Today’s Nuggets
Institutional FOMO, $1.2 Billion Yesterday
IBIT Fastest Ever to $80BN
Saylor: “Told ya so!”
Bloomberg Lists Bitcoin in Millions
SPX Down 99.98% in BTC Terms
Over $1B Shorts Get Rekt as BTC smashes $118,600
Bitcoin Jumps to 5th Largest Asset on Earth
Wynn Pivots to Short Side…Loses Again
Robotaxi Expansion to CA and AZ
Grok Coming to Cars
U.S. Ditches Crypto Broker Rule
It is Friday Fire, and we had a most amazing week!
There has been some good, bad, and ugly, but thank you all for having faith. We lost many people in early April because they thought it was the end.
Bitcoin has surged nearly fifty thousand dollars since then, which is bonkers. I do not think that I have ever called a video bonkers before… but this one is.
There was another feud escalating between the U.S. President and Elon Musk.
Then the Big, Beautiful Bill passes, which is not exactly as beautiful as people make out. It is a bit of an oxymoron. Then Elon starts the new American party, but the good news is, ever since that happened, Tesla is up $15. Thus, it did not hit the stock price at all.
The U.S. President calls for a record-breaking 300 basis point rate cut, which is 3% off. This would take us down to about 1-1.5%. By the way, if that happens, expect a huge rally in real estate. Therefore, if you have cash, consider positioning right now, as there are good deals to be had.
The U.S. FHFA director claims Fed Chair Powell is considering resigning. That would be good as it helps the 300 basis point cut happen.
Of course, the stock market rallies to new all-time highs. We are going to compare the stock market to the dollar and Bitcoin to see exactly where the truth lies.
I did promise you a good July, but I must say, I did say it will not kick off until after the second week of July. I was wrong as it kicked off earlier, which is fine, as it got many people by surprise.
So far, July is up 12%.
I told you it would be good, especially with the seasonality.
Kalshi now has a target of $141,000, and this is a new all-time high forecast.
Many people are very bullish. By the way, 119,000 was my 2023 target for Bitcoin this time around. We have nearly made it already.
We have a lot more to go because this is happening.
This is what I call institutional FOMO. These are the ETFs from yesterday, which were sucking in nearly $1.2 billion. Nearly half a billion into IBIT. Over a quarter of a billion dollars into ARK with $268.7M. A third of a billion dollars into Fidelity. Even Grayscale got a little net positive flow of $81.9 million.
It was a crazy day, and a lot of big money is flowing into the ETFs.
Everybody, there are thousands of ETFs.
There are huge ones that represent the S&P 500, the NASDAQ 100, huge indexes, and gold. Nothing, nothing
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