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- 🥜 Bitcoin To $10 million
🥜 Bitcoin To $10 million
PLUS: The SEC finally did it
Together with
GM to all of you nutcases. It’s Crypto Nutshell #675 tunin’ in… 📻🥜
We're the crypto newsletter that's more nerve-wracking than piloting a mech in a last-stand battle against interdimensional monsters... 🛡️🐉
What we’ve cooked up for you today…
🏦 It finally happened
💣 $10M Bitcoin? Fred just went nuclear
🤯 Another all-time high
💰 And more…
Prices as at 3:35am ET
IT FINALLY HAPPENED 🏦
BREAKING: SEC Approves In-Kind Redemptions for All Spot Bitcoin and Ethereum ETFs
Here’s some good news for crypto ETFs.
The SEC has officially approved in-kind redemptions for all spot Bitcoin and Ethereum ETFs.
Translation? 🤨
Wall Street no longer has to settle for cash.
Now, authorised participants - typically major institutions - can swap ETF shares directly for real BTC or ETH.
No forced selling. No fiat conversions. Just pure, seamless crypto flow.
It’s the upgrade BlackRock, Fidelity, Ark, and others have been chasing since launch - and under new SEC Chair Paul Atkins, the door has finally swung open.
"“It’s a new day at the SEC… A key priority of my chairmanship is developing a fit-for-purpose regulatory framework for crypto asset markets… I am pleased the Commission approved these orders permitting in-kind creations and redemptions for a host of crypto asset ETPs. Investors will benefit from these approvals, as they will make these products less costly and more efficient."
This isn’t a minor policy tweak. It’s a game-changer.
It means crypto ETFs are now treated like traditional ETFs - bringing lower costs, more efficiency, and far more flexibility for institutional players.
And the timing couldn’t be better…
July already shattered records with $11.2 billion in ETF inflows. This rule change could send that even higher.
Add in raised options limits on funds like BlackRock’s IBIT - and institutions just got an even bigger playground.
The bottom line?
For the first time ever, TradFi giants can move in and out of Bitcoin positions without touching fiat.
It’s faster. Cheaper. Smarter.
And it signals one thing loud and clear:
The institutions aren’t just coming.
They’re already here. 🧠💥
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From market-moving developments to deep dives on business trends, The Daily Upside gives leaders clarity on what matters — without the noise.
That’s why over 1 million readers, including C-suite executives and senior decision-makers, start their day with it.
No fluff. No spin. Just business clarity.
$10M BITCOIN? FRED JUST WENT NUCLEAR 💣
Mathematician Fred Krueger isn’t playing small.
After calling for a $200K Bitcoin this year, he’s now dropped his long-term target:
$10 million per Bitcoin.
Not a typo. $10 million per Bitcoin.
Fred's vision?
A future where Bitcoin becomes the dominant store of value on Earth.
And the math is more grounded than you think…
His Thesis 🔍
Here’s Fred’s 20-year Bitcoin projection:
$10M per coin → ~$200 trillion total market cap
That’s 5x bigger than gold
Worth more than any currency, stock, or bond market
Makes Bitcoin 50% of global M2 money supply (~$400T)
This isn’t just about price targets.
It’s about Bitcoin eating the world.
The Wealth Shift 🧠
Fred paints a brutal generational picture:
“Boomers were hated by Millennials for buying cheap houses. But that’ll be nothing compared to how Gen Z feels about Millennials who bought cheap Bitcoin.”
We agree with Fred.
If he's right?
The greatest wealth transfer in all of human history is still ahead.
And we’re still early. 👀
ANOTHER ALL-TIME HIGH 🤯
Today we’ll be taking a look the overall stablecoin supply.
Stablecoins are the backbone of crypto liquidity, used for seamless trading and instant cross-border transactions.
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 🐻
Two weeks ago, the total stablecoin supply sat at $227.11 billion.
Today?
It’s surged to $231.78 billion - a $4.67 billion jump in just 14 days.
And earlier this week, it briefly touched a new all-time high of $232.18 billion!
That’s a $46.74 billion increase since January 1st. 🤯
Let that sink in…
So why does it matter?
Because stablecoins aren’t just digital dollars - they’re dry powder.
This is fresh capital parked on-chain, ready to move.
And historically, stablecoin expansions don’t follow price.
They lead it.
They don’t chase rallies — they ignite them. 🔥
CRACKING CRYPTO 🥜
BitMine says Ethereum 'implied value' is $60,000 amid race to own 5% of total ETH supply. BitMine's aggressive Ethereum strategy underlines their belief in ETH's pivotal role in institutional systems.
Strategy buys 21K Bitcoin with 2025’s biggest public offering. Strategy, the largest corporate holder of Bitcoin, said it purchased over 21,000 Bitcoin after raising $2.5 billion from its preferred stock offering, STRC.
New Lummis Bill Would Back Effort to Ensure Crypto Assets Can Justify U.S. Mortgages. U.S. Senator Cynthia Lummis introduced another crypto bill, this one meant to reinforce an effort underway to allow use of digital assets in mortgage underwriting.
Crypto industry braces for incoming White House 'regulatory Bible' on rules, bitcoin reserve, and taxes. The White House is slated to release a report Wednesday that's expected to reveal details on how federal officials view cryptocurrency.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
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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”)
Which exchange was headquartered in the Bahamas and collapsed in 2022 due to massive fraud? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: FTX 🥳
FTX, led by Sam Bankman-Fried, was once a top global exchange - until its sudden implosion revealed billions in missing customer funds. A turning point in crypto history. 🧨📉
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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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