Fascinating NEW UPDATE from Avi Gilbert who has an uncanny record and is not a "perma bull" by any stretch:
"Whether price intends to follow the black vs. purple path is still a larger and more significant question. We tentatively hold a bullish view for price to head to new all-time highs in this rally that's commenced from the 2022 low. However, even in the more bearish case presented in the purple count-the shorter timeframe of action is aligned within this perspective for a move up to $46k-$50k before a larger top is likely to be struck. That forecast portends approximately a 60% gain from current levels and even more from an entry in the noted support."
Bitcoin Will Emerge Victorious From the New Crypto Civil War
By Teeka Tiwari, editor, Palm Beach Daily
"Isn't he the idiot who said bitcoin would hit $40,000 weeks before it hit $4,000?"
In case you're wondering, yes, that "idiot" is me.
That's a variation of what many of the 5 million people who tuned in to watch a special broadcast I had with media personality Glenn Beck in July 2018 tweeted, wrote, or uttered.
At the time I pointed to how institutions were telling everyone how corrupt and worthless bitcoin was... While at the same time, they were laying the groundwork for their traders and money managers to buy, sell, and store bitcoin.
I called it the Great Crypto Conspiracy of 2018.
In July 2018 bitcoin was trading at $8,000. And my research told me as adoption increased, the price would ramp up rapidly.
I would end up being both right and wrong at the same time.
Adoption did indeed ramp up dramatically.
All through the 2018 bear market, adoption rose. And yet the market hammered bitcoin's price lower.
This was due to traders hedging long positions with a corresponding short position in the newly formed bitcoin futures market.
We saw traders liquidate their spot bitcoin and clean up on their short position in Chicago Mercantile Exchange (CME) futures. It was the first market period in bitcoin's brief life when traders had a reliable mechanism to go short.
Many believed the introduction of CME futures along with the ability to go short would mark the end of bitcoin's meteoric rise. (CME is the world's largest financial derivatives exchange.)
And it did... at least for 16 months it did.
For the powers that be, it was mission accomplished.
You see, it wouldn't come out until nearly two years later that the whole premise behind approving bitcoin futures was to crush the price of bitcoin... And in my belief, to extinguish the threat it represented to global U.S. dollar dominance.
You don't have to take my word for it.
In an October 2019 interview, Christopher Giancarlo — the former Commodity Futures Trading Commission (CFTC) boss — explained why he approved a bitcoin futures contract:
One of the untold stories of the past few years is that the CFTC, the Treasury, the [Securities and Exchange Commission (SEC)], and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked...
We saw a bubble building, and we thought the best way to address it was to allow the market to interact with it.
This wasn't the first time the establishment had gunned for bitcoin.
In September 2017 JPMorgan Chase CEO Jamie Dimon infamously called bitcoin a "fraud" and threatened to fire any of his employees caught trading BTC. (Dimon later said he "regretted" those statements.)
The price of bitcoin dropped as much as 30% over the next three days after his statements.
What's funny is that his London office swooped in to pick up BTC after his comments had knocked the price down.
In less than two months, BTC had hit a new high, making those traders as much as 137%.
Up until now these battles have been between the "establishment" (Wall Street firms, financial regulators, and governments) and the bitcoin community.
Now a new battle is taking shape. And this time it's happening within the establishment.
I call it the "Establishment Civil War" because it pits U.S. financial regulators against the most powerful financial firms on Wall Street.
An Army of Ants Protected Bitcoin
Up until June 15, the main crypto battleground involved the establishment (regulators, financial firms, central banks) and bitcoiners (everyday people like you and me).
I'll tell you why June 15 is such an important date in a moment. But know this: Bitcoin has a long history of people trying to kill it.
From China banning bitcoin mining... to the "Nerd Wars" of 2017—2018... to SEC Chair Gary Gensler's current crusade against fully regulated U.S. exchanges... We've seen numerous attacks against bitcoin.
