HOW THE PRESIDENTIAL ELECTION IMPACTS CRYPTO 🏦
BREAKING: Trump’s potential return could catalyze major uptick in alt investments like Bitcoin

Bitcoin
A recent report from Standard Chartered predicts that a Trump election victory would be beneficial for Bitcoin and crypto.

(Standard Chartered is the 44th largest bank in the world)

Here’s what the report had to say:

“We think that a second Trump administration would be broadly positive via a more supportive regulatory environment… In a scenario of U.S. fiscal dominance, we think Bitcoin would provide a good hedge against de-dollarization and declining confidence in the U.S. Treasury market.”


Geoff Kendrick
And, In a recent speech Trump mentioned that if you like crypto you “better vote for Trump.”

Looks like Trump is fully embracing crypto now…

Trump tweet
Click to watch

Whats more is that Trump has begun to accept campaign donations in crypto…

Isn’t It wild to see how far crypto has come?

We’ve now got presidential candidates mentioning how they plan to integrate it…

(RFK jr. is set to speak at the Consensus 2024 crypto conference later this month)

Closing out the report, Standard Chartered reaffirmed there 2024 price target of $150,000.

They’re also predicting $200,000 by the end of 2025.

SIMPLE BITCOIN STRATEGY 🤑
Just buy it.

Then hold it.

That’s all there is to it.

That’s the latest message out from Anthony Pompliano.

pomp
In his latest interview, Anthony Pompliano broke down his simple Bitcoin thesis and strategy.

Kicking the interview off, Pomp mentioned Bitcoin’s 200-day moving average recently set a new all-time high:

(We went over this the other day, check it out here)

“Over the long-run, Bitcoin is probably the most desirable asset in the world. People around the world continue to buy this thing and that’s why you’re seeing that 200-day moving average continue to go up.”


Anthony Pompliano
We all know that the approval of the Bitcoin ETF’s is a huge long-term tailwind.

But Pomp was asked “are there any other catalysts on the horizon?”

Here’s what he had to say:

“The federal reserve is the greatest Bitcoin proponent possible. Because they are going to continue to debase the dollar.”


Anthony Pompliano
The US government isn’t going to stop printing money anytime soon.

It’s the same thing with real estate.

Over the short-term, there may be some volatility…

But if you buy real estate and hold it for 20 years, very few places in the world have not seen the value of that real estate go up in value.

The continued debasement of the dollar causes all assets to increase in value over the long-run.

It just so happens that Bitcoin and crypto increase in value at a much faster rate than real estate.

“The dollar is losing value. And there’s only 21 million Bitcoin. Somebody is going to have to pay you more dollars in the future to buy that same Bitcoin. It really does incentivise long-term thinking.”


Anthony Pompliano
With this in mind, Pomp encourages a long-term strategy when it comes to Bitcoin.

The volatility that comes with Bitcoin makes it an extremely hard asset to trade successfully.

“Buying it, just holding it and waiting is one of the best strategies”

most importantly you get free advice from all sorts of idiots.

THE FUTURE OF BITCOIN 🔮
By 2040, every corporation can expect to work with Bitcoin in some way.

That’s the latest prediction out from Michael Saylor.

Saylor
In his latest interview, Saylor broke down exactly how he sees the future of Bitcoin playing out.

The approval of the Bitcoin ETFs in January 2024 is the beginning of the corporate adoption era.

“2024 kicked off the era of corporate adoption and institutional adoption of Bitcoin.”


Michael Saylor
Saylor believes that 2024 - 2028 will see major banks around the world become Bitcoin custodians:

“This is the period when we’ll see some major banks. Banks in South America, banks in Europe or banks in the US. They will become Bitcoin custodians. Who will be the leader in that space? We’ll know by 2028.”


Michael Saylor
2024 - 2028 will also see large corporations adopt Bitcoin as a treasury asset.

Saylor explains that large corporations typically move VERY slowly on big decisions like these. (think about the number of compliance meetings…)

But as Bitcoin becomes more mainstream, it’ll be clear that it’s the right move.

“This is the year when you’ll start to see large corporations adopting Bitcoin as a treasury asset. We’ll have fair value accounting and it’ll become much more normal. You’ll start to see a universe of 20, 30, 40, 50, 100 companies that have some Bitcoin exposure.”


Michael Saylor
Beyond 2028, Saylor is forecasting “breakneck growth” for Bitcoin.

The next 12 years (2028 - 2040) will see Bitcoin become a growth industry.

