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PLUS: Saylor can't stop
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GM to all you crypto nuts. Crypto Nutshell #497 doin’ some shopping… 🛒 🥜
We're the crypto newsletter that's more epic than a journey to save the galaxy from a tyrant with a golden gauntlet... 🌌🧤
What we’ve cooked up for you today…
🏦 Three weeks in a row
🔮 5 Predictions for this cycle
📈 New record
💰 And more…
Prices as at 2:40am ET
THREE WEEKS IN A ROW 🏦
BREAKING: MicroStrategy acquires another 55,500 bitcoin for $5.4 billion, taking holdings to 386,700 BTC
Michael Saylor has purchased more Bitcoin AGAIN…
This time, MicroStrategy acquired 55,000 Bitcoin for ~$5.4 billion. (Average of ~$97,862 per Bitcoin)
This latest purchase brings MicroStrategy’s total holdings to 386,700 Bitcoin which was acquired for ~$21.9 billion. (Average of ~$56,761 per Bitcoin)
(By the way, this is also MicroStrategy’s largest acquisition to date)
But here’s the thing…
At today’s prices, MicroStrategy’s Bitcoin holdings are worth ~$36.48 billion.
That’s an unrealized profit of ~$14.58 billion.
The crazy part is that this is the third week in a row MicroStrategy has purchased Bitcoin.
The previous two buys being:
November 17: 51,780 Bitcoin for ~$4.6 billion
November 10: 27,200 Bitcoin for ~$2.03 billion
And just like the previous 2 weeks, Saylor even teased this latest purchase:
But that’s not all…
Semsler Scientific also just announced that they purchased an additional 297 Bitcoin for ~$29.1 million.
This brings their total holdings to 1,570 Bitcoin, which was acquired for ~$117.8 million. (Average of $75,039 per Bitcoin)
Which means they’re sitting on unrealized profits of ~$29.85 million.
So you’re probably wondering:
With all of this institutional buying coming from the Bitcoin ETFs and corporations like MicroStrategy…
Why is Bitcoin going down?
Well…
In short, we’re currently seeing record levels of profit taking from long-term holders.
And the Bitcoin ETFs have absorbed roughly 90% of this sell-side pressure.
So without them, prices would likely be much lower…
(We broke this down in yesterday’s newsletter, you can check that article out here.)
But wait!
Live streaming giant Rumble just announced that they plan on purchasing $20 million worth of Bitcoin.
Rumble’s stock is up ~12.63% since this news broke.
And in case you didn’t know, Rumble currently has a market cap of ~$2.07 billion…
Publicly traded companies are finally waking up to the success that MicroStrategy has shown.
Who will be next? 👀
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5 PREDICTIONS FOR THIS CYCLE 🔮
Bitcoin will hit $300,000 within 4 years.
But expect a -50% crash along the way.
These are just some of the predictions out from mathematician Fred Krueger.
If you haven’t heard of him, here’s why we like Fred Krueger:
Worked on Wall Street for 10+ years 💼
Extremely successful entrepreneur - has exited 10 companies, with some exits in the tens of millions 💰
Studied mathematics, with a P.H.D from Stanford University 📚
This week, Fred dropped 5 predictions for this current Bitcoin cycle.
Let’s break them down:
1. Bitcoin Power Law Won’t Break
The Bitcoin Power Law Model (in a nutshell) is a pricing model that was discovered by Italian astrophysicist, Giovanni Santostassi.
In 2019, Giovanni discovered that by plotting Bitcoin’s price & time in log scale, you see a very clear relationship:
So far, the Bitcoin Power Law Model has been the most accurate Bitcoin pricing model ever made.
Krueger predicts this won’t change over the next 4 years.
The model predicts we’ll see a $300,000+ Bitcoin by 2028.
2. MicroStrategy Will Stop At 500,000 Bitcoin
Michael Saylor & MicroStrategy are buying up Bitcoin as fast as they can.
Krueger believes by the time they accumulate 500,000 Bitcoin, prices will be so high, they can’t buy much more:
“MSTR will deploy $100 Billion, but the next 300K BTC will be much, much more expensive”
3. We Will Have A -50% Bear Market
Krueger also thinks we are still going to have a sharp bear market.
However, it won’t be in 2026, like most expect:
“There will be a bear market of -50% sometime in the next 3 years. But perhaps not in 2026. I remain a believer in some form of a ‘super-cycle’.”
4. Main Buyers Will Be Bitcoin ETFs
Over our current cycle, BlackRock and Fidelity's Bitcoin ETFs will be the key drivers of growth.
In just their first year, the Bitcoin ETFs have bought up over 5.15% of the total Bitcoin supply.
What will they do over the next 10 years? 🤯
5. Bitcoin Lending Will Become A Serious Business
Krueger predicts that Bitcoin lending will take off this cycle.
Just like borrowing against a mortgage, banks will enable borrowing against your Bitcoin.
Over his career, Krueger has been right much more often than he is wrong.
Let’s hope he’s right about a $300,000+ Bitcoin by 2028. 🥂
NEW RECORD 📈
The streak is now up to an impressive seven!
Last week Digital asset funds saw a huge $3.124 billion in net inflows.
That’s the largest weekly inflow we’ve ever seen!
And it also brings year-to-date inflows to a new record of $37 billion.
Once again, Bitcoin saw the majority of inflows with $3.078 billion coming in for the week.
Surprisingly, Solana and XRP both had impressive weeks with inflows of $16.2m and $15.2m respectively.
As a result, they both massively outpaced Ethereum which “only” saw inflows of $2.8 million for the week…
The United States saw crazy inflows of $3.208 billion last week.
Canada, Hong Kong and Australia also saw net inflows of $30.9m, $29.9m and $9.0m respectively.
Whilst Sweden, Germany and Switzerland experienced outflows of $84.1m, $39.8m and $12.5m respectively.
Here’s a wild stat for you…
Total inflows since interest rates were first cut (mid-Sept) now stand at $15.2 billion.
That’s ~41% of yearly flows taking place in a 2 month period…
And the markets are still expecting another rate cut to come in December.
We told you a wave of “cheap” capital would be coming, and here it is…
CRACKING CRYPTO 🥜
Solana memecoins turn to NSFW content as Pump Fun livestreams resemble adult webcam site. Currently, someone is livestreaming from the toilet for a memecoin worth over $1 million.
Trump's Sluggish DeFi Project Gets a Big Boost From Justin Sun's $30M Token Purchase. Sun's investment, best known for creating the TRON blockchain, comes after World Liberty Financial saw slow initial sales of its WLFI token.
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 does the term “HODL” mean in cryptocurrency slang? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: C) Hold on for Dear Life 🥳
The term “HODL” originated from a misspelling of the word "hold" in a post on the Bitcoin Forum in 2013. Some traders have retroactively redefined HODL to mean “hold on [for] dear life”.
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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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