The Brief for July 6, 2020

Despite June’s burst of interest in DeFi and the continual flow of bitcoins into the hands of long-term investors and committed HODLers, lots of people are still looking for bitcoin to crash.

For my take, watch this video:

I’ll have a more detailed video for premium subscribers within the next few days.

Bakkt to the Future

Does anybody remember Bakkt?

Once billed as the key to mainstream adoption, the project took a backseat to investment funds and startup ventures. Much like Facebook’s Libra, it didn’t go away, the media just stopped talking about it.

Check out its plans for its app:

Look like a combination of crypto wallet, exchange, and payment app along with a way to convert credit card rewards, loyalty points, gaming items, other digital assets into cryptocurrency.

This will make it incredibly easy for people to “throw a few bucks” into bitcoin. Perhaps they’ll add a DeFi element? That would be slick.

I signed up for early access to the app, will let you know how it goes. The merchant products will mean as much, possibly more, to the platform, but it looks like the consumer side is Bakkt’s focus right now.

Hope you’re all doing ok. Relax and enjoy the ride!