GM and welcome to The Crypto Nutshell 🥜, your daily burst of crypto intel. We mix expert analysis, the freshest on-chain data, and the latest news with a dash of meme magic. All served compactly right into your inbox every single day. Today we’ll cover:

• Cameron Winklevoss takes on the SEC 🥊 

• Michael Saylor’s BTC dominance prediction 🔍

• BTC Supply analysis 📊

• And more…

MARKET WATCH ⚖️

Ready to rumble? 🥊

Let's pull back the curtain on Bitcoin and Ethereum's market prices, while also unearthing today's juiciest crypto news. Get set, it's showtime!

Gemini co-founder Cameron Winklevoss has criticised the SEC’s ongoing refusal to approve spot Bitcoin ETFs.

According to Winklevoss, this resistance from the SEC has forced U.S. investors towards "toxic" alternatives, such as the Grayscale Bitcoin Trust which currently trades at a significant discount to Bitcoin's price and charges high fees.

He also believes that this situation is pushing investors towards unregulated offshore platforms, including FTX, which he calls "one of the largest financial frauds in modern history."

Amidst this regulatory environment, multiple companies, including BlackRock, Fidelity, WisdomTree, Invesco, Valkryie, and ARK Invest, have recently filed, renewed, or amended applications for a spot Bitcoin ETF.

EXPERT OF THE DAY - MICHAEL SAYLOR ⛵️

If you've been in the crypto space for any amount of time at all you would know of MicroStrategy founder & the dark king of Bitcoin - Michael Saylor.

Revealed in his latest interview with Bloomberg, Saylor revealed that he believes bitcoin dominance is going to explode higher, with it eventually making up 80% of the entire crypto space.

Bitcoin dominance currently sits at 48% so Saylor thinks it will almost double. Saylor also believes all the exchanges are going to simplify down to a bitcoin dominated offering, along with a handful of other tokens.

*Note that he specifically said proof-of-work tokens, ie. tokens that work like bitcoin. He has no love for proof-of-stake cryptocurrencies like Ethereum.

ON CHAIN DATA DIVE 📊

Lets take a quick look at the most recent on chain data.

After the third halving event, Bitcoin's ecosystem entered a unique phase: its illiquid supply (bitcoins not readily available in the market) has started growing faster than the newly issued supply.

Despite 19 million out of 21 million total coins already being in circulation, the remaining 2 million will be introduced gradually over the next century, enhancing Bitcoin's scarcity and potential value. 

Ever since the third halving, Bitcoin has become increasingly scarce. 💰

CRACKING CRYPTO 🥜

Bitcoin Depot merges with GSR II Meteora, becoming Bitcoin Depot Inc., to trade on Nasdaq as 'BTM' from July 3, 2023, with a mission to bring Bitcoin to the masses via its North American kiosk network of approximately 6,440 machines.

Morpheus Labs hosts a revolutionary blockchain event in the metaverse, facilitating collaboration and offering an immersive experience to foster Web3 adoption. Attendees get an opportunity to interact with tech giants and gain insights into the fast-paced world of blockchain, Web3, and metaverse.

Amid rising crypto crime rates, Belarus is preparing to outlaw P2P cryptocurrency transactions, forcing citizens to exchange digital assets only via registered exchanges. This move, however, stirs debate among crypto enthusiasts who question the feasibility of enforcing such a ban.

OKX extends its $70M sponsorship deal with Manchester City despite last year's crypto industry concerns. The club and other partners have audited OKX's proof of reserves to ensure its liquidity and reliability, overcoming apprehensions due to FTX's collapse.

TRIVIA TIME ✍️

The first commercial bitcoin transaction was for a pizza worth ___ BTC?

• A) 10,000

• B) 1

• C) 100

• D) 10

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: A) 10,000 🎉

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.