The biggest bullish news for STEEM...
...and no, you don't find it in the chart. For the most people it's actually hidden and it's in the post from @elipowell, the current managing director of Steemit.
If you didn't know Steemit was selling their STEEM every month to cover their expenses. That's one of the reasons why STEEM couldn't really move upside for a very long time.
The only income Steemit reported was the monthly selling of Steem. Amazon Web Services (AWS) bills were $225k alone. In addition, we had closer to 15 employees, our office lease was $20k a month.
So they cut it. We still don't know by how much, but if @elipowell is telling the truth then for example the monthly lease is now $2k and not $20k. AWS expenses are also going down and with more revenue streams from other places it's possible that Steemit will not have to sell those huge amounts of STEEM every month anymore.
For the first time in years will maybe STEEM have time to breathe a little.
They should burn the exact amount of steem (in dollar terms) or a fixed percentage rate of it of what they receive in add revenues... or airdrop them to the community/stakeholders..
Yes this is big news ... and it is very good in long run :)
Thanks for sharing 👍
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