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- 🥜 500k to 1 million
🥜 500k to 1 million
PLUS: GameStop pulls the trigger
GM to all of you nutcases. It’s Crypto Nutshell #631 stayin’ sharp… 🗡️🥜
We're the crypto newsletter that's more thrilling than fighting off an alien invasion with a laptop and pure chaos... 👽💻
What we’ve cooked up for you today…
🏦 They finally did it
💎 Bitcoin To $500k - $1,000,000
📉 Historical lows
💰 And more…
Prices as at 4:25am ET
THEY FINALLY DID IT 🏦
BREAKING: GameStop Buys $512M Worth of BTC For Bitcoin Treasury
We first reported it back in February:
GameStop was preparing to follow Strategy’s playbook and buy Bitcoin.
Outside of a $1.5B convertible note raise in April, there were no updates.
Until now…
On May 28, GameStop confirmed it had purchased 4,710 BTC, worth approximately $513 million, officially joining the growing list of public companies stacking sats.
Wait, What’s GameStop Again?
For those who missed the 2021 chaos:
GameStop is a U.S. video game retailer that became the face of the “meme stock” phenomenon after retail traders on Reddit launched a historic short squeeze.
(They even made a movie on it titled “Dumb Money”)
The stock’s volatility turned CEO Ryan Cohen into a cult figure, and in recent years, the company has worked to reinvent itself.
Now?
It’s pivoting into hard money.
Market Reaction: Mixed Signals
Despite the bold Bitcoin bet, GameStop stock dropped 10.85% on the day of the announcement.
Make no mistake though…
GameStop stock is still up ~13% in the past 30 days despite this drop.
Ryan Cohen Speaks at Bitcoin 2025
Speaking in Las Vegas at the Bitcoin 2025 conference, Cohen made it clear:
This isn’t a gimmick - it’s a long-term play on financial resilience.
“Bitcoin and gold can hedge against global currency devaluation and systemic risk… Bitcoin has certain unique advantages compared to gold. The portability aspect, it's instantly transferable across the globe, whereas gold is bulky and very expensive to ship, the authenticity is instantly verified via the blockchain. You can easily secure Bitcoin in a wallet, whereas gold requires insurance, and it is very expensive."
He also noted Bitcoin’s absolute scarcity - something gold can’t guarantee as tech advances unlock more supply - and pointed to BTC’s $2T market cap versus gold’s $20T:
“Gold is a more mature market. It is roughly around $20 trillion in market capitalization, whereas Bitcoin today is about $2 trillion.”
The Bigger Picture
With this purchase, GameStop now ranks #11 worldwide among public companies holding Bitcoin.
It’s no longer just a meme stock.
It’s part of the corporate Bitcoin revolution.
And if the Saylor playbook holds true, this could be the beginning of GameStop’s second act - this time, on a harder monetary standard. 🚀
The key to a $1.3T opportunity
A new real estate trend called co-ownership is revolutionizing a $1.3T market. Leading it? Pacaso. Led by former Zillow execs, they already have $110M+ in gross profits with 41% growth last year. They even reserved the Nasdaq ticker PCSO. But the real opportunity’s now. Until 5/29, you can invest for just $2.80/share.
This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC.
BITCOIN TO $500K TO $1 MILLION 💎
Bitcoin OG Adam Back just dropped a huuuge end of crycle call:
“I expect we’ll end the year much higher. We could reach $500,000 to $1 million during this cycle.”
And he’s not talking 10 years from now.
He means this cycle - right now.
Who Is Adam Back?
One of the earliest people contacted by Satoshi 🔐
Legendary cryptographer & creator of Hashcash (predecessor of Bitcoin) 🧠
CEO of Blockstream and widely considered a Bitcoin pioneer 🏗️
He’s been here since the beginning. When he speaks, Bitcoiners listen.
Why He’s So Bullish
In a new interview, Adam pointed to 2 major drivers:
This cycle is different.
He argues that last cycle’s weak post-halving performance was weighed down by macro headwinds:We’re nearing a tipping point.
Bitcoin adoption is following a classic S-curve - just like the internet & mobile phones.
Final Take
Adam’s not promising anything - but he knows what happens at the tipping point.
And if Bitcoin really is entering its exponential phase?
Then $500K to $1M isn’t hype. It’s math. 🧮
HISTORICAL LOWS 📉
Today we’ll be checking in on the amount of Ethereum available for sale on exchanges.
Here’s how to interpret this metric:
Decreasing exchange balances: Bullish indicator as it signals a shift towards long-term holding 🐂
Increasing exchange balances: Bearish indicator as coins being transferred to exchanges are more likely to be sold 🐻
According to Glassnode, just 16.6 million ETH remains on exchanges - that’s only 13.74% of the entire circulating supply.
In the last 90 days alone, 876,305 ETH (≈ $2.35B) has been pulled.
We haven’t seen exchange balances this low since 2016.
That’s wild.
It’s clear: holders aren’t selling - they’re stacking.
And with supply shrinking while demand heats up, order books are getting thinner by the day.
Historically, that’s a recipe for one thing:
Higher prices. 🚀
CRACKING CRYPTO 🥜
Texas lawmakers finalize details on Bitcoin reserve, removes staking ahead of final vote. Texas eyes a long-term Bitcoin reserve as legislators finalize SB 21 criteria and advisory structure, according to a Committee agreement.
BlackRock eyes 10% stake in Circle's IPO. BlackRock is planning to purchase roughly 10% of Circle's initial public offering, according to a new report.
U.S. Labor Department Picks Up Crypto Torch, Throws Out Previous Warnings. The agency had once called for retirement-plan officials to exercise "extreme care" over crypto investments, but it's now withdrawn that elevated concern.
Pakistan is setting up a 'government-lead' strategic Bitcoin reserve, Pakistan Crypto Council CEO Bilal Bin Saqib says. Pakistan is setting up a “government-lead” strategic Bitcoin reserve, Pakistan Crypto Council CEO Bilal Bin Saqib said at Bitcoin 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”)
What caused the collapse of TerraUSD (UST) in May 2022? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: De-pegging due to flaws in its algorithmic design 🥳
UST wasn’t backed by dollars - it relied on an algorithmic relationship with LUNA. When confidence broke, the system spiraled, wiping out $40+ billion in value. A brutal lesson in DeFi fragility.
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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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