The Hoot #32

Crypto That Scans Your Eyeball 👁️

Author

Matt Brimacombe
July 31st, 2023

Scatt's Seeds for Thought:

🌱 A Crypto That Scans Your Eyeball 👁️

🌱 Bitcoin Mining: Environmentally Friendly 💚

🌱 BlackRock: The Perfect Portfolio 📈

🌱 Tim Draper: Bitcoin 🚀

Meme of The Week

Year-to-date Market Performance:

  • S&P 500: 19.34%

  • Dow: 6.98%

  • Nasdaq Comp: 36.79%

  • Bitcoin: 77.20%

  • Ethereum: 56.41%

  • Scatt Capital’s Fortune Strategy: 8.59% (Since Inception (12/22): 4.25%)

Market News:

  • 7-Day Change in Crypto Market Cap: -$18bn

  • FED RAISES RATES BY 25BPS AS EXPECTED: HITS 22 YEAR HIGH

  • ECB HIKES RATES BY 25BPS AS EXPECTED

  • BANK OF JAPAN TWEAKS ULTRA-LOOSE MONETARY POLICY

  • U.S. GDP GREW 2.4% YoY IN Q2 ON RESILIENT CONSUMERS

  • SEQUOIA CUTS CRYPTO FUND TO $200M FROM $585M

  • BTC VOLATILITY DROPPED TO 0.74%: NEW YEARLY LOW

  • CRYPTO PROJECTS RAISED $3.7BN IN H1, DOWN 44% IN 2022

  • BLACKROCK LAUNCHES $150M ASSET MGMT. JV IN INDIA

  • CHINA DEBT RATIO HITS RECORD

  • REGULATORS UNVEIL PROPOSAL TO HIKE BANK CAPITAL

  • WARREN BUFFETT AGGRESSIVELY BETS ON OIL & GAS AGAIN

  • THE WEEK AHEAD: 

    • Job Openings

    • Construction Spending

    • U.S. Unemployment Rate

A Crypto That Scans Your Eyeball 👁️

That’s right… Let’s start your week off with a weird story.

WorldCoin is a ‘privacy preserving digital identity’ project that’s used to verify humans, and it launched this week.

PLUS it was co-founded by Sam Altman (the same guy who started ChatGPT).

To kick it off though… you need to scan your eyeball with ‘The Orb’ 👁️ 

Once your retina is scanned, you get a ‘World ID’.

When you have a 'World ID’, you can download the app to claim your tokens.

And since launch, $WLD coin is up 33% in it’s first 4 days of launch 🚀

Our thoughts?

WAY too many privacy concerns.

Bitcoin Mining: Environmentally Friendly 💚

Bitcoin mining uses A LOT of energy.

Hence it’s negative press on the environment… but MIT disagrees.

They just release a new report on mining’s effect on the environment, and here are the 4 key takeaways:

  • It can help stabilize energy grids

  • It can mitigate methane emissions

  • It can be a solution to unplugged oil and gas wells

  • They can also facilitate the expansion of renewables

Point of the story: Crypto has such a bad wrap in the press, but don’t always believe what you read.

BlackRock: The Perfect Portfolio 📈

BlackRock is not just AN asset manager, it is THE asset manager.

And 3 of their analysts did a study to find the perfect risk to reward portfolio… guess what the found?

  • Bitcoin: 84.9%

  • Stocks: 9.06%

  • Bonds: 6.04%

That’s right… BLACKROCK (the company with $9 TRILLION under management) just said Bitcoin is the optimal choice.

They’ve also just filed for a Bitcoin ETF & their CEO is publicly loving it!

Tim Draper: Bitcoin 🚀

Tim Draper is a legend.

He invested early on in companies like Tesla, Coinbase, Twitter etc.

He also bought 30,000 BTC from the U.S. government.

And started his own school, Draper University.

See what I mean by ‘legend’?

Well, he just interviewed on Fox & here are the takeaways:

  • Bitcoin is going through what the internet did: The early battle days

  • Bitcoin will not only rise above other cryptos, but ALL fiat too

Coolest part? He left saying this is the most exciting decade we’ll ever see 💥

Hell yeah! Now that’s something we can get behind.

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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 researche Wo