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🥜 Turning Tide
PLUS: MicroStrategy buys
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GM to all you crypto nuts. Crypto Nutshell #436 hittin’ the cha-cha… 🪇🥜
We're the crypto newsletter that's more epic than Earth's mightiest heroes assembling to save the planet... 🦸♂️🌍
What we’ve cooked up for you today…
🏦 The King of Bitcoin
🌊 The tide is turning
📈 The election impact
💰 And more…
MARKET WATCH ⚖️
Prices as at 3:00am ET
Only the top 20 coins measured by market cap feature in this section
THE KING OF BITCOIN 🏦
BREAKING: Michael Saylor's MicroStrategy purchased $1.1 billion more in Bitcoin
He’s done it again…
Michael Saylor’s MicroStrategy has purchased an additional 18,300 Bitcoin for ~$1.11 billion at ~$60,408 per Bitcoin.
This brings MicroStrategy’s total Bitcoin holdings to 244,800 BTC which they purchased for ~$9.45 billion at ~$38,585 per Bitcoin.
Off the back of this purchase, MicroStrategy stock is up 8.18% on the day.
The purchase was funded by selling more than 8 million shares via a sales agreement with several financial institutions.
But…
Not everyone seems to believe that MicroStrategy’s Bitcoin play is such a great idea…
Currently MicroStrategy is sitting on unrealized gains of over $5.3 billion on their Bitcoin holdings.
That sounds like a success to us…
Bitcoin also shot up above $60,000 a couple of hours after Saylor broke this news.
Are we back? 🤨
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THE TIDE IS TURNING 🌊
At $60,000, Bitcoin is massively undervalued.
The market is completely wrong.
That’s the latest out from Samson Mow.
Samson Mow is the CEO of JAN3, a Bitcoin company aiming to accelerate hyperbitcoinization.
In his last interview, Mow broke down his current thoughts on Bitcoin.
In a nutshell?
The market is completely wrong.
“The market’s wrong. Bitcoin is massively undervalued right now at whatever it is, $56,000, $57,000 per coin.”
Samson likens Bitcoin to a beachball being held underwater. 🏐
There is so little Bitcoin out there. Yet buying pressure from the ETFs and institutions, continues to build:
“There is just so little Bitcoin out there. You can't double your holdings as a large entity at this point. It's going to shoot up.”
Samson points out that every quarter, massive institutions are continuing to buy Bitcoin. These include:
MicroStrategy
Semler Scientific
Tether
This is only going to continue as more and more institutions see the Bitcoin strategy playing out.
“You can see the tide already turning. But just like in The Big Short, the market takes time to realize what's happening. It's always going to be the people that are paying attention to bitcoin that see all these factors and are allocating to it.”
Samson is still standing by his $1 million by the end of 2025 prediction.
Although his prediction may not end up working out, we do agree with Samson on 1 thing:
The tide is turning. 🌊
THE ELECTION IMPACT 📈
We’ve got a quick and easy one for you today.
Yesterday we broke down an article from Standard Chartered stating that the US election doesn’t really matter.
Standard Chartered believe that it doesn’t matter who wins the election - Bitcoin is going up no matter what.
So why don’t we take a look at what happens to the price of Bitcoin around election time?
Here’s how to interpret the chart above:
🔵 Blue dotted line: Bitcoin halving
🟣 Purple dotted line: US Presidential election
⚫️ Price of Bitcoin
The orange circle highlights the period between the Bitcoin halving and US elections.
And as you can see…
Nothing much really happens during this period.
This is exactly what we are going through right now. Some even call it the “boring zone”.
It’s not until AFTER the US election that the price of Bitcoin really starts to move. 🚀
There’s only 51 days until the US election…
CRACKING CRYPTO 🥜
The SEC 'regrets confusion' it may have invited stating some tokens are securities. The US Securities and Exchange Commission (SEC) has filed an amended complaint against Binance in the District of Columbia.
Sam Bankman-Fried Appeals Fraud Conviction, Requests New Trial. The FTX founder is six months into a 25-year prison sentence.
Trump to launch World Liberty Financial crypto platform on Sept. 16. In a video posted on X, Donald Trump announced that his World Liberty Financial crypto project would launch on Sept. 16.
Ethereum Foundation researcher Danny Ryan steps away after seven years of contributions. Ryan attributes his departure to personal reasons and to create room for other opportunities.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
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Raremints (link) - Daily crypto news
Bullseye Trades (link) - Daily stock market tips
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
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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”)
Which public company currently holds the most Bitcoin? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) MicroStrategy 🥳
If you read the first section this should have been an easy one…
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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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