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Bitcoin in recession global market crisis stock red price drop arrow down chart fall, Money losing moving economic inflation deflation investment loss crash, 3d rendering

Donald Trump's plan to make Bitcoin a strategic reserve asset (SRA) if re-elected focuses on positioning the United States as a leader in the cryptocurrency space. Trump announced this plan during his speech at the 2024 Bitcoin Conference, emphasizing his intention to maintain all Bitcoin currently held by the U.S. government as an (SRA). This would serve as the foundation of a national Bitcoin stockpile aimed at bolstering the legitimacy and value of Bitcoin globally.Key components of Trump's plan include:Retaining Government Bitcoin Holdings: Trump proposed that the U.S. retain 100% of its Bitcoin holdings, positioning it as a strategic reserve asset. Crypto-Friendly Policies: He pledged to end what he described as the current administration’s "anti-crypto" stance, specifically targeting regulations he sees as restrictive. Appointing a Pro-Crypto SEC Chair: Trump plans to replace the current SEC Chair with someone more supportive of cryptocurrency and blockchain innovation. Establishing a Presidential Crypto Advisor: This role would oversee the integration and promotion of cryptocurrencies within the U.S. financial system. 'Encouraging Bitcoin Mining: Trump aims to make the U.S. a dominant player in Bitcoin mining, preventing other nations, particularly China, from taking the lead in this sector'​ (Crypto Briefing)​​ (BlockNews.com - CRYPTO NFT NEWS)​. Trump’s pro-crypto stance marks a significant shift from his previous skepticism about digital currencies. His proposed policies aim to boost investor confidence in Bitcoin and integrate it more deeply into the U.S. economy, potentially driving its adoption and value upward.

Strategic Reserve Asset - Bitcoin (Trumps plan)

