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What we’ve cooked up for you today…

• 🏦 What is going on?

• 🎭 Heads, Bitcoin Wins. Tails, Fiat Loses.

• 🥱 Slowing down

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

WHAT IS GOING ON? 🏦

BREAKING: Trump's media company files trademarks for Made in America ETF, Bitcoin Plus ETF and more investment products

This certainly wasn’t on our 2025 bingo card…

Trump has decided to launch his very own Bitcoin ETF. 😲

For the first time in history, the US president is an ETF issuer.

According to a Feb 6 announcement, TMTG (Majority owned by Donald Trump) filed a trademark for the following ETFs:

• Truth.Fi Made in America ETF

• Truth.Fi US Energy Independence ETF

• Truth.Fi Bitcoin Plus ETF

TMTG CEO Devin Nunes had this to say:

Continuing on, Nunes explains:

But…

According to ETF analyst Eric Balchunas, we shouldn’t be expecting insane inflows for these products:

On top of this, Eric Trump also tweeted “Feels like a great time to enter BTC".

And speaking at the Ondo Summit this morning, Trump’s oldest son had this to say:

Sounds like the Trump’s are all in on Bitcoin…

Now is not the time to be bearish.

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HEADS BITCOIN WINS, TAILS FIAT LOSES 🎭

This week, crypto saw its largest liquidation event ever.

$10 billion in leveraged positions - gone. 💨

The trigger? Tariffs.

But investors are too focused on the short-term chaos to see the bigger picture.

That’s the latest message out from Matt Hougan & Jeff Park.

Matt Hougan is the Chief Investment Officer at Bitwise. Jeff Park is the Head of Alpha Strategies.

This week, in an investor memo, they shared why Trump’s latest tariff moves are actually bullish for Bitcoin.

Here’s the core thesis:

• Trump’s tariff plans are a negotiation tool. The most likely outcome is they lead to a multilateral deal to weaken the U.S. dollar - a weaker dollar means a higher Bitcoin.

• If Trump’s plan works, he’ll push for lower rates - making money cheaper and driving investors into Bitcoin.

• If he fails, economic weakness will force the FED into record-breaking money printing - historically, Bitcoin’s biggest catalyst.

Either way, Bitcoin wins.

As Jeff Park put it:

We like those odds.

Never let panic shake you out. Smart money is already positioning. 🧠

SLOWING DOWN 🥱

Today we’ll be taking a look at the amount of wallets that hold at least some Bitcoin. (anything greater than 0)

This metric provides a high level overview of the Bitcoin network’s user base/activity.

But there’s a slight catch…

One wallet does not equal one user. A user can have many wallets.

What matters here is the trend of the chart.

• Increasing number of addresses: increasing adoption levels 📈

• Decreasing number of addresses: indicates users are selling their entire balance or consolidating wallets 📉

As of today there are 52,541,469 addresses holding at least a little Bitcoin.

Which marks a decrease of 89,967 wallets compared to when we looked at this metric two weeks ago.

This puts the year-to-date growth of this metric at an additional 17,932 wallets.

As you can see from the chart above, growth in the metric has slowed down considerably over the last few months.

However…

While short-term fluctuations occur, the overall trend is still up and to the right.

Until a sustained reversal happens (which seems unlikely at this stage), a slowdown in new wallet creation isn’t necessarily a cause for concern.

CRACKING CRYPTO 🥜

VanEck forecasts 3% market cap growth for Solana, $520 price by 2025-end. Solana's validator revenue could grow 56% with protocol enhancements, such as the implementation of the validator client Firedancer.

Grayscale Bitcoin Mini Trust ETF AUM crosses $4B. Grayscale’s new ETF offers low fees compared to peers, including its legacy spot BTC fund.

Czech Republic to Eliminate Taxes on Long-Term Crypto Gains. The country's central bank is also looking at whether or not to add bitcoin to its reserves.

Galaxy’s Novogratz calls Ethereum sentiment ‘unbelievably bearish’ as ETH price struggles to keep pace. While both BTC and SOL recently achieved all-time highs amid a new bullish cycle, ETH has been steadily declining in price since mid-December.

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) - Daily Bitcoin news

• Techpresso (link) - Daily tech news and insights

• 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”)

MEME CORNER 😂

Because what would the crypto world be without its share of memes?

Trivia Answer: D) Satoshi Nakamoto 🥳

Bitcoin was invented in 2008 by Satoshi Nakamoto, an unknown entity (person or persons).

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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.