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🥜 A Simple Choice
PLUS: Ethereum and XRP pop off
Today’s edition is brought to you by RAREMINTS
GM to all you crypto nuts. Crypto Nutshell #501 walkin’ the plank… 🏴☠️🥜
We're the crypto newsletter that's more ingenious than Kevin McCallister's traps for unwelcome intruders... 🏠🎄
What we’ve cooked up for you today…
💪 Ethereum steps up
☠️ A simple choice…
🕯️ Look at the size of that candle
💰 And more…
Prices as at 2:05am ET
ETHEREUM STEPS UP 💪
BREAKING: U.S. spot Ethereum ETFs log all-time high daily inflows as price rally continues
Last Friday, the Ethereum ETFs logged their largest single-day inflow since launching in July.
Combined, they saw net inflows of $332.9 million!
Here’s the crazy thing though…
For the first time ever, Ethereum ETF inflows were GREATER than Bitcoin ETF inflows ($320 million).
That’s a massive milestone for the ETH ETFs.
Interestingly, only 3 funds saw inflows on the day:
BlackRock ETHA: $250.4 million 🥇
Fidelity FETH: $79.1 million 🥈
Grayscale ETH: $3.4 million 🥉
All other funds saw no inflows or outflows.
This record inflow follows Ethereum’s crazy price performance over the past month, which has seen gains of ~47.56%. (These ETFs are targeted at investors who are used to traditional financial markets, gains of +40% in a month are absurd to them)
With Ethereum's recent price performance, the funds now hold $11.04 billion in Ethereum. (That’s an all-time high)
Here’s the leaderboard:
Grayscale ETHE: $5.37 billion 🥇
BlackRock ETHA: $2.50 billion 🥈
Grayscale ETH: $1.54 billion 🥉
Fidelity FETH: $952.33 milllion
Quick note: Grayscale’s ETHE converted from a trust to an ETF with ~$9.2 billion in assets.
It’s finally looking like it’s Ethereum’s time to shine.
But that’s not all we want to talk about this morning…
Something insane happened in the crypto markets overnight.
XRP flipped Solana, making it the 4th largest cryptocurrency!
Everyone’s been talking about Solana flipping Ethereum…
But they forgot to check on XRP…
XRP’s monthly chart is also absolutely ridiculous.
Over the past month, XRP has seen gains of ~350.44% 🤯
Congratulations to all you XRP holders out there. 🥳
So why has XRP been crushing it lately?
Well the biggest reason is SEC Chair Gary Gensler’s resignation.
For those of you who don’t know, Ripple (The company behind XRP) has been in a long-standing legal battle with the SEC since 2020.
The SEC accused Ripple of raising $1.3 billion through the sale of unregistered securities (XRP).
With Gensler leaving, many are expecting this lawsuit to be dropped.
And then there’s also the added benefit of potential XRP ETF launches down the line.
Will XRP remain above SOL for the long-term?
We don’t think so…
Once memecoin season picks up again, we’re expecting SOL to swiftly overtake XRP.
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A SIMPLE CHOICE… ☠️
Michael Saylor just made history.
He just presented to Microsoft’s CEO and shareholders, arguing why Bitcoin should become their treasury asset.
The essence of Saylor’s pitch?
Microsoft have a simple choice:
Adopt Bitcoin or die. ☠️
Saylor was only given a mere 191 seconds to present in which he blitzed through 58 slides.
(If you have a spare 3 minutes - check out the full presentation here.)
Within Saylor’s pitch, he made 4 main points:
1. Bitcoin Is The Future
Here’s how Saylor kicked off his pitch:
“Microsoft can’t afford to miss the next technology wave.”
That next wave is Bitcoin.
2. The Numbers Don’t Lie
Bitcoin outperforms bonds, stock buybacks, and most of all, cash.
Bitcoin is going from being worth trillions to hundreds of trillions of dollars.
Microsoft currently holds ~$80 billion in cash. Bitcoin is an easy way to turn this depreciating asset into an appreciating one.
3. Bitcoin’s Momentum Is Growing
The tide is turning:
Public support for Bitcoin is surging. 🌐
Wall Street is now backing it. 💼
Even the next President of the United States has said: “Never sell your Bitcoin.” 🇺🇸
Saylor said 2025 is: “Year 1 of the Crypto Renaissance.”
4. Innovate Or Die
Saylor didn’t mince words:
Stick with traditional assets, and you’ll lose billions.
Adopt Bitcoin, and you’ll accelerate growth while reducing risk.
By adopting Bitcoin Microsoft could add hundreds of dollars to its stock price by converting dividends, buybacks, and cash flow into Bitcoin.
Final Mic Drop
Saylor closed with a challenge:
“Do the right thing for the world and adopt Bitcoin.”
Saylor gave it his all, but will Microsoft take the plunge?
We’ll find out next week on December 10th.
That’s when Microsoft's shareholders vote to decide whether the company should add Bitcoin to its balance sheet.
Right now, betting markets aren’t so confident Microsoft will buy:
But… there’s a chance. 🎲.
LOOK AT THE SIZE OF THAT CANDLE 🕯️
Here’s a fun fact for you…
Bitcoin just made history, setting its largest ever monthly candle at $26,400.
Just look at the size of it in the chart below:
November’s monthly close came in at ~$96,400. (Also a new record)
And Bitcoin finished up the month with gains of ~37.29%.
Which makes November the second best month of 2024, the first being February with gains of ~43.55%.
So what can we expect to see in December?
Well according to data from Coinglass, December returns ~5.11% on average.
But that’s not the full story…
Remember this is an election year we’re talking about here… (And halving year)
And Bitcoin has typically surged in any December following the US Presidential elections:
2016: +30.8%
2020: +46.92%
If history were to repeat itself, and we see monthly gains somewhere in this range…
Bitcoin could reach as high as $140,000 before the end of 2024.
But is that just wishful thinking? 🤷♂️
We want to hear from you.
Where do you see Bitcoin ending 2024?
Let us know your thoughts in the poll below. 👇️
Where do you think Bitcoin's price will close at the end of 2024? |
CRACKING CRYPTO 🥜
Pump Fun’s livestreaming halt causes 33% dip in revenue. The recent fallout highlights high stakes in memecoin market race as Pump.Fun faces image crisis amid controversies.
XRP Tops $100B Market Cap, Reaches 2018 Levels, as Ripple’s RLUSD Close to Approval. The surge brought 7-day gains to 30%, outperforming bitcoin (BTC) and other majors.
NFTs hit $562M in monthly sales volumes, recording six-month high. NFTs had a monthly sales volume of over $562 million in November, surpassing October’s record of $356 million.
Could there be a Dogecoin ETF in 2025? 'Today's satire is tomorrow's ETF' says expert. President-elect Donald Trump has championed himself as a pro-crypto leader, hoping to make America the “bitcoin capital of the world.”
WHAT WE’RE READING 📚
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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”)
The first commercial bitcoin transaction was for a pizza worth ___ BTC? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: A) 10,000 🥳
On May 22, 2010, the first known commercial transaction using bitcoin occurred when programmer Laszlo Hanyecz bought two Papa John's pizzas for 10,000 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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