Day 2 started out with larger crowds. The Festival Pass goers were allowed in the doors and the lines for them to enter the Nakamoto main stage where Trump, Kennedy and Michael Saylor are speaking were quite long. Wrapping around the building into the exhibit hall there were literally thousands waiting to get in. This was likely due to only a few metal detectors manned by a mix of Secret Service and general security personnel.Located in the Exhibit hall was the Genesis Stage where I sat in on my days first session. 0900 - Founders on a Lightning Standard - Marketing 3 guests prodded by a moderator discussed a variety of topics that centered toward on-ramps for Bitcoin. Desiree Dickson from a gaming company spoke about embedding it in their gaming platform and the challenges to adoption they face with users using it for payment. Roy Sheinfeld, a developer, spoke about the Samurai mixer service trial in the United States and espoused the injustices of it. Evan Kaloudis chimed in to discuss some of the problems with the tax system in the United States tucking Crypto under capital gains making adoption even more challenging.<figure id="figure-c48yuuoqoolz30zurb"><img id="c48yuuoqoolz30zurb" src="https://cdn.durable.co/blocks/2aKZN3aE78mDpMVSAxF23KDbKBh6Kged1wQhMWePBr6bEwSvMnjHcWKMfF8VvAnw.jpg" alt="Businessmen investor think before buying stock market investment using smartphone to analyze trading data. investor analysis with stock exchange graph on screen. Financial stock market." title="Businessmen investor think before buying stock market investment using smartphone to analyze trading data. investor analysis with stock exchange graph on screen. Financial stock market." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/2aKZN3aE78mDpMVSAxF23KDbKBh6Kged1wQhMWePBr6bEwSvMnjHcWKMfF8VvAnw.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>--10am - Mining and Power GridThe Crypto Mining stage located in the Exhibit hall had a session titled Bitcoin Mining and the Grid. Knowing nothing about power companies or Crypto mining operations I sat in on the discussion with Austin Mitchel (Synota), Kent Draper (Tren), Kerri Langlais (Terawulf) and Mario Gutierrez (Giga Energy). The discussion brought up several interesting points I’d never considered about the positive and negative affects of bitcoin mining on power generation…..Crypto mining power loads are treated differently than others by regulatory agencies. It was inferred they would be charged more than a company who might be performing technically similar functions with similar equipment such as a company doing AI.British Columbia put in a moratorium on crypto connections to their grid because of reported power constraints it caused.Bitcoin mining can foster the intersection of big tech with big energy and is doing so in Pennsylvania at Nautili’s crypto mine that is connected to a Nuclear power plant and employs 1600 employees operating the plant each day.The panels consensus was the grid of tomorrow provides a generational opportunity for abundant energy through decentralization of power production.<figure id="figure-pwh2am0fuelz3cq26q" class=""><img id="pwh2am0fuelz3cq26q" src="https://cdn.durable.co/blocks/39jkUCN4ApRscQ38MozZJySp3UuK0bCgN0gJsR2aEQ2kFvouNaohm50gsOoTMXw0.jpg" alt="Young woman working at night modern office loft.Red and green candlestick chart and stock trading on background. Double exposure." title="Young woman working at night modern office loft.Red and green candlestick chart and stock trading on background. Double exposure." class="object-cover bg-gray-100" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/39jkUCN4ApRscQ38MozZJySp3UuK0bCgN0gJsR2aEQ2kFvouNaohm50gsOoTMXw0.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><figure id="figure-ppmtrjbbdglz3ctj35"><img id="ppmtrjbbdglz3ctj35" src="https://cdn.durable.co/blocks/25r8P9EgYeVnE7YskdNnA8kfMzwMHqxmrVvFv4h9u3jcwmCX5h19q2ngf5smIkZf.jpg" alt="Woman is checking Bitcoin price chart on digital exchange on smartphone, cryptocurrency future price action prediction." title="Woman is checking Bitcoin price chart on digital exchange on smartphone, cryptocurrency future price action prediction." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/25r8P9EgYeVnE7YskdNnA8kfMzwMHqxmrVvFv4h9u3jcwmCX5h19q2ngf5smIkZf.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>--1030 - Enterprise Stage - AccountingAt 1030 the Enterprise stage hosted the Demystifying the World of Bitcoin by Markus Veith (Grant Thornton), Rob Logan (Gemini), Ed Reginelli (BitGo), Brian Carson (CleanSpark) and Aaron Jacob (TaxBit). This stage was located in the VIP section restricted to Industry and Whale pass holders. It’s because of this I suspect the crowds were much smaller. Some helpful points that came out of the discussion included….Prior guidance by FASB didn’t reflect the true value of Bitcoin but Fair value regulation fixed this by simplifying the accounting, according to Brian Carson.SAB121 legislation has an impact on custodians and was considered bad by the group because it requires any company touching customers funds to provide disclosure and reporting. It was further mentioned that the SEC came out with these rules after soliciting no feedback which is unusual. As a result this has seemingly unified much of the US Congress.<figure id="figure-xnkfu83ppmlz428xtz"><img id="xnkfu83ppmlz428xtz" src="https://cdn.durable.co/blocks/161Cx4m1FKMO63BfERYvKW5dqt8bEIOmAHrxlY0c9bMxSpBjlqtb9ykMag7cL7VK.jpg" alt="Woman is checking Bitcoin price chart on digital exchange on smartphone, cryptocurrency future price action prediction." title="Woman is checking Bitcoin price chart on digital exchange on smartphone, cryptocurrency future price action prediction." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/161Cx4m1FKMO63BfERYvKW5dqt8bEIOmAHrxlY0c9bMxSpBjlqtb9ykMag7cL7VK.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>

