In brief
It is time to switch to Satoshis. Too many people telling me at $58,000 $BTC too expensive. Which exchange will be first to quote in SATS? @cz_binance @brian_armstrong @SBF_Alameda @tyler
— Mike Novogratz (@novogratz) May 8, 2021
$117,537.00
1.90%$3,742.95
4.02%$3.14
2.30%$784.01
3.84%$185.91
4.94%$0.999907
0.00%$0.237239
5.57%$3,737.46
4.36%$0.317643
1.95%$0.824631
4.07%$117,569.00
2.08%$44.25
6.83%$4,531.56
4.49%$3.98
10.62%$0.440081
6.22%$18.36
5.22%$4,022.37
4.32%$0.267711
14.39%$555.05
7.29%$4,008.23
4.12%$24.07
4.79%$113.43
3.86%$3,741.78
4.14%$8.99
0.02%$0.00001407
6.85%$3.34
8.91%$0.999896
0.01%$1.001
-0.02%$1.00
-0.12%$44.13
2.12%$10.52
7.22%$4.12
5.30%$117,481.00
1.88%$323.99
-2.95%$0.00001259
5.92%$4.58
1.53%$297.66
5.11%$0.132989
6.79%$1.19
0.01%$424.91
4.22%$0.586701
20.40%$2.87
9.07%$23.27
7.58%$0.443554
1.47%$1.045
6.20%$4.78
4.31%$5.64
4.96%$226.69
4.85%$48.14
1.58%$0.00003552
7.14%$0.04241376
15.95%$0.099238
3.95%$0.766097
3.44%$1.00
0.00%$0.269258
6.31%$0.448773
7.20%$3,743.26
4.00%$0.0258344
6.52%$1.001
0.07%$4.21
6.67%$4.69
3.13%$0.234357
4.21%$17.60
1.00%$1.16
5.79%$10.10
3.50%$0.093805
14.32%$4.53
0.81%$0.736495
3.05%$0.329218
5.87%$198.02
5.19%$1.97
16.86%$2.65
4.89%$121.60
3.89%$4,260.67
4.12%$117,534.00
2.23%$3,919.68
4.15%$0.553325
5.55%$1.06
0.02%$0.02352189
6.70%$5.08
1.98%$5.42
7.22%$11.68
-2.55%$0.999766
0.03%$1.029
5.47%$3,934.26
4.30%$1.95
8.05%$0.08695
5.18%$4,008.98
4.29%$14.13
7.47%$0.999458
0.00%$1.00
-0.18%$4,039.36
4.17%$1.36
2.58%$1.31
1.27%$0.00013334
9.48%$0.808244
7.50%$0.726323
7.92%$3,934.70
4.03%$1.00
-0.01%$117,409.00
1.76%$209.29
5.12%$0.334432
4.97%$0.566935
6.63%$1.072
6.53%$0.104979
5.69%$783.33
3.60%$1.58
4.38%$30.62
11.58%$0.999363
-0.21%$1.097
5.02%$2.78
7.47%$0.163873
3.49%$3,737.52
4.28%$3,353.71
-0.42%$0.895407
5.77%$117,420.00
1.94%$243.81
4.87%$0.00262198
10.53%$0.180781
2.07%$0.350577
-0.25%$118,679.00
2.67%$1.11
0.01%$0.575127
3.64%$1.00
0.04%$0.883609
5.64%$0.01711855
4.52%$3,334.84
-0.96%$0.207763
5.96%$3.03
4.56%$3,737.58
4.14%$0.01763623
5.16%$4,004.17
4.35%$3,917.54
3.98%$0.905014
4.47%$0.305256
4.95%$0.129154
6.93%$4.48
7.18%$9.05
-14.50%$1.97
2.25%$111.94
0.02%$1.093
-0.02%$0.998392
-0.06%$0.00000068
2.09%$117,725.00
2.52%$0.413783
4.93%$0.999665
-0.01%$0.396427
19.48%$40.65
4.35%$0.546676
-7.41%$3,743.85
4.36%$3.43
3.59%$0.460153
9.99%$1.94
4.75%$0.00877025
0.58%$0.317129
4.68%$0.237216
5.86%$0.00000153
9.85%$3,976.47
4.26%$29.11
2.76%$0.99776
0.02%$0.999934
0.01%$117,558.00
1.91%$0.563946
-1.53%$0.558017
4.12%$116,813.00
0.66%$0.056426
7.50%$0.0060512
4.48%$3,743.31
4.13%$4,122.84
4.04%$0.01563536
4.44%$1.00
0.02%$0.074551
-0.58%$0.657146
3.89%$1.49
5.59%$0.00881504
7.29%$44.32
7.28%$7.70
8.25%$1.19
10.17%$0.997519
-0.04%$4,021.04
3.58%$0.410144
2.44%$0.6363
5.63%$1.053
12.51%$0.132634
7.05%$16.38
4.73%$6.58
4.36%$0.185094
9.81%$1.16
0.05%$0.00000047
0.50%$48.98
4.82%$4,530.61
4.22%$5.56
16.66%$0.00002275
5.43%$3,720.61
3.70%$0.401458
2.43%$0.00846494
10.89%$2.60
5.94%$3,741.95
4.14%$1.35
7.53%$7.46
3.20%$0.414636
-4.60%$10.76
0.01%$0.04246169
5.48%$1.094
-0.01%$0.056184
5.71%$44.02
6.57%$0.997911
-0.28%$0.999921
0.00%$13.64
2.41%$0.191198
-4.35%$0.084264
4.88%$0.999885
0.00%$1.002
0.25%$0.278745
3.95%$203.99
5.33%$0.574927
2.94%$145.80
4.51%$24.06
4.48%$29.28
4.66%$1.37
3.50%$0.01961836
5.82%$0.381665
8.31%$0.918379
23.14%$0.143301
2.54%$0.371103
26.25%$0.559518
2.99%$0.03706266
0.84%$0.03429698
6.91%$22.23
1.32%$0.00363041
3.29%$0.00526233
8.51%$0.801446
4.95%$0.00000086
13.81%$0.00006342
4.39%$116,970.00
1.36%$117,446.00
1.92%$0.74846
0.85%$0.00394469
0.88%$0.234103
3.89%$1.39
6.30%$0.804384
3.62%$0.00375622
14.22%$0.999821
0.01%$0.00388993
2.96%$3,922.76
3.94%$4,213.71
3.86%$1.00
0.11%$0.997988
0.01%Reading
Role
President at Fortress Investment Group
Location
New York
Education
Princeton University
Current Project
Fortress Investment Group
Mike Novogratz, CEO of digital asset firm Galaxy Digital, argues that cryptocurrency exchanges should switch over from listing Bitcoin to listing satoshis (Sats), the smallest unit of the cryptocurrency.
