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🥜 Whales Aren't Here
PLUS: Nutshell Portfolio revealed
GM to all you crypto nuts. Crypto Nutshell #500 keepin’ it classy… 🍷🥜
We're the crypto newsletter that's more inspiring than an underdog boxer going the distance... 🥊🏆
What we’ve cooked up for you today…
🐈 MicroStrategy copy cats
🐋 Whales aren’t even here yet…
🤔 Is Bitcoin adoption increasing?
💰 And more…
Prices as at 3:15am ET
MICROSTRATEGY COPY CATS 🐈
BREAKING: Metaplanet continues to emulate MicroStrategy with planned $62M Bitcoin expansion
Tokyo-listed investment firm Metaplanet just announced plans to raise an additional $62 million.
In a November 28 statement, Metaplanet revealed that the funds will be raised through its 12th Series Moving Strike Stock Acquisition Rights.
And we know that sounds pretty complicated…
But all you need to know is that Metaplanet is raising funds to purchase even more Bitcoin.
Here’s what they had to say:
“We are prioritizing a Bitcoin-first, Bitcoin-only approach to treasury management. We have made it clear that we intend to utilize debt and periodic stock issuance to systematically increase our Bitcoin holdings while reducing exposure to a depreciating yen.”
CEO of Metaplanet, Simon Gerovich, also put out the following statement:
“We are committed to following the MicroStrategy playbook and accumulating as much Bitcoin as possible over time. We firmly believe this strategy will position us as one of the most valuable Bitcoin-focused companies globally.”
Since adopting a Bitcoin strategy, Metaplanet’s stock has been crushing it.
Currently it’s up over 1,358% year-to-date. (Making it one of Japan’s top stocks) 🤯
Metaplanet holds 1,142 Bitcoin in it’s portfolio, which it acquired for $75.3 million.
At today’s prices, Metaplanet’s holdings are worth ~$110.31 million. (That’s a gain of ~46.5%)
It’s been proven time and time again that a Bitcoin strategy successfully boosts a companies stock…
MicroStrategy pioneered the tactic and companies like Metaplanet and Semler Scientific have followed with great success.
So who will be next?
Well…
There’s a (small?) chance that it’s Microsoft…
On December 10, Microsoft is reportedly set to consider investing into Bitcoin. (That’s their next shareholder meeting)
Michael Saylor has also confirmed that he will be giving a 3-minute presentation to the board…
“The activist that put that proposal together contacted me to present to the board, and I agreed to provide a 3-minute presentation… That’s all you’re allowed—and I’m going to present it to the board of directors.”
We think there’s a pretty small chance Microsoft actually pulls the trigger on a Bitcoin investment.
But maybe Saylor can work some of his magic?
And if they do actually buy some Bitcoin…
The market will go absolutely bananas. 🍌
LAST CHANCE TO OUT-RETURN BITCOIN! 🚨
See exactly what we hold
The bull run is here, and the numbers speak for themselves…
Since creating The Crypto Nutshell Pro Portfolio:
Bitcoin has returned: +56.60%
Crypto Nutshell Pro Portfolio: +134.06%! (outperforming Bitcoin by over 2x!)
This phase of the bull-run is when altcoins dominate, and we’re here to help you capitalize on it. 🫵
Why join Crypto Nutshell Pro?
Portfolio Access - See exactly what we’re holding, including allocation percentages 💰
Top-Tier Altcoin Research - Exclusive recommendations that outperform the market 🤑
Buy/Sell Indicators - Know when to act to maximize your gains 📈
As part of our Black Friday Sale, we’re opening up another 20 spots to Crypto Nutshell Pro at 70% off
Forever.
But here’s the thing…
Once these spots are gone, doors will close until further notice.
Stop doing it alone - eliminate the guesswork this bull run and start outperforming Bitcoin today.
WHALES AREN’T EVEN HERE YET… 🐋
Bitcoin will hit $100,000 well before the end of the year.
What’s more?
The whales aren’t even here yet.
That’s the latest out of Shark Tank star, Kevin O’Leary. 🦈
Joining Fox Business, O’Leary started by predicting we’ll see a $100,000 Bitcoin, well before the year ends:
“Bitcoin is going to hit $100,000 long before the holiday I think. It’s so close and there’s no resistance here.”
O’Leary then pointed out that, despite Bitcoin’s massive surge, the whales of the financial world are yet to dive in:
“The truth is, sovereign wealth has still yet to get involved… but when they come on, this will go and go and go, because they’re agnostic to the price. They’re going to hold it for 10 years.”
If you didn’t know what sovereign wealth is, it refers to the money held and managed by countries.
This is often, hundreds of billions if not trillions of dollars.
For example:
Norway manages $1.75 trillion 🇳🇴
Kuwait manages $801 billion 🇰🇼
Abu Dhabi manages $790 billion 🇦🇪
Saudi Arabia manages $700 billion 🇸🇦
Sovereign wealth represents the true whales of the financial world.
O’Leary believes that they are coming, but have not yet arrived.
Once they do… 💣
IS ADOPTION INCREASING? 🤔
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.
But there’s a slight catch…
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 52,599,422 addresses holding at least a little Bitcoin.
Year-to-date, this metric has increased by 878,284 wallets.
An increase of almost 1 million wallets is HUGE. (and the years not even over yet)
However, you may have noticed that growth has somewhat stalled…
In fact, this metric hit an all-time high of 53,180,054 all the way back in June of this year.
But…
Since the mini “crash” from June to July, this metric has been steadily increasing over the past 4 months.
Here’s the thing with this metric:
The overall trend is what we’re really looking at.
And whilst recent growth has somewhat stalled, if you zoom out a little that trend is no doubt still up and to the right.
CRACKING CRYPTO 🥜
MetaMask integrates Venmo to enhance fiat-to-crypto onramp options. The Venmo integration is currently only available for US users.
Bitcoin Could Hit as High as $124k Before Year-End, Says ARK Invest Analyst. "We are about 55% to 65% of the way" to the end of the bull market, ARK Invest Research Associate David Puell told CoinDesk.
Ethereum L2s surpass record $51B TVL after 205% yearly growth. Layer 2s could be “cannibalistic” for Ether’s price potential, despite their scalability benefits, according to industry watchers.
Celsius to distribute $127 million to creditors in second bankruptcy payout. Celsius filed for bankruptcy in 2022 after its $1.2 billion balance sheet gap was revealed.
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”)
What does the "difficulty adjustment" in Bitcoin refer to? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: B) Adjusting how hard it is to find a new block 🥳
The difficulty is a number that represents how difficult it is for miners to add new blocks of transactions to the blockchain.
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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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