The 59th Hoot

How Many People Own Crypto? 🌏

February 5th, 2024

Scatt's Weekly Seeds:

🌱Bitcoin Halving Price Predictions 🤑

🌱How Many People Own Crypto? 🌏

🌱DCA: Bitcoin Edition 🖨️💰

🌱Bitcoin ETF Flows: Close Up 👀

Meme of The Week

Year-to-Date Returns:

  • S&P 500: 3.96%

  • Dow: 2.56%

  • Nasdaq Comp: 4.11%

  • Bitcoin: 2.59%

  • Ethereum: 0.63%

  • Scatt Capital’s Fortune Strategy: 4.39% (Since Dec. 2022 Inception): 49.28%

News Breakdown:

Crypto Market:

  • 7-DAY CRYPTO MARKET CAP CHANGE: +$3BN

  • CRYPTO INVESTMENT PRODUCT FLOW: -$500M

  • FTX OFFLOADS ASSETS TO RAISE CASH & PAY BACK CUSTOMERS

  • SPOT BTC ETFS HIT $14.8M DAILY NET INFLOW

  • SEC LIKELY TO APPROVE ETH ETF MAY 23RD: STD. CHARTERED

  • GERMAN POLICE SEIZE $2.1BN BTC IN PIRACY OPERATION

  • TETHER (STABLECOIN) MADE MORE MONEY THAN GOLDMAN SACHS LAST QUARTER

  • UK POLICE UNCOVER $1.7BN LAUNDERED BTC FROM $6BN CHINESE INV. FRAUD

Credit & Debt Markets:

  • 10-YR TREASURY YIELD: 4.023%

  • JAPANESE TECH CO. RAKUTEN RAISED $1.8BN THROUGH 3-YR SENIOR NOTE

  • CHINA ORIENT (BAD DEBT MANAGER) RAISED $550M IN $ BOND

  • BANK OF CHINA TO SELL $21BN LOSS ABSORBING BONDS

  • MIZUHO, MUFG & SUMITOMO LENT $16BN TO NIPPON TO FUND US STEEL ACQUISITION

  • AFRICAN DEV. BANK RAISED $750M THROUGH SALE OF PERP. NOTE AFTER $5BN IN ORDERS

This Week’s Economic Calendar:

  • 10 Fed Speeches (Monday-Friday)

  • U.S. Trade Deficit (Wednesday)

  • Consumer Credit (Wednesday)

  • Jobless Claims & Wholesale Inventories (Thursday)

Bitcoin Halving Price Predictions 🤑

2 months.

That’s roughly how long we have until the Bitcoin halving.

Ie. When miners rewards are cut in half from 6.25 BTC to 3.125 BTC.

What will this do to price though?

Some of the biggest names in crypto have their projections 👇🏼

Man, it would be awesome if ARK were right.

What do we think?

We’ll definitely build up in price, and potentially break all time highs this year, but we don’t believe we’ll hit $100k.

We’d settle for the lowest of these projections though 🤝🏼

How Many People Own Crypto? 🌏

580 million.

That’s how many people owned crypto, as of December 2023.

That’s roughly 7.16% of the global population.

And that’s BEFORE any ETFs were introduced/approved.

As regulators start figuring out how to adapt and adopt, I have no doubt this number will triple, quadruple, or even quintuple.

Brick by brick, blockchain and crypto are going to change the world.

DCA: Bitcoin Edition 🖨️💰

Just when you thought it couldn’t get any better.

Dollar cost averaging (DCA) is an investment strategy: you invest the same amount of money at regular intervals.

Over time, your holdings increase and your average entry price decreases.

It’s popular because it’s super easy… buy and move on with your day.

Turns out it’s pretty effective too… I recently came across the below 👇🏼

How ridiculous is that!

Investing is not hard, guys.

Don’t over complicate things - keep it simple and effective ✅

Bitcoin ETF Flows: Close Up 👀

A huge regulatory win!

Short term price movement aside, ETFs have changed the game.

They open the doors to institutional capital & simple, more effective investing for the majority.

Let’s take a closer look at how much money they’ve attracted:

So in the top 25 biggest ETFs, we have 5 Bitcoin ETFs… wow 👀 

Grayscale’s conversion from a trust to an ETF have caused some… complications, but the rest are powering through.

According to the numbers, BlackRock & Fidelity are taking majority of the market share.

 Crazy that they’re already bigger than Oil & Silver ETFs 🤔

Our Favorite Crypto Storage Option:

Check us out on👇🏼:

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.