Today’s edition is brought to you by Crypto.com

Start earning up to 5% back on all your spending! No annual fees. Sign up for the Crypto.com Visa Card today to receive your instant $25 bonus!

GM to all you crypto nuts. Crypto Nutshell #504 poppin’ bottles… 🥂🥜

We're the crypto newsletter that's more adventurous than venturing into the jungle to uncover hidden secrets... 🌴🔍

What we’ve cooked up for you today…

• 💪 Bitcoin finally hit $100,000

• 🧟 Back from the dead

• ⛈️ Supply shock?

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

BITCOIN FINALLY HITS $100,000 💪 

BREAKING: Bitcoin price hits $100K for first time in history

WE DID IT!

What a beautiful sight…

After almost crossing $100,000 over a week ago.

Bitcoin has finally done it….

Bitcoin officially crossed the HUGE psychological barrier that was $100,000, setting a new high of $103,900.47. 🤯

Anyone remember this classic from notorious Bitcoin skeptic Peter Schiff?

And here’s a fun fact for you:

If you purchased Bitcoin on the day we published the very first edition of Crypto Nutshell (27 June 2023), your investment would be up by ~232.25%!

There’s also something else we didn’t expect to see this morning…

US Federal Reserve Chair Jerome Powell recently spoke about Bitcoin.

And it wasn’t negative!

Here’s what Powell had to say during The New York Times’ DealBook Summit:

Continuing on Powell explains:

The Fed chair just compared Bitcoin to gold…

Bitcoin is quickly being recognised as gold 2.0 even by traditional finance firms and now the government.

The US Bitcoin strategic reserve is a real possibility…

That is an insane development.

But for Bitcoin to reach the level of gold, it needs to rise ~9.4x from where we are today.

That doesn’t sound too crazy…

Does it?

Also we just want to quickly follow up on yesterday’s newsletter, where we broke down Trump’s pick for the new SEC Chair.

Since posting that newsletter, Trump has officially announced Paul Atkins as his pick to lead the SEC.

(Notice how Trump mentioned digital assets in his post… 👀 )

Every single day is making us more and more bullish for 2025.

Congratulations to all hodlers. 💎 🙌

You deserve this. 🍾

START MAKING EVERY TRANSACTION COUNT 💳

If you haven’t got a crypto card yet, you’re living in the past.

With a Crypto.com Visa Card you can spend your crypto anywhere you want.

The benefits are insane.

Not only is there NO monthly or annual fee, you also get up to 5% back on every transaction.

With your Crypto.com Visa Card you can:

• Enjoy 100% cashback on Spotify, Netflix, and Amazon as a new customer. 🍿

• Get complimentary access to airport lounges and elevate your travel experience. ✈️

• Flaunt your style with the sleek and stylish metal card 🌟

Here’s how to get your $25 bonus and start earning up to 5% back:

1. Click here to Download the Crypto.com App

2. Sign Up: Use our referral code - Nutty - for your instant $25 bonus.

3. Get Your Crypto.com Visa Card: Start making transactions, earning rewards, and enjoying the perks!

Start making every transaction count - the future is here.*

BACK FROM THE DEAD 🧟

It’s no secret.

Ethereum has seriously underperformed Bitcoin this year:

• Bitcoin: +142.68%

• Ethereum +68.45%

This has lead many to declare: "Ethereum is dead."

But according to macroeconomic expert Raoul Pal…

It’s about to explode.

Raoul Pal is a macroeconomic expert with one of the best track records in the space.

Raoul made his first Bitcoin investment in 2013 when it was priced at just ~$200. Even back then, he foresaw its potential, predicting it would eventually reach $100,000.

Safe to say, his predictions are pretty good.

This week, Raoul pointed out Ethereum looks primed for a big move up:

Raoul is pointing out that Ethereum is forming a massive ‘Falling Wedge’ pattern.

This is a bullish technical trading signal. Typically, when a Falling Wedge breaks, it breaks upwards, explosively:

Backing up Raoul Pal was another macroeconomic expert, Dan Tapiero.

He pointed out that the Ethereum ecosystem has never been more vibrant:

Both Raoul and Dan are correct.

The future of Ethereum has never been brighter.

Strap in. 🚀

SUPPLY SHOCK? ⛈️

Let’s continue with the Ethereum talk.

From the section above we discovered that Ethereum’s price performance paints a very bullish picture.

But Ethereum’s supply side dynamics are also looking extremely good.

First up, we’ve got the amount of Ethereum currently being staked.

Quick Note: Ethereum staking is the process of locking up ETH to support the blockchain's security. Users earn rewards for staking.

If you’d like to learn more about staking, checkout this article.

As of today, there is 54,117,709 ETH being staked.

Here’s the absolutely insane part though…

That’s 45.11% of the ENTIRE CIRCULATING SUPPLY.

Which means that 45.11% of the entire Ethereum supply is in the hands of long-term holders.

And if you can remember back to last week, we broke down the amount of Ethereum sitting on exchanges.

Spoiler alert: There’s only ~10.45% of the total supply available on exchanges.

So here’s the current situation:

• Ethereum’s price performance has formed a massive falling wedge pattern

• Daily active users and transaction counts are setting new highs

• 45.11% of the entire supply is locked for staking

• The Ethereum ETF flows are starting to tick up

• And only 10.45% of the supply is available for sale on exchanges

That sounds like an EXTREMELY bullish set up to us. 😎 

CRACKING CRYPTO 🥜

Putin says Bitcoin is inevitable, endorses BTC over US dollar as global reserve currency. Putin's endorsement of Bitcoin marks a strategic shift in Russia's economic policy, with crypto playing a crucial role in navigating Western sanctions.

Ethereum's Justin Drake Sees No Threat From Solana, Says Its ‘Golden Era’ Will End. Ethereum's Beam Chain "is all about improving the long-term health and security of the consensus layer," says Drake.

Rep. French Hill pledges to investigate debanking following crypto executives' complaints. Rep. French Hill, who could have a pivotal role next year in setting financial service priorities.

WHAT WE’RE READING 📚

Want to get even smarter? Check these out.

p.s. all completely FREE (one click subscribe link)

• Crypto Pragmatist (link) - Actionable alpha 3x a week

• The Hustle (link) - Get Smarter on Business and Tech

• Your Next Breakthrough (link) - Personal growth with Mark Manson

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) 10 minutes 🥳

Bitcoin adds a new block to the ledger about once every 10 minutes.

GET IN FRONT OF 64,000+ CRYPTO INVESTORS

Advertise with Crypto Nutshell to get your product or brand in front of the crème de la crème of crypto investors. Crypto Nutshell readers are high-income earners who are always looking for unique or interesting offers.

Get in touch today.😎

HOW DID WE DO? 🤷

We read every comment submitted in this poll and love to hear what you guys have to say. 😁 (bonus points for suggestions 🍪)

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.