And every corporation can expect to work with it in some capacity.

“From 2028 on to maybe 2040… That’ll be just breakneck growth… That’ll be the growth years… From there it will be a growth industry… Every corporation will expect to work with it. Everybody will understand it.”


Michael Saylor
After 2040, Bitcoin will be 30 years old.

Saylor makes the comparison that this period will be like the first 30 years of the internet.

So in Saylor’s opinion, it sounds like we’re still extremely early…

THE FUTURE OF BITCOIN 🔮
By 2040, every corporation can expect to work with Bitcoin in some way.

That’s the latest prediction out from Michael Saylor.

Saylor
In his latest interview, Saylor broke down exactly how he sees the future of Bitcoin playing out.

The approval of the Bitcoin ETFs in January 2024 is the beginning of the corporate adoption era.

“2024 kicked off the era of corporate adoption and institutional adoption of Bitcoin.”


Michael Saylor
Saylor believes that 2024 - 2028 will see major banks around the world become Bitcoin custodians:

“This is the period when we’ll see some major banks. Banks in South America, banks in Europe or banks in the US. They will become Bitcoin custodians. Who will be the leader in that space? We’ll know by 2028.”


Michael Saylor
2024 - 2028 will also see large corporations adopt Bitcoin as a treasury asset.

Saylor explains that large corporations typically move VERY slowly on big decisions like these. (think about the number of compliance meetings…)

But as Bitcoin becomes more mainstream, it’ll be clear that it’s the right move.

“This is the year when you’ll start to see large corporations adopting Bitcoin as a treasury asset. We’ll have fair value accounting and it’ll become much more normal. You’ll start to see a universe of 20, 30, 40, 50, 100 companies that have some Bitcoin exposure.”


Michael Saylor
Beyond 2028, Saylor is forecasting “breakneck growth” for Bitcoin.

The next 12 years (2028 - 2040) will see Bitcoin become a growth industry.

And every corporation can expect to work with it in some capacity.

“From 2028 on to maybe 2040… That’ll be just breakneck growth… That’ll be the growth years… From there it will be a growth industry… Every corporation will expect to work with it. Everybody will understand it.”


Michael Saylor
After 2040, Bitcoin will be 30 years old.

Saylor makes the comparison that this period will be like the first 30 years of the internet.

So in Saylor’s opinion, it sounds like we’re still extremely early…

HERE THEY COME 🤑
BREAKING: Susquehanna discloses $1.3 billion in spot Bitcoin ETF investments

Bitcoin
Susquehanna International Group has just disclosed $1.3 billion of investments in Bitcoin ETFs. 🤯

Susquehanna is one of the largest companies to invest in spot Bitcoin ETFs today.

Estimates put their assets under management at ~$481 billion.

This disclosure comes from a 13F filing with the SEC.

A 13F is a mandatory quarterly report required from institutional investment managers with at least $100 million in assets under management. These disclosures give insights into current equity holdings.

Here’s the breakdown of Susquehanna’s Bitcoin holdings:

17.3 million shares of Grayscale’s GBTC: $1.1 billion

1.3 million shares of Fidelity’s FBTC: $83.7 million

583,049 shares of BlackRock’s IBIT: $23.6 million

560,832 shares of Bitwise’s BITB: $21.7 million

508,834 shares of Ark’s ARKB: $36.1 million

256,354 shares of VanEck’s HODL: $20.6 million

255,814 shares of WisdomTree’s BTCW: $19.3 million

166,200 shares of Invesco’s BTCO: $11.8 million

192,391 shares of Valkyrie’s BRRR: $3.9 million

(This filing also only discloses purchases made up until March 31st, 2024)

Did you notice one of the Bitcoin ETFs missing from the list?

Susquehanna is currently invested in nine of the ten Bitcoin ETFs on the market.

But, Franklin Templeton’s EZBC didn’t make the cut… (ouch)

We’ve heard from many of the ETF issuers that institutional investment in Bitcoin is only just beginning.

And here it is, the first of (hopefully) many LARGE company filings. 😎

HERE THEY COME 🤑
BREAKING: Susquehanna discloses $1.3 billion in spot Bitcoin ETF investments

Bitcoin
Susquehanna International Group has just disclosed $1.3 billion of investments in Bitcoin ETFs. 🤯

Susquehanna is one of the largest companies to invest in spot Bitcoin ETFs today.

Estimates put their assets under management at ~$481 billion.

