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- 🥜 1m Bitcoin On This Date
🥜 1m Bitcoin On This Date
PLUS: Trump's SEC Chair
Today’s edition is brought to you by eToro
GM to all you crypto nuts. Crypto Nutshell #503 chuggin’ along … 🚂🥜
We're the crypto newsletter that's more action-packed than fighting off alien invaders with Will Smith... 👽💥
What we’ve cooked up for you today…
💪 Who will lead the SEC?
🔮 $1 Million Bitcoin on this date…
📈 Another all-time high
💰 And more…
Prices as at 2:40am ET
WHO WILL LEAD THE SEC? 🤔
BREAKING: Trump wants Paul Atkins to lead SEC but he is reluctant to clean Gensler’s ‘mess’
Who will lead the SEC?
That’s the question on everyone’s mind right now…
In case you’ve been living under a rock, the outgoing SEC Chair Gary Gensler, quickly made himself crypto’s number one enemy.
Under Gensler’s reign, the SEC brought forward numerous lawsuits against industry giants such as:
Coinbase
Ripple
Kraken
Binance
OpenSea
These lawsuits were based on the above companies partaking in the sale of “unregistered securities”.
But…
There’s been little to no effort from the SEC to clarify exactly what the rules are for the crypto industry.
(Companies such as Coinbase have been working with Congress in order to make crypto regulations clear)
Remember, this industry is still super new. Security laws from 1946 ain’t gonna cut it anymore.
The SEC Chair is a super important role who has the power to greatly impact the crypto industry.
As it stands, Paul Atkins is Trump’s top candidate to take charge of the SEC.
Who is Paul Atkins?
Paul Atkins is the founder and CEO of Patomak Global Partners, a consulting firm specialising in regulatory compliance.
Patomak currently works with a number of crypto exchanges and DeFi platforms.
Prior to starting Patomak, Atkins was a commissioner of the SEC from 2002 to 2008. (Appointed by George W. Bush)
So he certainly has the necessary experience…
Will Atkins take the Job?
According to CoinDesk, Atkins was spotted at Trump’s Mar-A-Lago resort this week where he was scheduled to interview for the SEC Chair role.
But…
Those same reports indicate that he is somewhat reluctant to take the job for two clear reasons:
The first being the amount of work needed to turn around the agency that was mismanaged by Gary Gensler.
The second being that Atkins would have to resign from his business interests. Which he may only do once his firm is well-positioned to operate without him.
Prediction market, Kalshi, currently has Atkins at a 78% chance.
So far, Trump’s picks have been extremely bullish for crypto.
Every single one of them has expressed interest in supporting the crypto industry.
What a switch up…
We’re going from a super anti-crypto administration to one that welcomes the age of digital assets.
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BITCOIN HITS $1 MILLION ON THIS DATE 🔮
Bitcoin will hit $1 million per coin in less than a year. 😳
That’s the latest prediction out from PlanB.
For those of you who don’t know PlanB, he is arguably the most famous on-chain Bitcoin analyst.
With over 2 million loyal followers, he is most well known for his Stock-to-Flow model and accurate price predictions.
Back in September, Plan B laid out an aggressive timeline of predictions. So far, he’s been spookily accurate:
$70K Bitcoin in October
$100K BTC in November. (Bitcoin hit $99.7K in November, close enough.)
However, Plan B also made predictions all the way out to 2027:
The highlights?
$150,000 Bitcoin by the end of 2024
$1,000,000 Bitcoin by July to December 2025
How Realistic Is A $1M Bitcoin?
PlanB’s track record gives these predictions some weight, but a $1 million Bitcoin in 2025?
That’s face-melting.
If his timeline holds, we’re looking at the most explosive crypto cycle ever.
The next big milestones to watch:
ETF inflows this month - a key indicator of institutional interest
Global adoption kicking off by mid-2025
Hold on tight. If PlanB is even 50% correct, the next 18 months could redefine Bitcoin & crypto forever.
ANOTHER ALL-TIME HIGH 📈
Today we’ll be taking a look the overall stablecoin supply.
Stablecoins are often used on centralized and decentralized exchanges to purchase other digital assets. And allow the instant transfer of money between borders.
The chart below tracks the aggregate change in the total stablecoin market cap.
🟢 Increased stablecoin supply: increased demand and capital inflows into the digital asset space 🐂
🔴 Contractions in stablecoin supply: net capital outflows from digital assets 🐻
The last time we checked in on this metric, the stablecoin market cap was ~$170.64 billion. (20th of November)
Today the aggregate stablecoin market cap is ~$179.96 billion. 📈
An increase of $9.32 billion in the last two weeks is WILD.
And guess what? 🤔
That’s another all-time high!
The stablecoin market cap has been going crazy this year.
Year-to-date it’s increased by $55.08 billion. 🤯
Capital is now well and truly pouring back into the crypto industry. (This metric will continue to rise as the bull market progresses)
Here’s the simple takeaway:
This is one of the most important metrics for an altcoin bull run.
More liquidity = Larger potential pumps 😎
CRACKING CRYPTO 🥜
Bitcoin falls to $61k on South Korean exchanges as President declares martial law. Upbit sees Bitcoin price drop $4,000 below global averages amid unrest.
Virgin Voyages launches ‘first cruise product to accept Bitcoin’. The new offering builds on previous seasonal passes offering a full year’s worth of voyages for a single fee.
Polymarket Retains Loyal User Base a Month After Election, Data Shows. Trading volume grew and grew through the fall. All along, doubts lingered about whether the platform’s trader base would hold steady after the ballots were cast.
Ethereum's monthly onchain volume hits $183.7 billion in November. This increase is likely driven by capital rotation, as market participants move down the risk curve, reallocating funds from CEXs to onchain activities.
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) - Twice weekly Bitcoin news
Crypto Pragmatist (link) - Actionable alpha 3x a week
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”)
Who is the creator of Bitcoin? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) Satoshi Nakamoto 🥳
Bitcoin was created by an anonymous person or group using the pseudonym Satoshi Nakamoto.
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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.
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