Day 2 - BTC Nashville 24 - Marketing, Mining, Accounting

Shirish Jajodia of MicroStrategy kicked off the 12pm Enterprise Stage session by discussing Microstrategies Corporate Adoption of Bitcoin. Slides accompanied his deep dive into Microstrategies rationale for Bitcoin as part of its strategy and made a case for lower growth companies benefiting from Bitcoin.<figure id="figure-u8bq8akfxklz5lpw4q" class=""><img id="u8bq8akfxklz5lpw4q" src="https://cdn.durable.co/blocks/d79sI1ftzuI66YWWMPIr9pLiA0dySO1zy1VSMc4mjwVckavwAXJf1won3U6Knkj8.jpg" alt="Asian Business person use mobile smartphone app analyzing business data and prediction economic growth coronavirus crisis, Covid-19" title="Asian Business person use mobile smartphone app analyzing business data and prediction economic growth coronavirus crisis, Covid-19" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/d79sI1ftzuI66YWWMPIr9pLiA0dySO1zy1VSMc4mjwVckavwAXJf1won3U6Knkj8.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Microstrategy is Michael Saylors company and this was a precursor to his keynote speech on the Satoshi stage at 2pm.<figure id="figure-b6ay3vffylz5md6b2"><img id="b6ay3vffylz5md6b2" src="https://cdn.durable.co/blocks/28Khh65w6w9YcQnSQABeUMIP3MMc7LJenY78pNYuuvM9uJuglpS0i3VsUMBgKxgY.jpg" alt="Businessman talking about investment stock market and graph from computer laptop with broker trader, giving money plan management and analysis" title="Businessman talking about investment stock market and graph from computer laptop with broker trader, giving money plan management and analysis" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/28Khh65w6w9YcQnSQABeUMIP3MMc7LJenY78pNYuuvM9uJuglpS0i3VsUMBgKxgY.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Microstrategy was first to adopt BTC invest its cash reserves into BTC as a primary treasure reserve asset.They currently hold over 226K bitcoin and bought them at an average price of $36,798.<figure id="figure-6p0j3ttw2lz5mgtkl"><img id="6p0j3ttw2lz5mgtkl" src="https://cdn.durable.co/blocks/9FD2JCTsge1QN3YDSAky0GXwbvZkPWRi2WAukYDs7WCVCPoCER2q4DkKH0zxMdsz.jpg" alt="Future Financial and investment theme growth your wealth in 2024" title="Future Financial and investment theme growth your wealth in 2024" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/9FD2JCTsge1QN3YDSAky0GXwbvZkPWRi2WAukYDs7WCVCPoCER2q4DkKH0zxMdsz.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>BTC investments have raised Microstrategies corporate value by 182% in just under 4 years.<figure id="figure-doupkwqwoyllz5mpmqk"><img id="doupkwqwoyllz5mpmqk" src="https://cdn.durable.co/blocks/15OFyXgK9P9s9QCtGeuVjcN2HqBNJkCXWZu4yXQiEffuMzdfMcB2g6LroQEGIuhR.jpg" alt="Woman is checking Bitcoin price chart on digital exchange on smartphone, cryptocurrency future price action prediction." title="Woman is checking Bitcoin price chart on digital exchange on smartphone, cryptocurrency future price action prediction." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/15OFyXgK9P9s9QCtGeuVjcN2HqBNJkCXWZu4yXQiEffuMzdfMcB2g6LroQEGIuhR.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Microstrategy has outperformed NVIDIA since its adoption of Bitcoin<figure id="figure-skmq5d3k5lz5msmke"><img id="skmq5d3k5lz5msmke" src="https://cdn.durable.co/blocks/4TEuIFqwQhQYEaKLB9h1paVZj7QSoStOGSK0MZ9Wwjfx4ot5H30BxpUG8uXJqkt9.jpg" alt="Bitcoin E-commerce concept on digital Screen" title="Bitcoin E-commerce concept on digital Screen" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: undefined undefined;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/4TEuIFqwQhQYEaKLB9h1paVZj7QSoStOGSK0MZ9Wwjfx4ot5H30BxpUG8uXJqkt9.jpg" data-mce-style="aspect-ratio: 16/9; object-position: undefined undefined;"></figure>The USA has over 200K BTC held by the DOJ making it the largest holder of BTC among countries.<figure id="figure-a1t0eybl35lz5luy3l" class=""><img id="a1t0eybl35lz5luy3l" src="https://cdn.durable.co/blocks/2cMHYbaiDVQxOeLWh6YxR0TsPiB5V5sfj3HqieSYPfeBMDIT12zGWIslf5I7u0iI.jpg" alt="Finance business investment data analytics strategy report, crypto currency blockchain stock exchange graph chart and business man in suit typing on keyboard computer, financial and technology." title="Finance business investment data analytics strategy report, crypto currency blockchain stock exchange graph chart and business man in suit typing on keyboard computer, financial and technology." class="object-cover bg-gray-100" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/2cMHYbaiDVQxOeLWh6YxR0TsPiB5V5sfj3HqieSYPfeBMDIT12zGWIslf5I7u0iI.