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PLUS: MicroStrategy Copycats
Today’s edition is brought to you by RAREMINTS
GM to all 64,612 of you. Crypto Nutshell #340 rowin’ in... 🚣 🥜
We’re the crypto newsletter that’s more gripping than navigating life in the zombie apocalypse... 🧟♂️🚗
What we’ve cooked up for you today…
🤔 Here they come
💭 98% of people will miss this…
🔥 Three week’s straight
💰 And more…
MARKET WATCH ⚖️
Prices as at 5:35am ET
Only the top 20 coins measured by market cap feature in this section
HERE THEY COME 🏦
BREAKING: Semler Scientific shares up over 30% after adopting Bitcoin as treasury reserve
Here come the MicroStrategy copycats.
Nasdaq listed Semler Scientific ($SMLR) has announced Bitcoin as its primary treasury reserve asset.
According to a press release, Semler purchased 581 BTC for $40 million, at an average price of $68,850 per coin.
Eric Semler, Semler Scientific’s Chairman had this to say:
"Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment,"
Continuing on:
“Bitcoin is now a major asset class with more than $1 trillion of market value. 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. We also believe its digital, architectural resilience makes it preferable to gold.”
The press release also mentions that the SEC’s approval of the US Bitcoin ETFs was a driving factor in this decision.
And like Michael Saylor’s MicroStrategy, they studied all possible solutions on where to store their excess cash.
The conclusion they came to? 🤷♂️
Bitcoin is the best option:
"After studying various alternatives, we decided that holding bitcoin would be the best use of our excess cash."
Almost immediately after this announcement, Semler’s stock rocketed up over 30%.
The list of companies following in the footsteps of MicroStrategy is growing:
Block - committed to purchasing BTC every month
Japan’s Metaplanet - recently announced it will be purchasing another ¥250 million worth of BTC
Semler Scientific - purchased $40 million in BTC
Corporate adoption of Bitcoin is now here.
Who will be next? 🤔
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98% OF PEOPLE WILL MISS THIS… 💭
Millennials & Gen Z love to complain that older generations had the investment opportunity of a lifetime.
Real Estate. 🏠
Older generations were able to buy properties for just fractions of the prices they are today.
Mathematician Fred Krueger believes this is completely wrong.
The real opportunity of a lifetime is happening right now.
But 98% of people will miss it.
Fred Krueger is an extremely successful entrepreneur & investor.
On top of that, he has PHD in mathematics from Stanford.
(he’s a pretty smart guy)
In his latest interview, Krueger broke down why the opportunity of a lifetime was not real estate.
The real opportunity?
Bitcoin.
But the vast majority will completely miss it.
“You actually have an amazing opportunity right now. Now, 98% of people won’t take that opportunity. It’s just a fact. They’re going to do the wrong thing.”
Krueger has made tens of millions from both investing & building businesses.
His best advice on getting rich?
Do what the majority is not doing.
“You can always count on people to do the wrong thing. They’re going to follow the trend. They’re going to follow the herd. The herd says ‘buy the house, settle down’. You have to go the other way. If you want to get rich, if you want to do better than the average… you have to do something different than the average.”
As a mathematician, Fred has observed that Bitcoin is following a power-law.
This means, over the next 15 years, Fred expects Bitcoin to go up 64x.
“I would expect the next 15 years to resemble the last 15 years. If that’s the case, I would expect Bitcoin to go by 64x.”
That would put the price of 1 Bitcoin at ~$4.5 million dollars per coin.
The real opportunity of a lifetime. 💡
“Your best bet right now is to put all your eggs in Bitcoin. That’s your best bet. If I was 30? I’d have 100% of my net worth in Bitcoin.”
THREE WEEK’S STRAIGHT 🔥
Time for our weekly check in on digital asset fund flows. (globally, not just the US ETFs)
And for the third week in a row, digital asset funds saw inflows!
Last week’s inflows came in at $1.05 billion.
Which brings the year-to-date total to $14.91 billion, an all-time high.
And we’re not even halfway through the year yet…
Bitcoin was once again the focus, with $1.01 billion in inflows last week.
Short-Bitcoin also experienced another week of outflows totalling $4.3 million.
(looks like sentiment is shifting)
Ethereum also experienced significant inflows of $35.5 million. The largest amount of inflows we’ve seen since March.
Likely due to the approval of the Ethereum ETFs.
Solana and Litecoin also experienced notable inflows of $8.0m & $2.8m respectively.
Regionally, the inflows were dominated by the US which saw just over $1.03 billion in inflows.
Switzerland and Germany also saw inflows of $47.6m and $29.9m respectively.
Whereas Hong Kong, Sweden & Canada all experienced outflows of $28.6m, $24.7m & $8.3m respectively.
Once of the biggest reasons why we’re seeing huge weekly inflows again is due to Grayscale.
Grayscale’s outflows have cooled down significantly over the last two weeks.
With last weeks outflows coming in at only $15 million…
That’s a massive change from the multi hundred million dollar outflow days we’ve become used to.
Fingers crossed this inflow streak continues. 🔥
CRACKING CRYPTO 🥜
Court dismisses DEBT Box case without prejudice, imposes over $1.8 million in fines on SEC. Utah's district court ordered the SEC to pay fees in the controversial DEBT Box case on May 28.
BlackRock adds own Bitcoin ETF to income and bond funds. BlackRock’s Strategic Income Opportunities and Strategic Global Bond funds purchased shares of the company’s own Bitcoin ETF.
Bitcoin and Ether ETF Markets Expected to Grow to $450B. Crypto ETFs could see over $100 billion of inflows in the next two years, the report said.
American voters are becoming crypto investors, Grayscale survey posits. The Grayscale survey found that Americans are becoming crypto voters, which should come as no surprise to anyone active on Crypto Twitter.
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”)
What is the maximum amount of Ethereum that can ever exist? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) Infinite 🥳
Technically Ethereum has no supply cap, however due to its burn mechanism the supply has been depreciating at a rate of -0.189% per year.
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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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