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GM to all 35,789 of you. Crypto Nutshell #200 blastin’ away. 🚀 🥜 

We’re the crypto newsletter more dependable than a man dressed as a bat, protecting his city from crime... 🦇 🌃

What we’ve cooked up for you today…

• 🤬 Gensler issues crypto warning

• 🍰 You just need 0.1 Bitcoin…

• 🤑 Here comes the money

• 💰 And more…

MARKET WATCH ⚖️

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

GENSLER ISSUES CRYPTO WARNING 🤬

BREAKING: SEC chair Gary Gensler issues warning on crypto ahead of spot Bitcoin ETF approval

Hype continues to build surrounding the Bitcoin ETF approvals.

So much so, today we saw Bitcoin hit a new 12-month high of $47,248.

However, in a suspiciously timed post, Gary Gensler outlined all the risks involved with crypto.

Gensler’s reasons for why crypto is a risky investment:

• Those offering crypto asset investments may not be complying with the law

• Investment in crypto assets is exceptionally risky and often volatile

• Fraudsters continue to exploit the rising popularity of crypto assets to scam retail investors into

Gensler’s statement isn’t that surprising.

He’s maintained the same stance against crypto ever since he became chair.

BUT, the SEC put out a warning against FOMO a day earlier…

Now that’s surprising…

The timing of Gensler’s Twitter thread and the SEC’s FOMO warning had the crypto community excited.

Why would Gensler randomly be making threads on crypto investing unless a spot Bitcoin ETF approval was about to drop… 🤔 

It’s pretty much a done deal at this point. (right?)

The Bitcoin ETFs could be approved annnyy second now. 🚀 

We’ll keep you in the loop!

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YOU JUST NEED 0.1 BITCOIN 🍰

Today, with all the ETF hype, we saw Bitcoin push to another yearly high.

Bitcoin is now up +171% in the last 12 months.

With such huge gains, we keep getting the same questions:

Am I too late to invest in Bitcoin?

Are all the exponential gains already gone?

Have I missed the boat?

This is best answered by the king of Bitcoin himself - Michael Saylor.

Michael Saylor believes Bitcoin will 215x from today’s price.

No - that wasn’t a typo.

Saylor believes Bitcoin is going to $10 million dollars per coin.

In his last interview with Altcoin Daily - Saylor broke down why even 0.1 Bitcoin should be a goal for investors.

Here’s Saylor’s thesis:

Bitcoin = New York.

New York was widely known to be the greatest & most prosperous city in North America by 1776.

Let’s say in 1776, you thought the price of real estate was too expensive.

You decide to wait 100 years to buy a block of land in New York City.

Would you have made a mistake by waiting?

Yes.

By 1776 it was common consensus that New York was the best city in the world.

It would have been reasonable to think that it was too late to invest in New York City.

But…

Were all the gains gone?

Were investors too late to the party?

Had the boat left the shore?

Absolutely not.

So… are you too late to Bitcoin?

According to Michael Saylor - absolutely not.

HERE COMES THE MONEY 🤑

Let’s take a look at the weekly crypto asset flows.

It’s been an incredible start it has been to 2024.

Bitcoin is rocketing to a 21-month high and money is pouring into crypto funds.

Last week, digital asset investment products saw net inflows of $151.4 million.

This brings total inflows since the Grayscale vs SEC lawsuit to $2.3 billion.

If you’re new around here, or not quite sure what we mean by digital asset investment products, checkout this short article.

Bitcoin was once again the dominant force, with inflows of $112.6 million.

Ethereum also saw considerable inflows with $29.6 million coming in for the week.

Unfortunately for Solana, it wasn’t the best start to 2024. Weekly outflows totalled $5.3 million.

Take note of the $1 million in short Bitcoin outflows, we’ll get to that later on.

Interestingly, the US saw the lions share of inflows last week. Accounting for over 55%, despite the Bitcoin ETFs not yet being approved. (this number is going to be insane once they are approved)

Germany and Switzerland followed with 21% and 17% of inflows respectively.

There’s been considerable discussion on whether the approval of the Bitcoin ETFs will be a “buy the rumour, sell the news” event.

Coinshares raises an interesting point :

Investors are refusing to bet against Bitcoin right now.

We are seeing them pull out out of their short positions…

A little scared, are we? 😱 😎 

CRACKING CRYPTO 🥜

SEC lists eight updated 19b-4 filings as spot Bitcoin ETF process nears deadline. The U.S. Securities and Exchange Commission (SEC) began to publish certain updated filings related to spot Bitcoin ETFs on Jan. 8.

Former SEC chair calls bitcoin ETF approval ‘inevitable’. Jay Clayton rebuffed spot bitcoin ETFs during his term, but he thinks the SEC is ready to give the green light.

Crypto index funds simplify investing but challenge blockchain ethos. Ultimately, choosing a cryptocurrency index fund is about investor goals and risk tolerance — personal finance remains personal.

Bitcoin jumps to 21-month high with ETF approval considered imminent. The latest rally came after BlackRock, Ark and several other prospective ETF issuers filed amended forms with US regulators.

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: C) Gas 🥳

Ethereum Gas is what users pay to process transactions or use smart contracts on the Ethereum network

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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.