GM and welcome to The Crypto Nutshell! 🫶 🥜 

The crypto newsletter that's a better investment than waking up in an alternate timeline where Biff Tannen is rich and powerful. ⏰💰

Today, we’ll discuss:

• Recapping the last 24 hours in the world of crypto 🌏

• Michael Saylor: Is it too late to invest in Bitcoin?

• Why is Bitcoin flowing out of exchanges? 🤷‍♂️

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 50.07% and the current crypto market cap is $1.20T ▼0.35%

Biggest Winners of The Day 🤑

• Toncoin (TON) ▲5.06%

• Cardano (ADA) ▲1.55%

• Bitcoin Cash (BCH) ▲1.31%

Biggest Losers of The Day 😭

• XRP (XRP) ▼3.93%

• Solana (SOL) ▼3.51%

• TRON (TRX) ▼2.03%

Only the top 20 coins measured by market cap feature in this section

Remember that HUGE win XRP had 2 weeks ago?

Looks like it isn’t in the all clear just yet. The SEC may be gearing up for an appeal to the decision on if XRP is a security or not.

Court documents show us that the SEC is now “considering the various available avenues for further review” on the previous ruling.

The SEC is arguing that the ruling goes against “fundamental securities laws principles”. They use a little thing called the Howey test to determine what should be categorised as an investment contract.

HOWEVER… The Howey Test is based on a 1946 US Supreme court ruling… so maybe it’s a little outdated don’t you think?

Stay tuned for more updates on this case.

Here’s what other twitter users had to say about this:

All price data as of 7:20am ET

Hey, we love our community and want to get to know you guys a little better. We’d appreciate if you checked out the poll below and let us know what you think 😁

EXPERT OF THE DAY - MICHAEL SAYLOR ⛵

Is it too late to invest in Bitcoin? Are all the exponential gains already gone? Are we too late to the party?

Absolutely Not.

At least, according to Michael Saylor, that is.

Michael Saylor believes that Bitcoin could literally 1000x.

No - that wasn’t a typo.

One thousand times bigger in today’s dollars. 🤑

In his latest interview done with Altcoin Daily - Saylor broke down his Bitcoin thesis.

Bitcoin is a blackhole that is slowly going to suck up all the money in the world.

The smart money already knows where it’s going.

That’s why BlackRock, Fidelity & Charles Schwab are joining the party.

Michael Saylor put it like this.

Bitcoin = New York 🌆

New York was widely known to be the most prosperous city in North America by 1776.

If you had waited 100 years - until 1876 - to buy a city block in New York, would you have been making a mistake? 🤷‍♀️

100 years after it was common consensus that New York was the best city in the world? Would you have been late to the New York party? Were all the gains gone?

Absolutely not.

So are you too late for Bitcoin?

That’s for you to decide.

But we think the party’s just getting started. 🎉

Nutty’s takeaway: A lot of people get caught up in the narrative: “You’re too late to Bitcoin / Crypto!” and “It’s all already priced in!”

I think that’s ridiculous.

Imagine thinking you are late to an asset class only 14 years after its inception.

Bitcoin & Crypto is still in its infancy! 👶

ON CHAIN DATA DIVE 📊

Whoa, what’s going on with the Bitcoin Exchange Balance? 🤔

Now this chart may appear simple on the surface, but digging deep we can extract some real juice. Basically, this chart just tracks the total amount of coins held on exchanges (Blue line) where Bitcoin is available for purchase. Easy enough, let’s jump in.

Bitcoin exchange balances are down to levels last seen around Jan/Feb 2018.

Exchange balances reached a peak of 3.2 million in March 2020 (grey shaded area), since then they have dropped to 2.1 million. A decrease of 34%.

As of today this represents ~10% of the Bitcoin supply on exchanges 😲

Clearly something BIG happened to cause this trend? Why is all of this Bitcoin moving off of exchanges?

Well yeah… quite a few things happened actually:

• MicroStategy (Michael Saylor) began buying large amounts of Bitcoin

• Growing demand by corporate treasuries (Tesla)

• Binance and Coinbase get sued by SEC

• FTX and BlockFi went bankrupt

• etc…

All of these combined made investors remember the golden rule of crypto

🙌 Not Your Keys, Not Your Coins 🙌

Nutty’s Takeaway: Investors are becoming increasingly sceptical on storing there coins with exchanges such as Binance and Coinbase. This is a bullish indicator as investors are taking control of their coins through cold storage. This also hints at a more long-term holder approach as exchange balances continue to dry up, which could lead to true price discovery…Big upswing approaching? 📈

CRACKING CRYPTO 🥜

TRIVIA TIME ✍️

How many Bitcoin’s does Satoshi Nakamoto own?

• A) 1.3 million

• B) 0.9 million

• C) 1.1 million

• D) 1.8 million

Find out the answer at the bottom of this newsletter 😀

MEME CORNER 😂

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

Trivia Answer: C) 1.1 million🎉

Satoshi Nakamoto is estimated to own around 1.1 million Bitcoins, placing them firmly at the top as the largest Bitcoin holder, this represents close to 5% of the total possible Bitcoin supply (21 million). For more continue reading here.

NUTCASE REVIEW OF THE DAY 🔍

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.