If you made serious coin, I only ask that you consider a monthly paid sub to support our work helping unbanked micro-preneurs. BTW, $51 or over gets you FOUNDERS membership (just enter it and it will work). Thanks again!
ETHE (fund) update... Still a coiled spring with much more potential even after a quick double.
Meditate on this chart (select the 5-year view) Still at 12% discount to NAV (which would enhance gains by jumping to zero if an Ethereum etf gets approved as expected soon... **NOT FINANCIAL ADVICE. DYOR!) https://seekingalpha.com/symbol/ETHE
Here's a "picks and shovels" crypto related stock play I've been adding to (not advice) ticker MARA:
Marathon Digital is considered the best pure-play miner in the industry, with a treasury policy to retain BTC mined and astute use of equity and debt.
Bitcoin as a Treasury Asset;
As of its recent investor presentation, MARA owns 13,726 BTC, a 5 percent increase from its holdings in August 2023. To add further context to these numbers, MARA mined 1,232 in September, or an average of 41.1 BTC per day. The average block reward is 6.25 coins, with 900 BTC on average issued per day. MARA accounts for over 4% of all BTC awarded in the month of September, a truly staggering amount. And yes, they did not retain all the BTC generated as they sold 800 coins to fund operations.
Bitcoin is expected to undergo its long-awaiting "halving" in 2024. Halving is to Bitcoin what central bank monetary policy is to the dollar, except it's pre-programmed. Sometime in 2024, the supply of new Bitcoin being added to the market will be cut in half. Past halving events have correlated with massive bull runs in BTC, as this piece by Morgan Stanley analysts notes.
The IRS has released higher federal tax brackets for 2024 to adjust for inflation.The standard deduction is increasing to $29,200 for married couples filing together and $14,600 for single taxpayers.There are also changes to the alternative minimum tax, estate tax exemption, earned income tax credit and flexible spending account limits, among others.
Michael Saylor⚡️@saylor (CEO OF MSTR) Fascinating (*NOT ADVICE)
"You can never have too much #Bitcoin. My discussion of $MSTR, $MSFT, MicroStrategy AI, $BTC Spot ETPs, the Halving, FASB Accounting, the Magnificent 7 Dilemma, & Corporate/Wall Street Adoption of Bitcoin with
October was an excellent month for Bitcoin. Speculation that BlackRock’s spot Bitcoin ETF application would lead to a flood of ETF approvals drove the price up 30% for the month, confirming a successful Uptober.
Bitcoiners, however, are now focused on November, which is traditionally the strongest month of the year for Bitcoin seasonality with an average return of an eye-popping 38%.
With next year’s Bitcoin Halving inching ever closer, and the likelihood of spot Bitcoin ETF approvals given a 90% likelihood of success by January 10 by Bloomberg’s ETF analysts, there are definite signs that Bitcoin is preparing to lead crypto out of the bear market.
Finally, hats off to the inimitable Michael Saylor, ( ticker MSTR) who continues to acquire Bitcoin at an alarming rate. Today, he announced that in October, MicroStrategy acquired an additional 155 BTC for $5.3 million and now holds 158,400 BTC.
On October 31, Gary Gensler, the controversial head of the U.S. Securities and Exchange Commission, tweeted, “If Satoshi Nakamoto went as Satoshi Nakamoto for Halloween, would we be able to tell? Happy 15th anniversary to Satoshi’s famous white paper that started crypto. Any crypto companies that are tricking investors should start treating them to compliance with the securities laws.”
Some commentators have interpreted this as another signal that Gensler is preparing to approve a slew of spot Bitcoin ETF applications
I am fairly technical and I’ve studied the Bitcoin software enough to generally understand how it works (I know what a UTXO is for example). My issue is that the more I understand the more I can’t see a unique value to Bitcoin specifically. I do see how cryptocurrencies in general could enable a speculative global digital greater fool situation (still great for those who enter low and exit high). If people talked about the value of goods and services directly in terms of Bitcoin (e.g. can you believe the price of bread is now ‘x’ Bitcoin) I’d be more convinced. There, I said it. Bracing for impact.
