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GM to all 80,343 of you. Crypto Nutshell #520 standin’ by… 🦩🥜

We're the crypto newsletter that's more unpredictable than a briefcase full of mystery and a dance contest at midnight... 💼🍔

What we’ve cooked up for you today…

• 🏦 Bitcoin bond ETF

• 💣 Either $1 million or bust…

• 📈 The Bitcoin network

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

BITCOIN BOND ETF 🏦 

BREAKING: Vivek Ramaswamy's Strive Asset Management files for a Bitcoin Bond ETF with the SEC

Strive Asset Management ($1.8 billion in AUM) just filed for a Bitcoin Bond ETF.

Here’s the thing though…

Strive was co-founded by Vivek Ramaswamy, a prominent member of the upcoming Trump administration. (Vivek is set to lead the Department of Government Efficiency alongside Elon Musk)

But what does a Bitcoin Bond ETF even mean? 🤔 

Well this ETF won’t just hold stocks that have Bitcoin on their balance sheets.

Rather it will invest in the convertible bonds offered by companies such as MicroStrategy.

Right now, MicroStrategy convertible bonds are only available to accredited investors.

So this ETF would essentially open up the MicroStrategy bonds to the public.

Here’s the exact wording from the filing:

It’s an interesting development that’s for sure. And a pretty creative ETF.

But it also makes you wonder…

If Vivek’s company is getting in on the Bitcoin action, does he know something that we don’t?

Trump’s team is filled with so many Bitcoin and crypto advocates it’s pretty ridiculous.

But that’s not the only creative Bitcoin ETF that was filed today…

Bitwise just filed for Bitcoin Standard Corporations ETF.

This ETF would invest in companies that have adopted “the Bitcoin Standard”, meaning that they hold at least 1,000 Bitcoin.

Now that’s a cool ETF…

You aren’t bullish enough for 2025. 😎 

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EITHER $1 MILLION OR BUST… 💣

To Michael Saylor, Bitcoin is binary: it’s either something, or it’s nothing.

It’s either worth $1+ million or it’s going to zero.

In his latest interview, Saylor revealed why he’s confident Bitcoin will eventually reach $13+ million.

How does Saylor think we’ll get there?

Whales.

Bitcoin is the biggest finance story of 2024. Everyone is paying attention:

That leaves just one question for you. 🫵

If Bitcoin is binary—it’s either something or nothing—has its institutional acceptance proven it’s no longer nothing?

Something to think about… 💭

THE BITCOIN NETWORK 📈

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 52,671,039 addresses holding at least a little Bitcoin.

Year-to-date, this metric has increased by 949,901 wallets.

We might even hit 1 million before the year is over… (Only a couple more days to go)

However…

You may have noticed that growth has somewhat stalled.

It’s worth pointing out that this metric hit an all-time high of 53,180,054 all the way back in June of this year.

And then “crashed” all the way back down to 51,102,155 in July…

But since July, it’s been grinding higher and higher every single month to where we are today. (52,671,039 wallets)

Here’s the thing with this metric:

When looking at it, we like to zoom out and focus on the overall trend.

And that overall trend is without a doubt up and to the right.

CRACKING CRYPTO 🥜

Japan holds back as Thailand charges ahead in Bitcoin adoption. Japan prioritizes market stability, while Thailand embraces Bitcoin's potential with a pilot project in Phuket.

Trump-linked Strive files for ‘Bitcoin Bond’ ETF. The fund aims to offer exposure to MicroStrategy's convertible bonds, among others.

Bitcoin Returns to $95K as Christmas Rally Snuffed Out. Interest rates were a tailwind to prices for much of 2024, but now may have become a headwind.

Ccancer lab to receive over $1 million in donations after charity memecoin MIRA soars. After his young daughter, Mira, was diagnosed with a type of rare brain tumor, tech CEO Siqi Chen turned to X with a heartfelt plea for donations to support a lab’s research into the condition.

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? ✍️

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MEME CORNER 😂

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

Trivia Answer: C) $60 million 🥳

Beeples NFT sold for $69 million, making Beeple the world's most expensive NFT artist at the time.

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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.