The 88th Hoot

60% of Largest Hedge Funds Have Bitcoin 🤩 + Crypto = HALF of Political Donations 🤑

Author

Matt Brimacombe
August 26th, 2024

MORNIN’ EVERYBODY☕️

HOPE YOU’RE ALL HAVING A GREAT DAY SO FAR.

Scatt's Weekly Seeds:

🌱$108 Billion Van Eck: Selling is Behind Us 👀

🌱60% of Largest Hedge Funds Have Bitcoin 🤩

🌱Bitcoin Average Quarterly Performance 📊

🌱Crypto = HALF of Political Donations 🤑

Meme of The Week

Year-to-Date Returns:

  • Dow: 9.25%

  • S&P 500: 18.13%

  • Nasdaq Comp: 19.10%

  • Bitcoin: 52.71%

  • Ethereum: 20.64%

  • Solana: 51.56%

News Breakdown:

The Latest in Crypto:

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

  • CRYPTO INVESTMENT PRODUCT FLOW: $30M

  • BLACKROCK DIGITAL ASSET ETFS SURPASS GRAYSCALE IN TOTAL AUM

  • BINANCE ARE RESTARTING OPERATIONS IN INDIA

  • ETHEREUM AVERAGE FEES AT FOUR YEAR LOWS

  • BITWISE ASSET MANAGER ACQUIRES CRYPTO ETP ISSUER ETC GROUP

  • 2024 DNC PLATFORM DOES NOT MENTION CRYPTO POLICY

  • DEFI PLATFORM MANGO MARKETS SETTLED WITH SEC DESPITE FACING NO CHARGES

  • CROWDED BITCOIN DERIVATIVES BETS SPUR WARNING OF SHORT SQUEEZE

  • NIGERIA’S SEC PLANS TO LICENSE CRYPTO EXCHANGES

  • BLACKROCK’S BTC ETF NOW HAS THIRD LARGEST YTD FLOWS AMONG ALL GLOBAL ETFS

  • EX CEO GETS 24 YEARS AFTER FALLING FOR CRYPTO SCAM AND CAUSING BANK COLLAPSE

  • TRUMP IS LAUNCHING A NEW CRYPTO PLATFORM THE DEFIANT ONES

  • BINANCE IS HIRING 1K EMPLOYEES THIS YEAR

This Week’s Economic Calendar:

  • Pending Home Sales (Thursday)

  • Personal Income & Spending (Friday)

  • PCE Inflation Index (Friday)

$108 Billion Van Eck: Selling is Behind Us 👀

VanEck is a big money manager.

$100B+ kind of big.

And they’ve been talking about Bitcoin now for YEARS.

They have full analyst teams dedicated to researching the coin and others like it in the space.

And they recently just came out on CNBC and said that all the BIG selling is behind us!

“Bitcoin really hits its stride at that point, so we’re buyers here, we think it recovers” 🚀

How awesome is that.

Who would’ve thought that in 2024 we’d have 9-figure money managers talking about crypto on air.

60% of Largest Hedge Funds Have Bitcoin 🤩

When you’re unsure of where the markets might go…

It’s always best to look at where the best and brightest are going.

And that is what we do when the biggest hedge funds in the world reveal their holdings every quarter.

And wouldn’t you know it… 60% of them own Bitcoin through the ETFs 👀

Institutional buyers, hedge funds, sovereign wealth funds, pension funds - all buying Bitcoin.

What more do you need?

Some smooth brain thoughts for the week:

We are not over halfway through the WORST performing quarter (Q3) for Bitcoin.

And we are on the cusp of its BEST performing quarter (Q4).

See average and median performances per quarter below…

Gear up ladies and gents… it’s almost time to rumble.

Crypto = HALF of Political Donations 🤑

Nearly half of ALL corporate election contributions in 2024 have come from the crypto sector.

That is WILD!

My goodness… how far we have come 🤯

Axios notes “Blockchain companies have supplied 48% of the $248mil of corporate money donated to influence federal elections this cycle”

Insane how much we’ve grown & the influence we are starting to wield.

Let’s hope it pays off.

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.