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🥜 What crypto is missing
PLUS: Saylor does it again
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What we’ve cooked up for you today…
🏦 The weekly Saylor buy
🧩 The one thing crypto is missing
🤑 Cashing in
💰 And more…
Prices as at 1:45am ET
THE WEEKLY SAYLOR BUY 🏦
BREAKING: MicroStrategy Buys Another 2,138 BTC, Adding to Stash for 8th Consecutive Week
Here we go again…
For the eighth week in a row, MicroStrategy announced another Bitcoin purchase. 🤯
This time MicroStrategy acquired an additional 2,138 Bitcoin for ~$209 million. (Average price of ~$97,837 per BTC)
This brings MicroStrategy’s total holdings to 446,400 Bitcoin, acquired for ~$27.9 billion. (Average price of ~$62,428 per BTC)
With this latest purchase, MicroStrategy now holds ~2.13% of Bitcoin’s total 21 million supply.
And at today’s prices, MicroStrategy’s Bitcoin holdings are worth ~$41.26 billion.
Which means they’re sitting on unrealized profits of ~$13.36 billion.
As we explained yesterday, Saylor once again teased this latest purchase by posting the following to Twitter on Sunday:
This also marks the eighth week in a row that MicroStrategy has purchased Bitcoin.
The previous seven weeks being:
December 22: 5,262 Bitcoin for $561 million
December 15: 15,350 Bitcoin for ~$1.5 billion
December 8: 21,550 Bitcoin for ~$2.1 billion
December 1: 15,400 Bitcoin for ~$1.5 billion
November 24: 55,500 Bitcoin for ~$5.4 billion
November 17: 51,780 Bitcoin for ~$4.6 billion
November 10: 27,200 Bitcoin for ~$2.03 billion
In total, that’s $17.9 billion worth of Bitcoin purchased in the last 8 weeks.
Although the purchases have been getting smaller over the last three weeks, these numbers are still absolutely insane.
As always, notorious Bitcoin skeptic Peter Schiff popped up to criticise Saylor’s announcement:
How many weeks in a row will Saylor and MicroStrategy purchase Bitcoin?
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THE ONE THING CRYPTO IS MISSING 🧩
There’s just one thing crypto is missing…
It hasn’t had its ‘Instagram’ moment yet.
That’s the latest out of from Mark Cuban.
In his latest interview, billionaire entrepreneur and Shark Tank Star Mark Cuban believes crypto is still lacking it’s mainstream “aha” use-case.
A use- case so compelling that your grandparents, neighbours, and everyone in between will need to use it.
“The challenge for crypto right now, in all candor, it hasn’t had its ‘Instagram’ moment.”
Mark is referring to 2009, the early days of the App Store. Before Instagram launched, it was mostly tech enthusiasts downloading apps.
But once Instagram arrived, it changed everything.
Suddenly, everyone—from casual users to grandparents—jumped on board, sparking a massive surge in smartphone & app adoption.
Cuban doesn’t believe crypto has had that moment:
“We haven’t had that moment with crypto yet... that doesn’t exist yet. And that’s kind of the ongoing hope.”
But what could become crypto’s “Instagram moment”?
We think there’s 2 leading contenders:
1. Prediction Markets
Prediction markets could be crypto’s ‘Instagram moment’.
Over 2024, Polymarket—the leading prediction market built on Polygon & Ethereum—experienced explosive growth:
Trading volume went from $54 million in January to ~$2 billion in October - an increase of 3600%.
Active users grew even faster, skyrocketing from 4,000 to over 191,000 in the same period.
Why?
It’s simple: Polymarket is faster, cheaper, and more accurate than any alternative.
Its odds even outperformed polls in predicting the outcome of the 2024 U.S. election.
With low fees and global access, it’s redefining how people bet on the future.
If prediction markets continue to go mainstream, they could be cryptos “Instagram moment.”
2. Stablecoins
Another contender for crypto’s ‘Instagram moment’ is stablecoins.
Last month, stablecoins like USDT & USDC surpassed Visa, processing $1.81 trillion in payments compared to Visa’s monthly average of ~$1.31 trillion.
It’s easy to see why: stablecoins are faster, cheaper, and more accessible than traditional payment options.
Transactions settle in seconds, cost a fraction of bank fees, and don’t rely on anyone.
Stablecoins are becoming the go-to payment system for millions of people.
If their adoption continues to surge, stablecoins might just be crypto’s “Instagram moment.”
It’s unclear if prediction markets or stablecoins will be crypto’s ‘Instagram moment,’ but one thing is clear: crypto’s momentum is unstoppable.
The “aha” moment is coming - it’s only a matter of time.
CASHING IN 🤑
Right now, the market is experiencing high levels of profit taking. (It has been for the past months)
And as we explained yesterday, this profit taking is predominantly coming from coins held between 6 and 12 months.
The chart below simply shows the total amount of profits being realized on-chain in USD terms.
Profit taking is currently at $2.7 billion on a 7-day moving average.
And whilst that is notably lower than the November 25 peak of $4.67 billion, it’s still considerably higher than “normal”.
(The 2021 cycle peaked at $3.8 billion)
This high level of profit taking is the reason that Bitcoin has been in a downtrend for the past couple of weeks.
But it’s really nothing to worry about…
Let’s put things into a little context:
The 2013 bull market saw 12 drawdowns with an average pullback of 34%
The 2015 to 2017 bull market saw 17 drawdowns with an average pullback of 31%
The 2020 to 2021 bull market saw 7 drawdowns with an average pullback of 24%
The main takeaway here is that as the market matures, these pullbacks are getting smaller and smaller.
Bitcoin is an extremely volatile asset, and that volatility works to both the upside and the downside.
Keep in mind, since the US election Bitcoin is still up 36.53%…
CRACKING CRYPTO 🥜
Hong Kong lawmaker advocates including Bitcoin in national reserves. Wu Jie believes Hong Kong's strategic move towards Bitcoin integration could enhance economic resilience and attract innovative businesses.
BTC price 'breakdown confirmed?' 5 Things to know in Bitcoin this week. Bitcoin is struggling to preserve monthly support, but below the surface, BTC price metrics are giving bulls cause for confidence.
Crypto Scammers Are Now Stealing From Other Crypto Thieves. Scammers use a sophisticated type of wallet to trick wannabe thieves, who may lose small amounts of a token.
Grayscale Research adds six tokens to its 'Top 20' for next quarter. Grayscale noted that the decision to include these tokens was based on network growth and adoption
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
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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”)
How often is Bitcoin's mining difficulty adjusted? |
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: A) Every two weeks 🥳
Bitcoin mining difficulty is a process that automatically adjusts the difficulty of finding new blocks in the Bitcoin blockchain every 2,016 blocks, or about every two weeks
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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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