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- 🥜 Revealing our 2024 crypto portfolio
🥜 Revealing our 2024 crypto portfolio
PLUS: Asia Wants Bitcoin
GM to all 64,612 of you. Crypto Nutshell #310 keepin’ it fresh... 🌿 🥜
We’re the crypto newsletter that’s more captivating than a man's journey through love and redemption with an unconventional mentor... 💔💼
What we’ve cooked up for you today…
🏦 Hong Kong ETFs launching
💸 Bitcoin is bigger than you realise
💪 HODLer breakdown
💰 And more…
MARKET WATCH ⚖️
Prices as at 7:45am ET
Only the top 20 coins measured by market cap feature in this section
HONG KONG ETFs LAUNCHING 🤑
BREAKING: Hong Kong Bitcoin & Ethereum ETFs to Begin Trading April 30th
Hong Kong financial regulators have announced that its Bitcoin AND Ethereum ETFs will go live on April 30th.
That’s right!
Unlike the United States, Hong Kong has officially approved a spot Ethereum ETF.
But just how impactful is this going to be?
ETF analyst James Seyffart had this to say:
“There a lot of people that are overhyping the value that they will provide. I think long-term that could be huge. But the problem is that the Hong Kong market is very small and mainland Chinese investors will not be allowed to invest.
Putting things into perspective, the entire Hong Kong ETF market has around ~$48 billion in assets.
Currently the US Bitcoin ETFs are already over $50 billion in assets.
The US Bitcoin ETFs have more in assets than the entire Hong Kong market...
“If these things get $1 billion in assets in the first year, that would be an absolute smashing success.”
BUT, Willy Woo posted an interesting chart to Twitter this morning.
In terms of users, Asia is a bigger crypto market than the US and European markets combined.
Regardless, the Hong Kong ETFs are another key step in making crypto assets more accessible to traditional investors.
Just don’t expect the same impact that the US ETFs had.
In other news, ETF hype continues to spread around the world.
Australia is now also set for a wave of Bitcoin ETF launches.
Remember, all of these ETFs are buying into a fixed supply.
Bullish. 😎
BEST 6 CRYPTO PORTFOLIOS FOR 2024 🧠
Crypto is going to be the best performing asset of the next 10 years.
But that begs the question:
Which coins should actually be included in your portfolio? 🤷♂️
That’s why we have broken down the 6 best crypto portfolios for 2024 and beyond.
Instead of just giving you our recommendations, we dove deep into the crypto portfolios of the best and brightest in the space.
Investors & pros managing tens of millions, if not billions, of dollars invested in crypto.
In our best 6 Crypto Portfolios for 2024 guide, we break down:
The optimal portfolio strategy
The 6 best crypto portfolios for 2024 (including our own)
5 crucial bull market tips, that you need to know
P.S. As always, to celebrate the release of another guide, we are again giving away $100 in USDT to 3 lucky readers.
To enter:
Head on over to the Crypto Nutshell Youtube channel & hit subscribe! (if you haven’t already!)
Watch our latest video, - Hit that like button & drop us a comment.
When finished, submit today’s poll at the bottom of the newsletter with a ‘done!’ 👇
That’s it!
BITCOIN IS BIGGER THAN YOU REALISE 💸
Bitcoin’s more than just a one decade adoption story
It’s a complete shift in the way we think about money.
That’s the latest out from Lyn Alden.
In her latest interview, Alden explained exactly what got her interested in Bitcoin.
Initially hearing about Bitcoin in 2013, Alden wasn’t convinced…
But seeing Bitcoin go through multiple cycles was a testament to its staying power:
“When you see it go through 3+ cycles of higher highs and higher lows, most assets don’t really fall 75% and then come back multiple times over the course of well over a decade.”
You’ve probably heard Bitcoin being compared to the tulip bubble.
But if you actually look at the chart you’ll notice a brief spike and then a complete collapse (never recovering).
Whereas Bitcoin now has a 15 year track record of grinding higher through volatility.
Alden then goes on to explain that Bitcoin is bigger than most people realise:
“Bitcoin is a bigger change than most people realise. They often think its just another monetary technology that goes on top of our other monetary technologies. I’ve been trying to emphasise that it is a pivot from how money has been working for a century and a half.”
To change a system that’s been in place for over a century…
That’s a big deal.
And it’s not going to happen overnight.
“It’s not a one decade adoption story, it’s a multi-decade, massive trend change in how money works.”
Bitcoin is a generational change.
HODLER BREAKDOWN 💪
Today we’ll be taking a look at the Long / Short-Term Holder Threshold.
Here’s how this metric works:
🔴 Short-Term Holders (STHs): coins that have been held for less than 155 days
🔵 Long-Term Holders (LTHs): coins that have been held for more than 155 days
🟥 Short-Term Holder Cost Basis: all coins purchased in this price range are STHs
🟦 Long-Term Holder Cost Basis: all coins purchased in this price range are LTHs
This metric is extremely powerful as we can see exactly what price STHs and LTHs purchased Bitcoin at. 🔎
The STH / LTH threshold is currently at 26th November 2023, back when Bitcoin was ~$37,000.
All coins purchased before this date are classified as LTHs.
All coins purchased after this date are classified as STHs.
Today there is currently 13,989,614 Bitcoin in the hands of LTHs. (71.04% of the circulating supply) 💪
Whereas the amount of coins held by STHs is only 3,404,062. (17.29% of the circulating supply)
(Quick note, exchange balances aren’t counted in this metric)
Taking a look at the chart above, notice how the amount of long-term holders has started to decline. That’s typical of bull markets.
As the price increases, long-term holders begin to lock in profits. As a result, the amount of short-term holders also increases.
BUT, Interestingly both metrics have begun to bottom out over the last two weeks.
Which indicates that long-term holders have slowed down their selling.
Looks like everyone is waiting for the bull market to once again pickup.
(fingers crossed that happens soon 🤞)
CRACKING CRYPTO 🥜
Binance's defense against SEC could be aided by Mango Markets case. Binance could strengthen its defense against the US SEC by drawing on an unrelated case.
Crypto trader sees best 'altseason' since 2017 as Bitcoin price cools. Bitcoin and altcoins are due a bullish transformation on higher timeframes, analysis predicts.
Japan's Embrace of Web3 Uncertain as Ruling Party Under Threat. Liberal Democratic Party leader and Prime Minister Fumio Kishida once called Web3 a “new form of capitalism,”
A bitcoin mining giant is ahead of schedule on its post-halving expansion. Marathon Digital’s hash rate target of 50 EH/s by the end of 2025 may be achieved a year sooner than expected, CEO says.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
p.s. all completely FREE (one click subscribe link)
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”)
Which newly launched Bitcoin ETF currently has the largest BTC holdings?(excluding Grayscale's GBTC) |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: A) BlackRock 🥳
BlackRock currently holds 274,000 BTC
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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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