The Hoot #46

Bitcoin Monthly Performance đź“Š

Author

Matt Brimacombe
November 6th, 2023

Scatt's Seeds for Thought:

🌱 Bitcoin Monthly Performance 📊

🌱 Verdict: GUILTY ❌

🌱 Saylor: Bitcoin Could 10x From Here 🚀

🌱 Where do the Ultra Wealthy Invest? 🤔

Meme of The Week

Year-to-date Market Performance:

  • S&P 500: 13.51%

  • Dow: 2.76%

  • Nasdaq Comp: 28.78%

  • Bitcoin: 111.77%

  • Ethereum: 58.26%

  • Scatt Capital’s Fortune Strategy: 19.02% (Since Inception (12/22): 14.68%)

Market News:

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

  • FED HOLDS RATES STEADY + UPGRADES ECON. OUTLOOK

  • CHINA SELLS $21 BILLION IN US STOCK AND TREASURIES

  • BIG BANKS ARE CUTTING THOUSANDS OF EMPLOYEES

  • MOST US MORTGAGES ARE BELOW 4%

  • STRONG DOLLAR KEEPS RATE HIKES ON TABLE FOR ASIA

  • HEDGE FUND TWO SIGMA HIT BY TRADING SCANDAL

  • UK CONFIRMS PLANS TO FORMALLY REGULATE CRYPTO

  • 2ND LARGEST THAI BANK ACQUIRES LOCAL CRYPTO EXCHANGE

  • STANDARD CHARTERED CRYPTO BUS. EXPANDS TO HONG KONG

  • CRYPTO INV. PRODUCT WEEKLY FLOW: +$326M

  • TOP PERFORMING HEDGE FUND STRATEGY 2023: MULTI STRAT

  • ALLIANCE BERNSTEIN SAYS BITCOIN AT $150K BY 2025

  • PAYPAL APPROVED TO OFFER CRYPTO SERVICES IN UK

  • HSBC NEW PROGRAM LAUNCHED AT TOKENIZING GOLD

  • FIDELITY DIRECTOR SAYS BITCOIN RISK-REWARD IS UNMATCHED

  • THE WEEK AHEAD: 

    • US Trade Deficit

    • Consumer Credit

    • Jerome Powell IMF Panel Speech

Bitcoin Monthly Performance đź“Š

Crypto has had an AWESOME year so far.

But where to from here? Let’s take a look at history to try and answer:

Below are Bitcoin’s average monthly returns.

The best? November averaging +40.1%

The worst? September averaging -5.3%

We had a GREAT October, and are awaiting an even BETTER month ahead.

I personally see a nice Christmas rally maybe onto $40-$45k.

Verdict: GUILTY ❌

CRYPTO IS SAVED.

The idiot is finished… DONE.

Sam Bankman Fried’s case is over and WE WON.

I REPEAT: THE VERDICT IS GUILTY. WE WON.

His sentencing is scheduled for March 28th, 2024 where he faces up to 110 years in prison after being found guilty of ALL 7 charges.

This is SUCH positive news. Great for the industry as a whole.

It’s all apart of crypto becoming legit and part of the system.

Good stuff, prosecutors. Thank you.

Saylor: Bitcoin Could 10x From Here 🚀

Michael Saylor is known as Mr. Bitcoin.

His company, MicroStrategy, owns BILLIONS of dollars in Bitcoin.

So when he speaks… we listen. The latest?

“With institutional interest shifting to Bitcoin, we 10x from here”

BOOM. Just like that.

10x is a 1,000% gain.

That would be massive, Michael.

Let’s hope you’re right.

Where do the Ultra Wealthy Invest? 🤔

Ever wondered where the mega wealthy put their money? Me too.

An Ultra High Net-Worth (UHNW) family is a category of investors that are worth AT LEAST $30m, and here’s where they invest:

  • Primary/Secondary Homes: 32%

  • Equities: 18%

  • Commercial Property: 14%

  • Bonds: 12%

  • Private Equity/Venture Capital: 6%

  • Crypto: 1%

Gives you a good idea of what they do with most of their investable money.

ALSO quite key to note that ONLY 1% has been allocated to crypto, and our ENTIRE market cap is only at $1 trillion.

Imagine when we’re at 5 or 10 or even 15% allocation… just saying.

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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.