Every time the establishment has tried to bury bitcoin, it's been the relentless army of "ants" — the everyday people like you and I — who've refused to believe the establishment propaganda against BTC...
We've been the ones to keep dollar-cost averaging, HODLing (holding on for dear life), and staying true to the core value proposition that bitcoin represents.
That relentless buying and HODLing despite the thousands of negative news articles has pushed the adoption of crypto from just 5 million users in 2016 to an estimated 425 million today.
Today, HODLers own an estimated 68% of the bitcoin supply. That's the amount of bitcoin that hasn't moved in more than a year.
Thirty percent of bitcoin holders haven't moved their coins in five years. By comparison, the average holding period for U.S. stocks is only 5.5 months.
That means there's a large group of people who've held on through thick and thin.
These people are price agnostic. They don't care if BTC drops 50% or rises 50%. They just hold.
This matters because over time, this "HODL rate" keeps going up.
When you have an ever-growing group of people that refuses to sell... on the cusp of an explosion in new buyers... while the overall supply is cut in half every four years — the logical outcome is much higher prices in the future.
As you can see from the chart, given enough time an army of ants can move mountains. And that's exactly what the community has done with bitcoin.
Now Here Come the Giants
What's coming next, though, isn't an army of ants... It's an army of giants.
And they don't move the earth with tiny ant-sized mandibles. They move the earth with gigantic hydraulic shovels the size of three-story buildings.
Here's what I mean by that...
Remember that June 15 date I mentioned above?
That's when BlackRock — the world's largest asset manager, with almost $10 trillion under management — stunned the world by filing for a spot exchange-traded fund (ETF).
Unlike previous bitcoin ETF applications, this filing went to great lengths to appease the SEC's concerns over manipulation in the spot BTC market.
This was such a big deal to me that on June 21, I came out and said when we look back, we'll see that the BlackRock filing will have marked the end of the crypto bear market and the beginning of the bull market.
Will I be wrong, like when I called $40,000 bitcoin?
I'm sure many thought I will be. Especially when just 15 days after BlackRock announced its spot bitcoin ETF application... The SEC threw cold water all over it.
The agency said the application was inadequate because it didn't properly monitor price manipulation in the spot BTC market. That forced BlackRock to refile the application to address the SEC's concerns.
Bitcoin briefly dropped to $29,000 on the news... but quickly vaulted back above $30,000. If we were still in a bear market, bitcoin would have dropped 30%-plus on that news.
Here's my takeaway: The market has finally awakened. The financial giants are coming, and there's just not enough bitcoin to go around.
BlackRock CEO Larry Fink and his colossal money management firm is the mightiest giant of them all. If you don't believe me, consider this...
Just over two weeks after the SEC called the BlackRock bitcoin ETF application "inadequate," it quietly acknowledged that it had accepted the refiled application for official review.
Now, this doesn't mean the SEC has approved the ETF. But it means the application is on the agency's docket for review.
The fact that the application is now under official consideration is a big step forward. To me this looks like Larry Fink has been able to force the SEC to stop its foot-dragging.
Friends, Larry Fink's move into bitcoin provides all the cover the rest of Wall Street needs to bring their money shovels, too.
The bet in front of you is simple: Do you bet that Gary Gensler — a political appointee with very little political capital to speak of — has the stones to both confront, deny, and defeat the 800-pound gorilla of global finance, Larry Fink?
I think not.
And if Gensler loses — which I believe he will — what does that mean for all of crypto?
Bitcoin will skyrocket in price. BTC at $100,000 will happen in the blink of an eye. That's a 242% move higher from here.
The entire mindset of HODLing / using BTC [which is not real Bitcoin] as an asset class to increase the number of FRNs you can exchange it for is the opposite of what Bitcoin is really all about.
EDIT: To add background to this, I got really into BTC and other cryptocurrencies for a time many years ago when it was a craze being talked about all over. Put lots of money into it, and with skin in the game it caused me to research and find out all about it I could. After learning what Bitcoin really is, I sold it all. I only hold the real thing now.
