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The 73rd Hoot
Bitcoin World Adoption? 🤔 + Trump Brings Crypto Back 🇺🇸
GOOD MORNING, FRIENDS ☕️
TRUMP SAID HE WILL ENDORSE CRYPTO COMPANIES ONCE ELECTED.
PLEASE CAN WE START THE BULL MARKET EARLY?
Scatt's Weekly Seeds:
🌱Top Bitcoin Ownership by Country 👀
🌱Trump Endorses Crypto in the USA 🇺🇸
🌱FTX Repays Customers 💸
🌱Bitcoin World Adoption? 🤔
Meme of The Week
Year-to-Date Returns:
Dow: 4.71%
S&P 500: 9.59%
Nasdaq Comp: 9.36%
Bitcoin: 46.76%
Ethereum: 26.39%
Solana: 38.59%
News Breakdown:
Crypto Market:
7-DAY CRYPTO MARKET CAP CHANGE: $7B
CRYPTO INVESTMENT PRODUCT FLOW: $251M
SEC WANRED ROBINHOOD OF AN ENFORCEMENT ACTION OVER ITS CRYPTO BUSINESS
BINANCE WAS ASKED FOR A LARGE PAYMENT IN NIGERIA TO MAKE IT’S PROBLEMS GO AWAY
GERMAN STATE-OWNED BANK KFW WILL SELL FIRST BLOCKCHAIN-BASED DIGITAL BOND
CHINA BUSTS $295M UNDERGROUND BANK THAT USED CRYPTO TO CONVERT FOREIGN CURRENCIES
JAPAN’S METAPLANET ADOPTS BITCOIN AS RESERVE ASSET AMID YEN SLUMP
CRYPTO VCS TURNING BACK TO CRYPTO STARTUPS FOUNDED BY PROFESSORS
Credit & Debt Markets:
10-YR TREASURY YIELD: 4.462%
MORGAN STANLEY & BARCLAYS PREPPING WBS DEBT PACAGE TO FINANCE $9.6B LBO OF SUBWAY
ADANI UNIT DHAMRA LNG SEEKING $600M OFFSHORE LOAN TO REFI EXISTING DEBT
CITI AND JPM KICKED OFF $500M BOND DEAL SUPPORTING CD&R PURCHASE OF PRESIDIO
CVS WILL RAISE $5B THROUGH FIVE PART BOND SALE
PE-OWNED CITRIX SYSTEMS SEEKING TO SELL $1.5B SENIOR UNSECURED NOTES
This Week’s Economic Calendar:
PPI Inflation Numbers (Today)
CPI Inflation Numbers (Wednesday)
Retail Sales (Wednesday)
Housing Starts & Building Permits (Thursday)
Top Bitcoin Ownership by Country 👀
Who owns the most Bitcoin?
Turkey!
Emerging markets have seen massive increases in Bitcoin ownership in recent years.
Estimated Global Bitcoin adoption dhows just ~3% of the population hold the currency.
Meanwhile BTC is up ~55% in 2024 so far and about 130% in the last 6 months.
Our recent return to new all time high price action area is renewing sentiment around the space.
Crypto adoption is spreading, folks.
Has it officially become too big to fail??
Trump Endorses Crypto in the USA 🇺🇸
It finally happened.
Crypto became a forefront in politics.
Trump officially came out and said that he would bring crypto back to America and support them.
And Biden, just the day before this, announced that they would veto a decision to introduce crypto legislature whereby banks would be able to custody crypto.
We always knew it was going to be a Biden-Trump race again…
2 fine and sophisticated presidential candidates
But it’s now a crypto vs. no crypto race too…
Who will the market want more?
FTX Repays Customers 💸
FTX is surprising us all!
And paying back everybody MORE than what they are originally owed.
Just yesterday we were wondering if those creditors were ever going to be repaid… and now 98% of them will receive up to 118% of their allowed claims.
The other 2%?
FULLY repaid AND billions in compensation.
A terrible event for crypto, but it was humans that got everyone into this mess… not crypto/the blockchain. Pure human greed got us here.
Don’t throw blame too easily.
Regardless, lest we learn and move on from this overspoken topic 🙂
Bitcoin World Adoption? 🤔
How big and popular is Bitcoin?
According to @willywoo on Twitter, Bitcoin is currently at 4.7% world adoption.
Which, funny enough….
Is the same as January 1999 for Internet Adoption.
Coincidence?
I’ll let you decide.
We are currently at 426m Bitcoin holders today and projected to be 0.5 billion by October.
Nobody say anything - let’s let this play out 🤫
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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.