NUGGETS OF ALPHA
BlackRock has over 70K BTC as of February 1, 2024, adding ~18,000
54% of ETH tokens in 2023 were pump and dump schemes
The Bitcoin mining difficulty hits new ATH after a recent record 7.33% spike
Tether announced $2.85b in profit for Q4
U.S. weekly job hours plummeted to the lowest level since the C-19 lockdowns
Mixed crypto market performance:
Dark Green: LINK, TAO, and RNDR
Light Green: SOL and DOT
Red: most of the market
Bitcoin was up to $43,270, gaining 3.25%.
Solana is up 6%.
Chainlink is up 20%.
According to their website, this is the amount of Bitcoin that BlackRock held as of February 1, 2024. They currently have over 70,000 Bitcoin and added around 18,000 last week through Thursday.
Bad News:
The U.S. Federal Reserve did state that they would not cut rates in March.
Many people did not take advantage of their free money with the Jupiter Airdrop.
JPMorgan wants a piece of the stablecoin action, and they hate the fact that a small group of people generate the most profit for a company on the planet.
54% of ETH tokens in 2023 were pump and dump schemes. Go into crypto with the mindset that 98% is a scam.
If the BTFP program ends, the U.S. banks will be in a lot of trouble.
You must be in the best assets to capture alpha (top 2%).
Good News:
AI altcoins are following the narrative of traditional stocks and are red hot.
Jupiter had the biggest airdrop ever, and Solana did not miss a beat.
Solana's active addresses are now three times higher than Ethereum's, which is stunning.
The big tech companies mostly drove the stock market gains.
Long-term holders have been selling their self-custody Bitcoin and moving it to ETFs for safety. For 20 basis points, you do not have to worry about
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