Together with

GM to all of you nutcases. It’s Crypto Nutshell #623 touchin’ down… 🛬🥜

We're the crypto newsletter that's more explosive than a mission gone wrong on the streets of Rome with no way out... 💥🏛️

What we’ve cooked up for you today…

• 📉 The US gets downgraded

• 🚀 $1 Million Bitcoin by 2028

• 📈 Trending up

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

THE US GETS DOWNGRADED 📉

BREAKING: Moody’s cuts US credit rating

For the first time ever, Moody’s has officially downgraded the credit rating of the United States.

The reason?

One word: debt.

According to Moody’s, the U.S. is on track to spend 30% of its revenue on interest payments alone by 2035.

Wait… hasn’t this happened before?

Yes it has.

This isn’t the first time that the United States’ credit rating has been downgraded.

But it IS the first time that Moody’s has downgraded it…

• 2011: S&P downgraded the U.S. from AAA to AA+
  → Result: S&P 500 fell ~8% in 2 months
  → 10-year yields plunged ~35%

• 2023: Fitch followed suit, also citing ballooning debt and unaddressed fiscal risks
  → S&P 500 fell 10% in 3 months
  → Russell 2000 dropped 17%
  → But this time, yields surged ~23%

So what changed?

Back then, markets still considered U.S. debt “safe.”

Now? Investors are pricing in real risk.

Moody’s Warning:

Here’s what Moody’s noted in their downgrade:

• The U.S. deficit is projected to hit 9% of GDP by 2035 (up from 6.4% today)

• The federal debt burden will balloon to 134% of GDP (from 98% in 2024)

• Interest payments alone will consume 30% of government revenue - up from 18% now

That’s completely unsustainable…

Why This Matters for Crypto

For over a decade, the crypto community has been warning this day would come.

And now, Moody’s just validated the core Bitcoin thesis:

• Dollar debasement? Check. (More on this in the next section)

• Unsustainable debt spiral? Check.

• Institutional doubt in U.S. fiscal credibility? Check.

As sovereign credit risk rises, the appeal of non-sovereign stores of value like Bitcoin only grows.

Moody’s just made the case for Bitcoin stronger than ever.

Smarter Investing Starts with Smarter News

Cut through the hype and get the market insights that matter. The Daily Upside delivers clear, actionable financial analysis trusted by over 1 million investors—free, every morning. Whether you’re buying your first ETF or managing a diversified portfolio, this is the edge your inbox has been missing.

Subscribe for free and invest with confidence.

BITCOIN TO $1 MILLION BY 2028 🚀

Arthur Hayes recently took the stage at Token2049 in Dubai…

And he didn’t hold back:

Yeah. He said it.

And if you think that’s wild, his reasoning might be even crazier, because it actually makes a lot of sense.

Why Listen to Arthur?

• Founder of BitMEX, one of the most iconic platforms in crypto 🏛️

• Net worth over $500M 💰

• One of the sharpest macro minds in the space 🧠

• 10+ years of calling bulls, crashes, and everything in between 📉📈

So when he drops a prediction, it’s coming from a seasoned veteran of the space.

Why $1M Bitcoin by 2028?

Simple: America is going to print. A lot. 🖨️

Here’s why Hayes thinks that:

• The U.S.–China divorce is permanent 🌍

• The U.S. will need to stimulate growth before the 2026 midterms 📊

• Both parties will do what they always do: print to win 🗳️

He believes this next wave of printing will dwarf the last.

And when that happens?

Bitcoin, the antidote to fiat, will explode higher:

$1 million Bitcoin by 2028 might sound like a moonshot.

But in context? It’s not that crazy.

This call is backed by macro trends, fuelled by political incentives, and shaped by a system that only knows 1 solution:

Print more money.

When you zoom out, Hayes believes it’s inevitable:

$1 million per Bitcoin. 👀

TRENDING UP 📈

Let’s kick off the week with a look at the Bitcoin HODL Waves - one of the clearest snapshots of market conviction.

Each coloured band represents the percentage of Bitcoin that last moved within a specific time frame.

The cooler the colour, the older the coins - with purple showing Bitcoin that hasn’t moved in 10+ years.

As always, we’re focusing on long-term holders (LTHs) - defined as coins held for more than six months.

Here’s how the Bitcoin supply breakdown looks today compared to two weeks ago:

• 6m - 12m: 10.55% (up from 9.68%)

• 1y - 2y: 11.51% (down from 11.65%)

• 2y - 3y: 7.81% (down from 7.89%)

• 3y - 4y: 7.32% (down from 7.76%)

• 4y - 5y: 8.34% (up from 8.21%)

• 5y - 10y: 14.84% (up from 14.82%)

• >10y: 9.24% (unchanged)

TL;DR: 69.61% of all Bitcoin hasn’t moved in over six months. 🔒

That’s up slightly from 69.25% two weeks ago (+0.36% increase).

Key takeaways:

• The 6–12m cohort jumped significantly, suggesting short-term holders are crossing into longer-term conviction territory.

• While 1–4y holders trimmed slightly, the 4y+ bands all grew, showing veteran holders are still accumulating or staying put.

Overall, the long-term holder supply is trending upwards.

That’s some serious conviction. 💪

CRACKING CRYPTO 🥜

Alabama Man Sentenced for Hacking SEC’s Social Media to Post Fake Bitcoin ETF News. The hack in January 2024 briefly sent bitcoin’s price surging $1,000 before crashing back down minutes later.

Can’t Hold Coinbase Back, Nasdaq Initiation for eToro and Galaxy Digital. Between a hack and SEC probe, Coinbase had a choppy week. But COIN is now trading 18% higher than it was last Friday.

UK to require crypto firms to report every customer transaction. Crypto firms in the UK will need to report every customer transaction from 2026 as part of a broader effort to improve transparency in crypto tax reporting.

Bitcoin transaction fees hit 2025 highs as BTC price challenges recent $106,000 top. The seven-day moving average transaction fee on Bitcoin has increased by ~$1 since the start of May, and its value of $2.40 is the highest recorded value in 2025.

WHAT WE’RE READING 📚

Want to get even smarter? Check these out.

p.s. all completely FREE (one click subscribe link)

• Raremints (link) - Daily crypto news

• Bitcoin Breakdown (link) - Daily Bitcoin news

• Techpresso (link) - Daily tech news and insights

• The Hustle (link) - Get Smarter on Business and Tech

• Your Next Breakthrough (link) - Personal growth with Mark Manson

• The Neuron (link) - AI trends and tools to keep you ahead

CAN YOU CRACK THIS NUT? ✍️

Select your answer below and you’ll be redirected to the results page. (answer explanation can be found after “Meme Corner”)

MEME CORNER 😂

Because what would the crypto world be without its share of memes?

Trivia Answer: Polygon 🥳

Polygon is a Layer 2 scaling solution built to enhance Ethereum’s speed and lower costs — while Ethereum, Solana, and Avalanche are all Layer 1s with their own base protocols.

GET IN FRONT OF 95,000+ CRYPTO INVESTORS

Advertise with Crypto Nutshell to get your product or brand in front of the crème de la crème of crypto investors. Crypto Nutshell readers are high-income earners who are always looking for unique or interesting offers.

Get in touch today.😎

HOW DID WE DO? 🤷

We read every comment submitted in this poll and love to hear what you guys have to say. 😁 (bonus points for suggestions 🍪)

NUTCASE REVIEW OF THE DAY 🔍

DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research.