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🥜 How to die poor
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What we’ve cooked up for you today…
🏦 Here come the crypto ETFs
🤡 How to stay poor forever…
💪 Holding on
💰 And more…
Prices as at 2:00am ET
HERE COME THE CRYPTO ETFs 🏦
BREAKING: Volatility Shares files for Solana futures ETF, despite lack of Sol futures products
Last week we mentioned that Vivek Ramaswamy’s Strive filed for a Bitcoin Bond ETF.
Since that filing, Strive made a very interesting statement on Twitter:
“Strive's first of many planned Bitcoin solutions will democratize access to Bitcoin bonds, which are bonds issued by corporations to purchase Bitcoin. We believe these bonds provide attractive risk-return exposure to Bitcoin, yet they are not available to be purchased by most investors.”
But it gets even juicier:
“Since our inception, Strive has called out the long-term investment risks caused by the global fiat debt crisis, inflation, and geopolitical tensions. We strongly believe there is no better long-term investment to hedge against these risks than thoughtful exposure to Bitcoin.”
And now we have even more crypto ETF filings.
Volatility Shares (~$2.38 billion in AUM) has filed for 3 new ETFs that would gain exposure to Solana futures contracts.
But here’s the thing…
Currently Solana futures don’t even exist.
Here’s what ETF analyst Eric Balchunas had to say:
“This is wild. Solana futures ETF filing before Solana futures even exist! Hard core.. And probably a good sign Solana futures are on the way which arguably bodes well for spot odds. And this was supposed to be a quiet week!”
Here’s why this is important:
Volatility Shares were one of the asset managers that really pushed the SEC on Ethereum futures ETFs.
If you remember back then, Ethereum futures ETFs were approved before the Ethereum spot ETFs.
So this is a good sign that Solana spot ETFs are just around the corner.
Finally, in other news…
Michael Saylor continued his Sunday ritual of posting a screenshot of SaylorTrack.com.
For the last 7 weeks, Saylor has been posting a screenshot similar to the one above before announcing another major Bitcoin buy on the Monday.
So it looks like another Bitcoin purchase announcement will be coming out shortly…
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HOW TO STAY POOR FOREVER 🤡
You will work 100,000 hours of your life in the pursuit of money.
You should invest 100 hours in figuring out how to keep your money.
If you don’t, you’ll likely die poor.
That’s the latest warning out from Michael Saylor.
In Saylor’s latest interview, he had some words of advice for Bitcoin holders.
First off, you need to realise this is the first time in history that humans have created perfect money:
“My advice for people is: Bitcoin is digital capital. In 100,000 years we finally came up with perfect money.”
Saylor then acknowledged that the system is not set up for you to win:
“The system is constructed to take all your money away from you unless you get really smart about economics.”
Keep in mind, this is coming from a self-made billionaire.
In a world rigged against you, what’s the solution?
“You will work 100,000 hours in your life as a student and as a laborer to make money… I would say a rational thing to do is invest 100 hours to figure out how to keep your money.”
After investing 100 hours into understanding how to keep your money, you’ll likely reach the same conclusion as Saylor and millions of others:
In a rigged game designed to keep you losing, Bitcoin is your cheat code. 🎮
HOLDING ON 💪
Let’s kick off the week with a checkin on the Bitcoin HODL waves! 🌊
Each coloured band shows the percentage of Bitcoin that last moved within that time period.
As the colours get cooler, the age bands get older (purple being the oldest, representing coins last moved more than 10 years ago).
As always, we’ll be focusing on long-term holders today. (coins held for more than 6 months)
Here’s the breakdown:
6m - 12m: 9.75%
1y - 2y: 8.73% down
2y - 3y: 8.08% up
3y - 5y: 14.76% down
5y - 7y: 7.13% down
7y - 10y: 6.77% up
>10y: 16.87% up
That means that ~72.09% of the Bitcoin supply has NOT moved in over 6 months.
Over the past two weeks, the amount of long-term holders has fallen by ~1.07%
But here’s the thing…
As we explained last week, the majority of this decrease has come from “younger” long-term holders.
More specifically, we’re once again talking about coins held for between 6 and 12 months.
Over the past two weeks, the 6m - 12m age band fell by ~0.60%
Whilst, coins held for longer than 7 years has increased by 0.20%
Ultra long-term holders STILL aren’t ready to let go of their coins just yet.
They are clearly holding out for higher prices…
CRACKING CRYPTO 🥜
Pig butchering scams top 2024 crypto fraud with $3.6 billion in losses. Cyvers traced $3.6 billion in stolen Ethereum funds to pig butchering scams, urging enhanced security measures and real-time monitoring.
Bitcoin may reach $150K or $400K in 2025, based on SBR and Fed rates. Bitcoin’s potential price range in 2025 is quite significant, but it bears down to three major factors, according to the crypto mining firm Blockware.
Bitcoin Kimchi Premium Spikes as South Korea's Political Turmoil Escalates. The South Korean won hit the lowest level against the dollar since March 2009.
Industry groups sue to stop IRS from collecting user info from DeFi front-ends. The requirement would “push this entire, burgeoning technology offshore,” the advocacy group’s top lawyer said.
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) - Twice weekly 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”)
What is the maximum number of Bitcoin that can ever be created? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: C) 21 million 🥳
Bitcoin has a hard cap of 21 million.
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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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