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PLUS: We messed up
GM to all you crypto nuts. Crypto Nutshell #471 swimmin’ by… 🐠 🥜
We're the crypto newsletter that's more adventurous than a young man leading a revolution to save a post-apocalyptic world... 🏜️⚔️
What we’ve cooked up for you today…
🕵️ Who is Satoshi Nakamoto
⏱️ It’s time…
📈 The rise of stablecoins
💰 And more…
Prices as at 3:30am ET
WHO IS SATOSHI NAKAMOTO? 🕵️
BREAKING: Bitcoin documentary threatens safety of Satoshi Nakamoto suspect
Who is Satoshi Nakamoto?
It’s the question everyone wants to know the answer to…
So far no one has definitively been able to identify who the anonymous Bitcoin creator “Satoshi Nakamoto” is.
2 weeks ago HBO released a documentary titled “Money Electric: The Bitcoin Mystery”.
In the lead up to that documentary, director Cullen Hoback claimed that they would be revealing the true identity behind Satoshi Nakamoto.
🚨 SPOILER WARNING 🚨
Skip over this section if you haven’t watched the documentary yet.
This.
Is.
Your.
Final.
Warning.
After exploring a bunch of potential candidates, the documentary ends up revealing Peter Todd as their main suspect.
Todd states in the final scenes of the film:
“Well yeah, I’m Satoshi Nakamoto.”
But…
Todd has since clarified that this statement was taken out of context and that he was only joking.
In a recent interview with Wired, Todd raised concerns around his safety.
Todd participated in the documentary as he believed it would focus on the history of Bitcoin… Not an attempt to reveal Satoshi’s true identity…
Todd explains:
“Obviously, falsely claiming that ordinary people of ordinary wealth are extraordinarily rich exposes them to threats like robbery and kidnapping. Not only is the question dumb, it's dangerous. Satoshi obviously didn't want to be found, for good reasons, and no one should help people trying to find Satoshi.”
However Money Electric director, Cullen Hoback is sticking to his guns.
Hoback believe's that revealing the true identity of Satoshi Nakamoto is important:
“There’s potentially this anonymous figure out there who controls one-twentieth of the total supply of digital gold… [Identifying this person] is pretty important.”
Despite the documentary pointing fingers at Peter Todd, the crypto community isn’t convinced.
Many view the documentary’s evidence as weak and circumstantial at best.
Okay, we admit it…
We messed up.
Yesterday we launched Crypto Nutshell Pro to its first 50 members.
It sold out straight away.
See exactly what we hold
After the huge amount of feedback we received, we realised this was unfair.
We all live busy lives - and not everyone can check their emails straight away.
To make it up to those that missed out, we’ve opened 25 more slots.
However, this is it. Once the new 25 slots are gone, they’re gone.
By signing up, here’s what you’ll get:
Exactly what we hold - A look into exactly what we’re holding in our portfolio
Weekly altcoin breakdowns - Detailed analysis on altcoins
Bull / Sell indicators - know exactly when we believe it’s a good time to enter and exit positions
Watch list - Which coins we’re keeping a close eye on
If we ever do open the group again, it will be at increased prices.
See you on the inside!
IT’S TIME… ⏱️
Bitcoin is going to new all-time highs in 2025.
The only question: how high will it go?
But that’s not a contrarian take.
The controversial take? It’s time for Ethereum to shine in 2025.
That’s the latest out from Matt Hougan.
Matt Hougan is the Chief Investment Officer at Bitwise.
In his latest interview with Altcoin Daily, Matt gave his updated prediction for Bitcoin in 2025:
“I think it’s going to be a new all-time high. I think it’s going to be a six-figure Bitcoin for sure. The question is, will it be a 1 or a 2?”
For those of us in the space, it’s a pretty accepted view that we’ll be seeing new Bitcoin all-time highs in 2025.
Matt’s controversial take? Ethereum is about to out-perform.
First of all, Ethereum has become one of the most hated coins, with investors abandoning it due to it’s underperformance:
“Ethereum is the asset that people love to hate…”
So why is Matt bullish?
Because if you step back and look at where the ‘killer apps’ are being built, they’re all on Ethereum:
“When you step back and look at it, what are the killer apps of crypto? Stablecoins, DeFi, tokenisation. What is the leading blockchain for these? It’s still Ethereum.”
Ethereum has 2 major selling points:
Ethereum has the most developers working on it
Ethereum is the only other crypto outside of Bitcoin with an ETF
Given this, Matt believes it’s time for Ethereum to outperform:
“I think it’s set up to be a pretty good contrarian play in 2025.”
As we said yesterday, we agree with this take.
We also think it’s time for Ethereum & (some) altcoins to outperform.
Why? In the second half of bull-runs, they always do:
Bitcoin dominance collapses in second-half of bull runs
This is why yesterday we launched the Crypto Nutshell Portfolio:
Crypto Nutshell Portfolio returns: +54.42%
Bitcoin returns: +11.38%
Initially, we capped spots at 50 people. However, this sold out immediately, which we realise is really unfair.
Due to overwhelming feedback, we’ve opened another 25 slots to readers.
(we promise this will be it for the foreseeable future)
THE RISE OF STABLECOINS 📈
Two days ago it was confirmed that Stripe acquired stablecoin platform Bridge for $1.1 billion.
Stablecoins have quickly cemented themselves as THE “killer app” for crypto.
And now the big money is bullish on the industry…
So today, we’ll be taking a look the overall stablecoin supply.
Stablecoins often used on centralized and decentralized exchanges to purchase other digital assets. And allow the instant transfer of money between borders.
The chart below tracks the aggregate change in the total stablecoin market cap.
🟢 Increased stablecoin supply: increased demand and capital inflows into the digital asset space 🐂
🔴 Contractions in stablecoin supply: net capital outflows from digital assets 🐻
The last time we checked in on this metric, the stablecoin market cap was ~$160.07 billion. (9th of October)
Today the aggregate stablecoin market cap is ~$160.99 billion. 📈
That’s a sizeable increase of $0.92 billion over the last two weeks.
And as you can see from the chart above, this metric is relatively close to surpassing it’s all-time high. ($162.95 billion)
Only ~$1.96 billion more to go…
Stablecoins have absolutely exploded in popularity.
Despite being only a decade old, stablecoins (as a whole) have risen to become a top 20 holder of US debt.
This puts them ahead of countries like Germany, which is such an insane stat.
Stablecoins are without a doubt, cryptos killer app. 😎
And are playing a HUGE role in bringing crypto into the mainstream.
CRACKING CRYPTO 🥜
Peter Todd slams HBO for putting his life in danger by calling him Bitcoin's creator. Peter Todd enters hiding after an HBO documentary falsely accuses him of being Bitcoin's pseudonymous creator, Satoshi Nakamoto.
Paul Tudor Jones says 'all roads lead to inflation,' long Bitcoin. The hedge fund veteran also suggests holding gold, commodities, and technology stocks.
Gary Gensler's Contentious Reign Over Crypto Approaches Its Twilight. The U.S. SEC chair has arguably been the individual with the greatest influence over the direction of America's crypto policies, but his days atop the agency are numbered.
Tether is 'doubling down' on communication and transparency, CEO Paolo Ardoino says. "Compliance is very, very important," Ardoino said Tuesday at the 8th Annual Washington DC Fintech Week.
WHAT WE’RE READING 📚
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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”)
How much did Beeple's record breaking NFT sell for? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: C) $69 million 🥳
In 2021, the work was offered at Christie's. It 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.
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