Crypto Cows 🐮 : Kansas City Cattle Co. Dives into Bitcoin

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Fix the money, Fix the Food 🐄 

The Kansas City Cattle Company, known for its premium Wagyu beef products announced today that it has adopted Bitcoin as their primary reserve treasury asset.

“The debilitating loss in purchasing power combined with the increases in costs in our industry have made this one of our easiest decisions we've ever made”, they tweeted.

The company has indicated imminent plans to integrate cryptocurrency into its transaction processes and reiterated its commitment to adopting the Lightning Network soon.

The dip that everyone wanted 🔻 

Grayscale's GBTC ETF witnessed a decrease in outflows, hitting a low of $75.1 million, marking its lowest outflow since February 26. Grayscale’s BTC holdings have now dropped from 621,000 BTC to approximately 325,000 BTC since the ETF launch in Jaunuary.

On the other end of the spectrum, BlackRock has become the biggest competitor for GBTC, now boasting over $17 billion in AUM.

In terms of overall performance, ETFs have only seen 14 days of net outflows since inception, compared to 42 days of net inflows.

YTD, the total net inflows for Bitcoin ETFs manage over $54 Billion worth BTC, amounting to more than 4.2% of Bitcoin’s circulating supply.

Better Late than Never🙏 

Irina Dilkinska, a former executive at OneCoin, has finally been sentenced to four years in prison and ordered to surrender over $111 million in profits for her role in a $4 billion cryptocurrency scam.

Despite her pleas for leniency citing her children and harsh jail conditions, the Manhattan District Court handed down the sentence on April 3rd, 2024.

Irina admitted her involvement in wire fraud conspiracy and money laundering in November 2023.

OneCoin, marketed as a revolutionary digital asset, was revealed by prosecutors to be a pyramid scheme, while Irina oversaw the daily operations of this fraudulent enterprise.

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HODLERS gonna HODL 🤷 

That concludes our update for today!

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