The Hoot #22

Scatt's Seeds for Thought:

🌱 The Biggest Crypto Mine in America 🇺🇸

🌱 Crypto vs. The Stock Market 📈

🌱 A Kingdom Mines Bitcoin 👑

🌱 How Many People Own Crypto? 🪙

Meme of The Week

Year-to-date Market Performance:

• S&P 500: 9.24%

• Dow: 0.86%

• Nasdaq Comp: 20.94%

• Bitcoin: 62.30%

• Ethereum: 51.13%

• Scatt Capital’s Fortune Strategy: 29.08% (Since Inception: 24.74%)

• 7-Day Change in Crypto Market Cap: +$16bn

• U.S Retail Sales for April increased 0.4%, lower than the estimated 0.8%

• Housing Starts showed a 22% decline over the last year, the 12th consecutive YoY decline

• Building Permits' figure for April highlighted that this measurement is down ~30% from its peak

• Existing Home Sales year/year trend is still deep in negative territory, declining further in April to -23%

• Data for the Week Ahead: New Home Sales (April); Pending Home Sales (April); FOMC Minutes; PCE (April)

The Biggest Crypto Mine in America 🇺🇸

Who likes to do everything bigger & better? Americans.

The same applies to the crypto mining industry. The biggest crypto mine in America has 94,176 machines that compute 10,500,000,000,000,000,000 hashes EVERY SECOND as it competes to publish the next block in the blockchain.

The mine is based in Texas (the energy capital of America), and is said to make $83,333 every hour 💰

Crazy Stat: If all Bitcoin mines were a country, it would be the 61st BIGGEST in terms of energy consumption ⚡️

Crypto vs. The Stock Market 📈

Rates are high. Inflation is high. And so is Ethereum's yield.

Staking is the act of pledging coins to validate transactions on the network. And you currently get paid 8.76% a year for it on Ethereum's network...

To put this into perspective, the S&P500's total average return from 2000 - 2022 is ~9%, including dividends. Now, Ethereum's STAKING YIELD is just shy of 9%. Bare in mind that this DOES NOT INCLUDE any price appreciation of the ETH itself.

So in theory you'd be making ~9%/year PROVIDED ETH's value doesn't change. There's more chance of me sprouting wings & flying up your nose than ETH's price not changing.

Sooo... still questioning whether or not to include it in your portfolio?

A Kingdom Mines Bitcoin 👑

There are several kingdoms around the world, but Bhutan is special.

It's a little kingdom in the Himalayas home to around 800k people, and they MINE BITCOIN ⛏️ 

The kingdom is known for its hydroelectricity which is used to power most of the homes in the kingdom. And it's secretly been using some of the excess to mine Bitcoin ⚡️ 

It's said that the kingdom started mining it when BTC was trading at ~$5k, which could represent some pretty big gains 💪🏼

How Many People Own Crypto? 🪙

Ever thought to yourself how many people around the world actually own bitcoin/any form of crypto? The answer is 12%. The top 10 countries? We've got you covered 🤝🏼

• Turkey 🇹🇷 - 27.1%

• Argentina 🇦🇷 - 23.5%

• Thailand 🇹🇭 - 23.4%

• Brazil 🇧🇷 - 20.6%

• Indonesia 🇮🇩 - 20.1%

• UAE 🇦🇪 - 19.6%

• South Africa 🇿🇦 - 19%

• Vietnam 🇻🇳 - 18.5%

• Netherlands 🇳🇱 - 17.6%

• Portugal 🇵🇹 - 17.5%

Take note... Not a SINGLE G7 member in the top 10.

And there they stand so proudly...

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See you next week 🦉

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.