{"id":2739,"date":"2022-01-18T13:01:41","date_gmt":"2022-01-18T12:01:41","guid":{"rendered":"https:\/\/www.mereau-finance.com\/letter\/n9-lettre-de-linvestisseur-dans-les-crypto-actifs\/"},"modified":"2022-01-18T13:01:41","modified_gmt":"2022-01-18T12:01:41","slug":"n9-letter-of-the-crypto-asset-investor","status":"publish","type":"letter","link":"https:\/\/www.mereau-finance.com\/en\/letter\/n9-lettre-de-linvestisseur-dans-les-crypto-actifs\/","title":{"rendered":"No. 9 \u2013 Crypto-Asset Investor Letter."},"content":{"rendered":"

Hello everyone,<\/p>\n\n\n\n

The purpose of this letter is to inform you about the current situation of the crypto-asset market, as well as recent news in the field. This letter is not investment advice, but merely the sharing of my personal point of view.<\/p>\n\n\n\n

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News<\/h3>\n\n\n\n
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Meta (formerly Facebook) is recruiting employees from Microsoft and Apple to build its metaverse!<\/a> The American giant does not hesitate to offer very attractive salaries to poach talent from the competition. Meta did not hesitate to double the salary of certain employees strategic to the development of their new project. \u00abMeta has hired around 100 Apple engineers over the past few months\u00bb<\/em>, Bloomberg reports. These American giants are fighting for IT engineering skills. The value of skills in this field will likely increase significantly in the coming years. <\/p>\n\n\n\n

A hydroelectric power plant in Costa Rica is turning to Bitcoin (BTC) to keep operating.<\/a> There has been an overproduction in recent months, which led the hydroelectric plant in question to close due to a lack of demand from the state. Eduardo Kooper, the company's president, explains that he was \u00ab very skeptical<\/em> \u00bbat first, but the company becomes profitable again thanks to this solution. As he points out, Bitcoin miners are looking to obtain electricity\u00ab clean and inexpensive, with a stable internet connection<\/strong><\/em> \u00bbThis type of agreement with power plants should therefore tend to become more widespread. <\/p>\n\n\n\n

Generally speaking, Bitcoin network miners tend to use more and more renewable energy simply because they need the cheapest electricity possible, and the cheapest electricity on the market necessarily comes from areas where it is in abundance and therefore close to hydroelectric dams like the one in Costa Rica. <\/p>\n\n\n\n

The city of Rio de Janeiro in Brazil is going to invest % of the public treasury budget in cryptocurrencies.<\/a> The city could also grant tax discounts for taxes paid in Bitcoin. Pedro Paulo, Secretary of Finance, explained during the event that Rio de Janeiro was studying the possibility to accept BTC payments for property tax<\/strong>. Residents choosing this payment method will receive a discount. We are seeing more and more countries, cities, and private companies turning to this new asset class, which is good news for the adoption of crypto-assets.<\/p>\n\n\n\n

US banks are teaming up to create a stablecoin!<\/a> What is a stablecoin? Click here<\/a>). At the center of all regulatory attention, this specific class of cryptocurrencies could be the sesame for mass adoption<\/strong>. Our money is already fully digitized in centralized files in our banks. In the context of the growing digitization of the economy and the adoption of cryptocurrencies, the stablecoin is an opportunity for major banks. Some have understood this well: the New York Community Bank <\/strong>(NYCB), the NBH Bank<\/strong>, the FirstBank<\/strong>, the Sterling National Bank<\/strong> and the Synovus Bank<\/strong> work together on the development of USDF<\/strong> a new US dollar-backed stablecoin.<\/p>\n\n\n\n

The American retail giant Walmart is diving into the metaverse too!<\/a> At least that is what seems to emerge from trademarks that were quietly registered last month. Walmart is not the only one. Ever since Facebook announced it was renaming itself Meta last October, Major brands have rushed into this new sector<\/strong>. In December, Adidas thus sold 30,000 NFTs<\/a> from his collection \u00ab Into the Metaverse<\/em> \u00bb. And its competitor Nike had also shown interest in the subject that same month. Disney also announced that he was working on his own virtual universe<\/a>, accessible within its parks<\/p>\n\n\n\n

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Technical & Fundamental Analysis<\/h3>\n\n\n\n
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To give you a better overview, here is the price of Bitcoin over the past two years in dollars.
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At the time of writing, the price of Bitcoin is 42,800 $ (on 01\/17\/22). <\/p>\n\n\n\n

The price correction continued at the start of this year. This does not call into question the fundamental growth of the stock price and the long-term bull market. <\/p>\n\n\n\n

The BTC price has returned to test the support zone around 39 - 41k $, and for now, it seems to be holding. This is an important zone and is strongly defended by buyers. A bounce off this area would be a good thing, and for now, the price does not want to drop any lower. <\/p>\n\n\n\n

For on-chain data (data captured by analyzing BTC holders on the Bitcoin blockchain), not much is happening. The market is currently in limbo. <\/p>\n\n\n\n

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