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- The 84th Hoot
A GOOD MORNING & MONDAY TO YOU ☕️
THE BITCOIN 2024 CONFERENCE WAS CRAZY!
WORLD LEADERS, TOP MINDS & BILLION DOLLAR CO’S OWNING AND GETTING MORE INVOLVED IN CRYPTO BY THE DAY 🤩
Scatt's Weekly Seeds:
🌱Bitcoin 2024: Trump Saves Crypto 🚀
🌱ETH vs. BTC 🔥
🌱How Long To Make $1M in Crypto? 🎯
🌱The Bitcoin Cycle 🔄
Memes of The Week
Year-to-Date Returns:
Dow: 7.69%
S&P 500: 14.45%
Nasdaq Comp: 15.63%
Bitcoin: 62.06%
Ethereum: 41.94%
Solana: 76.94%
News Breakdown:
The Latest in Crypto:
7-DAY CRYPTO MARKET CAP CHANGE: $3B
CRYPTO INVESTMENT PRODUCT FLOW: $1.35B
FERRARI TO ACCEPT BITCOIN AND OTHER CRYPTO IN EUROPE
SWISS BANKS AIM TO PLUG CRYPTO PAYMENTS GAP LEFT BY US COLLAPSES
SPOT ETH ETFS DEBUT WITH $1B TRADING VOLUME/DAY
RUSSIAN PARLIAMENT PASSED BILL LEGALIZING BITCOIN AND CRYPTO IN INTERNATIONAL TRANSACTIONS
PRIVACY FOCUSED EMAIL PROTON MAIL LAUNCHED A BITCOIN WALLET: THEY HAVE 100 MIL USERS
COINBASE IS CREATING A TOKENIZED MONEY-MARKET FUND
COINBASE ADDED 3 BOARD MEMBERS, INCLUDING AN OPENAI EXEC
TRUMP HAS RAISED OVER $4MIL IN CRYPTO
STATE OF MICHIGAN PENSION REPORTED OWNING $6.6MIL IN BITCOIN ETF HOLDINGS
MICHAEL SAYLOR SAYS THAT BITCOIN WILL BE WORTH $13MIL PER COIN BY 2045
FUN FACT: BTC IS UP 9.5 BILLION PERCENT AGAINST THE USD SINCE IT LAUNCHED IN 2009
This Week’s Economic Calendar:
Job Openings (Tuesday)
FOMC Interest Rate Decision (Wednesday)
Pending Home Sales (Wednesday)
Unemployment Report (Friday)
Bitcoin 2024: Trump Saves Crypto 🚀
Wow… what a weekend.
We recently had the biggest crypto conference in the world in Nashville, TN: Bitcoin 2024!
Some of the guest speakers included big names like: Michael Saylor, Edward Snowden, Vivek Ramaswamy, several senators… and Donald Trump!
Everyone had AMAZING speeches with so much to walk away with, but Trump’s position made his more interesting...
Below is a recap of his speech:
US to become ‘crypto capital of the world’
To create strategic Bitcoin for US (potentially owning millions of BTC)
To fire Gary Gensler on day 1 (current anti-crypto SEC chairman)
Views stablecoins as pro dollar
To end Operation Chokepoint 2.0 (govt. attack on crypto industry)
To bring Bitcoin mining to the US
And yes, politicians are politicians & half of this could be BS.
But I do not believe it is.
Did you know that there are 93 million Americans that own crypto?
That’s 93 million votes… out of ~370 million total.
Suddenly crypto is not a background topic/issue anymore?!
ETH vs. BTC 🔥
Volume.
The Ethereum ETFs went live earlier this week - and we’re here to tell you how they stacked up against the Bitcoin ETFs.
There’s a lot going on in there, so here goes as of DAY 1:
Net inflows are 16% of BTC ETF day one flows.
ETH ETFs did 23% of the volume that BTC ETFs did on day one
Grayscale outflows (an existing trust converting to an ETF) did 5x the outflows ($484M) compared to the Grayscale Bitcoin trust on day one
Overall, a WILD first day!
Can’t wait to see how things start to stack up once the Grayscale Trust outflows slow down (probably in a week or 2).
How Long To Make $1M in Crypto? 🎯
42 years.
That’s how long it takes to become a millionaire through SAVING.
17 years = the time it takes through investing in the S&P 500 (and hoping it makes on avg. 10% a year)
Well… Bitcoin has had an average return of 140% a year.
How long do you think it takes?
LESS THAN 4.
You invest $2,000/month in Bitcoin - odds are you’ll be a millionaire in less than 4 years.
Where are all the crypto haters now?!
Probably too busy NOT being millionaires.
The Bitcoin Cycle 🔄
History rhymes.
One of the most important pieces of information about Bitcoin is the following: It follows a cycle.
And if you care enough to learn it, you can make A LOT of money trading it.
It’s all built around the Bitcoin halving.
But the below trend line (top one is 2024) compares where we are in this cycle compared to prior cycles.
The exciting part?
We are about to enter the latter stages of the ‘Painful Upside’ and ‘Up Only’…
Which means we are on the cusp of some real fun!
Lots more where this came from!
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.