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><figure id="figure-nggctcrq4tlz5lvd9n" class=""><img id="nggctcrq4tlz5lvd9n" src="https://cdn.durable.co/blocks/11sLEaiI15m4sBPG1pGmkBlVHj3llXUsTRkqD3KNmtuVPJKY6y6amNaXT0tm2DeJ.jpg" alt="Businessmen investor think before buying stock market investment using smartphone to analyze trading data. investor analysis with stock exchange graph on screen. Financial stock market." title="Businessmen investor think before buying stock market investment using smartphone to analyze trading data. investor analysis with stock exchange graph on screen. Financial stock market." class="object-cover bg-gray-100" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/11sLEaiI15m4sBPG1pGmkBlVHj3llXUsTRkqD3KNmtuVPJKY6y6amNaXT0tm2DeJ.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>If companies in the US allocated just 5% of their treasuries to BTC it would result in a monetary investment of $150B.<figure id="figure-bf3wlzvxxlz5lw87m"><img id="bf3wlzvxxlz5lw87m" src="https://cdn.durable.co/blocks/bfrmBxrJA3lwElvxKWjRASfOODRBvHx7AJl6QLmltDQIcR7dwR51Phrp9qJINInC.jpg" alt="technical financial graph on technology abstract background" title="technical financial graph on technology abstract background" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: undefined undefined;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/bfrmBxrJA3lwElvxKWjRASfOODRBvHx7AJl6QLmltDQIcR7dwR51Phrp9qJINInC.jpg" data-mce-style="aspect-ratio: 16/9; object-position: undefined undefined;"></figure>This chart shows US companies listed on an exchange with low growth that could benefit from a BTC strategy.<figure id="figure-a3m3yzhaqlz5n1icd"><img id="a3m3yzhaqlz5n1icd" src="https://cdn.durable.co/blocks/21NT43gB3WKp8zUOFrJhoau7pGg1NZnWJUk1aTLOjlrvAFw2FYMbuRJCYiymJzIT.jpg" alt="Decentralized cryptocurrency Bitcoin growing up financial banking and crypto currency market exchange 3D background" title="Decentralized cryptocurrency Bitcoin growing up financial banking and crypto currency market exchange 3D background" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/21NT43gB3WKp8zUOFrJhoau7pGg1NZnWJUk1aTLOjlrvAFw2FYMbuRJCYiymJzIT.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>This chart shows high growth companies that could benefit from a BTC strategy.<figure id="figure-p1p3qcztzlz5m1oed"><img id="p1p3qcztzlz5m1oed" src="https://cdn.durable.co/blocks/2XKgrbKTcy015Izk1jAkQSqJ6UzEmnGHgeO74zlsLjPgevhhyW2Y3Y22XkSNm5pc.jpg" alt="Businessman talking about investment stock market and graph from computer laptop with broker trader, giving money plan management and analysis" title="Businessman talking about investment stock market and graph from computer laptop with broker trader, giving money plan management and analysis" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/2XKgrbKTcy015Izk1jAkQSqJ6UzEmnGHgeO74zlsLjPgevhhyW2Y3Y22XkSNm5pc.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Acquiring and then holding BTC is more lucrative than providing cash to investors via buybacks when tracking each scenario over the past 4 years.<figure id="figure-g5je7qnym5lz5n6xnd"><img id="g5je7qnym5lz5n6xnd" src="https://cdn.durable.co/blocks/247JbIK1xmdozxNXDljBuizHpDrdZrvmOkFWoO9erO9LzqsAW9OAf7YyPmhMiuWR.jpg" alt="Cryptocurrency market, financial data and candlesticks, internet banking" title="Cryptocurrency market, financial data and candlesticks, internet banking" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/247JbIK1xmdozxNXDljBuizHpDrdZrvmOkFWoO9erO9LzqsAW9OAf7YyPmhMiuWR.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>How Microstrategy raises capital for buying BTC.<figure id="figure-lp2gzp5hsllz5m2hqo"><img id="lp2gzp5hsllz5m2hqo" src="https://cdn.durable.co/blocks/b5UgiOkM7n5cxBMzdFfarUHk9MuxZYvsCWCu64IgMdOdMkshjj5ByoW5o32AYOVz.jpg" alt="Bitcoin and Ethereum cryptocurrency with candle stick graph chart, laptop keyboard, and digital background" title="Bitcoin and Ethereum cryptocurrency with candle stick graph chart, laptop keyboard, and digital background" class="object-cover bg-gray-100 selected" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/b5UgiOkM7n5cxBMzdFfarUHk9MuxZYvsCWCu64IgMdOdMkshjj5ByoW5o32AYOVz.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><figure id="figure-hw7lpmovs8lz5m3jqi" class="selected"><img id="hw7lpmovs8lz5m3jqi" src="https://cdn.durable.co/blocks/06UoWrUSFaSSLm8H8rkfshVwkJfeglFmL1avab20CvVR4eMpGcWWYNqn3ULwJFnd.jpg" alt="Block chain background" title="Block chain background" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/06UoWrUSFaSSLm8H8rkfshVwkJfeglFmL1avab20CvVR4eMpGcWWYNqn3ULwJFnd.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>

