The 61st Hoot

Crypto Makes the All-in-One 😍

February 19th, 2024

Good Morning to all the people who said Bitcoin will never hit $50k again.

Let’s dive in 👇🏼

Scatt's Weekly Seeds:

🌱Peter Thiel is Back 🤑

🌱Crypto Makes the All-in-One 😍

🌱Poland Town Launches Crypto 🤝🏼

🌱Bitcoin = Top 10 🤩

Meme of The Week

Year-to-Date Returns:

  • S&P 500: 4.94%

  • Dow: 2.49%

  • Nasdaq Comp: 5.09%

  • Bitcoin: 23.48%

  • Ethereum: 23.69%

  • Scatt Capital Collective Portfolio: 19.12% 

    • Since Inception: 69.65%

News Breakdown:

Crypto Market:

  • 7-DAY CRYPTO MARKET CAP CHANGE: +$150BN

  • CRYPTO INVESTMENT PRODUCT FLOW: +$1.1BN (wow!)

  • GENESIS SETTLED FRAUD CASE IN NY

  • FRANKLIN TEMPLETON (BILLION $ INV. FIRM) FILES FOR ETH ETF

  • BINANCE CEO SENTENCING MOVED TO APRIL 2024

  • CITI MADE SIMULATION ON HOW A PE FUND CAN BE TOKENIZED ON THE BLOCKCHAIN

  • ANALYSTS: “BITCOIN PRICE ACTION ALIGNING WITH PRE-HALVING RALLY”… (thanks)

  • BANKS ARE PUSHING REGULATORS TO CHANGE CRYPTO GUIDANCE

Credit & Debt Markets:

  • 10-YR TREASURY YIELD: 4.284%

  • EV BATTERY CO. BACKED BY MERCEDES RAISING $4.7BN IN DEBT

  • ASTON MARTIN REFINANCING $1.4BN IN SHORT TERM DEBT

  • SIXTH ST. PARTNERS LEADING PRIVATE CREDIT GROUP FOR $2BN BUYOUT OF ALTERYX

  • BLUE OWL CAPITAL LEADING $2BN PRIVATE CREDIT PACKAGE FOR RLDATIX

  • GROUP OF BANKS LAUNCHED $5BN LEVERAGED LOAN SALE TO FINANCE KKR PURCHASE OF COTIVITI

This Week’s Economic Calendar:

  • President’s Day (Monday)

  • FOMC January Meeting Mins (Wednesday)

  • Existing Home Sales (Thursday)

  • 7 Fed Speeches (Wednesday & Thursday)

Peter Thiel is Back 🤑

The legend is back.

For those who don’t know him, Peter Thiel is an investing icon. He:

  • Has a net worth of $7.5bn

  • Founded PayPal, Palantir & Founders Fund

  • Early investor in Facebook, SpaceX, Stripe & Bitcoin

    Point being: the guy has incredible vision.

    He first bought Bitcoin back in 2014 and sold before the 2022 crash, pocketing $2 billion in the process 🤝🏼

Well, his investment firm Founders Fund reportedly invested $200mil into crypto right before the recent rally started.

$100mil into Bitcoin, and $100mil into Ethereum.

Even the biggest, smartest investors keep it simple.

Crypto Makes the All-in-One 😍

Another major milestone.

Crypto has officially become an asset class.

Fidelity has an all-encompassing ‘all-in-one conservative’ ETF.

And crypto has just been added to the mix 👀 

Who would have ever thought ‘crypto’ and ‘conservative’ would be used in the same sentence 🤣

Times are certainly changing.

Poland Town Launches Crypto 🤝🏼

MinsCoin.

That’s the new stablecoin (pegged to a fiat currency like the dollar, or in this case the Polish Zloty) Minsk Mazowiecki recently launched.

10 local businesses will begin accepting it once it launches.

It’s mean to be “shopper-friendly money” that offers people a new way to engage with local businesses.

Also… if you help out in the community in some way ie. Walking instead of driving or taking the bus, you earn tokens 🤑

Awesome to see - interesting to see how the adoption plays out.

Bitcoin = Top 10 🤩

The top 10.

Bitcoin is officially back in the list of the world’s most valuable assets.

We’ve been here before, but the recent pullback in price a year or 2 ago pulled us out of the race.

But when we hit $48,300 we were back in 🏁

AND… when we hit $61,000 we’ll officially bigger than Facebook & Silver, and be in the top 8 🏆

So much for… “It’s backed by nothing and has no value”.

Our Favorite Crypto Storage Option:

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