GM and welcome to The Crypto Nutshell! 🫶 🥜 

The crypto newsletter that’s almost as good as renting Jurassic Park at Blockbusters on a Friday evening with your dad… the good ol’ days 🤩 🦕 

Today, we’ll discuss:

• Recapping the last 24 hours in the world of crypto 🌏

• Michael Saylor: Bitcoin is the only option 💰

• BTC supply held by long-term holders hit an ATH? 📈

• And more…

MARKET WATCH ⚖️

BTC Dominance is currently at 49.92% and the current crypto market cap is $1.20T ▲2.25%

Biggest Winners of The Day 🤑

• XRP (XRP) ▲5.29%

• Bitcoin Cash (BCH) ▲5.08%

• Solana (SOL) ▲4.79%

Biggest Losers of The Day 😭

• Polygon (MATIC) ▼0.88%

• Polkadot (BCH) ▼0.28%

Only the top 20 coins measured by market cap feature in this section

Wanna hear something CRAZY? 🤯

Presidential candidate RF Kennedy Jr. dropped two bombshells in his latest Heal-the-Divide PAC talk:

• Promised to eliminate capital gains tax on Bitcoin if elected

• Plans to back the U.S. Dollar with Bitcoin

These are some WILD promises from the presidential candidate, let us know in the replies how you think these would impact the economy and crypto market.

All price data as of 7:50am ET

EXPERT OF THE DAY - MICHAEL SAYLOR 🚢

Michael Saylor Has seen ENOUGH. Bitcoin is going to $1 Million+….

Saylor believes that Bitcoin is totally Binary. It’s Either a zero or its a one. It’s either worth NOTHING or its going to $1 Million dollars a coin.

Michael Saylor was a billionaire before all of this & had built generational wealth before his journey into Bitcoin.

Yet when he came to fully understand Bitcoin it dawned on him. 🤔

Bitcoin was the most important and revolutionary thing he had ever seen in his entire career.

Bigger than the mobile phone 📱

Bigger than the internet 💻

Bigger than Amazon 📦

Bigger than Apple 🍎

Not only has he bet all of his money on it, but also his entire company and reputation as well.

A man that already had the world.

Went all-in on Bitcoin.

In his latest interview with Alt-Coin Daily, Saylor broke down why BlackRock entering the Bitcoin arena is such a watershed moment for the industry.

His main takeaway?

Now there’s no chance of Bitcoin ever going to zero. 🤯

Now that Bitcoin has the backing of the biggest asset managers in the world, BlackRock, fidelity and Charles Schwab…

It’s clear that there’s no scenario in which Bitcoin goes to zero.

Which begs the question?

Just how high can Bitcoin go? 🤷‍♂️

ON CHAIN DATA DIVE 📊

The Total Supply Held by Long-Term Holders (BTC) is rising. What does this mean? Let’s get to it.

First what is a Long-Term Holder?

Glassnode (where this data comes from) uses a holding period of 155 days as the cutoff point from short-term holder to long-term holder. Data shows that after 155 days of holding you are increasingly unlikely to trade those coins anytime soon.

So a Long-Term holder is anyone that has held their Bitcoin for longer than 155 days. Pretty simple.

🚨 Long-Term Holder Supply has reached an all time high of 14.5M BTC 🚨

Looks like long term investors are preferring to accumulate Bitcoin, rather than sell it off. 👀

Some key points we can take from this chart:

• A growing proportion of the coin supply is being held by investors that are less sensitive to short term price movements.

• As the supply available for purchase continues to shrink, positive price action is more likely (remember supply and demand?)

Nutty’s Takeaway: The growing amount of Bitcoin held by Long-Term holders is a bullish indicator. As this amount continues to grow, less and less Bitcoin is available for purchase on exchanges.

Going back to simple economics. When the demand out paces the supply, naturally the price will rise. 🐂 

Continue stacking those sats as we ride on into the bull cycle 🤠

CRACKING CRYPTO 🥜

TRIVIA TIME ✍️

Which of these options most closely describes a stablecoin?

• A) A virtual token that is created and controlled by the U.S. federal government

• B) A virtual token created for farmers

• C) A digital currency whose value is pegged to an underlying asset such as gold or the U.S. dollar

• D) A digital currency that can only be used at casinos

Find out the answer at the bottom of this newsletter 😀

MEME CORNER 😂

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

Trivia Answer: C) A digital currency whose value is pegged to an underlying asset such as gold or the U.S. dollar 🎉

If you’re still unsure what a Stablecoin is checkout this video from Whiteboard Crypto for an excellent explanation.

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.