Crypto

• Donald Trump’s election and the subsequent bull run to 100k has emboldened Bitcoiners. Many of them are now calling for the US government to build what they call a Strategic Bitcoin Reserve.

• This idea has been floating around for a while. Robert Kennedy Jr. gave it a big boost in July when he promised to make the Treasury buy a quarter of all Bitcoin in circulation was he elected as president.

• Since the election, various crypto celebrities have chimed in and politicians at the state and the federal level have come up with policy proposals to push this agenda.

• Michael discusses the journey from being a non-believer in bitcoin to a strong advocate and investor in the asset class
• He compares his investment strategy in bitcoin to Warren Buffet’s investment in Apple, emphasizing the importance of owning and holding onto assets
• Michael explains his belief that there are three ways to make money: making something, trading something, or owning something, and highlights his focus on owning and holding assets as a key to success.

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• In Crypto Moves #44 from September 19, we stated that Ethereum would shine again.
• This prediction appears to be steadily materializing.
• Since the U.S. Presidential election, Ethereum has regained some of the ground it has lost against Bitcoin during the year.

• President-elect Donald Trump has become a prominent figure with the cryptocurrency market, primarily because of his ambitious vision to transform the United States into the “crypto capital of the planet.” This outlook is undoubtedly positive, as the United States holds the title of the largest capital market globally and wields significant influence on the international stage.
• However, many in the crypto market appear to overlook another highly encouraging regulatory development.
• This involves the European Union’s comprehensive Markets in Crypto-Assets (MiCA) regulatory framework, which will be fully implemented across EU member states on December 30th.

• The onchain economy has experienced unprecedented growth in 2024, with a 70% increase in total value locked (TVL) across major networks, surpassing $70 billion.
• Key drivers include the adoption of stablecoins, Layer 2 solutions, gaming, collectibles, and institutional interest.
• Base, an Ethereum Layer 2 incubated by Coinbase, stands out with 1,600% growth in daily transactions and a 470% rise in TVL since January.

• Last Thursday, I shared my conviction in our Telegram crypto chat:
• My two cents: We touch $100,000 (or very close) but we do not comfortably get on the other side.
• This makes all the leverage and open interest (and retail euphoria) turn against us.
• After witnessing the Bitcoin price face repeated rejections since then, I am even more confident in this view.

• In the second edition of Crypto Moves, published almost exactly a year ago, I shared this conviction:“Perhaps the only thing you want to know is: Do we expect the Bitcoin halving to cause a new run?”“The short answer is yes.
• In this edition of Crypto Moves, we assess Bitcoin’s current position in its historical 4-year cycle. The 4-year cycle is fundamentally tied to Bitcoin’s halvings, which occurs roughly every four years and halves the mining block reward.
• This process has now taken place four times, reducing the reward from 50 bitcoins per block to just 3.125 bitcoins per block.

• In Crypto Moves #18 from early March this year, we referred to this crypto bull market as the least speculative in the history of the crypto market.
• By Crypto Moves #35 in early July, we reaffirmed this view.
• Meanwhile, during this period, Bitcoin had outpaced almost every other altcoin.

• Blockchain technology provides decentralized, transparent, and immutable digital ledgers, revolutionizing how transactions and data are managed without reliance on centralized authorities or intermediaries.
• Tokens enable participation in blockchain ecosystems by providing access to services, governance rights, or value transfers, playing a key role in incentivizing user engagement and network growth.
• Foundations and companies shape the development of blockchain projects, issuing tokens to fund innovation, promote decentralization, and drive community-driven governance, supporting the evolution of Web3 technologies.

• A new all-time high for Bitcoin is within reach, which aligns with the strength we anticipated in last week’s Crypto Crisp.
• As we have repeatedly emphasized, this quarter is primed for significant price growth due to a convergence of favorable factors.
• These include increased U.S. Dollar liquidity, strong seasonal trends, Chinese economic stimulus, and the post-fourth Bitcoin halving phase, which has historically led to substantial returns.

• Panel discussion with top analysts on the project Bittensor
• Bittensor founded to decentralize AI and promote open source AI movement
• Project has evolved from text prompting network to network for digital commodities, encompassing entire AI development process

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

• Last Thursday, Uniswap, the leading decentralized spot exchange, announced its upcoming Layer 2, also known as rollup, on Ethereum, called Unichain.
• For a detailed explanation of Ethereum rollups, please see Crypto Moves #16.
• This new rollup will be based on Optimism’s Superchain technology, which also powers Coinbase’s Base rollup and the soon-to-launch Layer 2 from Sony.