Crypto Biz: An eye-opening chat with Mr. Wonderful, April 7–13, 2022

The last seven days have reminded me how lucky I am to have built a career in Bitcoin (BTC) and the cryptocurrency industry. Cointelegraph sent a contingency of reporters to the Bitcoin conference in Miami, where we got to mingle with billionaires, business leaders, and hedge fund managers. I had the privilege of sitting down with Canadian businessman and Shark Tank star Kevin O'Leary who revealed most of his cryptocurrency portfolio.

I also came to the interview Mike McGlone, Senior Commodities Strategist at Bloombergwhich shed light on the volatility of the crypto market, as well as Mark Yusko of Morgan Creek Capital. Yusko and I laughed at traditional 60/40 portfolio strategies and I was able to ask him a curious question: Who in their right mind is buying bonds today?

This week's Crypto Biz brings you a good overview of Bitcoin 2022, as well as the latest finance and business news from the blockchain world.

Mr. Wonderful Kevin O'Leary reveals his top cryptocurrency picks

Kevin O'Leary made it very clear to Cointelegraph last week that Bitcoin and crypto are the future. There were so many things I wanted to ask Mr. Wonderful, but I decided to keep it as short as possible, since his entourage was hanging around behind the set. O'Leary said at the Miami Bitcoin conference that BTC mining can actually save the world by incentivizing green energy production. I decided to pick his brain on this matter by asking him for more concrete examples. I also asked him about stablecoin regulations, institutional appetite for digital assets, and of course what his current crypto portfolio looks like (you might be surprised by the answer).

BlackRock Joins Circle Stablecoin Issuer's $400M Funding Round

Watch what they do, not what they say. New York-based hedge fund manager BlackRock has put its weight behind stablecoin issuer Circle, leaving little doubt about its intentions to enter the crypto space. BlackRock, like several other companies, is backing Circle's $400 million funding round, which is expected to close sometime this quarter. In February of this year, Circle officially minted its currency USD 50 billion (USDC), giving the company a nearly 30% share of the stablecoin market. BlackRock wants to get in on the action, probably because it recognizes the huge potential of stablecoins to maintain the global hegemony of the US dollar. The asset manager has also been working behind the scenes to expand its footprint in the digital asset space.

Pantera to Shut Down Blockchain Fund Shortly After Raising $1.3B – Twice the Target

Cryptocurrency hedge fund manager Pantera Capital is about to close a massive Investment fund of $1.3 billion dedicated to early-stage blockchain startups, and you still think crypto is a fad? The capital raise is more than double the $600 million Pantera initially pledged in May of last year, just at the time altcoins were hitting record highs. Nearly a year later, and with crypto prices falling relative to expectations, one would expect institutional appetite for crypto to have waned. not so Smart money is actively looking to discover the next big crypto and blockchain plays. They don't care about short-term price action.

MetaMask Expands Institutional Offering by Integrating New Cryptocurrency Custodians

Decentralized Autonomous Organizations (DAOs) are finally getting the tools to participate in the broader crypto economy. This week leading MetaMask wallet and browser extension announced a strategic partnership with four cryptocurrency custodians (Gnosis Safe, Hex Trust, GK8, and Parfin) to enable DAOs and institutional clients to access various decentralized finance (DeFi) and Web3 activities. For institutions, custodians and custodian wallets play a vital role in storing private keys and facilitating transaction approvals, making the new MetaMask offering a potential boon to adoption. Have we finally found a gold standard for DeFi integration? Only time will tell.

Do not miss it!

With inflation making headlines again, Mark Yusko reminded us that price increases are not the real problem. “This is not inflation. This is currency devaluation,” Yusko said in an exclusive interview with Cointelegraph on Bitcoin 2022. The Morgan Creek Capital founder went on to explain the role of the Federal Reserve in undermining his purchasing power. I also asked him about his Bitcoin price outlook and if a 60/40 portfolio strategy is still feasible. You can watch the full interview below.

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