Day 2 - BTC Nashville 24 - Microstrategy has outperformed NVIDIA

Day 2 - BTC Nashville 24 - Michael Saylor Keynote

Candlestick chart and data of financial market.

1130 - Enterprise StageA panel of investors discussed Bitcoin investing and professional money's observations about the market. In the audience were several VCs and hedge fund types diligently taking notes from the panel - Greg Carson (Humla Ventures), Asher Carson (Unbroken Chain Fund), Matthew Siegel (Vaneck), Namcios (UTXO Management). Listed below are some brief snippets on things a deeper dive may be of use to those interested.....'Gold ETFs own less than 1 percent of the supply' which was a veiled reference to the volume of BTC owned by ETFs. Unfortunately I didn't catch the percent ETFs have under management but suspect its near 5% based on volumes found during a google search.The CEO of VANECK has put 35% of his personal wealth into BTC.The panel believes layer 2 and opcat &nbsp;aren't priced into BTC yet. Translated- the market has recognized the utility and impact BTC will have.BTC Miners listed on major exchanges control 30% of the market.Innovation is needed to keep feeding the miners so they will stay and keep the network secure and viable.Vaneck noted that Miners are taking on less debt as of late but didn't allude to this being either good or bad.<figure id="figure-3yiqlgzqidlz43uas8"><img id="3yiqlgzqidlz43uas8" src="https://cdn.durable.co/blocks/27gVgp4SlTdLUyvpaxdXUWM9UsDIpv6Xa2ziIgvOdZNEFJVUyJHaCB0Kts0e8mfp.jpg" alt="AI-Enhanced Social Networking" title="AI-Enhanced Social Networking" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionX="undefined" data-positionY="undefined" data-fullWidth="false"/></figure>