I love Bitcoin. It's potential is incredible. People are building great things with it. It will probably take a great deal of time to become a standard, especially because there is such opposition to it [like you said] as it can destroy many profitable, yet devious, industry practices, and when it happens, all the people of the world will be using Bitcoin without realizing it. BTC is not Bitcoin.
BY THE WAY... Lots of misconceptions about EMF/Energy weapons/Grid collapse threat to Bitcoin:
to answer this from a reader...
"Just a thought but if the electric power grid goes down, all of the magic internet beans will vanish. Anyone ever thought of that?
My USD will still be folded up in my wallet in my back pocket. Cash is king baby."
Reply
If the grid goes down globally there will be no exchanging of Bitcoin while it is down. Local grids going down does nothing to Bitcoin. But as long as all the the nodes do not delete the blockchain, then it will restart when the grid is back on.
Spot bitcoin ETFs are no longer a matter of if, but when: Grayscale’s chief legal officer.
What it means for YOU:
IMAGINE THIS: A FIREHOSE OF DEMAND IS ABOUT TO HIT THE BITCOIN POOL. THE ETF IS THE "HOSE" THAT CONNECTS A HUGE RESERVOIR OF CONSUMER INTEREST/DEMAND FOR CRYPTO AND MAKES IT SIMPLE AND STRAIGHTFORWARD, AND THE POOL LEVEL/BITCOIN PRICE IS GOING TO SOAR. In fact, it's already soaring in anticipation of this etf approval which is now more sure than ever.
BOOM! Another HUGE upday in DAPP, ETHE, GBTC, GDLC and our Argentina stocks. For subs, we mentioned promising "junior" crypto miners CLSK, WULF and BITF which are much more speculative but ABSOLUTELY ON FIRE today! I hope some of you chose to do your own due dilly and are along for this ride we've been waiting for!
Now this: “Elite Wall St. money mgr Bernstein anticipates $150k Bitcoin by 2025. Bernstein noted that Bitcoin prices have historically risen in sync with halvings and expects the flagship crypto to hit a high of $150,000 by 2025.” (*Not financial advice)
"We seem to have underestimated the magnitude of inflows waiting in the wings for a spot bitcoin ETF in our last post. Turns out that it’s there, clearly, as seen by how close GBTC is to convergence with NAV. We didn’t get a taste of it on the fake ETF news fakeout due to it only being ~15 minutes long, but rather we got a hint at the directionality—and boy oh boy, is it hopeful for bitcoin once a bull market is in full-swing and this spot ETF is a brand new onramp for those institutional ETF buyers clearly chomping at the bit for one-click exposure.
Bitcoin gained in September while many traditional assets suffered meaningful losses, underscoring crypto’s diversification properties. The pressure on global markets seemed to stem from rising government bond yields and higher oil prices.Strong fundamentals played a key role as Bitcoin’s on-chain metrics improved during the month. Stablecoin market capitalization steadied after declining over the last year and digital asset markets remained focused on developments around Layer 2 blockchains and the potential for spot Bitcoin ETF approval in the US market.
If there’s one thing you should take from this story, it’s that Wall Street won’t acknowledge a massive shift in the markets until it’s positioned to profit from it.
Earlier this year, JPMorgan CEO Jamie Dimon called bitcoin a “hyped-up fraud.” Yet his company is testing how blockchain technology can benefit existing systems.
In 2020, Goldman Sachs bashed crypto, saying it’s “not an asset class.” Since then, Reuters reports the company is looking to invest in the space.
In 2017, BlackRock CEO Larry Fink called bitcoin an “index of money laundering.” Now he says it could “revolutionize finance.”
Today, the Wall Street giants are quietly laying the infrastructure to profit from what will be a multi-trillion-dollar industry.
