- Money Badger
- Posts
- 🎩 Does a sovereign wealth fund own Bitcoin?
🎩 Does a sovereign wealth fund own Bitcoin?
PLUS: Elizabeth Warren FUDs mining
Money Badger
April 18, 2023
estimated read time: 3 minutes 30 seconds
🐦 Twitter | 📰 Past Editions
Hello and welcome back to another fun day in Bitcoin. Today is one of those days where I feel like I don’t own enough sats. You ever get that feeling?
In today's news:
😍 Bhutan secretly owns Bitcoin
⚡ Microstrategy integrates Lightning and email
🙄 Elizabeth Warren fuds mining
BHUTAN SECRETLY INVESTED IN BITCOIN
Is Bhutan the first ever sovereign wealth fund to invest in Bitcoin?
Yes…we think so!
The Himalayan country best known for it’s monasteries and dramatic landscapes appears to have been secretly holding Bitcoin.
Bhutan’s Sovereign Wealth Fund currently has over $2.9 Billion of Assets under management.
Information released from the recent Blockfi and Celsius bankruptcies has revealed that an international investment arm of the Wealth Fund had invested millions in $BTC and other cryptocurrencies.
The investment arm, Druk Holdings, appears to have secretly grown a crypto portfolio without public knowledge, according to a Forbes article.
User Deposit and Withdrawal - 90 Day - Source: Celsius SoFA
Shout out to those who were able to Chapter 7 liquidate themselves at 100 cents on the dollar 🙏🙏
— Celsius Loans (@CelsiusLoans)
6:42 PM • Feb 20, 2023
Blockfi lawyers filed a complaint against Druk holdings for an unpaid loan of $30M.
Blockfi claimed that Druk had refused to repay the loan even after they sold 1,888 $BTC for $76.5M.
That’s a lot of corn…
Druk’s CEO has said that “the matter with Blockfi has been settled”.
MICROSTRATEGY INTEGRATES LIGHTNING WITH WORK EMAIL ADDRESSES
LN-URLS already look like email addresses, but could they be them as well?
Michael Saylor thinks so…
Microstrategy just integrated his work email address with lightning network so that people can send him sats.
His address is [email protected] if your feeling generous.
So @MicroStrategy converted my corporate email address into a #Lightning⚡️ address and people keep sending me 21 sats...🧡
— Michael Saylor⚡️ (@saylor)
7:37 PM • Apr 17, 2023
The integration was enabled by the lightning address protocol, allowing users to link an internet identifier such as an email address rather than a typical wallet or QR code.
Did Michael integrate this for all of the companies email addresses?
who knows, but it will probably happen eventually.
ELIZABETH WARREN FUDS MINING…AGAIN
The Pocahontas of Washington is back.
This time she wants to warn YOU of the dangers of bitcoin mining…
Ouuuuu Shiver me timbers.
The senator released a tweet linking to the NY Times article about the costs of bitcoin mining.
Bitcoin mines are increasing energy bills for millions of American families while enriching crypto executives — and causing as much pollution as an additional 3.5 million gas-powered cars. An alarming @nytimes report.
— Elizabeth Warren (@SenWarren)
10:24 PM • Apr 17, 2023
I’ve been ringing the alarm about the risks that Bitcoin poses to our power grids and climate. @EPA and @ENERGY should use their authority to require cryptominers to disclose their energy use and emissions.
— Elizabeth Warren (@SenWarren)
10:24 PM • Apr 17, 2023
Elizabeth claims bitcoin mining is increasing energy bills for american families whilst enriching the Crypto executives.
In the second tweet the senator says that bitcoin poses a risk to the power grid and climate change.
Is any of this actually true? In classic politician fashion…NO.
Let’s break it down:
Bitcoin mining increases energy bills for american families.
What’s the more likely cause of electricity prices rising recently?
a) Russia sanctions, Ukraine closure, declining purchasing of “dirty” energy, Saudi Arabia Oil choices, Joe Biden exhausting domestic oil reserves, highest levels on money printing on record worldwide.
or
b) Bitcoin mining.
Whilst it is nearly impossible to attribute power prices rises to any single factor.
Mining is definitely not one of them as we’ll explain why in the second point
Bitcoin mining poses a risk to the power grid.
Miners have the ability to reduce their consumption at the flick of a switch.
This ensures the grid can stay operational and keep energy prices lower.
Bitcoin Mining was recently credited with saving Texas power grid during the cold weather crises by helping balance the grid.
Bitcoin mining poses a risk to climate change.
Bitcoin mining uses the highest quantity of green energy in any industry on earth.
Miners consume excess energy produced by solar and wind generation that would otherwise go to waste.
According to a report in Q4 2022, renewable energy sources accounted for 58.9% of the electricity used to mine bitcoin.
MONEY MEMES
HOT JOB
If any of you shadowy super coders out there want to join an awesome bitcoin company with a great reputation. This is the one!
QUOTE OF THE DAY
Enjoy the Badger? Share it with a friend! 🧡
copy and paste this link to others https://moneybadger.beehiiv.com/subscribe
If this email forwarded to you, Sign up here
Want to support the Money Badger?
buy us a coffee ☕
