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Hi Everyone,
Today's note is a short one, as we begin the Jewish festival of lights.
So, with your permission, I'll impart only one thought.
The sun has gone down, and my family has already lit the first candle. Tomorrow night we'll light two, adding one light each night, until we reach a total of eight on the final night next week Thursday.
It wasn't always like this though. Some of our early sages advocated starting with eight lights on the first night and subtracting one each night until we reached zero, kind of like a countdown to something special.
Both are very valid opinions of how to commemorate the miracle that we know made a small jug of oil, barely enough for one day, last a total of eight days all those years ago.
In the end, it was decided that the spiritual nourishment received from the act of addition was greater than that of subtraction.
First, we start small, and then we increase our efforts until our goals are reached, kind of like dollar-cost averaging.
Today, the Bitcoin community is also celebrating since MassMutual, another financial mammoth, announced it had purchased $100 million worth of the digital currency for its portfolio.
They revealed this move was "part of a broad based strategy to take advantage of new opportunities while remaining diversified, giving us measured yet meaningful exposure to a growing economic aspect of our increasingly digital world."
This is a tiny fraction of their total assets. In fact, it works out to just 0.04255% of their total assets under management.
It's basically nothing, but as we know, a small amount of light has the power to transform a lot of darkness.
As we've seen throughout the last few weeks, the level of institutional involvement in this tiny market is growing at a very rapid pace, and it will only continue to grow from here.
It's one of many reasons to be bullish about bitcoin.
Happy Hanukkah!! |
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Mati Greenspan Analysis, Advisory, Money Management |
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