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- 🥜 Bitcoin will hit this in 2025
🥜 Bitcoin will hit this in 2025
PLUS: MicroStrategy copycat
Today’s edition is brought to you by Incogni.
GM to all 64,612 of you. Crypto Nutshell #349 whirlin’ by... 🌪️🥜
We’re the crypto newsletter that’s more suspenseful than uncovering a conspiracy in a dystopian future... 🔍🏙️
What we’ve cooked up for you today…
🏦 Here they come
🎯 Bitcoin 2025 price target
⚖️ Exchange balances
💰 And more…
MARKET WATCH ⚖️
Prices as at 6:10am ET
Only the top 20 coins measured by market cap feature in this section
HERE THEY COME 🏦
BREAKING: Semler Scientific now holds 828 Bitcoin and has $150M plan to buy more
Last week Nasdaq listed Semler Scientific announced it would be making Bitcoin its primary treasury reserve asset.
In their initial press release, it was revealed that they had purchased 581 Bitcoin.
Keep in mind - they aren’t a Bitcoin or crypto company. They’re a medical device maker.
Now, they’ve done it again…
In an S-3 filing with the SEC, Semler now hold 828 Bitcoin which they purchased for $57 million.
“We view bitcoin as a reliable store of value and a compelling investment. We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability.”
At current market prices their Bitcoin holdings are worth $59 million.
A neat $2 million ‘profit’ to kick things off.
"Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin."
But it doesn’t stop there…
Semler also announced plans to raise an additional $150 million of debt securities.
With a portion of that being used to buy more Bitcoin.
“We intend to use the net proceeds from the sale of any securities offered under this prospectus primarily for general corporate purposes, including the acquisition of bitcoin,”
This recent Bitcoin purchase puts Semler firmly in 20th position out of publicly traded company holdings.
(Most of which are Bitcoin related companies)
Are you ready for the institutional era of Bitcoin?
Expect to see more companies like Semler follow in MicroStrategy’s footsteps.
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BITCOIN 2025 PRICE TARGET 🎯
PlanB is back and he just dropped TWO mega bullish Bitcoin predictions.
For those of you who don’t know PlanB, he is arguably the most famous on-chain Bitcoin analyst.
With over 1.9 million followers on Twitter, he is most well known for his Stock-to-Flow model and spookily accurate price predictions.
Let’s break down some of the highlights from his latest market update.
Bitcoin to hit $500,000 by next year
PlanB’s first prediction is based on his famous stock-to-flow model.
Last cycle, the model called for a $50,000 Bitcoin (which happened, obviously)
This cycle, the model is predicting Bitcoin will hit $500,000.
And the cycle after that, we can expect to hit $4,000,000.
Here’s how PlanB explains it:
“The price of Bitcoin shows a little bit of a lag, but eventually it catches up with the model value. And that is exactly what happened the last three halvings and what I expect will be happening next year.”
Bitcoin Will Never Drop Below This Price Ever Again
This next prediction is based on Bitcoin’s realized price.
Realized price is the value of all Bitcoins at the price they were last moved divided by the circulating supply.
🔴 Bitcoin’s current price: $71,000
⚫️ Realized price: $30,000
🔵 2-year realized price: $47,000
(cyan) 5-month realized price: $64,000
During a bull market, Bitcoin’s price is above all of these realized price variations.
Here’s the crazy part though.
Bitcoin’s 5-month realized price acts as a support level for bull market dips.
Meaning bull market dips will often touch this line but never break through it.
“To make an aggressive prediction… I don’t think we will see Bitcoin below $64,000 again.”
Keep in mind, when PlanB makes predictions like these, he’s talking about Bitcoin’s monthly close price.
Those are definitely some bullish predictions…
But, what do you think?
Will Bitcoin hit $500,000 this cycle? 🤔
EXCHANGE BALANCES ⚖️
Today we’ll be taking a look at the amount of Bitcoin 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 🐻
Currently there is only 2,314,416 Bitcoin available for sale on exchanges.
That’s ~11.74% of the entire circulating supply.
This metric is super simple:
Less Bitcoin on exchanges = Less Bitcoin available for sale
There just isn’t that much BTC available for sale. And it’s decreasing every single week.
Bitcoin investors have begun to realise 1 thing.
On a long enough timeline, the price of Bitcoin is inevitably going upwards.
And soon, there won’t be any Bitcoin left to buy… 🚀
CRACKING CRYPTO 🥜
Robinhood's $200 million Bitstamp acquisition aims to expand global crypto footprint. The acquisition will strengthen Robinhood's position in the crypto market and help navigate regulatory hurdles in the US and abroad.
Why isn’t the BTC price moving despite billions in ETF inflows? ETF inflows are significant, but Bitcoin’s price is held back by selling from long-term holders and overall market conditions.
Bitcoin’s Latest Rally To $71K Is Different From the March Breakout. Here's Why. The latest breakout is characterized by lack of speculative froth as opposite to March and positive macroeconomic details.
F1 Team McLaren Reveals Free Ethereum NFTs With OKX. McLaren and F1 team sponsor OKX are launching free NFTs on the Ethereum network X Layer with potential VIP prizes up for grabs.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
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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”)
Which public company currently holds the most Bitcoin? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) MicroStrategy 🥳
MicroStrategy currently holds 214,400 Bitcoin, the most of any public company by far.
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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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