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GM to all 84,827 of you. Crypto Nutshell #526 keepin’ it sweet… 🍓🥜

We're the crypto newsletter that's more heroic than rallying a team of misfits to save the galaxy... 🌌🚀

What we’ve cooked up for you today…

• 🏦 The Bitcoin strategy

• 🤷‍♂️ No Bitcoin

• 📈 It’s over?

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

THE BITCOIN STRATEGY 🏦 

BREAKING: Metaplanet eyes upping Bitcoin holdings to 10K BTC in 2025

Here’s a question for you…

What was Japan’s number one performing stock of 2024?

Well it turns out that Japan’s best stock of 2024 was Metaplanet.

And it wasn’t even close…

If you’ve never heard of Metaplanet before we don’t blame you. (We’ve mentioned them quite a few times in the past though 🤨)

Metaplanet’s core business focused on real estate and hotel development.

But in April 2024, they decided to go all in on Bitcoin…

Immediately after announcing a Bitcoin strategy, Metaplanet’s stock began to explode.

Throughout 2024, Metaplanet went from zero to 1,761 Bitcoin. ($173.28 million)

This makes them the 15th largest Bitcoin holder among all publicly traded companies in the world.

But that’s only just the beginning…

Metaplanet’s CEO, Simon Gerovich, recently posted his 2025 goals:

What Metaplanet has done is incredible.

It goes to show that a Bitcoin strategy works and can seriously boost a companies stock price.

And whilst we’re on the topic of Bitcoin corporate adoption…

For the 9th week in a row, Michael Saylor posted a screenshot of SaylorTracker.com

And for the past 9 weeks, Saylor has announced a significant Bitcoin purchase the following day.

Looks like Saylor’s making it 9 straight weeks of buying Bitcoin… 🚀 

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NO MORE BITCOIN 🤷‍♂️

We’re running out of Bitcoin.

If every millionaire on earth wanted 1 whole Bitcoin, only 1 in 3 could get it.

That’s the latest message out from Hunter Horsley.

Hunter Horsley is the co-founder & CEO of Bitwise, who currently have 40,289 Bitcoin in their Bitcoin ETF. (worth ~$4 billion)

Today, Hunter pointed out just how scarce Bitcoin is:

Hunter isn’t wrong - there’s currently an estimated 58 million millionaires around the world.

If the total Bitcoin supply of 21 million were evenly distributed amongst them all, each could only accumulate 0.362 Bitcoin.

But the truth is, it’s actually even worse than that:

It’s estimated that the keys to roughly 1.57 million Bitcoin have been completely lost.

Now consider Satoshi's Bitcoin, which have remained untouched since Bitcoin's inception. This removes an additional 968,000 Bitcoin from circulation.

The total supply of Bitcoin is now reduced to just 18.5 million.

Now consider, the Bitcoin ETFs have accumulated over 1.125 million Bitcoin in under a year.

Michael Saylor and MicroStrategy alone have acquired 464,000 Bitcoin. According to Saylor, they have no intention of ever selling.

No matter which way you crunch the numbers, Bitcoin's supply is rapidly shrinking.

Get ‘em whilst you can… ⏳

(we actually did a full video breakdown on this topic - check that out here)

IT’S OVER? 📈

Time for a check-in on the Long/Short-Term Holder Threshold.

Here’s how this metric works:

• 🔴 Short-Term Holders (STHs): coins that have been held for less than 155 days

• 🔵 Long-Term Holders (LTHs): coins that have been held for more than 155 days

• 🟥 Short-Term Holder Cost Basis: all coins purchased in this price range are STHs

• 🟦 Long-Term Holder Cost Basis: all coins purchased in this price range are LTHs

This metric is extremely powerful as we can see exactly what price STHs and LTHs purchased Bitcoin at. 🔎

The LTH / STH threshold is currently at 3rd August 2024, when Bitcoin was ~$61,000.

All coins purchased before this date are classified as LTHs.

All coins purchased after this date are classified as STHs.

Today, there are currently 13,138,196 Bitcoin in the hands of LTHs.  (66.34% of the circulating supply) 💪

Whereas the amount of coins held by STHs is only 3,879,043. (19.59% of the circulating supply)

Since early October 2024, LTHs have sold off 1,083,446 Bitcoin.

That’s $106.67 billion at today’s prices!

However…

It may just be bottoming out…

Since the 1st of January 2025, the amount of LTHs has increased by 4,606 Bitcoin. ($453.48 million at today’s prices)

The important thing to keep in mind is that the majority of this sell-off has come from the “youngest” long-term holders. (We broke this down last week)

The “youngest” long-term holders are those who have held Bitcoin for between 6 and 12 months.

We’ll be checking back in on this metric next week to see if LTHs has truly bottomed out.

And if this sell pressure has come to an end, Bitcoin can once again start moving higher.

CRACKING CRYPTO 🥜

Coinbase shares unredacted FDIC letters urging banks to avoid offering basic Bitcoin services. The documents are unredacted versions of letters shared by Paul Grewal last month.

Metaplanet eyes upping Bitcoin holdings to 10K BTC in 2025. Metaplanet holds 1,762 Bitcoin and wants to increase its stash by 467% to hold 10,000 in total.

How Chinese Lending Firm Cango Became a Bitcoin Mining Powerhouse. Cango purchased 50 EH/s worth of mining power towards the end of 2024.

Crypto wallet Phantom quashes airdrop rumors after social feature launch. Crypto wallet Phantom clarified it has no plans to launch a token in response to rumors that circulated following the recent launch of social features on the app.

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? ✍️

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: C) Gas 🥳

Ethereum gas fees are the transaction fees users pay on the Ethereum blockchain to conduct transactions and execute smart contracts.

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HOW DID WE DO? 🤷

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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.