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GM to all 96,759 of you. Crypto Nutshell #549 ploddin’ on… 🦛 🥜

We're the crypto newsletter that's more exhilarating than pulling off the most impossible heist in Las Vegas history... 🎰💰

What we’ve cooked up for you today…

• 🏦 Is it happening?

• 🤨 Thank me later…

• 📈 Higher and higher

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

IS IT HAPPENING? 🏦

BREAKING: Trump’s ‘crypto czar’ floats Bitcoin reserve as White House pushes Wovereign Wealth Fund

Crypto Czar David Sacks just outlined the new administrations broad pro-crypto agenda.

The speech touched on stablecoins, pro-crypto regulations and cleaning up a lot of issues caused by the previous administration.

(Checkout the full press conference here)

But we know what you’re really looking for…

Was there any mention of the strategic Bitcoin (crypto?) reserve?

Yes. Yes there was.

Finally we have some more info on the Strategic Bitcoin Reserve.

Here’s what David Sacks had to say:

Continuing on, Sacks explained that they are still waiting on a number of cabinet officials to be confirmed:

The interesting thing to point out here is that David Sacks himself explicitly used the word “Bitcoin”.

If you can remember back to two weeks ago, Trump signed an executive order forming this “digital assets working group”.

That executive order tasked the working group to evaluate the creation of a “national digital asset stockpile”. (No mention of Bitcoin anywhere to be seen)

At least this time we have some confirmation of what may be included in the stockpile.

Appearing on an interview with CNBC later in the day, David Sacks also had this to say:

To us this sounds like it’s happening…

We just have to wait a little longer.

What an insane timeline. 🚀

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THANK ME LATER… 🤨

The son of the President of the United States just said it’s a great time to buy Ethereum.

That’s not a joke. 🤯

In case you weren’t familiar with the Trump family structure, Eric Trump is Donald Trump’s third child.

Yesterday, he posted this to his twitter:

However, Eric edited this tweet, twice. Here’s the original versions:

“You can thank me later.” 👀

What’s interesting is that Eric is a long-time friend of Michael Saylor…

But he doesn’t seem to share Saylor’s singular passion for Bitcoin.

As a reminder: The Trump family's DeFi project, World Liberty Financial, currently holds $210+ million in Ethereum.

That’s almost 4x their Bitcoin holdings.

Probably not the best time to bet against Ethereum. 🎰

HIGHER AND HIGHER 📈

Time for a check in on one of our favourite charts.

The supply last active 1+ years ago metric is super simple to understand and extremely useful.

It categorises coins based on how long it’s been since they last moved on-chain. (As a percentage of the circulating supply)

• Metrics rising: long-term holders are accumulating coins 📈

• Metrics declining: long-term holders are selling coins 📉

Here’s the breakdown for each cohort (compared to what it was 2 weeks ago):

• 🔴 Supply last active 1+ years ago: 62.91% (up from 62.13%)

• 🟠 Supply last active 2+ years ago: 53.09% (down from 53.36%)

• 🟢 Supply last active 3+ years ago: 45.58% (up from 45.31%)

• 🔵 Supply last active 5+ years ago: 30.52% (down from 30.70%)

Bit of a mixed bag this time…

The 1+ and 3+ age bands both saw increases totalling 1.05%.

Whilst the 2+ and 5+ age bands both saw decreases totalling 0.45%

Despite some movement in the 2+ and 5+ age bands, the net effect is that more supply is aging into long-term holding.

True long-term holders are holding out for higher and higher prices…

CRACKING CRYPTO 🥜

Bitcoin ETFs see $234M in outflows after Trump’s tariff war. President Trump's tariff announcements triggered a dramatic shift in spot Bitcoin ETFs, resulting in $234M in outflows.

SEC is evaluating ‘retroactive relief’ for past coin offerings. SEC Commissioner Hester Peirce said on Feb. 4 that the agency is reconsidering whether certain types of crypto assets are securities.

Ether Worth Nearly $1B Left Exchanges Monday as Trade War Fears Sent Prices Crashing. Data shows investors likely bought the dip, snapping up ETH at lower prices.

Peter Thiel-backed Bullish Global considers IPO. Bullish Global develops financial services for the digital assets sector and operates a cryptocurrency trading platform.

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) - Daily 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: B) 10,000 🥳

May 22 marks the anniversary of the day a Florida man paid 10,000 BTC for two pizzas in the first Bitcoin transaction.

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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.