The 81st Hoot

Is Africa the Bitcoin Continent? 🚀 + German Government & BTC 🇩🇪

Author

Matt Brimacombe
July 8th, 2024

GOOD MORNING & HAPPY MONDAY ☕️

BREAKING NEWS: CRYPTO DECLINING DOES NOT EQUAL THE WORLD ENDING (SHOCKER)

AND SOUTH AFRICA IS STILL THE BEST RUGBY TEAM IN THE WORLD 🇿🇦

Scatt's Weekly Seeds:

🌱German Government & BTC 🇩🇪

🌱Is Africa the Bitcoin Continent? 🚀

🌱Blockchain Wars: Fee Revenue ⚔️

🌱The Global Liquidity Index 👀

Memes of The Week

Year-to-Date Returns:

  • Dow: 4.47%

  • S&P 500: 16.72%

  • Nasdaq Comp: 22.26%

  • Bitcoin: 35.80%

  • Ethereum: 30.40%

  • Solana: 31.62%

News Breakdown:

The Latest in Crypto:

  • 7-DAY CRYPTO MARKET CAP CHANGE: $19B

  • CRYPTO INVESTMENT PRODUCT FLOW: $30M

  • BTC NOW ACCEPTED BY 380 BUSINESSES IN COSTA RICA

  • USDC ISSUER CIRCLE GAINS MICA-COMPLIANT LICENSE IN FRANCE

  • SEC ACCUSED SILVERGATE BANK OF INADEQUATELY MONITORING $1T IN CRYPTO TRANSACTIONS

  • SONY WILL RESTART JAPANESE CRYPTO EXCHANGE WHALEFIN

  • ROBINHOOD SAID TO CONSIDER LISTING CRYPTO FUTURES IN US

  • STANDARD CHARTERED SAYS FRESH ALL TIME HIGH OF $100K FOR BTC IS LIKELY BY U.S. ELECTION DAY

  • CRYPTO INDUSTRY IS TAKING FIGHT WITH SEC TO BIDEN AND TRUMP

  • MT GOX STARTS REPAYING CREDITORS IN BITCOIN AND BITCOIN CASH

  • THEY MOVED NEARLY 48,000 BTC AHEAD OF IT’S $9B PAYOUT

  • GERMAN MP SLAMS GOVERNMENT SELL OFF & URGES HOLDING AS STRATEGIC RESERVE

  • $680M RAISED IN JUNE OVER 90 DISCLOSED CRYPTO VC INVESTMENTS

This Week’s Economic Calendar:

  • Fed Chair Powell Testimony to Senate (Tuesday)

  • CPI Inflation (Thursday)

  • PPI Inflation (Friday)

German Government & BTC 🇩🇪

Dumping.

That’s what the German government decided to do to us last week.

Over time, they have seized a monstrous ~50,000 Bitcoin ($3B) and….

They decided that last week was a fantastic time to start selling it… ON AN ILLIQUID U.S. HOLIDAY.

Why do you think there was such a bad impact?

Because NOBODY was in the office - it’s bloody July 4th.

Regardless, they’ve recieved a lot of criticism for their actions & even a few crypto whales stepping in and offering to buy their ENTIRE position off market…

So that market prices aren’t badly affected. So far: no response.

Classic government.

Since June 30th, they have sold just shy of 4,000 BTC.

Bear in mind the following: Germany is not a Bitcoin investor. These are seized assets that they are trying to get rid of.

They are not market manipulators or world leading investors - this is merely a form of getting rid of it.

So with that said, what do you think happens when they’re done?

Or if a billionaire steps in and says he’ll buy all ~40k of the BTC left off market?

You still think we’re in a bear market?

Think again.

Is Africa the Bitcoin Continent? 🚀

Africa.

Lot of beauty, but man… comes with it’s fair share of baggage.

Apparently one of the beauties includes crypto & blockchain with over 110 businesses building on the Bitcoin chain!

No specifics as the companies range from Media to Mining to Education to Retail.

Incredible - and stuff you really love to see.

With the amount of corruption and skullduggery-like deals that happen across our beloved continent, crypto and blockchain is set to THRIVE here.

So we can at least do 2 things right: play rugby & build crypto companies.

Chain vs. Chain.

Who’s the best & biggest?

Well according to TTM (Trailing Twelve Month) fee revenue which indirectly points to activity on the network…

Ethereum dominates, followed by Bitcoin, Tron, Solana and then BSC.

These are also relative figures too because fees on Polygon for example differ GREATLY to Ethereum which is known to be more expensive.

So it doesn’t speak to the transaction volume.

But, nevertheless there’s still a big difference between $24M and $2.7B 😂

The Global Liquidity Index 👀

Bloodstream.

Think of global liquidity as the bloodstream of the world’s financial system.

Think of it as a crystal ball RE what is about to happen - affecting everything from stocks to crypto to a gallon of milk.

And looking at graph below:

  • Blue Line = actual global liquidity

  • Grey Line = A prediction that generally tracks over time

So going off this, we are in the beginning stages of a MASSIVE wave of liquidity.

You think you’re ready to profit off of that?

You sure?

Crypto Cold 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.