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🥜 Bitcoin vs Real Estate
PLUS: MicroStrategy loads up
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GM to all 64,612 of you. Crypto Nutshell #357 goin’ all in... 🎰 🥜
We’re the crypto newsletter that’s more gripping than survival in a world taken over by creatures... 👾🎙️
What we’ve cooked up for you today…
🏦 Maximum conviction
🏡 Bitcoin vs real estate
📈 Wallet check
💰 And more…
MARKET WATCH ⚖️
Prices as at 6:40am ET
Only the top 20 coins measured by market cap feature in this section
MAXIMUM CONVICTION 🏦
BREAKING: MicroStrategy Increases Convertible Note Offering by 40% to $700M in Bitcoin Splurge
This is what maximum conviction looks like.
MicroStrategy increased its convertible senior notes offering from an initially planned $500 million to $700 million.
The notes will pay 2.25% interest per year and are due in 2032.
MicroStrategy just can’t stop buying Bitcoin:
“MicroStrategy today announced the pricing of its offering of $700 million aggregate principal amount… MicroStrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoin and for general corporate purposes.”
MicroStrategy currently holds 214,400 Bitcoin.
That’s over 1% of the maximum supply…
Putting them firmly in the number one spot for public companies that hold Bitcoin.
Off the back of this news, brokerage firm Bernstein made a prediction for MicroStrategy’s stock.
The firm assigned it an outperformance rating with a price target of $2,890.
The shares closed at around $1,495 on Friday.
Michael Saylor continues to prove to everyone that he is Bitcoin’s number one HODLer.
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BITCOIN VS REAL ESTATE 🏡
Bitcoin is going to $1 million over the next 10 years.
So why would you invest in real estate?
That’s the latest out from Fred Krueger.
Fred Krueger is a very successful entrepreneur & investor.
In his latest interview, Krueger made it very clear why Bitcoin is the better investment over real estate.
But first, Fred broke down where he sees Bitcoin going over the next 20 years.
“I think most of the gains on Bitcoin are going to happen over the next 20 years.”
Krueger then gave some rough price targets:
“We get to $1 million a coin within 10 years. I think we get to $10 million a coin within 20 years.”
If Bitcoin were to reach $1 million per coin in 10 years, that would put the market cap at ~$20.87 trillion.
And at $10 million a coin, the market cap would be ~$209.96 trillion.
(these calculations account for new Bitcoin entering the supply over 20 years)
With these numbers in mind, Krueger has a very simple take on Bitcoin vs Real Estate:
“Bitcoin will outperform real estate by quite a wide range.”
And for people that are looking at buying their first house, this is what Krueger has to say:
“If I were you, I might just wait a little bit. I would say a smarter idea would be to rent and put some money in Bitcoin for 4 or 5 years.”
Now let’s take a look at some charts to see if Bitcoin really is better than real estate…
(spoiler alert, it is)
The chart below shows how much Bitcoin (orange) is required to purchase an average home in the United States.
Notice how the amount of Bitcoin required has always been trending downwards.
United States Average House Price in Fiat (Green) and BTC (orange)
And it’s the exact same story in the United Kingdom.
United Kingdom Average House Price in Fiat (Green) and BTC (orange)
The trend is clear.
Over the last 15 years, Bitcoin has been the superior long-term investment compared to real estate.
Will that trend continue? 🤷♂️
Fred seems to think so and so do we.
WALLET CHECK 📈
Today we’ll be taking a look at the number of addresses with a non-zero balance.
It provides a high level overview of the Bitcoin network’s user base/activity.
Keep in mind though, one wallet does not equal one user. A user can have many wallets.
What matters here is the trend of the chart.
Increasing number of addresses: increasing adoption levels 📈
Decreasing number of addresses: indicates users are selling their entire balance or consolidating wallets 📉
And notice how this chart has always been trending upwards?
A clear sign that the Bitcoin Network has expanded every single year.
As of today there are 53,108,054 addresses with a positive balance.
Two weeks ago this metric was at 52,708,344 wallets.
That’s an increase of +399,710 wallets. 😱
An absolutely MASSIVE increase.
Simple takeaway from this data:
Bitcoin adoption continues to grow, and 2024 marks the start of the ‘institutional era’.
15 years into its existence and the network is still expanding every single year.
Bullish. 🐂
CRACKING CRYPTO 🥜
Michael Saylor's 21 Rules for Bitcoin calls Bitcoin 'Chaos' and an 'economic virus'. In his keynote at BTC Prague, MicroStrategy CEO Michael Saylor articulated a vision of Bitcoin as the world’s first perfect money.
Australian securities exchange approves its first spot Bitcoin ETF. The VanEck Bitcoin ETF will be the first spot Bitcoin ETF to be listed on the Australian Securities Exchange, the country's largest stock exchange.
Bitcoin Plunges to $65K, Altcoins Bleed 10%-20% as Week Turns Ugly. Some $180 million of leveraged derivatives positions were liquidated across all crypto assets during the shake-out, CoinGlass data shows.
Bitcoin Price Will Hit $200,000 in 2025, MicroStrategy Will Outperform: Bernstein. The global investment firm Bernstein estimated Bitcoin will hit $200,000 by 2025, revising its price target from $150,000 in March.
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 BTC 🥳
On May 22nd, 2010 Laszlo Hanyecz, a programmer, famously purchased two pizzas for 10,000 bitcoins.
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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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