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- 🥜 Where art thou Banana? 🍌
🥜 Where art thou Banana? 🍌
PLUS: Asia's MicroStrategy does it again
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GM to all you crypto nuts. Crypto Nutshell #373 runnin’ the circus.. 🎪🥜
We’re the crypto newsletter that’s more heartwarming than an unlikely friendship between a boy and a dragon... 🐉👦
What we’ve cooked up for you today…
🏦 Corporate BTC adoption
🍌 The banana zone, is it here?
😮 July hopium
💰 And more…
MARKET WATCH ⚖️
Prices as at 6:45am ET
Only the top 20 coins measured by market cap feature in this section
CORPORATE BTC ADOPTION 🏦
BREAKING: Metaplanet acquires more Bitcoin as market rebounds to $63k
“Asia’s MicroStrategy” has done it again.
In a recent filing, Metaplanet announced that they purchased an additional 20.2 Bitcoin for ¥200 million (~$1.2 million USD).
As of July 1, the company now holds 161.27 Bitcoin acquired for ~$10 million at an average purchase price of $63,500.
At first glance you may be wondering why we’re talking about this random Japanese company purchasing 20.2 Bitcoin…
But here’s the thing.
They aren’t a Bitcoin or a crypto company.
Metaplanet (publicly traded on the Tokyo Stock Exchange) originally specialised in hotel development and real estate.
But now they’ve shifted their attention towards Bitcoin, following the exact playbook of Michael Saylor’s MicroStrategy.
And since adopting a Bitcoin strategy, Metaplanet’s stock price has increased by 525% 😱
With this recent purchase, Metaplanet now has the 28th largest Bitcoin holdings out of publicly traded companies.
But out of this list, they’re one of few that aren’t a Bitcoin / crypto focused company.
Corporate adoption of Bitcoin is increasing and it’s a proven strategy to increase a company’s stock value.
The question now on everyones mind:
Who will be next? 🤔
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THE BANANA ZONE, IS IT HERE? 🍌
We are about to witness the largest wealth accumulation event in history.
That’s the message macroeconomic expert, Raoul Pal, is trying to drive home.
In his latest update to investors, Raoul explained that the banana zone is just about to begin.
For those of you who have no idea what we mean by “the banana zone” here’s a quick definition:
The Banana zone refers to the period of intense upward price action typical of crypto bull markets - coined by Raoul Pal
Kicking things off, Raoul had this to say:
“This is probably the last chance you are going to get to buy these big layer 1’s before we hit the banana zone. This is now the start of the banana. And it should continue all into next year.”
And he’s even got some charts to back this claim up.
Let’s break them down.
Altcoin season is coming
The chart below shows the Altcoin market cap excluding Ethereum (in black) from March 2020 - January 2022.
And the red line is the current cycle.
Notice how this cycle is almost a perfect mirror of last cycle?
That’s why Raoul is predicting a 10x in the altcoin market cap, meaning altcoin season is just around the corner.
“Look what lies ahead… The banana zone. The banana zone is when all sorts of crazy stuff starts happening. It’s suggesting here that we could see a 10x of altcoins excluding Ethereum. That’s a lot. That’s a huge move.”
Altcoin market cap current cycle vs 2020 - 2022
Cycle phases
According to Raoul, each crypto cycle has distinct phases.
The Bitcoin Halving, The Boring Zone and The Banana Zone.
In the chart below, Raoul has overlayed the current cycle (red) on the the 2016-17 cycle (black).
That’s because Raoul believes this cycle is playing out more similar to 2016-17 than 2021.
“We did the Bitcoin halving zone. The boring zone is completing now. And next we go into the full banana zone. That’s the 2016 Bitcoin halving cycle, it’s the most similar to me right now. I think it more likely plays out like the 16-17 cycle than it does the 2021 cycle.”
Current cycle vs 2016-2017
Your reward
If you do manage to hold on throughout the bull market, this is your reward:
This is the Banana zone. 🍌
Raoul explains:
“These are the bananas, that curve on the chart is the reward you are going to get for holding on for your dear f*cking life… Just let it all play out. Patience is a virtue.”
Price action of previous Bitcoin cycles
Raoul closes out the video with the following:
“I honestly think this space going from $2.5 trillion to $100 trillion by 2032 is going to be the biggest largest wealth accumulation in history.”
The banana zone is coming…
The real fun is about to begin. 🍌
JULY HOPIUM 😮
We heard you guys were in need of even more hopium (in case the banana zone talk wasn’t enough).
So we’ve got a good one for you today.
The chart below shows Bitcoin’s monthly returns.
On average June has been a pretty flat month for Bitcoin, averaging returns of -0.35%.
And June 2024 proved to be a little lackluster, seeing Bitcoin fall 6.96% over the month.
BUT…
July has historically been a good month for Bitcoin, averaging returns of 7.32%
But here’s where it gets even better…
Every single time Bitcoin had a drawdown in June, it had an upswing in July (2013, 2018, 2020, 2021 & 2022).
The last 5 times we saw a drawdown in June, July returned 17.92% on average.
So based on past performance we can expect July to be a pretty solid month for Bitcoin.
And it’s already proving to be…
Almost immediately upon entering July, Bitcoin shot up to ~$63,000.
So there’s your daily dose of hopium.
Let’s see this July trend continue. 😈
CRACKING CRYPTO 🥜
Vitalik Buterin calls U.S. crypto regulatory approach ‘anarcho-tyranny’. Vitalik Buterin, co-founder of Ethereum, has once again voiced his concerns regarding the state of cryptocurrency regulation.
Hawaii crypto firms no longer need MT license, regulator rules. Hawaii regulators have exempted cryptocurrency companies from receiving the Money Transmitter License to run business in the state.
Sony to Restart Japanese Crypto Exchange Whalefin Purchased From Amber Group in 2023. The technology giant has dabbled in Web3 through partnerships and investments in startups.
SEC Expected to Approve Ethereum ETFs. BlackRock and Grayscale Await July 8 Decision.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
p.s. all completely FREE
Raremints (link) - Daily crypto news
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The Hustle (link) - Get Smarter on Business and Tech
Your Next Breakthrough (link) - Personal growth with Mark Manson
Bullseye Trades (link) - Daily stock market tips
The Neuron (link) - AI trends and tools to keep you ahead
CAN YOU CRACK THIS NUT? ✍️
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MEME CORNER 😂
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Trivia Answer: B) 50 Bitcoin 🥳
If you were mining Bitcoin back in 2009, you’d be earning 50 Bitcoin per confirmation!
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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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