UPDATE: So did Changa CALL IT or WHAT?
Hope you enjoyed and benefited from the ride!
It's not over yet :)
If you made serious coin, I only ask that you consider a monthly paid sub to support our work helping unbanked micro-preneurs. BTW, $51 or over gets you FOUNDERS membership (just enter it and it will work). Thanks again!
ETHE (fund) update... Still a coiled spring with much more potential even after a quick double.
Meditate on this chart (select the 5-year view) Still at 12% discount to NAV (which would enhance gains by jumping to zero if an Ethereum etf gets approved as expected soon... **NOT FINANCIAL ADVICE. DYOR!) https://seekingalpha.com/symbol/ETHE
Here you go! Why not do it tax free (Roth) or deferred (Trad IRA)? Takes all of 5 minutes!
$50 off your Alto IRA fees or a $50 credit right in your Alto CryptoIRA®.
Learn more and use this code: https://altoira.grsm.io/w9sw0iyiisai
Also: here's a third party article reviewing crypto IRA options (I use Alto IRA, as fees are next to nothing)
https://www.businessinsider.com/personal-finance/best-bitcoin-cryptocurrency-iras
20% OFF FLU, COVID, RSV SALE including Ivermectin.
Take a look and stock up!
https://open.substack.com/pub/2ndsmartestguyintheworld/p/flu-covid-and-rsv-black-friday-sale?utm_source=share&utm_medium=android&r=3vm3f
5.6% on liquid, low minimum, no penalty FDIC insured CD now (in addition to money market at 5.3%, no minimum, liquid/FDIC ins.... Enjoy!
https://jimychanga.substack.com/p/gift-for-paid-subscribers
UPDATE ON SUSAN'S LOAN : "You're helping the many families my work supports" (our stack has close to 100 of these thanks to YOU!)
https://www.kiva.org/lp/susan-jeannettes-story?
WHAT A WEEK!! HOPE YOU WERE ALONG FOR THE RIDE! :)
BTC rallies near $38K and surpasses Visa and Tesla in market cap
BTC "outpaced" the market cap of Tesla and Visa as it surged near $38K and claimed "the 11th position among global assets.
https://m.investing.com/news/cryptocurrency-news/bitcoin-surpasses-tesla-in-market-cap-nears-38000-amid-etf-anticipation-93CH-3229415
Here's a "picks and shovels" crypto related stock play I've been adding to (not advice) ticker MARA:
Marathon Digital is considered the best pure-play miner in the industry, with a treasury policy to retain BTC mined and astute use of equity and debt.
Bitcoin as a Treasury Asset;
As of its recent investor presentation, MARA owns 13,726 BTC, a 5 percent increase from its holdings in August 2023. To add further context to these numbers, MARA mined 1,232 in September, or an average of 41.1 BTC per day. The average block reward is 6.25 coins, with 900 BTC on average issued per day. MARA accounts for over 4% of all BTC awarded in the month of September, a truly staggering amount. And yes, they did not retain all the BTC generated as they sold 800 coins to fund operations.
*Reminder: DYOR. Do You Own Research. Always.
Read more!
https://seekingalpha.com/article/4647440-marathon-digital-poised-to-outperform-price-of-bitcoin
GDLC Up another 3% today!
Just saying, more to go, but if you're up over 100% like me, never hurts to take a little profit. Christmas 🎄 came early!
ENJOY, and please share the love by becoming a paid sub. Try it!
DO YOURSELF A FAVOR!
READ THIS VERY CAREFULLY, and then Changa will quit bugging you.
Imagine what 150k bitcoin (as several wall st analyst are calling for) would do from this current 36k level?
