Eliézer Ndinga’s Post

Thanks CoinDesk and Jennifer Sanasie for having me! The Halving of 2024 was one of a kind and structurally different from the past events. Here is why: 1. For the first time in Bitcoin's history, the inflation rate (rate of new Bitcoins YoY) dropped below 1% at 0.85%: From ~ 900 BTC a day, down to ~ 450 BTC a day. 2. Miners' revenue from transaction fees surpassed the block reward (revenue from new Bitcoin emissions): roughly $80m in fees vs $26m in block reward. In the last few days the total amount of fees paid to miners on the Bitcoin network was 24x Ethereum's fees. 3. The Bitcoin blockchain has evolved beyond payments with smart-contract layers like Stacks and protocol standards like BRC20s and Runes. The prohibitive fees is the best case for Bitcoin-powered mobile/web applications starting with payments like the PayPal and Venmo of the world. 4. With the pent-up demand for spot ETFs, in the U.S., Bitcoin reached an all-time high value ahead of the Halving while in the past it took circa 18 months post Halving to reach new highs. What's next for the Bitcoin price? No one knows, however, we should expect more volatility this year. Last year, Bitcoin experienced 0 days with a drawdown of 10% or more within a day, while in the past 10 years it happened over 40 times. In other words, once a quarter we should expect similar daily drawdowns. https://lnkd.in/dYvvG9b6 Read more my analysis here: https://lnkd.in/dEvNCpp4

What a milestone, from less than $20 million in assets when I joined 21Shares, 4 years ago, to over $5 billion today. I couldn’t be prouder of our team and thankful to our community loving our products and research.

We at 21Shares have an exciting announcement: We partnered with Chainlink to launch our Proof of Reserve on the Ethereum blockchain. Use cases with blockchain technology are expanding and we are excited to set the standard. A huge shout out to everyone involved to make it happen! Maggie Ng Cat Bradley Ophelia Snyder Hany Rashwan Krishnan Nair Andres Valencia Andrew Jacobson Joshua C. Johann Eid William Reilly, Jr. — and more!

I will be speaking at Building on #Bitcoin tomorrow! We’re gathering to discuss all things DeFi, Ordinals, Scaling Bitcoin with Layer 2s, and of course ETFs. Register here: https://lnkd.in/eHqagAtb #BitcoinBuilders