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GM to all 96,759 of you. Crypto Nutshell #550 floatin’ by… 🦦🥜

We're the crypto newsletter that's more magical than a group of kids biking through the night to help an alien phone home... 🚲🌕

What we’ve cooked up for you today…

• 🏦 Rebrand

• 🕵️ Who’s buying?

• 📉 Big deal

• 💰 And more…

What’s in the Crypto Nutshell Portfolio?

REBRAND 🏦

BREAKING: MicroStrategy rebrands as 'Strategy' in move to emphasize its Bitcoin position

It was only a matter of time.

We all know that MicroStrategy is “all-in” financially when it comes to Bitcoin…

But now they’ve gone all in on the marketing side of things as well…

Earlier today Michael Saylor announced MicroStrategy’s new name is officially “Strategy”. (The logo also includes the famous Bitcoin logo)

The company’s core business operations will remain the same following this rebrand.

Since Strategy adopted Bitcoin as a treasury reserve asset, it’s market cap has exploded to a staggering ~$85 billion.

(It’s going to take a while to get used to calling them “Strategy”…)

The large majority of Strategy’s market cap is based on it’s Bitcoin holdings, so this rebrand makes complete sense.

Here’s the official statement from Strategy:

And here’s what Strategy CEO, Phong Le, had to say:

To be fair, there was never anything “Micro” about their Bitcoin strategy.

The Big Game Is Just Around The Corner… 🏈

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WHO’S BUYING? 🕵️

This week saw the largest liquidation event in crypto history—even bigger than the collapse of FTX. (that’s insane)

But for every seller, there’s a buyer.

So, who was buying?

First off, earlier this week, technical analyst Pentoshi noted heavy ETF buying:

This was later backed up by Matt Hougan, Bitwise's Chief Investment Officer:

So far in 2025, Bitcoin ETF buying is up ~68.41% compared to 2024.

Then when you look on-chain, who’s buying becomes abundantly clear:

It’s the same old story:

• Retail holders are panic selling

• Institutions are snapping up cheap coins

That’s why they’re called "smart money."

PSA: Don’t let them take your coins.

It’s the oldest trick in the book…

BIG DEAL 📉

Today we’ll be checking in on the amount of Ethereum available for sale on exchanges.

Here’s how to interpret this metric:

• Decreasing exchange balances: Bullish indicator as it signals a shift towards long-term holding 🐂

• Increasing exchange balances: Bearish indicator as coins being transferred to exchanges are more likely to be sold 🐻

Currently there is 12,834,566 Ethereum available for sale on exchanges.

That’s ~10.69% of the entire circulating supply.

But…

That’s also marks an increase of 235,818 ETH over the last two weeks.(~$651.34 million at today’s prices)

These are the “panic sellers” we were talking about in the previous section. (Even though that section focused on Bitcoin, the same applies to Ethereum)

When ETH is transferred to an exchange, we can safely assume that it’s for the purpose of selling.

However…

Why don’t we zoom out a little?

Over the last year, ETH exchange balances have decreased by 1,141,702 ETH!

That’s ~$3.17 billion at today’s prices.

And with ~89.31% of the supply no longer sitting on an exchange…

That’s a big deal.

CRACKING CRYPTO 🥜

XRP Ledger resumes activity after second outage in three months. Ripple's XRP Ledger resumes operation after second outage raises concerns about the network stability and resilience.

SEC is scaling back its crypto enforcement unit. The SEC’s 50-person crypto unit is getting a shakeup with some staff reassigned to other areas, The New York Times reports.

Blackrock Plans to Launch a Bitcoin ETP in Europe. The fund would be based in Switzerland and BlackRock could start marketing it as soon as this month.

Sen. Warren takes a stand on crypto debanking and criticizes banks for closing accounts. The Federal Deposit Insurance Corporation released 175 documents on Wednesday morning tied to how the agency supervised crypto-related activity.

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) - Daily Bitcoin news

• Techpresso (link) - Daily tech news and insights

• 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”)

MEME CORNER 😂

Because what would the crypto world be without its share of memes?

Trivia Answer: D) Namecoin 🥳

The first Altcoin was Namecoin, developed based on the cods of Bitcoin in April 2011.

GET IN FRONT OF 95,000+ CRYPTO INVESTORS

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HOW DID WE DO? 🤷

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NUTCASE REVIEW OF THE DAY 🔍

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.