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India has huge opportunity to benefit from China’s crackdown on the crypto industry. Crypto is new, innovative technology for financial activities such as lending, payments, and distributing credit. It is the Web 3.0. China forcing out such innovation and advancement is to India’s benefit, and India should now embrace this new technology with open arms. Crypto can make India a global leader in this new technology. China’s crackdown on cryptocurrency is likely in part because it wants to remove competitors to its digital yuan, which its government controls. But this is the wrong approach, as crypto can coexist, and even complement, CBDCs. In addition, crypto is not just a “currency”. The technology is a new frame work for finance and information. China is choosing control over innovation, and potentially giving up a leading role in what could be the most important industry to come. With its growing and large young

Bitcoin is seeing impressive growth on nearly all fronts as we enter the final weeks of Q3 2021. We suggest investors look past the crash in prices last week, which we believe was a result of soft spot volumes and liquidations of overextended leveraged longs, and examine the on-chain data, which points to continued growth in the Bitcoin network. We are seeing rising confidence among Bitcoin holders across several metrics. Moreover, address and entity growth continues to trend higher in recent weeks, with some of these metrics at records. Bitcoin Investor Confidence Rising There are several metrics that point to strengthening investor confidence in BTC. The first of which is the holder (“HODLer”) net position change, which crypto intelligence provider Glassnode defines as the monthly position change of long-term investors. This figure has been net positive since mid-August 2021, indicating long-term investors are accumulating BTC. Recent data is especially encouraging