Novogratz made the case for Sats in a tweet over the weekend.
It is time to switch to Satoshis. Too many people telling me at $58,000 $BTC too expensive. Which exchange will be first to quote in SATS? @cz_binance @brian_armstrong @SBF_Alameda @tyler
— Mike Novogratz (@novogratz) May 8, 2021
“It is time to switch to Satoshis," Novogratz wrote, adding that "many people" have told him that Bitcoin at $58,000 is too expensive. “Which exchange will be the first to quote in Sats?” he asked.
Novogratz also tagged some of the heads of the world’s most popular crypto exchanges in his tweet, including Changpeng Zhao of Binance, Brian Armstrong of Coinbase, Sam Bankman-Fried of FTX, and Tyler Winklevoss of Gemini.
As Novogratz’s tweet implies, the call to list Sats is an effort to help spur Bitcoin’s wider adoption.
Bitcoin—today, at least—looks expensive to newcomers, at about $58,000 per coin, making it daunting to people who may not realize it’s possible to buy just fractions of one Bitcoin.
Listing Sats could help to make Bitcoin more accessible. “While it makes financially no difference to change the denomination from BTC to Sats, it has a psychological impact that likely helps further adoption,” Ingo Fiedler, co-founder of the Blockchain Research Lab, told Decrypt.
But according to his tweet, Novogratz is arguing for directly replacing BTC with Sats. That might be too far for some. After all, while Bitcoin may be a household name, Satoshis don’t have nearly the same level of brand recognition.
“The sensible action is for exchanges to duplicate their BTC/USD trading pair to offer both denominations while sharing the orders between them to keep liquidity,” Fiedler added.
Sats are the smallest divisible denomination of Bitcoin. Unlike pounds or dollars, which are comprised of 100 pennies or cents, there are 100 million Sats in each Bitcoin. At Bitcoin’s current price, a satoshi’s dollar value is $0.0005776.
As Bitcoin prices have swelled, so too has the chorus of critics who claim Satoshi's invention is an environmental disaster due to the huge amounts of energy it takes to run the network. Now, a Canadian alternative asset manager is offering a creative solution to the problem. On Monday, Toronto-based Ninepoint Partners announced that its Bitcoin exchange-traded fund (ETF) will come with carbon offsets. Most significantly, the offsets are not simply an option for green-minded investors, but will...
If Bitcoin’s price remains in its current range, or climbs higher, it becomes increasingly possible that prices for smaller transactions could be quoted in Sats, since for most everyday transactions, prices are unlikely to exceed one BTC.
“Until recently, using Bitcoin as the main accounting unit was the logical choice,” Jason Deane, Bitcoin analyst at Quantum Economics, told Decrypt, adding, “Since this headline measure is approaching a value that seems impossible for small-to-medium level adopters, it makes sense to begin transitioning to Satoshis at this point.”
In other words, when you buy your morning coffee with Bitcoin, it would be a lot easier to spend 25 Sats than 0.00000025 Bitcoin.
Another day, another crypto treasury. Biotech firm Windtree Therapeutics said Thursday that it plans to buy up to $700 million worth of BNB to put on its balance sheet—one day after the asset hit a new all-time high price. The Warrington, Pennsylvania-based company, which trades on the Nasdaq under the ticker WINT, said that it is raising up to $520 million to fuel BNB purchases after previously announcing a plan to buy $200 million in the cryptocurrency. It also said it would partner with crypt...
A former digital assets executive at BlackRock, Joseph Chalom, has joined publicly traded Ethereum treasury company SharpLink Gaming as co-CEO, the firm announced on Friday. Chalom, who helped launch BlackRock’s Bitcoin and Ethereum ETFs, led the financial giant’s strategy on digital assets as the managing director and head of strategic ecosystem partnerships. “After 20 years at BlackRock and helping to lead its digital asset strategy, I’m beginning a new chapter: I’ve joined SharpLink Gaming a...
At Tron’s principal place of business in Winter Park, Florida, there are no apparent signs of Chinese crypto mogul Justin Sun or the $30 billion blockchain that he founded, such as placards, business cards, or even a sign. Instead, the publicly traded Tron—formerly known as SRM Entertainment—keeps a low profile at Regus, a communal office space in the affluent Orlando suburb, where the firm specialized in designing theme park merchandise and stuffed goods under its previous name. Two representat...