Read!
https://seekingalpha.com/article/4649990-bitcoin-booming-again-last-chance-snag-gbtc-13-percent-discount-2024-halving
Bitcoin is expected to undergo its long-awaiting "halving" in 2024. Halving is to Bitcoin what central bank monetary policy is to the dollar, except it's pre-programmed. Sometime in 2024, the supply of new Bitcoin being added to the market will be cut in half. Past halving events have correlated with massive bull runs in BTC, as this piece by Morgan Stanley analysts notes.
https://www.morganstanley.com/articles/the-four-seasons-of-cryptocurrency-explained?subscribed=true&dis=em_20231018_wm_5ideasarticle&et_mid=518120&et_mkid=&sfmc_id=175970051
Are you not entertained?
(We TOLD you this was coming:)
Ethereum Spikes On BlackRock ETF Filing
'Heavily Institutional' Buying Sends Bitcoin Soaring
https://www.zerohedge.com/crypto/bitcoin-explodes-higher-heavily-institutional-buying
IRS ANNOUNCES NEW TAX BRACKETS:
The IRS has released higher federal tax brackets for 2024 to adjust for inflation.The standard deduction is increasing to $29,200 for married couples filing together and $14,600 for single taxpayers.There are also changes to the alternative minimum tax, estate tax exemption, earned income tax credit and flexible spending account limits, among others.
https://www.cnbc.com/2023/11/09/irs-here-are-the-new-income-tax-brackets-for-2024.html
Need a Laugh?
Happy to see non woke comedy still exists, along with audiences of all stripes that can chill and appreciate it for the cathartic jester role it has traditionally served https://youtube.com/shorts/mBKfxTG7H78?si=_tGfbd6fwqRm0trj
Michael Saylor⚡️@saylor (CEO OF MSTR) Fascinating (*NOT ADVICE)
"You can never have too much #Bitcoin. My discussion of $MSTR, $MSFT, MicroStrategy AI, $BTC Spot ETPs, the Halving, FASB Accounting, the Magnificent 7 Dilemma, & Corporate/Wall Street Adoption of Bitcoin with
@BobPisani
.https://x.com/saylor/status/1720103459725234600?s=20
BTC Continues to SURGE!!
October was an excellent month for Bitcoin. Speculation that BlackRock’s spot Bitcoin ETF application would lead to a flood of ETF approvals drove the price up 30% for the month, confirming a successful Uptober.
Bitcoiners, however, are now focused on November, which is traditionally the strongest month of the year for Bitcoin seasonality with an average return of an eye-popping 38%.
With next year’s Bitcoin Halving inching ever closer, and the likelihood of spot Bitcoin ETF approvals given a 90% likelihood of success by January 10 by Bloomberg’s ETF analysts, there are definite signs that Bitcoin is preparing to lead crypto out of the bear market.
Finally, hats off to the inimitable Michael Saylor, ( ticker MSTR) who continues to acquire Bitcoin at an alarming rate. Today, he announced that in October, MicroStrategy acquired an additional 155 BTC for $5.3 million and now holds 158,400 BTC.
On October 31, Gary Gensler, the controversial head of the U.S. Securities and Exchange Commission, tweeted, “If Satoshi Nakamoto went as Satoshi Nakamoto for Halloween, would we be able to tell? Happy 15th anniversary to Satoshi’s famous white paper that started crypto. Any crypto companies that are tricking investors should start treating them to compliance with the securities laws.”
Some commentators have interpreted this as another signal that Gensler is preparing to approve a slew of spot Bitcoin ETF applications
I’ll probably regret this but here goes...
I am fairly technical and I’ve studied the Bitcoin software enough to generally understand how it works (I know what a UTXO is for example). My issue is that the more I understand the more I can’t see a unique value to Bitcoin specifically. I do see how cryptocurrencies in general could enable a speculative global digital greater fool situation (still great for those who enter low and exit high). If people talked about the value of goods and services directly in terms of Bitcoin (e.g. can you believe the price of bread is now ‘x’ Bitcoin) I’d be more convinced. There, I said it. Bracing for impact.