Juan Ponce de León is the first known European to discover the area that is now known as Florida.[5] His successful discovery of Puerto Rico during one of many Spanish expeditions for gold, mystical items and new lands, precipitated Spain's permission and encouragement to claim more lands in the new world.[5] One such mystical item that lured him to what eventually happened to be Florida, was the Fountain of Youth.[5][6]
Juan Ponce de León became governor of Puerto Rico during the early 1500s.[6][5] The natives told him of an island that was rich in gold and had a magical fountain of water which would renew a person's health and youth.[5] Intrigued, Ponce de Leon returned to Spain to seek the approval of the Spanish crown to search and explore the island, known by natives as Bimini.[6] On February 23 of 1512, King Ferdinand approved Ponce de Leon's request to search for the island and by the 3rd of March in 1513, three ships left the Port of San German in Puerto Rico to search for the island of Bimini.[6] He landed on Floridian shores some time during April 2 to April 8 and named the area "la Florida" in honor of "Pascua Florida", Spain's Easter time celebration.[3] The expedition believed their discovery to be a large island and Ponce de Leon named the 'island' Pascua Florida.[6]
Pascua Florida Day commemorates the arrival of Juan Ponce de León on the shores of the state of Florida in 1513.[1][3][2] Florida is now known as the "Flower State" because of the connection to Ponce de Leon and Pascua Florida.[3] Since its entry into legislature, the holiday, while having no specific celebratory acts, usually culminates in a period of retrospection of Florida's rich history and the preceding events that led to it.[3]
BE CAREFUL BEARS, This Advance Is Beginning To Broaden
Jul. 31, 2023 9:40 PM ET
It’s widely believed that the S&P 500 and the NASDAQ 100 are going up today because seven to ten large technology stocks are advancing, while not many others are participating. If true, this would be a very narrow market indeed. But is it true?
The simple answer is, it isn’t. I have contributed to this misconception by writing an article that said it was, but after digging into the numbers I want to correct that error here. (**Not investment advice. Always consult your trusted financial advisor**)
Fascinating NEW UPDATE from Avi Gilbert who has an uncanny record and is not a "perma bull" by any stretch:
"Whether price intends to follow the black vs. purple path is still a larger and more significant question. We tentatively hold a bullish view for price to head to new all-time highs in this rally that's commenced from the 2022 low. However, even in the more bearish case presented in the purple count-the shorter timeframe of action is aligned within this perspective for a move up to $46k-$50k before a larger top is likely to be struck. That forecast portends approximately a 60% gain from current levels and even more from an entry in the noted support."
https://seekingalpha.com/article/4622702-wheres-bitcoin-going-second-half-of-2023
Here's one hell of a read, and disclosure!!
Bitcoin Will Emerge Victorious From the New Crypto Civil War
By Teeka Tiwari, editor, Palm Beach Daily
"Isn't he the idiot who said bitcoin would hit $40,000 weeks before it hit $4,000?"
In case you're wondering, yes, that "idiot" is me.
That's a variation of what many of the 5 million people who tuned in to watch a special broadcast I had with media personality Glenn Beck in July 2018 tweeted, wrote, or uttered.
At the time I pointed to how institutions were telling everyone how corrupt and worthless bitcoin was... While at the same time, they were laying the groundwork for their traders and money managers to buy, sell, and store bitcoin.
I called it the Great Crypto Conspiracy of 2018.
In July 2018 bitcoin was trading at $8,000. And my research told me as adoption increased, the price would ramp up rapidly.
I would end up being both right and wrong at the same time.
Adoption did indeed ramp up dramatically.
All through the 2018 bear market, adoption rose. And yet the market hammered bitcoin's price lower.
This was due to traders hedging long positions with a corresponding short position in the newly formed bitcoin futures market.
We saw traders liquidate their spot bitcoin and clean up on their short position in Chicago Mercantile Exchange (CME) futures. It was the first market period in bitcoin's brief life when traders had a reliable mechanism to go short.
