot wallets because you never know what could happen, put things in your nano and then go from there. So I think to start off with 10% and then we'll see where everything goes. So Yong, I will update with a more engrossing exit strategy as time comes on, but that's what I have for today. All right, let's jump back. All right, that's it. So I wanna say thanks for sticking with me through everything, I really appreciate it. I also wanna do quick random shout outs. If you don't know, there's a Join Now tab underneath. If you join, you don't get anything special. It's just like a tip, it's like a buck 99. And so what I do is I just give random shout outs to all the new ones and all the existing ones. So Carlos Gomez, Nostromo, which I think is droplet, not for sure. Also we got Eli Karchoff, who else we got? Eric Maiteko, that's a good one. Sean Thompson, Jimmy G, thank you so much, Jimmy. Albert Allery and Duckburg, great. All right, so that's it for today. Thanks a lot. If you like these types of videos, it'll be two that's gonna pop up to your left and right. I have no idea what they are. YouTube is the control of that, just like the advertisements you have seen in the beginning, middle, and probably end of this video. So if you have a problem with those videos or those ads, if they're scams, don't blame the messenger. Go talk to YouTube. And that's it. So thanks a lot. See you on the next one.