This disclosure comes from a 13F filing with the SEC.

A 13F is a mandatory quarterly report required from institutional investment managers with at least $100 million in assets under management. These disclosures give insights into current equity holdings.

Here’s the breakdown of Susquehanna’s Bitcoin holdings:

17.3 million shares of Grayscale’s GBTC: $1.1 billion

1.3 million shares of Fidelity’s FBTC: $83.7 million

583,049 shares of BlackRock’s IBIT: $23.6 million

560,832 shares of Bitwise’s BITB: $21.7 million

508,834 shares of Ark’s ARKB: $36.1 million

256,354 shares of VanEck’s HODL: $20.6 million

255,814 shares of WisdomTree’s BTCW: $19.3 million

166,200 shares of Invesco’s BTCO: $11.8 million

192,391 shares of Valkyrie’s BRRR: $3.9 million

(This filing also only discloses purchases made up until March 31st, 2024)

Did you notice one of the Bitcoin ETFs missing from the list?

Susquehanna is currently invested in nine of the ten Bitcoin ETFs on the market.

But, Franklin Templeton’s EZBC didn’t make the cut… (ouch)

We’ve heard from many of the ETF issuers that institutional investment in Bitcoin is only just beginning.

And here it is, the first of (hopefully) many LARGE company filings. 😎

BITCOIN AS STRONG AS EVER 📈
Bitcoin’s long term trend indicators are at their highest ever levels.

Today we’ll be taking a look at:

🟢 200 Day Moving Average (200DMA): sums the last 200 days of Bitcoin’s closing price and divides it by 200 to smooth out fluctuations

🔴 200 Week Moving Average (200WMA): same as 200DMA but uses weekly closing price instead

onchain
The 200DMA just hit an all-time high of $50,087.

And the 200WMA also just hit an all-time high of $34,142.

Both of these metrics suggest a long-term bullish outlook.

What’s more is that Bitcoin’s price has been trading above both of these indicators since October 2023.

Once again suggesting a bullish outlook.

(The opposite is also true - Bitcoin trading below these indicators is bearish)

Speaking with CNBC, Anthony Pompliano mentioned this breakthrough:

"Bitcoin’s 200 day moving average just hit a new all-time high. Don’t get lulled to sleep by Bitcoin going sideways. The long-term thesis is as strong as ever.”


Anthony Pompliano
Sometimes you have to look past the short-term volatility.

Over the long run, Bitcoin continues to trend upwards.

It may not feel like it right now but Bitcoin is as strong as ever.

BITCOIN IS THE ANSWER 💸
Government debt is spiralling out of control.

The only option?

Bitcoin.

That’s the latest message out from Larry Lepard.

Larry Lepard
For those of you who don’t know Larry, he’s:

Founder & Managing Partner of Equity Management Associates

Graduated from Harvard, with 40 years of finance experience.

Huge sound money advocate (money that cannot be printed) - previously focused on gold but now his attention has shifted to Bitcoin

In hist latest interview, Larry explained that the need for sound money is more important than ever.

More and more people are realising just how bad the current situation really is.

“The world wide awareness of the problem, the problem being too much debt and too much money printing to cover the debt, is spreading. As it spreads, people naturally say to themselves that they need to invest in things that the government cannot print. Gold and Bitcoin fit that model.”


Larry Lepard
And the problem is only getting worse.

Checkout this chart first posted by Larry back in 2019.

The blue line generates income to pay for debt interest on the red line…

The gap shouldn’t be widening like that…

debt chart
Larry first posted this to Twitter on October 15, 2019

U.S. Government debt is getting out of control.

“The US federal debt is growing at ~10% per year and US GDP is growing at ~2.6% per year. That’s a problem because that GDP is what’s used to pay that debt and at some point there’s going to be a day of reckoning.”


Larry Lepard
As more and more people come to understand this issue, Larry believe’s they’ll turn to Bitcoin as it’s the only option.

According to Larry, the next 10 years will see Bitcoin’s adoption level explode.

“The next 10 years is going to be the Bitcoin gold rush. From 2024 to 2034 the entire world is going to come to embrace this thing.”


Larry Lepard
Continuing on, Larry explains:

“What we’ve got here is a form of money that’s superior to government money. And if you look at history, the best technology always wins.”


Larry Lepard
To many, Bitcoin is hope.

ARE WE EARLY? 🤔
We get asked all the time:

Isn’t it too late to get started in crypto?

