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🥜 Don't Make This Mistake...
PLUS: Saylor buys again
GM to all you crypto nuts. Crypto Nutshell #487 singin’ in the rain… ☂️🥜
We're the crypto newsletter that's more intense than fighting for survival in a dystopian arena... 🏹🔥
What we’ve cooked up for you today…
🚀 All-time high again…
❌ The biggest mistake you’ll make in crypto
📈 Post election euphoria
💰 And more…
Prices as at 3:35am ET
ALL-TIME HIGH AGAIN… 🚀
BREAKING: MicroStrategy Buys Another 27,200 BTC for $2B; Bitcoin Profits Sit at $11B
Anyone else getting deja vu?
Bitcoin just keeps ripping up and setting new all-time highs…
In the last 24 hours Bitcoin shot up ~9.38%, setting a new high of $89,604.
By the time you’re reading this newsletter, chances are it’s already set another high…
Checkout the daily chart, it’s ridiculous:
But just when you think things couldn’t get any crazier…
Michael Saylor announced his latest smash buy of 27,200 Bitcoin for ~$2.03 billion. (~$74,463 average per BTC)
This latest purchase brings MicroStrategy’s holdings to 279,420 BTC. (~$24.7 billion at todays prices)
Saylor even teased this latest purchase on Nov 9, posting the following to X:
Funnily enough, this latest purchase has already resulted in ~$385 million in profit for MicroStrategy.
Has Saylor discovered a real life infinite money glitch?
And with Bitcoin’s recent price appreciation, here’s an interesting stat for you…
Bitcoin has overtaken Silver as the 8th largest asset in the world measured by market cap.
However, gold is still a 10x away…
That also begs the question…
How high will Bitcoin go this year?
Could it surpass $100,000 by the end of 2024?
Well, according to Polymarket, there’s a 61% chance that Bitcoin hits $100,000 in 2024.
But we want to hear from you guys…
Do you think Bitcoin will hit $100,000 by the end of 2024?
Let us know your thoughts below. 👇️
Will Bitcoin hit $100,000 by the end of 2024? |
Out-Perform Bitcoin For Less Than $2 A Day 🚀
Since launching the Crypto Nutshell Portfolio (September 18th):
Bitcoin has climbed +46.81%
Our portfolio? Up a massive +107.17% - outperforming Bitcoin by over 2.3x!
Whilst we don’t claim to know the future, we do know that:
This phase of the bull run is where altcoins make big moves & drastically outperform.
To celebrate Bitcoin’s new highs and our portfolio’s ridiculous growth (doubling in under 2 months!), we’re opening up another 20 spots to Crypto Nutshell Pro.
Stop doing it alone - eliminate the guesswork this bull run and start outperforming Bitcoin today.
If you want exclusive altcoin coverage, top-tier buy recommendations, and want to outperform Bitcoin, now’s your chance!
First in, first served. (Crypto Nutshell has 60,000+ daily readers, you do the math)
THE BIGGEST MISTAKE YOU’LL MAKE ❌
There’s a mistake in crypto that practically everyone makes.
Avoid it, and you’ll crush this bull run.
That’s the latest message out from Raoul Pal.
Raoul Pal is a macroeconomic expert with one of the best track records in the space.
Raoul first invested in Bitcoin way back in 2013, so when it comes to crypto, he’s seen it all.
In his latest update, he gave a timely reminder to investors:
“The hardest thing in a bull market is doing absolutely nothing. Compounding takes time, while mistakes from FOMO over-trading come easy.”
The biggest mistake almost everyone makes in crypto is over-trading. Chasing pumps & narratives and making too many moves.
Most of the time, once you’ve got your positions, the best thing you can do is nothing.
This message was echoed by on-chain analyst Will Clemente:
Wise words to keep in mind:
“It’s a bull market. It’s not about how much you make, it’s about how much you keep.”
As much fun as the next couple months are going to be, don’t lose your mind out there. 🫡
POST ELECTION EUPHORIA 📈
The inflow streak is now up to five!
Last week Digital asset funds saw $1.98 billion in net inflows!
Year-to-date inflows also set a new record of $31.3 billion.
Recent price appreciation has also seen global assets under management hit a record high of $116 billion.
Annnnddddd…
As always, Bitcoin was the focus with $1.796 billion in inflows for the week.
But…
Ethereum also had an impressive week, with inflows of $157 million.
This is Ethereum’s largest weekly inflow since the ETF launches in July of this year.
Sounds like investors were waiting on the US election results before going in on ETH…
The United States saw the majority of the inflows with $1.954 billion for the week.
Switzerland and Germany also saw inflows of $23.2m and $20.1m respectively.
Whilst Sweden, Canada and Hong Kong experienced outflows of $25.7m, $1.7m and $0.8m respectively.
Last week was a bit of an odd one…
The Bitcoin ETFs started the week with outflows of $657.9 million. (Monday and Tuesday)
But then after the US election they turned up the heat with combined inflows of $2.29 billion for the rest of the week.
Since the Fed began cutting interest rates in September, the Bitcoin ETFs have experienced net inflows of ~$9 billion.
A monetary easing cycle combined with the Trump admins pro-crypto stance is the perfect storm… ⛈️
CRACKING CRYPTO 🥜
Andreessen Horowitz (a16z) calls Donald Trump reelection 'significant' for US crypto industry. a16z anticipates bipartisan collaboration and new avenues for US-led crypto innovation under Trump's reelection.
Why Bitcoin's Record Price Rally May Be Choked Between $90K and $100K? As bitcoin's ongoing price surge gives off an aura of invincibility, one force threatens to slow the ascent above $90,000.
FTX bankruptcy estate files $1.8B lawsuit against Binance, CZ. The FTX estate argued that Sam Bankman-Fried’s $1.75 billion repurchase deal with Binance in July 2021 was a fraudulent transfer because of FTX’s insolvency.
Coinbase shares close at highest level since November 2021 amid post-election optimism. Coinbase’s stock is up 75% over the past five trading days following the U.S. presidential election.
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) - Twice weekly Bitcoin news
Crypto Pragmatist (link) - Actionable alpha 3x a week
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 was Bitcoin's initial block reward? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: B) 50 Bitcoin 🥳
Bitcoins initial block reward was 50 Bitcoin.
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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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