$BTC. Hail to the king.

SJ Oh
7 min readNov 13, 2020

Friday November 13, 2020

It has been a good week. The World let out a (largely) collective sigh of relief with the confirmation of the POTUS’s days now numbered, everyone can get on with healing — not just from COVID, but from the diplomatic and economic ailments, we’ve endured for years. The change was certainly welcomed in the crypto community, with sentiment getting a boost ($5.2M of it in fact), in the form of Joe Biden contributions from FTX.US; the company behind the FTX exchange coming in as the 17th largest donor for the man in blue. Additionally, Biden is allegedly looking to tap Gary Gensler as his financial advisor- dotted with pro-Bitcoin stints in the form of lectures, articles and constructive comments…

This subsequently led to an 11.4% outperformance of $BTC vs. gold WoW as the relief rally lifted the tide for riskier assets. $BTC continued to power on.

Zoom out YTD,

A bit of a sore thumb? The best part yet however…

… is that there are more legs to it, 19% more it seems, until we start mapping out unchartered territory. With the “Wall of Resistance” at $16K scaled, things are looking sunny-side up.

Paypal has launched support for cryptocurrencies and mainstream media is losing their shirts. There were over 26M bitcoin addresses before this:

https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

Counting its 26M vendors the entry instantly doubles the number of open wallets out there, assuming one wallet per person (definitely not the case), that is only 0.66% of the 7.8B global population.

In the background, Square punched in yet another set of nosebleed numbers for Bitcoin. In their words:

Vis-a-vis headline,

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SJ Oh

Common Base CEO, pow.re co-founder. the strait jacket has been removed