The Hoot #43

Scatt's Seeds for Thought:

🌱 Ethereum: $8,000 by 2026 📈

🌱 $84 Trillion in 22 Years 👀

🌱 FTX’s 7 Balance Sheets 😳

🌱 Hedge Fund Manager Likes Bitcoin & Gold 👍🏼

Meme of The Week

Year-to-date Market Performance:

• S&P 500: 12.72%

• Dow: 1.58%

• Nasdaq Comp: 28.10%

• Bitcoin: 62.89%

• Ethereum: 30.02%

• Scatt Capital’s Fortune Strategy: -3.53% (Since Inception (12/22): -7.87%)

Market News:

• 7-Day Change in Crypto Market Cap: -$38bn

• US CPI RISES 3.7% YEAR-OVER-YEAR (CORE CPI: 4.1% YoY)

• US SPENDS MORE ON DEBT INTEREST THAN NATIONAL DEFENSE

• FTX PAID TOM BRADY $55M FOR 1 WEEK OF WORK

• HEDGE FUNDS EXPECTED TO SELL UP TO 30 BILLION IN 2 WEEKS

• CHINA MAY BE SOURCE OF SURGING BOND YIELDS

• BINANCE SPOT TRADING VOLUME: LOWEST SINCE OCT. 2020

• BANK OF ISRAEL SELLING $30BN DOLLARS TO PROP UP SHEKEL

• OIL PRICES JUMP AFTER MIDDLE EAST WAR: RUSSIA’S BENEFIT

• PROFIT WARNINGS TO HIT S&P500 AS HIGH RATES PINCH

• HIGHER RATES FUEL SHORT BETS ON RESTAURANTS

• TEXAS CITIES BOOMING BUT OFFICES ARE MOST VACANCIES

• “BITCOIN IS DEAD”: BEEN SAID 474 TIMES (7 TIMES IN 2023)

• HIGHER BOND YIELDS LIKELY TO EXTEND FED RATE PAUSE

• BANKS GOT $280BN BOOST FROM RISING RATES

• COINBASE LOWEST TRADING VOLUME SINCE NASDAQ DEBUT

• CHINA STATE FUND BUYS BANK SHARES FUELING RESCUE HOPES

• YOUTUBE PASSES NETFLIX AS TOP VIDEO SOURCE FOR TEENS

• 516 CORPORATE BANKRUPTCIES IN 2023 SO FAR: 2X 2022 YTD

• FERRARI BEGINS ACCEPTING CRYPTO PAYMENT FOR CARS

• COINBASE CHALLENGES IRS CRYPTO TAX PROPOSAL

• THE WEEK AHEAD: 

  • U.S. Retail Sales

  • Housing Starts

  • Existing Home Sales

Ethereum: $8,000 by 2026 📈

ANOTHER major price prediction, but this time it’s on Ethereum…

Standard Chartered is one of the biggest banks in the UK.

They have a presence in 53 markets (or 120 countries)… In other words they’re massive.

And their Head of Research, Geoff, just predicted that ETH will hit $8k by 2026.

It’s quite an endorsement coming from a traditional financial institution.

Our thoughts? We’ll definitely see highs again around 2025/2026, however HOW high is anyone’s guess…

$84 Trillion in 22 years 👀

$84,000,000,000,000 .

That’s the generational wealth transfer that will take place between now and 2045.

Where will it be invested?

A good chunk in stocks and bonds, for sure.

But more than half of millenials think crypto is the future, so expect a decent chunk to go there too.

How much exactly?

Anyone’s guess… but even just 1% would be just short of $1 trillion.

And to think that the ENTIRE crypto market cap is only $1 trillion today.

My dear friends… we are still early.

FTX’s 7 Balance Sheets 😳

Just when you thought it couldn’t get worse…

Steal money, defraud the public, lie about it…

SBF and the FTX saga has been the talk of the crypto town for awhile.

And their case is currently ongoing (for those that aren’t aware).

Caroline Ellison ran Alameda (FTX’s hedge fund arm), and she is a key witness in the prosecutions case.

Earlier this week she testified saying that she prepared 7 DIFFERENT BALANCE SHEETS to present to clients.

If you’re asked to make another B/S by your boss, you should probably talk to a lawyer.

If you’re asked to make 7… run for the hills.

Hedge Fund Manager Likes Bitcoin & Gold 👍🏼

Paul Tudor Jones is a billionare & American investor.

He is widely known for making a KILLING betting against the Pound in 1992 and the S&P 500 in 1987.

And the guy LOVES Bitcoin and gold.

He’s one of the most recognized fund managers of our time, and he’s buying up the stuff like crazy (from what he says).

Now is the time.

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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.