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- 🥜 Easiest way to make $200,000 in crypto
🥜 Easiest way to make $200,000 in crypto
PLUS: You're still early
GM to all 18,911 of you. Crypto Nutshell #143 stompin’ thru’. 🦕 🥜
Today we’re shouting out loyal Crypto Nutshell reader Don from good ol’ United States! 🇺🇸 🦅 Don beat cancer - congratulations, we salute you! 🫡
🤑 Easiest way to make $200,000
🌅 You’re still early…
📉 Bitcoin’s shrinking supply
💰 And more…
MARKET WATCH ⚖️
Prices as at 4:25am ET
Only the top 20 coins measured by market cap feature in this section
EASIEST WAY TO MAKE $200,000 🤑
Breaking: Rock JPEGs on Bitcoin and Ethereum sell for over $100K
Here’s some insane news to start your Monday morning.
An NFT from the EtherRocks collection was recently purchased for 100 ETH, or just over $205,000. 🤑
A few hours earlier, an Ordinal from the Bitcoin Rock collection sold for 2.99 BTC, or just over $110,000.
Keep in mind these are literally just JPEGs of identical rocks. There’s no exclusive membership, perks or any other incentive. They are just pictures gray boulders.
If you don’t believe us, click here to view the absolutely absurd sale of EtherRock #95
Some believe that the sale of obscenely expensive JPEGs are a sign of the bull market returning.
Two days ago we broke down a recent uptick in NFT trading volume. This spike in volume was directly responsible for Ethereum’s return to a deflationary state.
But despite this recent activity, NFTs have a LONG way to go before they’re back to 2021/22 bull run levels.
Hate it or love it, NFTs may be making a comeback…
Could selling a JPEG of a gray boulder be the easiest way to make $200,000 in history? 🤔
Interested in reading more? Click here.
TOGETHER WITH WE STUDY MARKETS 🤑
In other news, let’s be real for a second…
Investing is f*cking hard.
It’s difficult to keep up with everything going on in markets and what’s happening in the macro.
That’s why we read We Study Markets
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YOU’RE STILL EARLY 🌅
Imagine there was a way you could own a ‘share’ of the internet.
The internet was invented in 1983.
Would it have been a smart idea to own a ‘share’ of the internet in 1998?
15 years after it began?
In case your answer wasn’t an instant ‘yes’ - here’s a chart of internet adoption.
For a more practical example - Amazon was founded in 1994.
Would it have been a smart idea to own shares of Amazon in 2009?
15 years later?
Yes. Yes it would have been.
Why is any of this relevant?
One of the most common question from crypto investors is the following:
Am I too late? 🤷
Have I missed the exponential gains of Bitcoin & crypto?
According to Mark Yusko, absolutely not.
October 31st was the 15th anniversary of the Bitcoin white paper.
In a mere 15 years, Bitcoin has gone from being worth $0 with no adoption to a $700 billion dollar asset class with tens of millions users.
Yusko argues that Bitcoin is best compared with other exponential technologies, like the internet or Amazon.
“It's such an exciting time to be an investor. Every time there's a correction, the right answer is not to run away, but to buy more.”
Bitcoin is just at the beginning of its ’S’ curve.
You’re still early. 🌅
BITCOIN’S SHRINKING SUPPLY 📉
Over the last couple of days we have been discussing Bitcoin’s supply dynamics. Right now, the supply of Bitcoin is becoming extremely tight.
We’ve been looking at it from the angle of long vs short term holders.
But, today we’ll be taking a different approach and see what investor groups are accumulating the most Bitcoin.
The Shrimp to Fish Balance Change vs Issuance is an interesting metric. It allows us to visually identify which investor group is accumulating or selling the most Bitcoin relative to issuance.
Here’s the investor groups we’ll be going over:
🟪 Shrimps: <1 BTC
🟧 Crabs: 1-10 BTC
🟩 Fish: 10-100 BTC
The combined rate of accumulation for these groups is 92% of newly mined Bitcoin. With the largest accumulator being Shrimps.
That’s 26,161 out of the 28,356 monthly mined Bitcoin…
Since the collapse of FTX, we’ve noticed a significant increase in the amount of Bitcoin being accumulated. There’s hasn’t been any significant draw downs since the 2021 bull market.
The movement of Bitcoin from highly liquid to HODL focused wallets implies a shrinking supply available for sale.
The Bitcoin community is fully focused on HODLing rather than spending.
And don’t forget with the upcoming halving, the amount of Bitcoin issued is going to be cut in half.
Demand is set to far outpace supply. 😎
CRACKING CRYPTO 🥜
WHAT WE’RE READING ✍️
Want to get even smarter? Check these out.
p.s. all completely FREE
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CAN YOU CRACK THIS NUT? ✍️
What date did FTX file for bankruptcy?
A) Nov. 13, 2022
B) Nov. 11, 2022
C) Dec. 12, 2022
D) Oct. 14, 2022
Find out the answer at the bottom of “Meme Corner” below 😀
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: B) Nov. 11, 2022 🥳
It’s been just over one year since FTX collapsed on Nov. 11, 2022.
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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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