And that couldn’t be further from the truth…

Today, we’ll show why we’re still early.

To do that we’ll be taking a look at the classic Bitcoin HODL Waves.

Each coloured band shows the percentage of Bitcoin that last moved within that time period.

As the colours get cooler, the age bands get older (yellow being the oldest, representing coins last moved within the last 3 - 6 months).

We’ll just be focusing on short-term holders today.

onchain
Here’s the breakdown:

24hr: 0.48%

1d - 1w: 2.38%

1w - 1m: 3.60%

1m - 3m: 13.43%

3m - 6m: 6.32%

That’s ~26.21% of the Bitcoin supply that has moved within the last 6 months.

Which leaves ~73.79% of the Bitcoin supply having not moved in 6+ months. 🤯

That’s an insane amount of the supply not moving.

We like to use this metric as a FOMO (fear of missing out) indicator.

As the price of Bitcoin increases, the amount of short-term holders also increases.

This is due to long-term holders deciding to take profits by selling their coins. (This makes those coins “young” again) 🤑

You can see in the chart above, it begins to spike as Bitcoin reaches new highs.

Although, each spike has been smaller than the previous one. Which means the amount of long-term holders increases with each cycle.

With such a limited amount of Bitcoin available for sale right now.

So yes, based off this chart, we’re still early…

BITCOIN NETWORK MILESTONE 🏆
BREAKING: Bitcoin reaches one billion transactions

Bitcoin
The Bitcoin network has just hit a huge milestone.

After 15 years, the network processed its one billionth transaction. 🥳

The 1,000,000,000 transaction was processed in block 842,241 at 9:34pm UTC on May 5th.

saylor
Bitcoin’s first ever transaction took place on 3rd January, 2009. So this milestone comes 15 years, fourth months and four days after Bitcoins creation.

On average the network has processed 178,475 daily transactions over its 5,603 day existence.

Bitcoin transactions
This milestone also doesn’t include any transactions made on the Lightning Network - this is strictly layer 1 transactions.

And it reached this milestone without a single government, bank or corporation in control.

An absolutely massive achievement for the network.

And we’re only just getting started.

GRAYSCALE RECORDS AN INFLOW? 🤔
BREAKING: Grayscale’s GBTC stops bleeding: First inflow since launch

bitcoin
Is this some kind of miracle?

For the first time since launch, Grayscale’s GBTC has recorded an inflow.

After 4 months of continual outflows and ~$17.5 billion leaving the fund, Grayscale recorded a net inflow of $63 million.

Franklin Templeton also recorded their largest ever inflow of $60.9 million.

Here’s the breakdown for yesterday’s flows:

Fidelity (FBTC): $102.6 million 🥇

Grayscale (GBTC): $63 million 🥈

Franklin Templeton (EZBC): $60.9 million 🥉

ETF flows
With all issuers recording inflows, yesterday saw $378.3 million flowing into the Bitcoin ETFs.

Breaking the streak of 7 straight outflow days.

Even ETF analyst Eric Balchunas couldn’t believe Grayscale actually recorded an inflow:

Eric tweet
As a result of these inflows, Bitcoins price jumped back above $60,000.

At the time of writing Bitcoin is hovering around $63,000.

Clearly inflows from the ETFs and Bitcoins price are heavily correlated…

Bitcoin
We’re so back. 😎

WALLET ADDRESSES EXPLODING 🤯
Today we’ll be taking a look at the number of addresses with a non-zero balance.

It provides a high level overview of the Bitcoin network’s user base/activity.

Keep in mind though, one wallet does not equal one user. A user can have many wallets.

What matters here is the trend of the chart.

Increasing number of addresses: increasing adoption levels 📈

Decreasing number of addresses: indicates users are selling their entire balance or consolidating wallets 📉

onchain
Notice how this chart has always been trending upwards?

A clear sign that the Bitcoin Network has expanded every single year.

As of today there are 52,521,810 addresses with a positive balance.

Two weeks ago this metric was at 52,092,112 wallets.

That’s an increase of +429,698 wallets. 😱

The likely reason for this insane growth over the past two weeks is the rise of Bitcoin Ordinals & Runes.

Ordinals are basically NFTs for Bitcoin.

And Runes allow the creation of memecoins and other tokens on Bitcoin.

If you’d like to learn more about Ordinals & Runes, click here.

Simple takeaway from this data:

The use-cases of Bitcoin are still growing, 15 years into its existence.

And the network continues to expand every single year.

Bullish.