Many believed the introduction of CME futures along with the ability to go short would mark the end of bitcoin's meteoric rise. (CME is the world's largest financial derivatives exchange.)
And it did... at least for 16 months it did.
For the powers that be, it was mission accomplished.
You see, it wouldn't come out until nearly two years later that the whole premise behind approving bitcoin futures was to crush the price of bitcoin... And in my belief, to extinguish the threat it represented to global U.S. dollar dominance.
You don't have to take my word for it.
In an October 2019 interview, Christopher Giancarlo — the former Commodity Futures Trading Commission (CFTC) boss — explained why he approved a bitcoin futures contract:
One of the untold stories of the past few years is that the CFTC, the Treasury, the [Securities and Exchange Commission (SEC)], and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked...
We saw a bubble building, and we thought the best way to address it was to allow the market to interact with it.
This wasn't the first time the establishment had gunned for bitcoin.
In September 2017 JPMorgan Chase CEO Jamie Dimon infamously called bitcoin a "fraud" and threatened to fire any of his employees caught trading BTC. (Dimon later said he "regretted" those statements.)
The price of bitcoin dropped as much as 30% over the next three days after his statements.
What's funny is that his London office swooped in to pick up BTC after his comments had knocked the price down.
In less than two months, BTC had hit a new high, making those traders as much as 137%.
Up until now these battles have been between the "establishment" (Wall Street firms, financial regulators, and governments) and the bitcoin community.
Now a new battle is taking shape. And this time it's happening within the establishment.
I call it the "Establishment Civil War" because it pits U.S. financial regulators against the most powerful financial firms on Wall Street.
An Army of Ants Protected Bitcoin
Up until June 15, the main crypto battleground involved the establishment (regulators, financial firms, central banks) and bitcoiners (everyday people like you and me).
I'll tell you why June 15 is such an important date in a moment. But know this: Bitcoin has a long history of people trying to kill it.
From China banning bitcoin mining... to the "Nerd Wars" of 2017—2018... to SEC Chair Gary Gensler's current crusade against fully regulated U.S. exchanges... We've seen numerous attacks against bitcoin.
Every time the establishment has tried to bury bitcoin, it's been the relentless army of "ants" — the everyday people like you and I — who've refused to believe the establishment propaganda against BTC...
We've been the ones to keep dollar-cost averaging, HODLing (holding on for dear life), and staying true to the core value proposition that bitcoin represents.
That relentless buying and HODLing despite the thousands of negative news articles has pushed the adoption of crypto from just 5 million users in 2016 to an estimated 425 million today.
Today, HODLers own an estimated 68% of the bitcoin supply. That's the amount of bitcoin that hasn't moved in more than a year.
Thirty percent of bitcoin holders haven't moved their coins in five years. By comparison, the average holding period for U.S. stocks is only 5.5 months.
That means there's a large group of people who've held on through thick and thin.
These people are price agnostic. They don't care if BTC drops 50% or rises 50%. They just hold.
This matters because over time, this "HODL rate" keeps going up.
When you have an ever-growing group of people that refuses to sell... on the cusp of an explosion in new buyers... while the overall supply is cut in half every four years — the logical outcome is much higher prices in the future.
As you can see from the chart, given enough time an army of ants can move mountains. And that's exactly what the community has done with bitcoin.
Now Here Come the Giants
What's coming next, though, isn't an army of ants... It's an army of giants.
And they don't move the earth with tiny ant-sized mandibles. They move the earth with gigantic hydraulic shovels the size of three-story buildings.
Here's what I mean by that...
Remember that June 15 date I mentioned above?
That's when BlackRock — the world's largest asset manager, with almost $10 trillion under management — stunned the world by filing for a spot exchange-traded fund (ETF).
Unlike previous bitcoin ETF applications, this filing went to great lengths to appease the SEC's concerns over manipulation in the spot BTC market.
