Stockhead Crypto Espresso: your quick shot of crypto moves and news

Bitcoin wasn’t, er, Buffetted by a high-profile attack on the crypto mainstay. No, Coinheads, it promptly gained 3%.

Good news, Coinheads, we’re back!

Bitcoin has gained 3%, a day after Warren Buffett claimed he wouldn’t buy ‘all of the Bitcoin in the world’ for US$25 because the math just don’t add up.

“It doesn’t produce anything,” he said, and he may have a point, but not everyone agrees.

It’s Thursday in Cryptoland. Let’s begin.

Bitcoin Bull Run, previous datasets pointing to softer bear market

Yes a softer bear market – let’s call it a teddy-bear Bitcoin market for obvious reasons – is on the cards, according to analysts at Bitcoin.com.

They say it’s been circa six months since Bitcoin’s all-time high at US$69K on November 10, 2021, and now its USD value is down 45%.

Typically after Bitcoin’s price tops, the bear market that follows leads to a more than 80% decline in value.

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Let’s have a Warren, buffet: Osprey founder takes on ‘Oracle from Omaha’

Coindesk: Osprey Funds Founder and CEO Greg King shares his crypto markets analysis, plus his reaction to the recent remarks from Warren Buffett and Charlie Munger, as the former claims that he would not buy all the Bitcoins in the world for US$25 dollars.

High-net-worth investors eyeing NFTs

A new global survey from one of the world’s largest independent financial advisory, asset management and fintech organisations suggests rich people can dig NFTs.

The deVere Group poll comes as momentum surrounding the digital asset class continues to attract fascination.

The Mercedes-AMG Petronas Formula One team, for example, is launching the first in a series of NFT drops.

The team is introducing 11 digital art NFTs featuring Mercedes-AMG Petronas cars, created and designed by the artist Mad Dog Jones. Three of them will be available for auction during the much-anticipated Miami Grand Prix this weekend.

'The NFT market is collapsing. Sales fell to a daily average of about 19,000 this week, a 92% decline from a peak of about 225,000 in September. Active wallets fell 88% to about 14,000 last week from a high of 119,000 in November.' https://t.co/ChjpIwu3OPpic.twitter.com/tTfezUQPjK

— Jesse Felder (@jessefelder) May 3, 2022

The deVere poll of 450+ HNW clients surveyed suggests 26% are looking to include NFTs into their investments before the end of 2022.

The respondents are clients who currently reside in North America, the UK, Asia, Africa, the Middle East, East Asia, Australasia and Latin America, and have more than £1m of investable assets.

In other NFT news

And if you didn’t think NFTs were going mainstream …

The Home of the Crocodile Hunter, Australia Zoo, has announced its own foray into the realm of non-fungible tokens, digital art and Web3 with the launch of its “Wildlife Warriors” NFT project.

Created on Algorand, the limited NFT series celebrates the 20th anniversary of Australia Zoo’s Wildlife Warriors and is centred on raising awareness and funds to protect the world’s wildlife and wild places; a cause that is at the heart of Australia Zoo and its world renowned owners, the Irwins.

In partnership with Australian startup Meadow Labs, the rare NFT project will consist of a series of drops, each focusing on a different Australia Zoo Wildlife Warriors animal.

Gold and Bitcoin mining: Is there synergy somewhere in the ether?

Bitcoin Magazine: Let’s take a trundle through some of the latest market data for Bitcoin and gold miners and see if we can ID any similarities and differences between the two industries – potentially alternate safe havens – and see if, despite relentless banter on Twitter, miners of gold and Bitcoin have more in common than is typically assumed.

This content first appeared on stockhead.com.au

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