Today’s Animal Spirits is brought to you by BlockFi
On today’s show we discuss:
- The CFA is a colossal waste of time
- Coinbase is buying a lot of Bitcoin
- Visa bought a crypto punk
- My take on NFT mania
- Ben’s Mona Lisa take
- People are working multiple jobs
- Jobless benefits and people going back to work
- 74% of homeowners haven’t refinanced (survey)
- Why I’m going to a 30-year mortgage
- Why is Spotify buying back stock?
Listen here:
Recommendations
Tweets:
crypto wallets will change how brands think about targeting customers online:
1) fully public purchase history
2) users willingness to spend money online
3) connect physical and digital purchases seamlesslythis method makes cookie targeting seem ancient.
— 𝐉𝐃 (@jarroddicker) August 20, 2021
Building out a crypto wallet is a key priority for Robinhood.
"I know there's been a ton of enthusiasm from the crypto community and the Dogecoin community in particular on getting access to wallets" pic.twitter.com/LuqeInKxSH
— Frank Chaparro (@fintechfrank) August 19, 2021
0/ $HOOD first Q as a public company & crypto is becoming much more important:
-60% of funded accts traded crypto in the Q & a larger % of clients made 1st trade in crypto vs equities
– Now 51.7% of tx revenue (16.9% last Q & 2.7% 2Q20)
-$23B AuC (up from $12B in 1Q & $1B 2Q2) pic.twitter.com/xWCluC16ss— John Street Capital (@JohnStCapital) August 18, 2021
I’d encourage everyone to log into this virtual art gallery on their desktophttps://t.co/jDYBYDT5EM
Check out a few of your favorites and dive into the backstory (eg generative art!)
Many scoff at NFT art, but it’s internet culture moving at warp speed.
H/t @blakeir
— Patrick OShaughnessy (@patrick_oshag) August 22, 2021
Two great charts from @TimmerFidelity
Bitcoin tourists got crushed during the correction. HODLers did what they do. pic.twitter.com/ApYpn6qAzV
— Michael Batnick (@michaelbatnick) August 22, 2021
In a continuation of the excess of everything per BAML:
-We've seen $32T of fiscal & monetary stimulus since COVID started
-The Fed has bought $4T bonds in the past 18 mo's
-Global CB's have spent $834M / hour buying bonds since COVID
-US gov't is spending $875M / hour in '21 pic.twitter.com/cl4ye7IYT1— John Street Capital (@JohnStCapital) August 20, 2021
Almost 100% of retailers are seeing vendors raise prices across kitchen & bath products. Cabinets, vanities, and countertops feeling it the most per our August survey. pic.twitter.com/oRAuPARd3x
— Rick Palacios Jr. (@RickPalaciosJr) August 17, 2021
There are only 25 EtherTopazRock. I own one of them.
Tres comas, here I come. pic.twitter.com/6ekLwiHP2U
— Michael Batnick (@michaelbatnick) August 23, 2021
MSTR: in Q3 "purchased approximately 3,907 bitcoins for approximately $177.0 million in cash, at an average price of approximately $45,294 per bitcoin,"
— zerohedge (@zerohedge) August 24, 2021
Absurd stat of the day
59% of Gen Z investors have traded while inebriated, according to a survey from consumer finance site MagnifyMoney. pic.twitter.com/HizYOeXUxN
— Morning Brew ☕️ (@MorningBrew) August 17, 2021
Charts:
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