This was such a big deal to me that on June 21, I came out and said when we look back, we'll see that the BlackRock filing will have marked the end of the crypto bear market and the beginning of the bull market.
Will I be wrong, like when I called $40,000 bitcoin?
I'm sure many thought I will be. Especially when just 15 days after BlackRock announced its spot bitcoin ETF application... The SEC threw cold water all over it.
The agency said the application was inadequate because it didn't properly monitor price manipulation in the spot BTC market. That forced BlackRock to refile the application to address the SEC's concerns.
Bitcoin briefly dropped to $29,000 on the news... but quickly vaulted back above $30,000. If we were still in a bear market, bitcoin would have dropped 30%-plus on that news.
Here's my takeaway: The market has finally awakened. The financial giants are coming, and there's just not enough bitcoin to go around.
BlackRock CEO Larry Fink and his colossal money management firm is the mightiest giant of them all. If you don't believe me, consider this...
Just over two weeks after the SEC called the BlackRock bitcoin ETF application "inadequate," it quietly acknowledged that it had accepted the refiled application for official review.
Now, this doesn't mean the SEC has approved the ETF. But it means the application is on the agency's docket for review.
The fact that the application is now under official consideration is a big step forward. To me this looks like Larry Fink has been able to force the SEC to stop its foot-dragging.
Friends, Larry Fink's move into bitcoin provides all the cover the rest of Wall Street needs to bring their money shovels, too.
The bet in front of you is simple: Do you bet that Gary Gensler — a political appointee with very little political capital to speak of — has the stones to both confront, deny, and defeat the 800-pound gorilla of global finance, Larry Fink?
I think not.
And if Gensler loses — which I believe he will — what does that mean for all of crypto?
Bitcoin will skyrocket in price. BTC at $100,000 will happen in the blink of an eye. That's a 242% move higher from here.
I'll talk to you then.
Let the Game Come to You!
-Tika Tiwari
The entire mindset of HODLing / using BTC [which is not real Bitcoin] as an asset class to increase the number of FRNs you can exchange it for is the opposite of what Bitcoin is really all about.
BTC is widely used as the symbol for real bitcoin on exchanges such as Coinbase.
Yea, and Joe Biden is widely used as the symbol for real president on information exchanges such as CNN, FOX, MSNPC, and so on.
Bitcoin whitepaper: https://craigwright.net/bitcoin-white-paper.pdf
Compare to BTC.
Thanks.
EDIT: To add background to this, I got really into BTC and other cryptocurrencies for a time many years ago when it was a craze being talked about all over. Put lots of money into it, and with skin in the game it caused me to research and find out all about it I could. After learning what Bitcoin really is, I sold it all. I only hold the real thing now.
I love Bitcoin. It's potential is incredible. People are building great things with it. It will probably take a great deal of time to become a standard, especially because there is such opposition to it [like you said] as it can destroy many profitable, yet devious, industry practices, and when it happens, all the people of the world will be using Bitcoin without realizing it. BTC is not Bitcoin.
Bitcoin is not bitcoin as imagineered/outlined in the Satoshi whitepaper? Not sure what you're saying.
Potus has a second career waiting for him as an Alzheimer's mascot/advocate for big pharma.
>Bitcoin is not bitcoin as imagineered/outlined in the Satoshi whitepaper?
Correct.
>Potus has a second career waiting for him as an Alzheimer's mascot/advocate for big pharma.
I rest my case 🫡
The plot thickens 🥴
UPDATE! It's almost Here.
Only 35 more days to go.
Get up to speed.
Listen!
UPDATE
ONLY 35 MORE DAYS TO GO
TILL THE HALVENING!!!
https://www.youtube.com/live/god2-aQvB2A?si=-2XPoaCxoj0cjVyV
BY THE WAY... Lots of misconceptions about EMF/Energy weapons/Grid collapse threat to Bitcoin:
to answer this from a reader...
