The 85th Hoot

BlackRock Crypto Holdings Update 📊 + Trump: “Pay off $35T Debt in Bitcoin” 🔥

Author

Matt Brimacombe
August 5th, 2024

A HAPPY MONDAY TO YOU ☕️

MARKETS SWEEP RANGE LOWS AND PEOPLE THINK THE WORLD IS ENDING.

BREAKING NEWS 🚨: IT’S NOT. YOU WILL BE OKAY

Scatt's Weekly Seeds:

🌱BlackRock Crypto Holdings Update 📊

🌱Price Predictions from BTC 2024 🚀

🌱MicroStrategy is Buying Bitcoin…. AGAIN!

🌱Trump: “Pay off $35T Debt in Bitcoin” 🔥

Memes of The Week

Year-to-Date Returns:

  • Dow: 5.43%

  • S&P 500: 12.09%

  • Nasdaq Comp: 11.76%

  • Bitcoin: 39.79%

  • Ethereum: 19.23%

  • Solana: 35.63%

News Breakdown:

The Latest in Crypto:

  • 7-DAY CRYPTO MARKET CAP CHANGE: $33B (ouch)

  • CRYPTO INVESTMENT PRODUCT FLOW: $245M

  • HONG KONG LAWMAKER FOLLOWS TRUMP IN PROPOSING STRATEGIC BTC RESERVE

  • TRUMP ADDED CRYPTO TO HIS ‘AMERICA FIRST’ AGENDA

  • CANTOR FITZGERALD IS LAUNCHING A $2B BITCOIN FINANCING BUSINESS

  • TRUMP VOWED TO SACK THE SEC CHAIR AND END PERSECUTION OF CRYPTO

  • US MOVED $2B OF SEIZED DIGITAL WALLET JUST DAYS AFTER TRUMP’S PRO-BITCOIN SPEECH AT CRYPTO CONFERENCE

  • SEC INTENDS TO AMEND BINANCE COMPLAINT REMOVING NEED FOR RULING ON WHETHER TOKENS ARE ‘SECURITIES’

  • FIDELITY INTERNATIONAL LISTS PHYSICAL BITCOIN ETP ON LONDON STOCK EXCHANGE

  • BITMEX PLED GUILTY TO US ANTI-MONEY LAUNDERING FAILURE CHARGES

  • BITCLOUT FOUNDER WAS ARRESTED OVER FRAUD CHARGES

  • 41.5% OF MT. GOX BITCOIN HAS BEEN DISTRIBUTED

  • OVER 70% OF HACKED FUNDS ARE LOST TO CENTRALIZED FINANCE ENTITIES (for all those anti crypto and blockchainers)

  • TETHER REPORTS RECORD $5.2B PROFIT IN H1 2024 ($124M PER EMPLOYEE 🤯)

  • BITCOIN MINING DIFFICULTY HITS NEW ALL TIME HIGH

  • $1.5T MORGAN STANLEY (15,000 ADVISORS) CAN SOLICIT ELIGIBLE CLIENTS FOR BITCOIN ETFs

  • TETHER NOW HOLDS MORE US DEBT THAN COUNTRIES INCLUDING GERMANY

This Week’s Economic Calendar:

  • Consumer Credit (Wednesday)

  • Wholesale Inventories (Thursday)

BlackRock Crypto Holdings Update 📊

BlackRock is a behemoth.

In all respects.

And in January they launched the first ever spot Bitcoin ETF in the US.

And more recently, launched the first ever spot ETH ETF.

The biggest asset manager in the world getting involved in crypto… this is the stuff we were praying for years ago.

So how far along are they?

BlackRock now owns:

  • 342,978 Bitcoin worth $20.82B

  • 189,400 Ethereum worth $551.46M.

You think the largest money manager in the world ($10T+) gets this of this size wrong?

Incorrect. When will you people start to understand that institutions will NEVER be exit liquidity?

BlackRock is not buying the stuff in this volume to hopefully make $1B in profit… ETFs have 10-15 year time horizons ON AVERAGE.

Could be longer. And they’re breaking records in just the first 6 months.

Price Predictions from BTC 2024 🚀

Wild… to say the least.

Some of the price predictions coming out from the recent Bitcoin conference are huge!

Let me sum them up for you (from some of the most prominent people in the world):

  • Michael Saylor: his prediction is pictured below… yes… his bull case prediction is that Bitcoin becomes a QUADRILLION (1 thousand trillion) market 🤯

  • Jan Van Eck: Bear case is minimum of $130k; Base case is $2.9M per coin; and Bull case is $52.4M!

These are MIND BOGGLING numbers being thrown out.

And you’re probably sitting there saying to yourself “haha cool… anyways”.

Well, I can only tell you this so many times.

The rest you’ve got to figure out yourself - you only have a few moments in time to buy Bitcoin below $100k.

The size king.

Michael Saylor was the first few guys to bring Bitcoin to the institutions.

And I don’t mean a mom and pop store… I am talking about publicly-traded companies.

They have transformed a technology company (Microstrategy) into a Bitcoin company.

And they recently announced buying another $11.4M in Bitcoin.

They now hold a total of 226,500 Bitcoin - this is more than the US government.

Trump: “Pay off $35T Debt in Bitcoin” 🔥

Trump is back at it.

This time…

  • He argued the benefits of jumping onto the crypto boat on Friday

  • Kamala Harris then flagged his comments reiterated what he said

Trump heaped more praise on the “very very smart people” in crypto.

And suggested that the U.S. embracing Bitcoin could aid in addressing the $35T in U.S. national debt.

“Who knows? Maybe we’ll payoff our $35T, hand them a little crypto check, right…… we’ll hand them a little Bitcoin and wipe out our $35 trillion”.

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.