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GM to all you crypto nuts. Crypto Nutshell #492 chargin’ past… 🐏🥜

We're the crypto newsletter that's more hilarious than spending a wild night with a bachelor party gone wrong... 🎉🤦‍♂️

What we’ve cooked up for you today…

• 🏦 He will buy them all

• 🏃‍♂️ Institutional FOMO Is Here

• 🔥 Make it six

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

HE WILL BUY THEM ALL 🏦 

BREAKING: Michael Saylor's MicroStrategy Buys an Additional 51,780 Bitcoin for $4.6B

Last Monday, Michael Saylor announced that MicroStrategy had purchased 27,200 Bitcoin for ~$2.03 billion.

Well, just one week later and Saylor just announced another HUGE Bitcoin buy.

This time, MicroStrategy acquired 51,780 BTC for ~$4.6 billion at an average price of ~$88,627 per BTC.

What. The. Hell.

That is nuts…

This brings MicroStrategy’s total holdings to 331,200 Bitcoin, which they acquired for ~$16.5 billion. (Average price of ~$49,874 per Bitcoin)

And with Bitcoin sitting at around $91,000…

MicroStrategy’s Bitcoin holdings are worth ~$30.22 billion.

(Unrealized gains of ~$13.72 billion)

Funnily enough, Saylor once again teased this latest purchase, posting the following to X yesterday:

But the craziness doesn’t stop there…

MicroStrategy also announced plans to raise an additional $1.75 billion:

And you guessed it…

Of course this $1.75 billion is going to be used to purchase more Bitcoin

But the most insane part is that these convertible senior notes have a 0% interest rate…

Meaning, it is literally free money for MicroStrategy…

And if you’re wondering why anyone would lend MicroStrategy money at a 0% interest rate, here’s the simplest way to think about it:

Plus, MicroStrategy convertible bonds have also proven to be extremely lucrative…

With average returns of ~90%:

Michael Saylor has truly discovered the real life infinite money glitch.

And it blows our mind every single time…

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INSTITUTIONAL FOMO IS HERE 🏃‍♂️

You thought it was just Michael Saylor & Microstrategy buying Bitcoin?

Think again.

Bitcoin game theory is well & truly playing out.

This cycle will not be like the others.

Yesterday, it wasn’t just Michael Saylor announcing more Bitcoin buys.

NASDAQ listed Semler Scientific announced they had also purchased more Bitcoin:

To jog your memory, Semler Scientific is a publicly listed medical device company.

After witnessing the success of MicroStrategy's Bitcoin strategy, they announced on May 28, 2024, that they would be implementing their own Bitcoin treasury strategy.

Since then, Semler Scientific has acquired a total of 1,273 Bitcoin, at an average price of $69,682.

That Bitcoin is now worth just under $120 million dollars.

But here’s the crazy part:

Since adopting their Bitcoin treasury strategy, Semler Scientific's share price has risen from $23.33 to $47.21.

An increase of 102.33% in under 6 months. 🤯

That is ridiculous.

The cat is now out of the bag. 🐈

Adopting a Bitcoin strategy is an easy home run for any institution that is willing to implement it.

Institutional FOMO has arrived.

MAKE IT SIX 🔥

The inflow streak is now up to six!

Last week Digital asset funds saw $2.193 billion in net inflows!

This also brings year-to-date inflows to a new record of $33.5 billion.

And recent price appreciation has also seen total assets under management hit a new peak of $138 billion.

Bitcoin had another impressive week with total inflows of $1.481 billion.

However…

Ethereum also had a standout week, seeing net inflows of $646.3 million.

Solana and XRP both experienced inflows of $23.9m and $4.3m respectively.

Bitcoin’s recent price rise also saw investors add $48.5 million into Short Bitcoin. (Investors betting against Bitcoin, common for this to see inflows after price rises)

As always, The United States was the focus, seeing $2.208 billion in inflows for the week.

Hong Kong, Australia and Canada also saw inflows of $27.0m, $18.3m and $13.0m respectively.

Whilst Sweden, Brazil and Germany experienced outflows of $58.1m, $10.5m and $6.8m respectively.

Interestingly, inflows of ~$3 billion were seen in the first half of the week.

And then as Bitcoin blasted through all-time highs, some investors decided to take profits resulting in $866m in outflows.

Overall, last week another HUGE week for digital asset funds.

And that bullish sentiment will likely continue for the foreseeable future as central banks around the world continue monetary easing cycles.

CRACKING CRYPTO 🥜

Poland presidential candidate wants to allow nation to hold Bitcoin with strategic reserve. Presidential candidate aims to make Poland a crypto sanctuary with plans for a national Bitcoin reserve and supportive financial policies.

Metaplanet Follows MSTR's Lead, Announces $11.3M Debt Sale for Additional Bitcoin Purchases. Metaplanet to issue one-year bonds to finance BTC purchases.

OCC notice suggests impending launch for spot Bitcoin ETF options trading. Some experts suggested that options trading for shares of BlackRock’s iShares Bitcoin Trust could launch on the Nasdaq as early as Nov. 19.

MARA announces $700 million convertible notes sale, intention to acquire more bitcoin. The company plans to use the net proceeds to repurchase a portion of its existing convertible notes and acquire additional bitcoin.

WHAT WE’RE READING 📚

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• 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: A) Non-Fungible Token 🥳

NFTs (non-fungible tokens) are unique cryptographic tokens that exist on a blockchain and cannot be replicated.

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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.