GM to all of you nutcases. It’s Crypto Nutshell #960 bringin‘ the news… 🥜

We’re the crypto newsletter that’s more obsessed with hodling than a cave-dwelling creature who chased one golden ring all the way to the crack of a volcano… 💍🌋

What we’ve cooked up for you today…

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BREAKING: Saylor signals Strategy is 'Back' to Bitcoin buying

For two months, the most relentless buyer in Bitcoin bought nothing.

On Sunday, Michael Saylor posted a chart of Strategy's holdings and captioned it “We're Back.”

No purchase has cleared yet…

But Saylor does have a habit of dropping a cryptic post over the weekend, then confirming the buy in a company filing on Monday morning.

It either turns up in Monday's filing, or it doesn't.

The pause was deliberate.

Strategy's machine runs on selling its own stock at a premium to the Bitcoin behind it, then plowing the cash into more coins.

That premium thinned to almost nothing over the summer, so Saylor stopped buying and started hoarding dollars instead.

He built a $5.1 billion reserve and a separate $1.59 billion pool earmarked for Bitcoin, close to $6.7 billion in dry powder waiting on exactly this call.

When Strategy went quiet, Bitcoin was pushing $80,000.

It's since slipped back under $78,000, so the same war chest buys more coins today than it would have a week ago.

His 840,447 Bitcoin already sit around $2.8 billion above what he paid, and Bitcoin's share of the whole crypto market is back above 60%.

For a company whose entire model is to buy and never sell, sitting out for two months was always the anomaly.

Monday's filing is the part that counts. 🚀

The next Apple may already exist. Insider sources say Elon has spent two years building a secret device inside Tesla's facilities — one he claims will be "10x bigger than the largest product in history."

There's just one problem: the company is private, and unless you know Elon personally, you can't buy a single share. That was true until Guardian's research team found three public ticker symbols sitting in the launch supply chain.

Click here to see all 3 tickers, free of charge.

You won't hear these names on CNBC — Wall Street hasn't published a word on the connection. But when the launch hits September 21, that quiet ends.

Some are already calling this the biggest opportunity since AI. For anyone who missed Apple before the iPhone, this may be a second look at that kind of setup.

Get the 3 ticker symbols here.

Unlock the free briefing now.

Fred Krueger reckons the scariest headline hanging over Bitcoin might not survive contact with physics.

He's a Stanford PhD mathematician, a former Wall Street prop trader, and the author of "Bitcoin One Million."

Here's what he posted:

A quantum computer big enough could one day crack the cryptography guarding every Bitcoin wallet and forge the signatures that move coins.

Doing it takes an estimated 835 logical qubits (the stable, error-corrected kind) running Shor's algorithm, the routine that unpicks the math behind a private key.

Krueger's argument leans on new work from Oxford physicist Tim Palmer, who thinks there's a hard ceiling near 400 qubits that no machine can cross.

If Palmer's right, no one ever builds the machine that breaks Bitcoin.

Temper it, though.

Palmer's ceiling is one physicist's hypothesis, not accepted science, and it's a testable prediction that could break as machines scale.

Google and IBM keep stacking qubits every year, and the industry is already hardening for a "Q-day" regardless, with Ripple aiming for quantum-resistant signatures by 2028.

None of this puts the quantum question to bed.

But the threat that gets sold as a countdown may not have a working clock behind it.

Call it a tail risk worth tracking, not a reason to touch your stack.

For now, the math still guards the vault. 🔒

Let’s kick off the week with a look at the Bitcoin HODL Waves, one of the clearest snapshots of market conviction.

Each coloured band represents the percentage of Bitcoin that last moved within a specific time frame.

The cooler the colour, the older the coins, with purple showing Bitcoin that hasn’t moved in 10+ years.

Today we’re focusing on long-term holders (LTHs), defined as coins held for more than six months.

Here’s how the Bitcoin supply breakdown looks today compared to two weeks ago:

TL;DR: 80.92% of all Bitcoin has not moved in over six months. 🔒

Down from 81.39% two weeks ago, a 0.47% slip and the biggest give-back this base has printed in months.

Nearly all of it came from the front, where the 6-12 month band shed 0.87%.

Some of that aged forward, lifting the 1-2 year band 0.44% as coins crossed their birthday, and the rest dropped back below the six-month line into short-term hands.

Deeper in, the coins barely stirred, with the 7-10 year and 10-year-plus cohorts unchanged to the decimal.

So the selling came from the youngest long-term holders, coins bought into last year’s lows and cashing a slice into the run past $80,000, while the deep base sat still.

That works out to roughly 93,000 Bitcoin crossing back under the six-month line this fortnight.

For now it’s only the newest long-term coins on the move, and the multi-year base hasn’t budged. 💎

Crypto.com-linked Cronos network halts after Tectonic exploit estimated at $75 million. The chain halted after an attacker inflated the illiquid TONIC token and borrowed against it, draining an estimated $75 million.

Kalshi becomes exclusive prediction market partner of US Open: report. The deal reportedly bars rival prediction platforms from advertising at the tennis tournament and on its ESPN broadcasts.

Russia's Sber eyes USDT loans, questions digital ruble demand. Russia's largest bank plans to accept USDT and Ether alongside Bitcoin as loan collateral under the country's new regulated crypto trading rules.

Chainalysis accuses ICE of unfairly steering $95 million blockchain contract to TRM Labs. Its lawsuit asks a federal court to block the contract and force ICE into a full and open competition.

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Cold wallets store your private keys offline, on hardware or paper, keeping your funds out of reach of online hackers.

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