Day 2 - BTC Nashville 24  Investing in BTC Season 2

Fidelity Investments Consumer Location III

11am Enterprise stage Fidelity digital assets host Chris Kuiper hosted the Bitcoin Through the Eyes of Institutional Investors session on the Enterprise stage at 11. In 30 minutes he laid out the approach to investments firms like fidelity takes and where Bitcoin fits in. The following slides were taken throughout with some color commentary provided below each.&nbsp;<figure id="figure-uok5v79l6lz42t2ju" class=""><img id="uok5v79l6lz42t2ju" src="https://cdn.durable.co/blocks/7vPHFND8CSGBbPhvdkKAGn7WsDjycf0L442liYKXj7yaMvH14XSLsupcmJ9470bU.jpg" alt="Young business man looking at trading charts reflecting in glasses, close up." title="Young business man looking at trading charts reflecting in glasses, close up." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/7vPHFND8CSGBbPhvdkKAGn7WsDjycf0L442liYKXj7yaMvH14XSLsupcmJ9470bU.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><figure id="figure-zihqtsebxqlz42v4gf" class=""><img id="zihqtsebxqlz42v4gf" src="https://cdn.durable.co/blocks/33xWj9SdbOJYPZ0sU1fSa29IWFRHby5nFaIbgQxwV5JqKLw0CH39itxyvx4sv0lG.jpg" alt="Crypto Whale Bitcoin Cryptocurrency Large Investor Holding Coin Asset" title="Crypto Whale Bitcoin Cryptocurrency Large Investor Holding Coin Asset" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/33xWj9SdbOJYPZ0sU1fSa29IWFRHby5nFaIbgQxwV5JqKLw0CH39itxyvx4sv0lG.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>The Market has to figure out the price of its with near zero correlation to other assets and this causes volatility.<figure id="figure-406shbvkkntlz42w4m4" class=""><img id="406shbvkkntlz42w4m4" src="https://cdn.durable.co/blocks/2bCNinU1Z5usRQhVJSpXtTtRMRGU34fpHF12NmalRCwp41LksV6UAvK3UGOSq1Pv.jpg" alt="Trader investor analyst using mobile phone app for cryptocurrency stock market, analyzing graph trading data index investment growth chart, plans strategy. Close-up of male hands holding smartphone" title="Trader investor analyst using mobile phone app for cryptocurrency stock market, analyzing graph trading data index investment growth chart, plans strategy. Close-up of male hands holding smartphone" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/2bCNinU1Z5usRQhVJSpXtTtRMRGU34fpHF12NmalRCwp41LksV6UAvK3UGOSq1Pv.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Stocks are less volatile than many of the s&amp;p companies&nbsp;<figure id="figure-0rrk2wsbvelz42x92d" class=""><img id="0rrk2wsbvelz42x92d" src="https://cdn.durable.co/blocks/198vNb3I4U4se1uhZ0KF2DPd0gjZKqex4c6qANOSVzKVSxMmCG6JiIoCgxjr2tgz.jpg" alt="stock market investment graph on financial numbers abstract background.3d illustration" title="stock market investment graph on financial numbers abstract background.3d illustration" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/198vNb3I4U4se1uhZ0KF2DPd0gjZKqex4c6qANOSVzKVSxMmCG6JiIoCgxjr2tgz.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><figure id="figure-ikwdfhaggilz42y4z7"><img id="ikwdfhaggilz42y4z7" src="https://cdn.durable.co/blocks/10aBtiQCFPe4a1MtMoZS6nKXUnDF9pxAVOsXk9gdXdqbfYWIUz41tzR27iZZE5ZO.jpg" alt="Asian Business Woman is checking Bitcoin or stock market price chart on the digital exchange on a laptop monitor computer, cryptocurrency future price action prediction. Trading Stock Bitcoin ETF." title="Asian Business Woman is checking Bitcoin or stock market price chart on the digital exchange on a laptop monitor computer, cryptocurrency future price action prediction. Trading Stock Bitcoin ETF." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/10aBtiQCFPe4a1MtMoZS6nKXUnDF9pxAVOsXk9gdXdqbfYWIUz41tzR27iZZE5ZO.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Sharpe calculates return over risk and is used by firms in their decision to invest. Sortino ratio works the same way Sharpe does except it only looks at the downside of the standard deviation to figure out where the floor on an asset is.<figure id="figure-owmaiox98rglz42z1no" class=""><img id="owmaiox98rglz42z1no" src="https://cdn.durable.co/blocks/27u0opBxPLh2scOcGDLzXbzv2n5ZZ0s24rnOC0aAlWvqljIqaXKSPPDXoBpS0SL5.jpg" alt="Asian Business person use mobile smartphone app analyzing business data and prediction economic growth coronavirus crisis, Covid-19" title="Asian Business person use mobile smartphone app analyzing business data and prediction economic growth coronavirus crisis, Covid-19" class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/27u0opBxPLh2scOcGDLzXbzv2n5ZZ0s24rnOC0aAlWvqljIqaXKSPPDXoBpS0SL5.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Correlation is king! The less of it you see for an asset the more likely it is to ‘zig when other assets zag’.<figure id="figure-ob3jjt4haalz4309x5" class=""><img id="ob3jjt4haalz4309x5" src="https://cdn.durable.co/blocks/35kZ3pJ6Pxw3avBD20lUbjvV2GB454a6QXgc0roQcmdLQfIswuKNnRKDaj42Ojni.jpg" alt="Wave of musical sounds. Abstract background with interweaving of dots and lines. 3D rendering." title="Wave of musical sounds. Abstract background with interweaving of dots and lines. 3D rendering." class="object-cover bg-gray-100 " style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/35kZ3pJ6Pxw3avBD20lUbjvV2GB454a6QXgc0roQcmdLQfIswuKNnRKDaj42Ojni.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><figure id="figure-a5ka7iny5lz43146d" class=""><img id="a5ka7iny5lz43146d" src="https://cdn.durable.co/blocks/1cxqYhbMbQD9ZKIdDXyxfxw9rFDZNxfiAtUk3fbxe47dG5wqYsFoUOhmNfo8zAQ6.jpg" alt="Crypto Whale Bitcoin Cryptocurrency Large Investor Holding Coin Asset" title="Crypto Whale Bitcoin Cryptocurrency Large Investor Holding Coin Asset" class="object-cover bg-gray-100" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/1cxqYhbMbQD9ZKIdDXyxfxw9rFDZNxfiAtUk3fbxe47dG5wqYsFoUOhmNfo8zAQ6.jpg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure>Firms like Fidelity look at asset classes through the lens of 6 characteristics.&nbsp;

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