The Hoot #42

Scatt's Seeds for Thought:

🌱 Bitcoin: $1 million by 2026 🚀

🌱 Sam Bankman Fried’s Trial: Live 🎥

🌱 Top 5 Crypto Trends: 3rd Quarter Edition 📈

🌱 Stocks vs. Stocks on the Blockchain 👀

Meme of The Week

Year-to-date Market Performance:

• S&P 500: 12.22%

• Dow: 0.79%

• Nasdaq Comp: 28.33%

• Bitcoin: 69.12%

• Ethereum: 37.28%

• Scatt Capital’s Fortune Strategy: +1.56% (Since Inception (12/22): -2.78%)

Market News:

• 7-Day Change in Crypto Market Cap: +$4bn

• LONDON ON TRACK TO BE EU’S BIGGEST STOCK MARKET AGAIN

• AMERICAN CONSUMERS ARE SPENDING LIKE CRAZY

• SMALL BUSINESS BANKRUPTCIES ON THE RISE

• AUSTRALIAN HOUSE PRICES STAY STRONG AS RBA STANDS PAT

• JAMIE DIMON PREDICTS 3.5 DAY WORKWEEK DUE TO AI

• GUCCI AND CHANEL BUYING UP TONS OF US REAL ESTATE

• RISING INT. RATES WILL SHOW EFFECT ON BANKS B/S IN Q4

• HF MANAGER BILL ACKMAN SAYS ECONOMY STARTING TO SLOW

• CREDIT MARKETS WOBBLE ON FED SPEAK AND RATE HIKE ANGST

• RAY DALIO SAYS US-CHINA ON BRINK OF ‘RED LINES’

• BILL GROSS SAYS US 10-YR COULD TEST 5% SOON

• WALL STREET THINKS AMERICA’S HOMES ARE OVERVALUED

• UNITED AIRLINES BUYS 110 BOEING & AIRBUS JETS

• AVG. INT RATE ON 30-YR MORTGAGE HITS 7.88%: 3X SINCE 12/22

• US ADDED 89K JOBS IN SEPTEMBER, FEWEST SINCE SEP. 2021

• BINANCE’S SPOT MARKET SHARE DECLINES FOR 7TH MONTH

• BIDEN CANCELS $9BN IN STUDENT DEBT FOR 125K BORROWERS

• OIL HITS $85/BARREL AFTER HAMAS/ISRAELI WAR

• THE WEEK AHEAD: 

  • Producer Price Index

  • Consumer Price Index

  • FOMC Sep. Meeting Minutes

Bitcoin: $1 million by 2026 🚀

One of the biggest price projections has just been made.

The former CEO of Bitmex (crypto exchange) said he sees Bitcoin being worth $750k to $1m by 2026.

That is approximately a 36x return or 3,600% 💸

His projection is linked to factors like interest rates, ETF approvals and broader macroeconomic cycles and trends.

It’s optimistic, but man I pray he’s right.

Sam Bankman Fried’s Trial: Live 🎥

The thief finally gets his day in court.

Sam Bankman Fried’s (the famous crypto guy who stole billions in customer funds) trial started earlier this week.

Here is a quick rundown so far:

• Prosecutors called SBF's crypto empire a "house of cards ... built on a lie."

• FTX co-founder Gary Wang testified that SBF "lied" about Alameda's ability to rack up debt and leverage, putting FTX customer funds at risk.

• A former FTX developer testified that a software bug overstated Alameda holdings by $8 billion.

• Prosecutors are reportedly seeking to forfeit two luxury jets that they believe are owned by SBF.

• At least one juror has reportedly been seen nodding off during the trial.

Michael Lewis (famous finance author) also wrote a book on Sam.

Haven’t read it yet, but the reviews are strikingly terrible.

This guy ruined my crypto 2022, I’m not gonna let him do that to my 2023 too.

Top 5 Crypto Trends: 3rd Quarter Edition 📈

Don’t read about crypto too often? Don’t stress, just keep scrolling.

The top 5 trends in crypto this last quarter are:

• Grayscale opened the door to a Bitcoin ETF (major legal win)

• Ripple got a partial legal win (which sent XRP soaring)

• Binance continued to lose market share

• FTX got approval to liquidate $3.4bn in crypto holdings

• Worldcoin launched a project that scans people’s eyeball 👁️

You gotta stay up to speed, people!

Financial markets move fast… but crypto markets move faster.

Stocks vs. Stocks on the Blockchain 👀

That probably sounded strange in your head, but yes… it’s a real thing.

In a nutshell, they are…

• Stocks, but based in crypto

• Opportunity to invest in stocks, without leaving crypto-verse

• Trade 24/7, unlike traditional stocks

• New & risky, but could be a great way to grow your money

You essentially collateralize a mimic of the stock on the blockchain with the ACTUAL stock.

Sound simple enough? Cool, see you on the other side.

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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 or sell any assets or to make any financial decisions. Please be careful and do your own research.