Bitcoin breaks records again: the relentless rally fueled by institutional demand 📈💸; Monzo's fresh $5 billion valuation and ambitious yet questionable US expansion plans 💰🇺🇸

FinTech is Eating the World, 5 March

Hey Everyone,

Good morning! Due to technical issues, yesterday’s newsletter is coming out today. But it is surely worth the wait as today we’re going to take a deep dive into Bitcoin which just broke a new record (analyzing the latest data, thinking about what’s next + two investment thesis for Bitcoin), and Monzo that just secured a new round of funding at a whopping $5 billion valuation (a recap of the current status, future plans + a deep dive into why Monzo is unlikely to succeed in the US). Let’s just jump straight into the interesting stuff 🌶

Bitcoin breaks records again: the relentless rally fueled by institutional demand 📈💸

The record🔥 Bitcoin, the world's largest and most popular cryptocurrency, has once again etched its name in the history books, defying skeptics and surpassing its previous all-time high set back in November 2021.

On Tuesday, March 5, 2024, Bitcoin briefly traded at a record $69,191.95, representing a staggering 63% surge since the start of the year 🤯

As expected, we saw a correction almost immediately after hitting the ATH, and currently BTC trades at around $63k per coin. Still solid!

Let’s take a closer look at this, analyze the latest data, and think about what’s next (bonus: two Bitcoin investment thesis for the future).