Inexperienced investors fall into traps of buying something just because a company or charismatic leader has the “loudest voice” in the room by having the most money for press releases, being a natural born salesperson, and having a massive online following that guarantees their messages get retweeted and shared hundreds of thousands of times.
Having someone’s attention is the most valuable asset in the world, and some companies and people are better at winning it than others, even if they don’t deserve to.
Cryptocurrency investment opportunities are no different.
From coins to NFTs to digital collectables, every company is fighting for your eyeballs – and your dollars – every second of the day.
That’s why we’ve launched a new series here at Alternative Wealth Daily: Noteworthy or Noise.
In under five minutes, we’ll let you know whether the biggest headlines in the cryptocurrency market are noteworthy or just noise you don’t have to pay attention to. And I’m not here to just give you the news.
We’re going to tell you how these events will affect your crypto investments – and share the best ways to make money from this information.
Without further ado…
Welcome to the very first edition of Noteworthy or Noise!
There Are Less Creepy Ways to Get Free Crypto
Would you be willing to let someone scan your eyeball in exchange for a small amount of free cryptocurrency? That’s the proposition of a crypto startup that goes by the ambitious moniker “Worldcoin.” Designated operators use a metallic orb to scan biometric data from your iris. In return you receive some Worldcoin, an Ethereum-based (ERC-20) cryptocurrency valued somewhere between $10 and $200, with early adopters getting higher amounts.
The crypto community was unimpressed, openly ridiculing the project and questioning just what the company would do with all the biometric data it collects.
Honestly, if you want a little free cryptocurrency, there are easier, less creepy ways to get it.
Coinbase, for example, gives users crypto rewards for watching educational videos. SoFi offers customers $10 worth of Bitcoin (BTC) when they make their first crypto trade. You can earn free Bitcoin with Lolli, a Chrome extension that lets you earn rewards while shopping online. Both BlockFi and Gemini offer credit cards that pay rewards in crypto. And not one of these methods involves an orb sucking up your biometric data.
Uncorking the Pension Fund Tsunami
The Houston Firefighters’ Relief and Retirement Fund just put $25 million into Bitcoin and Ethereum. That may seem like a tiny amount in the grand scheme of things – and it is – but it’s a sign of what’s to come.
Pension funds have sat mostly on the sidelines as crypto has grown into a legitimate asset class over the past few years. But as they’ve watched Bitcoin and other cryptocurrencies skyrocket, more funds have started to dip in their toes.
The potential impact on crypto prices, particularly Bitcoin, is massive. The OECD (Organization for Economic Co-operation and Development) estimates pension fund assets in the U.S. alone exceeded $35 trillion at the end of 2020. Bitcoin’s market cap is just under $1.2 trillion; the total value of all cryptocurrencies is about $2.6 trillion.
Jim Kyung-Soo Liew, an associate professor at Johns Hopkins University’s Carey Business School, sees pension funds ramping up their allocation to crypto in the next three to five years. Liew wrote an academic paper on crypto and pension funds in 2017.
He told Cointelegraph that funds should be considering investing 10% to 20% of their assets into crypto. Such an inflow into crypto would drive a 10x increase in crypto prices, with Bitcoin leading the way.
We’re talking about a Bitcoin price north of $600,000. Suddenly $63,000 looks like a steal, doesn’t it?
You Don’t Want to Be at the Back of This Line
Robinhood CEO Vlad Tenev announced that the waiting list for the popular investing app’s upcoming crypto wallet had grown to 1 million customers. While customers can currently buy and sell crypto on the Robinhood app, they can’t move it out of their Robinhood account.
The new wallet will change that, giving customers much more flexibility in how they manage their crypto.
With the waiting list already past 1 million, a crypto wallet is obviously a much-desired feature. We already know Robinhood’s army of retail investors can make an impact on assert prices, be it a stock like GameStop Corp. or a crypto like Dogecoin (DOGE).
A crypto wallet will draw even more customers to the platform – and encourage existing customers to use it even more heavily. This is one of those minor catalysts that draws more retail money into crypto and helps push prices higher.
Not Your Grandfather’s Playboy Bunnies
Playboy launched its collection of 11,593 “Rabbitars” on October 26. The starting price for these NFTs (non-fungible tokens) is 0.1953 ETH (about $730). And no, the Rabbitars are not endless variations of something akin to Jessica Rabbit.
They’re actual rabbits and look more like such popular NFT collections as the Bored Ape Yacht Club (though less cartoonish). This is noteworthy because another major brand is jumping on the NFT bandwagon. But there is a bigger question here: Whether the Playboys NFTs are a worthy investment.
It’s true some early buyers of NFTs have made hundreds of thousands of dollars. But new collections are springing up almost daily. As more NFTs are minted, the question is this: Which will gain in value – and which will become the Beanie Babies of the 21st century?
Playboy NFTs, given the power of the brand, are likely to be worth more than NFTs cranked out by some unknown artist in their parent’s basement. If you really want to make money in NFTs, you need to be willing to take a deep dive into the culture so you know what you’re buying.
Advisory Board Member, Alternative Wealth Daily
Buying and holding stocks for decades is no longer the way to get rich. People are making millions off of cryptocurrencies, NFTs, collectables, precious metals, and other alternative investments. If you want to have the opportunity to make generational wealth and not wait 30…40…or 50 years for it to happen…now’s your chance. You can have moneymaking advice hit your inbox each week, for free, from the team at Alternative Wealth Daily.
One response to “Noteworthy or Noise: Free Crypto from an Eye Scanner, Playboy NFTs, and More”
November 01 2021