"Just a thought but if the electric power grid goes down, all of the magic internet beans will vanish. Anyone ever thought of that?
My USD will still be folded up in my wallet in my back pocket. Cash is king baby."
Reply
If the grid goes down globally there will be no exchanging of Bitcoin while it is down. Local grids going down does nothing to Bitcoin. But as long as all the the nodes do not delete the blockchain, then it will restart when the grid is back on.
Think about that.
Dear STNN Reader,
Recent SEC lawsuits against Coinbase and Binance have cast a pall on the crypto market.
Prices have dropped …
The confusing legal and regulatory environment has scared off investors …
One headline even asked if the Biden administration was trying to kill crypto altogether.
But, if you look closer, there’s something else going on here.
I think Biden and his buddies have something else up their sleeve.
Something that could send Bitcoin prices over $100,000.
This isn’t a bad time to buy crypto.
It’s the BEST TIME!!!.
And probably the last time before prices spike.
(click and listen to the info. No need to buy the newsletter)
https://finance.weissratings.com/reports/WCI/take-ext-49-2309/vid-1s/?sc=EVERF&ec=AWCIBI01_154&transaction_id=ee04284f79cc484ca10400adaa998e02&ppt=16
Spot bitcoin ETFs are no longer a matter of if, but when: Grayscale’s chief legal officer.
What it means for YOU:
IMAGINE THIS: A FIREHOSE OF DEMAND IS ABOUT TO HIT THE BITCOIN POOL. THE ETF IS THE "HOSE" THAT CONNECTS A HUGE RESERVOIR OF CONSUMER INTEREST/DEMAND FOR CRYPTO AND MAKES IT SIMPLE AND STRAIGHTFORWARD, AND THE POOL LEVEL/BITCOIN PRICE IS GOING TO SOAR. In fact, it's already soaring in anticipation of this etf approval which is now more sure than ever.
https://www.cnbc.com/video/2023/12/01/spot-bitcoin-etfs-matter-of-when-not-matter-of-if-anymore-grayscales-chief-legal-officer.html
BOOM! Another HUGE upday in DAPP, ETHE, GBTC, GDLC and our Argentina stocks. For subs, we mentioned promising "junior" crypto miners CLSK, WULF and BITF which are much more speculative but ABSOLUTELY ON FIRE today! I hope some of you chose to do your own due dilly and are along for this ride we've been waiting for!
Now this: “Elite Wall St. money mgr Bernstein anticipates $150k Bitcoin by 2025. Bernstein noted that Bitcoin prices have historically risen in sync with halvings and expects the flagship crypto to hit a high of $150,000 by 2025.” (*Not financial advice)
"We seem to have underestimated the magnitude of inflows waiting in the wings for a spot bitcoin ETF in our last post. Turns out that it’s there, clearly, as seen by how close GBTC is to convergence with NAV. We didn’t get a taste of it on the fake ETF news fakeout due to it only being ~15 minutes long, but rather we got a hint at the directionality—and boy oh boy, is it hopeful for bitcoin once a bull market is in full-swing and this spot ETF is a brand new onramp for those institutional ETF buyers clearly chomping at the bit for one-click exposure.
https://open.substack.com/pub/thebitcoinlayer/p/bitcoin-touches-30000-as-stocks-dump?utm_source=share&utm_medium=android&r=3vm3f
Bitcoin: Why I'm Buying 14-Year-Old Tulips With Both Hands
https://seekingalpha.com/article/4635271-bitcoin-why-im-buying-14-year-old-tulips-with-both-hands
Fun facts:
Bitcoin gained in September while many traditional assets suffered meaningful losses, underscoring crypto’s diversification properties. The pressure on global markets seemed to stem from rising government bond yields and higher oil prices.Strong fundamentals played a key role as Bitcoin’s on-chain metrics improved during the month. Stablecoin market capitalization steadied after declining over the last year and digital asset markets remained focused on developments around Layer 2 blockchains and the potential for spot Bitcoin ETF approval in the US market.
https://www.grayscale.com/research/market-commentary/september-2023-bitcoin-outperforms-amidst-global-market-rout?
