Today’s Nuggets
Is Owning 0.01 BTC Worth It?
Mr. 100 Signals Looming Supply Crunch
Bitcoin to Attract $1T
Exploring Historical BTC Prices and Multiples
Block Wars Part II & Occam’s Razor Logic
Crypto Market’s Path to 1B Users: Meme Coins?!
Tesla’s Price Down Despite Most Bullish Signals?!
Crypto Market Update:
The global crypto market cap is $2.65 trillion, with a 24-hour volume of $74.73 billion.
The price of Bitcoin is $70,012.68 and has been in a super tight trading range for three days now.
The price of Ethereum is $3,538.43, and ETH market dominance is 16.0%.
The Crypto Fear & Greed Index is currently Greed (76).
There is a lot of green across the board this week:
ETH +5%
SOL +5%
ADA +5%
BNB down a bit
For two weeks, Bitcoin has been very stable at $70K. Overall, it was a positive week for altcoins, with a few dark green spots.
Mr. 100 was away from his keyboard for about three days and has now returned, buying 766 BTC in 24 hours!
In those 24 hours, Mr. 100 could not buy 100 BTC units - as he had been doing consistently - and was forced to buy in chunks instead.
We are not sure who Mr. 100 is yet, but they are someone with a lot of money who has made over $2B in gains from their Bitcoin purchases in just four months… an oversimplified DCA strategy!
As reported by @martypartymusic, a recent 15519 BTC purchase occurred on ByBit for a fee of $17.21. The smart money knows that Bitcoin's price will be moving up post-halving and is positioning accordingly.
Matt Hogan from Bitwise stated that even a very modest average allocation of one percent from global institutions could result in $1T of capital entering into the BTC ETFs.
Of course, I am going to ask myself the question: What happens to the BTC price if $1T comes into the space?
So I ran three scenarios:
21x multiplier from the Tesla purchase impact way back in 2021.
56x is my pre-halving multiplier.
112x is my post-halving multiplier.
If the Bitwise CEO is correct,
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