RECAP: WHAT HAPPENED LAST WEEK

Weekly Recap: Bitcoin PT, Status, Payments & AI

NUGGETS OF ALPHA

• Fundstrat believes Bitcoin could soar to $180,000 by April 2024 (assumes Blackrock ETF)

• Stocks have outperformed bonds YTD, leading to a significant shift in sentiment

• Long-term Bitcoin holders have added over 1.10 million BTC this year

• BTC long-term holder supply is up to ~14.5M

• Historically, August is the only month that produces flat price results for Bitcoin

• Wall Street Banks and Elizabeth Warren working together on Crypto crackdown

• Google jumped 10%, fueled by Cloud results with impressive ad returns. Meanwhile MSFT Azure fell slightly.

• Avg interest rate on U.S. credit card balances increased to 20.7%

• U.S. M2 trending back up after going down since March 2022

• Tesla's Gigafactory Shanghai can churn out a new vehicle every 40 seconds

• The cumulative miles driven with Tesla FSD beta is now over 320M miles

• Palantir was recently named “The Messi of AI” by Wedbush’s Dan Ives on CNBC

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The Weekly Highlights:

• The Orwellian Worldcoin Protocol (WLD) launched with a controversial premise of requiring users to get their biometric data and government-issued ID verified to receive coins.

• Ethereum creator Vitalik Buterin and the British privacy watchdog raised concerns about the privacy, accessibility, centralization, and security of the Worldcoin project.

• Bitcoin and Ethereum experienced