#Crypto: SOLANA JUMPS as Visa announces it will introduce settlement of the USDC stablecoin over the Solana network.
The payments giant said in a statement that the development could help “improve the speed of cross-border settlement and providing a modern option for our clients to easily send or receive funds from Visa’s treasury.” https://www.cnbc.com/2023/09/05/solana-jumps-on-visa-stablecoin-announcement-as-bitcoin-and-other-cryptocurrencies-remain-flat.html
Bizzarro World:
CRYPTO WORLD
Sam Bankman-Fried isn’t getting his Adderall and is surviving on ‘bread and water,’ lawyers say https://www.cnbc.com/2023/08/22/sam-bankman-fried-not-getting-adderall-living-on-bread-and-water-.html
If there’s one thing you should take from this story, it’s that Wall Street won’t acknowledge a massive shift in the markets until it’s positioned to profit from it.
Earlier this year, JPMorgan CEO Jamie Dimon called bitcoin a “hyped-up fraud.” Yet his company is testing how blockchain technology can benefit existing systems.
In 2020, Goldman Sachs bashed crypto, saying it’s “not an asset class.” Since then, Reuters reports the company is looking to invest in the space.
In 2017, BlackRock CEO Larry Fink called bitcoin an “index of money laundering.” Now he says it could “revolutionize finance.”
Today, the Wall Street giants are quietly laying the infrastructure to profit from what will be a multi-trillion-dollar industry.
FUN FACT (Amaze your Friends!)
DO YOU KNOW WHY FLORIDA IS CALLED "FLORIDA"?
Pascua Florida:
Juan Ponce de León is the first known European to discover the area that is now known as Florida.[5] His successful discovery of Puerto Rico during one of many Spanish expeditions for gold, mystical items and new lands, precipitated Spain's permission and encouragement to claim more lands in the new world.[5] One such mystical item that lured him to what eventually happened to be Florida, was the Fountain of Youth.[5][6]
Juan Ponce de León became governor of Puerto Rico during the early 1500s.[6][5] The natives told him of an island that was rich in gold and had a magical fountain of water which would renew a person's health and youth.[5] Intrigued, Ponce de Leon returned to Spain to seek the approval of the Spanish crown to search and explore the island, known by natives as Bimini.[6] On February 23 of 1512, King Ferdinand approved Ponce de Leon's request to search for the island and by the 3rd of March in 1513, three ships left the Port of San German in Puerto Rico to search for the island of Bimini.[6] He landed on Floridian shores some time during April 2 to April 8 and named the area "la Florida" in honor of "Pascua Florida", Spain's Easter time celebration.[3] The expedition believed their discovery to be a large island and Ponce de Leon named the 'island' Pascua Florida.[6]
Pascua Florida Day commemorates the arrival of Juan Ponce de León on the shores of the state of Florida in 1513.[1][3][2] Florida is now known as the "Flower State" because of the connection to Ponce de Leon and Pascua Florida.[3] Since its entry into legislature, the holiday, while having no specific celebratory acts, usually culminates in a period of retrospection of Florida's rich history and the preceding events that led to it.[3]
Risk ON. A rising tide carries all boats..
BE CAREFUL BEARS, This Advance Is Beginning To Broaden
Jul. 31, 2023 9:40 PM ET
It’s widely believed that the S&P 500 and the NASDAQ 100 are going up today because seven to ten large technology stocks are advancing, while not many others are participating. If true, this would be a very narrow market indeed. But is it true?
The simple answer is, it isn’t. I have contributed to this misconception by writing an article that said it was, but after digging into the numbers I want to correct that error here. (**Not investment advice. Always consult your trusted financial advisor**)
https://seekingalpha.com/article/4621975-be-careful-bears-this-advance-beginning-broaden