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GM to all 57,9558 of you. Crypto Nutshell #268 touchin’ down. 👽🥜
We’re the crypto newsletter that's more breathtaking than free-falling from the edge of space... 🚀 🌌
What we’ve cooked up for you today…
😮 El Salvador surprises everyone
🤑 Don’t f*ck this up
⚖️ Bitcoin’s HODLers
💰 And more…
MARKET WATCH ⚖️
Only the top 20 coins measured by market cap feature in this section
EL SALVADOR SURPRISES EVERYONE 😮
BREAKING: El Salvador Has Thousands More Bitcoins Than Previously Known
Bitcoin-forward Central American nation El Salvador moved $400 million worth of Bitcoin into a cold wallet.
President Nayib Bukele tweeted out the following:
This tweet came as a surprise to everyone.
Previously, wallet trackers had El Salvador’s Bitcoin stash at less than 3,000 BTC.
You can check El Salvador’s wallet here if you’d like.
In addition to purchasing 1 Bitcoin every single day, Bukele explained that El Salvador has bolstered it’s Bitcoin earnings through:
Selling passports
Currency conversions for businesses
Bitcoin mining
Government services
This is also the first time that El Salvador’s Bitcoin holdings have been tied to a specific Bitcoin address.
Trackers previously relied on Tweets by president Bukele regarding El Salvador’s Bitcoin holdings.
Funnily enough as soon as this address was made public, donations started flooding in.
Some even as high as $1,000+ USD.
El Salvador adopting a Bitcoin strategy has proven itself to be a massive success.
Which nation state will be next to adopt crypto?
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DON’T F*CK THIS UP 🤑
How do you win in crypto?
Just buy and hold.
It really is that simple.
That’s the latest message out from Raoul Pal.
For those who don’t know Raoul, he’s the CEO & founder of Real Vision.
Raoul is a veteran in both crypto & financial markets, having first bought Bitcoin 10+ years ago..
In a recent YouTube video titled “How F*cked Are You?”, Raoul outlined just how f*cked our economic reality’s really are…
(highly recommend giving the full video a watch)
But there’s an answer.
And that answer is crypto.
“We have never been given an asset like crypto that has this risk-reward... Anyway you want to look at this asset, as long as it’s over a period of time. It’s by far and away the best asset we’ve ever been given. It’s also the best performing asset of all time.”
Raoul goes on to explain that every four years this same exact cycle occurs:
Crypto Spring (last year): best performing asset in the world
Crypto Summer (this year): best performing asset in the world
Crypto Fall (next year): best performing asset in the world
Crypto Winter (2026): worst performing asset in the world
With this knowledge, your job is simple. Just buy it and hold it. Don’t overthink this.
“It’s kind of simple, you don’t need to do anything. You just need to buy it and hold it.”
Raoul also outlined some basic rules to follow:
Own the main assets (Bitcoin & Ethereum)
Don’t trade around - Buy and hold
Don’t have FOMO
Don’t use leverage
Allocate (at most) 10% of your bag for degen activities - buying and trading memecoins, hunting that next 100x etc.
We love this advice from Raoul.
Keep it simple, don’t overthink things. Just buy and hold. (also nothing wrong with taking profits along the way)
BUT if you must satisfy those FOMO cravings from seeing people make insane returns on meme coins…
Only allocate 10% of your bag to this.
Remember for every 100x winner, there’s likely way more investors who lost it all…
BITCOIN’S HODLERS 💪
Today we’ll be taking a look at the Long / Short-Term Holder Threshold.
Here’s how this metric works:
🔴 Short-Term Holders (STHs): coins that have been held for less than 155 days
🔵 Long-Term Holders (LTHs): coins that have been held for more than 155 days
🟥 Short-Term Holder Cost Basis: all coins purchased in this price range are STHs
🟦 Long-Term Holder Cost Basis: all coins purchased in this price range are LTHs
This metric is extremely powerful as we can see exactly what price STHs and LTHs purchased Bitcoin at. 🔎
The STH / LTH threshold is currently at 14th October 2023, back when Bitcoin was ~$27,000. (isn’t it crazy that it’s more than doubled since than)
All coins purchased before this date are classified as LTHs.
All coins purchased after this date are classified as STHs.
Today there is currently 14,265,601 Bitcoin in the hands of LTHs. (72.57% of the circulating supply) 💪
Whereas the amount of coins held by STHs is only 3,130,655. (15.93% of the circulating supply)
For those of you that really know your stuff, you may have noticed that these numbers don’t add up to Bitcoin’s circulating supply.
That’s because exchange balances aren’t counted in this metric.
You may have also noticed that the amount of long-term holders has started to decline.
That’s typical of bull market’s as long-term holders finally decide to take profits with these price run-ups.
Don’t be fooled by the recent dip, long-term conviction in Bitcoin is still extremely high.
In fact, it’s basically still at an all-time high.😎
CRACKING CRYPTO 🥜
Asia's crypto revolution: Web3 growth in the East. Over the years, the Asia Pacific region (APAC) has established itself as an impressive environment for the rapidly growing technology industry.
Pro-XRP lawyer confident he can win Senate bid, sets $1M campaign goal. Pro-XRP lawyer John Deaton believes he can challenge Senator Elizabeth Warren despite her 11-year tenure.
Web3 Watch: Starbucks shutters its ‘Odyssey’ NFT program. Major coffee retailer Starbucks said on Friday afternoon it will be ending its NFT-enabled customer loyalty program, dubbed Odyssey.
WHAT WE’RE READING 📚
Want to get even smarter? Check these out.
p.s. all completely FREE
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: B) 2021 🥳
In May 2021, Chinese authorities ordered a crackdown on crypto mining and trading and regulators banned financial institutions from offering services related to cryptocurrencies.
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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.