The 51st Hoot

Scatt's Seeds for Thought:

🌱Bitcoin is the 10th Most Valuable Asset in The World 🌏

🌱Bitcoin Private Credit Fund? 🤑

🌱JPM CEO Comes After Crypto ❌

🌱Crypto Fund Flows in 2023 📊

Meme of The Week

Year-to-date Market Performance:

• S&P 500: 19.92%

• Dow: 9.35%

• Nasdaq Comp: 37.62%

• Bitcoin: 163.95%

• Ethereum: 96.34%

• Scatt Capital’s Fortune Strategy: 73.24% (Since Inception (12/22): 72.85%

Market News:

• 7-Day Change in Crypto Market Cap: +$12bn

• BOND MARKET EUPHORIA: HOW LOW WILL FED GO

• US PAYROLLS PICKING UP AFTER UAW STRIKE

• UK LAWMAKERS DON’T WANT A DIGITAL POUND

• BINANCE’S GROWTH LED TO COMPLIANCE FAILURES: CEO

• INVESTORS ARE BUYING UP BTC ANTICIPATING ETF APPROVAL

• EL SALVADOR’S BTC HOLDINGS SWING INTO PROFIT

• PANDO ASSET (SWISS ASSET MANAGER) FILES FOR BTC ETF

• IRS SEEING SURGE IN CRYPTO-RELATED TAX EVASION

• MICROSTRATEGY IS NOW $2BN+ IN BTC HOLDING PROFITS

• BRAZIL’S LARGEST BANK IS LAUNCHING CRYPTO TRADING

• SOCIETE GENERALE ISSUED FIRST GREEN BOND ON BLOCKCHAIN

• JOB OPENINGS HIT 2-YEAR LOW: WELCOMED BY FED

• ROBINHOOD CRYPTO TRADING ACTIVITY IS UP 75% M/M

• THE WEEK AHEAD: 

  • Consumer Price Index

  • Producer Price Index

  • FOMC Interest Rate Decision

  • Jobless Claims

  • US Retail Sales

Bitcoin is the 10th Most Valuable Asset in The World 🌏

The time has arrived.

Bitcoin is officially the 10th most valuable asset in the world.

The list includes companies, commodities (like gold and silver), and others.

The most valuable asset? Gold.

Over the last 10 years, Bitcoin has:

• Plummeted 80%+ on several occasions

• Been blamed for funding illicit activities

• Been banned by multiple countries

• “Died” 474 times

The most resilient of them all.

Bitcoin Private Credit Fund? 🤑

The AI chief is making his way into crypto.

That’s right… the same guy who started ChatGPT (the fancy chatbot)…

Is intertwining BITCOIN AND PRIVATE CREDIT.

A very cool concept.

The ‘Meanwhile’ Group is said to be raising a $100m Bitcoin private credit fund.

Small victory.

JPM CEO Comes After Crypto

The pure irony.

The billionaire, JPM CEO, and crypto despiser is back again.

During a senate hearing he said he was “deeply opposed to crypto”, and…

That he would “close it down“ if he were the government.

But you know what’s funny?

JPM has paid $39.3 BILLION DOLLARS in penalties and fines from fraud to violating regulations, to drug trafficking.

So ultimately, this proves 1 of the following:

1. He doesn’t understand how crypto actually works

2. He’s mind-numbingly stupid

3. OR… he knows what kind of a threat it poses to his bank (and all traditional banks for that matter)

Given the size of JPM and his stature… we’re inclined to go with No. 3.

Crypto Fund Flows in 2023 📊

Crypto is BACK.

Digital asset inflows totaled $176m last week.

This brings the 10-week total to $1.76bn, the highest since Oct. 2021.

Bitcoin saw $133m in inflows.

Ethereum saw $41m.

Blockchain stocks also experienced inflows!

The numbers are telling us a good story, and we’ve been on a good run lately.

Let’s keep it going.

If you like receiving market updates, check us out here on LinkedIn; here on Twitter; or here on Instagram 📊

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.