Banking on bitcoin

The 2021 crypto bull run continues today. ETH broke $1500 then $1600, while BTC continued climbing to $38k. My IRA hit another nice round number with five zeros behind it, and by BadgerDAO positions just continues making new highs every day. Gas is has been hovering around 150 gwei or higher today, I’m waiting on a low gas transaction to withdraw my yaLINK. It’s looking like $200-300 fee at this point, so I’ve got to be more careful about what I ape into from here on out.

I managed to help my brother recover his funds from the timelock contract. Had some help from the team over Telegram and got his funds en route to BlockFi as we speak. I pulled all of my ETH from there last night after liquidating a few LTC that I had held over from 2017. I should have them in my wallet tonight, then let the games begin. Not sure what I’m going to do yet. Might buy some more DPI and stake it for INDEX, but I’ll probably want to sit on it while ETH runs to $2k and beyond. Transactions are going to get very expensive.

So the IRA LLC got approved. I spent most of last evening trying to find a decent, crypto-friendly bank. Most of them are in the UK, and the ones I could find that service US customers don’t have commercial divisions. I found one that deals with startups, but I don’t need anything fancy. Going to look at Capital One or Chase later today. Wells Fargo wanted additional paperwork beyond what I have already. So it goes.

Everything I read today was bullish. More and more firms buying bitcoin. Michael Saylor running his corporate treasuries training for some 1500 companies; Cathie Wood of ARK invest calling BTC a good investment; Bloomberg publishing a report that said the same. Startups everywhere. Just absolutely insane. DeFi is just getting started.

I actually caught up with some old friends today, back from the old crypto meetups that I used to host back in the day. Haven’t talked to one of them in almost two years I think, and it was good to catch up. Another is working for 0x (ZRX), and said that they’re very excited kabout this thread that went around yesterday.

I’m still trying to wrap my head around how I want to organize this IRA/LLC and whether I can use it as a vehicle for Homebrew Finance. It’s pretty clear that I can’t use the funds for personal gain, so I might have to find a different outlet for the funds. Either the funds will have to stay out of the set altogether, or the LLC will have to manage the Set completely. That rules out a DAO. For now, I’ll just focus on writing the documents and will do some more research over the next week as I get funds ready to move.

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