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The 66th Hoot
Greatest Memecoin Story of 2024 👀
HAPPY MONDAY & GOOD MORNING ✍🏼
IF YOU CAN’T HANDLE THE VOLATILITY, YOU DON’T DESERVE THE RETURNS.
Scatt's Weekly Seeds:
🌱 Greatest Memecoin Story of 2024 👀
🌱 The Biggest Bitcoin Holders 📊
🌱 $1.43 Trillion Japanese Fund Adds BTC 🤝🏼
🌱 BlackRock Launches $100mil Crypto Fund 💰
Meme of The Week
Year-to-Date Returns:
Dow: 4.74%
S&P 500: 9.74%
Nasdaq Comp: 9.44%
Bitcoin: 55.91%
Ethereum: 48.93%
Solana: 68.94%
News Breakdown:
Crypto Market:
7-DAY CRYPTO MARKET CAP CHANGE: $22BN
CRYPTO INVESTMENT PRODUCT FLOW: $2.9BN
MICROSTRATEGY BUYS ANOTHER 9,245 BITCOIN ($623MIL)
BINANCE LABS SPINS OFF AS $10B VC FUND
GOLDMAN SAYS CRYPTO RALLY DRIVEN BY RETAIL INVESTORS
FTX EXPECTS US TO REDUCE BANKRUPTCY CLAIMS FROM $5B TO $3B
SEC ANNOUNCES LEGAL INVESTIGATION INTO CLASSIFYING ETH AS A SECURITY
MICROSTRATEGY NOW OWNS MORE THAN 1% OF ALL BITCOIN
Credit & Debt Markets:
10-YR TREASURY YIELD: 4.202%
TELEGRAM RAISED $330M IN BOND SALE
ABU DHABI SWF MUBADALA RAISING $1B IN FIRST USD DENOMINATED ISLAMIC BOND SALE
MORGAN STANLEY LEADS $2B HIGH YIELD DEBT PACKAGE FOR STONE POINT CAPITAL’S LBO OF TRUIST FINANCIAL INS. BUS.
INDIAN INFRASTRUCTURE BANK RAISING $4.8B IN LOCAL BOND SALE
BAE SYSTEMS RAISING $4.8B THROUGH 5-PART BOND SALE TO FUND $5.6B PURCHASE OF BALL AEROSPACE
This Week’s Economic Calendar:
New Home Sales (Monday)
Pending Home Sales (Thursday)
Personal Income & Spending (Friday)
PCE Inflation Index (Friday)
Greatest Memecoin Story of 2024 👀
The memecoin.
It’s a phenomenon.
Does it have a real use case? Absolutely not. But can you make millions on it? Absolutely.
Book of Meme (BOME) is a memecoin that rose from an initial market cap of $4m to $1.55bn…. IN 2 DAYS.
It was launched using a ‘presale’ model where the public deposits funds to a wallet address in exchange for a shark of tokens.
One participant, ‘SundayFunday.sol’, turned around. $72k into $24mil in unrealized gains.
This is by far the greatest memecoin story of 2024… so far.
But it’s just a taste of what’s to come later this year.
The Biggest Bitcoin Holders 📊
Powerhouses.
The biggest Bitcoin whales & their holdings are just wild.
They’ve all been on a Bitcoin buying spree lately (especially Microstrategy).
As it stands, here are the top 6 Bitcoin holders 👇🏼
What’s crazy is that the top holder (Microstrategy) owns about 10x more than the 2nd biggest holder.
Michael Saylor is going to be one of the wealthiest men in the world in 5 years.
$1.43 Trillion Japanese Fund Adds BTC 🤝🏼
The world’s top pension fund.
A behemoth-like Japanese pension fund (with assets around $1.43 trillion USD) is considering adding Bitcoin to their portfolio.
Can you imagine the price action when funds and companies of this size start to get involved?
The crazy part is that this is one of MANY funds out there trying to nail down allocations to Bitcoin/crypto.
They’re all dealing with it internally or clearing it with their respective boards etc. so give it some time
But the approval and movement is inevitable 🤝🏼
BlackRock Launches $100mil Crypto Fund 💰
BlackRock is BACK.
This time they partnered with Securitize to launch a $100mil fund on the Ethereum blockchain.
IT IS STARTING, LADIES & GENTLEMEN.
The Wall Street suits have arrived.
We don’t know their plans specifically, but man oh man…
This could be life changing for some people.
Crypto Storage Options:
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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.