Today’s Nuggets
This Quarter’s Top BTC Stackers Revealed
SEC Approves the First Leveraged MSTR ETF
Vanguard At It Again!
BTC Hash Up, Emissions Down… AI is Coming
The History of Debasement
Retail’s Unexpected Rebound in July
It has been a wild ride recently…
I will paint a picture of where we are today and what is going on. We are not sure what is causing this. Is it market manipulation? Is it market makers? Is it the U.S. government bag on the move? A big dump by Coinbase Prime?
This is why I always prepare a cash bag for the summer doldrums. I do not sell in May and go away but I do hoard cash.
We are now lower than yesterday's reading of 30. So people are scared.
We are not in retail Bitcoin anymore, as here is a list of the top stackers from last quarter - which are big players.
Goldman Sachs stacked a truckload of Bitcoin to the tune of $500 million and Morgan Stanley picked up over $200 million. When you look at those amounts that they are allocating as a percentage of their assets under management, it is a spit in the bucket.
We are still so early and it is hard to believe all these top names are now in the game. For those of you who are losing your minds right now, there is no need for it.
This is the time to look behind the sofa and find those nickels to deploy.
This is the first-ever leveraged MicroStrategy ETF.
The SEC, which is not a big fan of crypto, just approved the first-ever leveraged long MicroStrategy ETF. MSTX is the ticker. I may dabble but am waiting for a big capitulation moment.
With these leverage ETFs, you do not want to hold them for more than 30 days because the fees will eat you alive. Be careful of that.
This is not like any other cold exchange wallet I have seen. I have analyzed them all for years and years. The wallet sells when BTC is high and buy when it is low and do it in the same incremental manner.
Bitcoin is getting to the level now where if it gets close to $50K, I will be buying more.
I rarely buy Bitcoin because I like buying proxies with leverage and options.
Coinbase revealed a tweet about cbBTC.
This is a competitor to the Justin Sun's Tron-wrapped Bitcoin competitor. Coinbase sees an opportunity to build a strong ecosystem around their base network, a Layer 2 on Ethereum with some of their version of wrapped Bitcoin.
Vanguard has ‘vanguarded’ its customers once again.
Users with Vanguard brokerage accounts have not been able to buy spot Bitcoin ETFs during their first days of trading.
What are these people talking about? This is only vanguarding you from alpha!
Since 2013, Bitcoin has not won the year for the top-performing asset in only three years.
The years they won were 2013, 2015, 2016, 2017, 2019, 2020, 2021, and 2023. The years BTC missed were 2022, 2018, and 2014, all bear markets.
If this pattern continues, we will have
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