The Hoot #28

100x Teslas on The Blockchain 🚙

Author

Matt Brimacombe
July 3rd, 2023

Scatt's Seeds for Thought:

🌱 $27 Trillion Worth of Institutional Adoption 🤑

🌱 FTX Recovers $7bn… 👀

🌱 Michael Saylor Now Owns $4.6bn in BTC 😅

🌱 100x Teslas on The Blockchain 🚙

Meme of The Week

Year-to-date Market Performance:

  • S&P 500: 15.95%

  • Dow: 3.91%

  • Nasdaq Comp: 31.73%

  • Bitcoin: 83.69% (up 71%+ for Q2)

  • Ethereum: 60.74% (up 52%+ for Q2)

  • Scatt Capital’s Fortune Strategy: 22.74% (Since Inception: 18.40%)

Market News:

  • 7-Day Change in Crypto Market Cap: -$5bn

  • APPLE HIT $3 TRILLION MARKET CAP

  • ALL 23 MAJOR BANKS PASSED THE FED’S STRESS TEST

  • NASDAQ 100 HAD ITS BEST FIRST HALF EVER

  • UPWARD REVISION IN Q1 GDP SHOWS ECONOMY’S STRENGTH

  • New Home Sales surged 12.2% MoM

  • Pending Home Sales plunged -21% YoY

  • PCE (Inflation) came inline with expectations at +3.8% 

  • Core PCE (excl. food & energy) came in +4.6% vs. +4.7% estimated

  • Fed Chair Powell doesn’t see 2% inflation in 2023 or 2024

  • The Week Ahead: Construction Spending (May); MARKETS CLOSED ON JULY 4TH; FOMC Meeting Minutes; Job Openings (May); U.S. Unemployment Report (June)

$27 Trillion Worth of Institutional Adoption 🤑

We’ve all seen the GREAT news over the last 2 weeks.

This company doing that, that company doing this… it can be hard to track. But don’t stress, we’ve got you covered 🤝🏼

These are some of the biggest financial institutions in the world & it details their role in the crypto space.

Let me just reiterate… ‘THE BIGGEST FINANCIAL INSTITUTIONS IN THE WORLD’ are officially involved in crypto.

These companies collectively manage $27 TRILLION USD.

If they’re involved, you should be too…

FTX Recovers $7bn… 👀

“Sh*t happens”, they say.

Apparently, sh*t can also un-happen.

The $8.7bn that bankrupt crypto exchange FTX owed it’s debtors seemed irrecoverable.

Apparently not, as $7bn in LIQUID assets have been found 🥳 Sounds like they found a few extra Pennie’s in the couch…

What does this mean? PAY DAY FOR CUSTOMERS!

Now, I can finally afford that really good tequila textbook.

On the back of this, Sam Bankman Fried asked a judge to throw out all of his criminal charges…

5 of his 13 original charges have been dropped 🤬

Michael Saylor Now Owns $4.6bn in BTC 😅

Michael Saylor - the Bitcoin OG - is back at it. This time with $347m.

There are only 26 public companies that hold Bitcoin on their balance sheet.

Michael Saylor’s Microstrategy leads the pack on this front, boasting 152,333 BTC (about $4.6bn right now).

That, my friends, is what we call a BITCOIN BLUE WHALE 🐋

I’ve said this before but this guy is either gonna go down as one of the biggest fools, or the best investors there ever was.

We’re inclined to agree with the latter.

100x Teslas on The Blockchain 🚙

This might be one of the coolest inventions of the year… a tokenized Tesla.

Yes, a car on the blockchain. So, what’s the point?

Tokenized cars for ridesharing services 🚙

AKA… fractionalized Uber.

Elon’s already a fan…

Ownership of a car gets tokenized (broken up into little shares on the Peaq blockchain) allowing people to own a fraction of the car

Token holders then split the revenue the car generates from daily operations 💰

So far… 100 Teslas have been tokenized & are driving around Vienna 🇦🇹

If you like receiving market updates, check us out here on LinkedIn; here on Twitter; or here on Instagram 📊

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.