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GM to all you crypto nuts. Crypto Nutshell #452 shootin’ by…  💫 🥜

We're the crypto newsletter that's more suspenseful than surviving a night of purging... 🔪🕛

What we’ve cooked up for you today…

• 🕵️ Who is Satoshi Nakamoto?

• 🙏 The only hope…

• 📈 How many wallets?

• 💰 And more…

MARKET WATCH ⚖️

Only the top 20 coins measured by market cap feature in this section

WHO IS SATOSHI NAKAMOTO? 🕵️

BREAKING: New HBO documentary aims to reveal Bitcoin creator Satoshi Nakamoto's true identity

Who is Satoshi Nakamoto?

More than 15 years after the creation of Bitcoin, this question still remains a mystery.

Nakamoto, the alias behind the creator of Bitcoin, vanished in 2011 after declaring “I’ve moved on to other things”.

(This absolute chad just created the hardest money in the history of mankind and dipped…)

But…

An upcoming HBO documentary, set to be released on October 9, believes they have the answer.

This documentary was created by Cullen Hoback who’s best known for his HBO miniseries “Q: Into the Storm”.

This is what Hoback had to say:

Continuing on, Hoback explains:

Now, this isn’t the first time that someone has put a face to Satoshi Nakamoto.

Some believe Satoshi is Adam Back. Others think it was Hal Finney.

There’s a lot of theories out there…

But Galaxy Digital’s Head of Research Alex Thorn claims that the documentary will reveal Len Sassaman as Satoshi Nakamoto.

This isn’t a new theory, some have speculated that Sassaman was Satoshi in the past.

Checkout the article that Alex references here.

It’s an excellent break down of who Len Sassaman was and how he contributed to the development of Bitcoin.

Here’s why people are so interested in finding out Satoshi’s identity…

Satoshi is estimated to be holding 1.1 million Bitcoin.

These coins have never moved and are spread across thousands of wallets.

And at today’s price of ~$61,000 Satoshi is sitting on a paper net worth of $67 billion. 🤯 

There’s still a risk that Satoshi could one day dump these coins onto the market…

But with no coins moving within 15 years, that’s a pretty good sign that they’ll stay dormant…

It’s so wild that Satoshi has remained anonymous after all these years.

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THE ONLY HOPE… 🙏

Millennials and Gen Z have a problem.

They are the first generation that are faced with a worse quality of life than that of their parents. 😳

There’s only one hope left.

That’s the latest out from Raoul Pal.

Because of money printing, inflation has made buying a house, car and everyday items incredibly expensive.

Wages haven’t gone up to match.

This is best shown by looking at house prices vs. wages:

In his latest update, Raoul Pal pointed out that a consequence of this is increased gambling:

This makes sense, as cost of living increases & upwards mobility decreases, more people resort to gambling at the hopes of winning a better quality of life.

We can see this gambling trend playing out in crypto, with the majority of coins that have outperformed Bitcoin being memecoins:

Raoul believes this trend is only going to continue:

With the progression of A.I, things will only get worse.

A.I will take the majority of white-collar jobs & creating startups will become even more difficult.

So, if this trend is only going to worsen & accelerate, what should we do?

Gamble at the only place you can win. 🎰

Bitcoin, crypto & tech are the only sectors that consistently out-perform the rate of monetary debasement.

As the great Albert Einstein once said:

HOW MANY WALLETS? 📈

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.

Keep in mind though, 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 52,509,366 addresses with a positive balance.

The past month has seen this metric increase by 91,673 wallets.

But the real power of the metric is when you look at it on a yearly basis.

And so far this year has seen it increase by 788,228 wallets.

The trend of this chart is pretty much only up and to the right…

Which leads to a simple takeaway:

Bitcoin adoption levels are increasing every single year.

CRACKING CRYPTO 🥜

Visa to launch live platform to help banks issue digital tokens in 2025. Payment giant Visa's VTAP aims to transform banking with blockchain technology.

Banks to join SWIFT digital asset trials in 2025. SWIFT said it is uniquely positioned to interlink the fragmented digital asset landscape with its forthcoming digital currency trials in 2025.

NFT Mania Is Back? Maybe Not, but a CryptoPunk Just Sold for a Record $56.3M. Punk 1563 changed hands for 24,000 ETH, a huge markup versus recent pricing.

'Prediction markets work better' for forecasting elections, Kalshi CEO Tarek Mansour says. Prediction markets like Kalshi deliver real-time information unlike polls that can take up to two weeks.

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

• Crypto Pragmatist (link) - Actionable alpha 3x a week

• 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: D) Satoshi Nakamoto 🥳

Satoshi Nakamoto created Bitcoin in 2009. The name "Satoshi Nakamoto" is the pseudonym for the person or people who introduced the concept of Bitcoin in a 2008 paper.

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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.