Flew in from Las Vegas for 36 hour quick trip to Palm Beach when fellow Puerto Rican Bill Zanker invited me to the Trump crypto summit. Impressive crowd, speakers and excitement about the future.
Bitcoin has now retraced to below $70k. Once price drops below the 200-week moving average (currently $57,900) it’s a great time to buy.
Most likely we will have a bounce back over $80k before the final plunge, exhausting weary ETF investors into capitulation, despite how oversold we are right now. It would be awesome if we could rip the bandaid off quickly and hit the bottom this week or month, but there is really strong buying resistance at $65k and $60k. If we lose that support, price could drop all the way to $45k - which would be an amazing entry point on the inevitable road to $1 mm bitcoin.
I bought another original from the artist Edsen (who painted the Godfather painting that hangs in my Miami home) during Art Basel. This one will be hanging in my Puerto Rico living room (and came with both an NFT and an ordinal).
Another year, another annual gala dinner (41st annual, my fourth) supporting the Museum of Ponce. It’s arguably the top event on the Puerto Rico social calendar each year, and the sitting governor always attends.
I’m getting ready to celebrate ten years in Puerto Rico, and I’ve been living here for five governors, all of whom I’ve met and discussed how the blockchain community and Puerto Rico can help one another. In some administrations, that was a tough conversation. But our new Governor Jennifer Gonzalez-Colon (seen here at the gala with me and Joyce) supports President Trump’s positions on Bitcoin and crypto, and I’m looking forward to our future conversations to move things forward.
Joyce Chow spoke today on the opening panel at BitBasel Family Office Forum. What was interesting wasn’t having three powerful women on the panel (women and investing was the topic after all), but that all three were Asian women investors. It wasn’t intentional, it’s simply tge recognition of a growing force.
Brock Pierce and I reprise our latest version of our running fireside chat series this afternoon at 2:30 pm.
Lowest Bitcoin confidence levels in three years (6 on the Fear and Greed scale) - lower than FTX. Market is way oversold and should have a reversal soon, but we will likely be in a bear market until we dip under $60k - and that should take a while. If it drops that low quickly, then we could drop to $40k - bear markets take about a year to kill off all hope - and that’s when you buy back in for big profits in 2029 market top.
