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- 🥜 Michael Saylor is going to sell
🥜 Michael Saylor is going to sell
PLUS: It's all over
GM to all 33,592 of you. Crypto Nutshell #194 feelin’ lucky. 🥜
We’re the crypto newsletter that won't deceive you like a prestigious magician with a dangerous rivalry... 🎩✨
What we’ve cooked up for you today…
😥 Is this the end?
😰 Michael Saylor is going to sell…
🤔 Is Bitcoin overvalued?
💰 And more…
MARKET WATCH ⚖️
Prices as at 5:30am ET
Only the top 20 coins measured by market cap feature in this section
IS THIS THE END?😥
BREAKING: sell signal? Jim Cramer changes mind on Bitcoin
CNBC’s Jim Cramer has completely flipped his stance on Bitcoin.
In case you have no idea who Jim Cramer is, checkout our previous article on him here.
Basically, all you need to know is that his investment advice has become a complete meme.
Just take a look at what he had to say about Bitcoin, back in October 2023:
“A lot of the people who watch us are searching for ways not to lose money but to make money. I can’t go out with gold cause gold is not good. I can’t go out with Bitcoin because… Mr. Bitcoin is about to go down big.”
And here’s how Bitcoin performed after he made this comment:
It literally only went up 🤣
He literally called the bottom 🤣
But now, he’s completely backtracked on that statement.
Here’s his most recent comment on Bitcoin:
“It’s a reality, and it’s a technological marvel, and I think people have to start recognizing that it’s here to stay.”
Unfortunately folks, this may be the end… 🫡
TOGETHER WITH VINCENT SPOTLIGHT🔦
If you’re into crypto, there’s a good chance you want to be wealthy.
Not BMW wealthy, but Bugatti wealthy. 🏎️
Unfortunately, this isn’t the 70’s anymore. Investing in real-estate, bonds or index funds just won’t cut it anymore…
That’s where alternative assets come in.
Alternative assets can be anything from crypto to fine art, trading cards, wine or vintage cars. Investments that have the potential for massive returns.
The problem? There’s so many to keep up with…
That’s where VINCENT SPOTLIGHT comes in:
Breaks down the top opportunities in the alternative asset space ✅
Behind the scenes look into the highest alternative asset sales 🤑
Delivered straight to your inbox in a weekly in 4 min read 📨
Annnnd you guess it, they’re completely FREE.
Subscribe now by slamming that big subscribe button below, the alternative asset market awaits… 💰
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MICHAEL SAYLOR IS GOING TO SELL 😰
Today, in a filing with the SEC, it was revealed Michael Saylor intends to sell.
Not his Bitcoin, but shares in his company, Microstrategy.
Saylor intends to sell 315,000 shares of MSTR, worth $216 million dollars.
He will do so by selling 5,000 shares every single trading day, starting today & ending April 25, 2024.
SEC filing showing Saylor intends to sell 315,000 shares
Why is he selling?
Saylor addressed this in a Microstrategy fourth-quarter conference call.
“Exercising this option will allow me to address some financial obligations as well as acquire additional Bitcoin for my personal account.”
Saylor is going to sell off over $200 million in shares, to buy more Bitcoin. 🤯
This will add to Saylor’s personal stash of Bitcoin, which is currently at 17,732 BTC. Worth just over $800 million.
By the time Saylor is done, he will personally own over $1 billion in Bitcoin.
Wether you agree with his investment thesis or not, one thing is undeniable:
The conviction of Michael Saylor is incredible.
In other news, the Bitcoin that Microstrategy owns (189,150 BTC) now sits on a $2.65 billion profit.
Are you going to bet against Saylor? 🎲
IS BITCOIN OVERVALUED? 🤔
Today we’ll be answering the question: is Bitcoin overvalued?
To do that, we’ll be taking a look at the Market Value to Realized Value Z-Score.
This metric simply compares the market value to the realized value.
Market Value: current price of Bitcoin multiplied by the circulating supply
Realized Value: similar to market value, but uses the price at which each coin last moved
A market top (red zone) is categorised by market value being significantly higher than the realized value.
A market bottom (green zone) is categorised by market value being significantly lower than the realized value.
Taking a look at the chart above, notice how the MVRV ratio has only just started to move off the green zone?
Using this metric, we can see that the best time to purchase Bitcoin is when it’s in the green zone (market bottom). November 2022 marked this bottom.
As of today, the MVRV ratio actually reached it’s highest level since April 2022.
Which makes sense with the crazy price action we’ve seen recently.
Anyway, to answer the question, is Bitcoin overvalued? 🤷♀️
Nope, not by a long shot.
Bitcoin still has a loooonnnngggg way to go before it’s anywhere near the red zone.
The party has only just begun. 🥳
CRACKING CRYPTO 🥜
Spot Bitcoin ETFs could get end-of-week approval, FOX reporters say. FOX Business reporters suggested on Jan. 1 that various pending spot Bitcoin ETFs could be approved by the end of the week.
Spot Bitcoin ETF will pave the way for pension fund investment. The approval of spot Bitcoin ETFs will open the doors for pension and RIA funds to invest, according to CBOE Digital.
Solana marketing ploy leads to proliferation of scams. Promise of a token airdrop to reward heavy users of Ethereum if they try Solana, becomes fertile ground for fraud.
Etherscan Acquires Solscan to Enhance Solana Ecosystem Analysis and User Experience. Etherscan has successfully completed the acquisition of Solscan, a leading block explorer operating within the Solana ecosystem.
WHAT WE’RE READING ✍️
Want to get even smarter? Check these out.
p.s. all completely FREE
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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 🥳
Beeple sold his NFT artwork “Everydays: the First 5,000 Days” for $69.3 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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