Transfer over, DizzyWhale…
There’s much more craziness taking place on this planet of crypto.
And I’m not simply speaking about MicroStrategy (Nasdaq MSTR) coming into the Nasdaq-100 at this time.
As I informed you final Friday, this transfer goes to assist perpetuate the infinite cash loop that drives MicroStrategy’s bitcoin (BTC) investing technique.
That’s as a result of any ETF that mirrors the Nasdaq-100 must add MicroStrategy inventory.
After all, meaning the inventory will possible go up with extra consumers. Which suggests Chairman Michael Saylor has extra capital to purchase bitcoin.
And the infinite cash loop retains spinning.
However I consider there’s a much bigger story right here…
Saylor and MicroStrategy have legitimized bitcoin as a monetary asset. He’s made bitcoin into one thing traders will settle for as collateral, which might be borrowed in opposition to. Like how you’ll borrow in opposition to your own home for a mortgage or in opposition to your automobile for an auto mortgage.
And this makes an excellent bookend for 2024.
Bear in mind, we started this 12 months with the approval of bitcoin ETFs. That made it doable for anybody with a brokerage account to achieve publicity to bitcoin.
And now, MicroStrategy’s inclusion into the Nasdaq-100 has legitimized bitcoin as an asset that’s acceptable for Wall Road to lend in opposition to.
We’ll look again at 2024 and consider it because the 12 months crypto began consuming the monetary system.
After all, bitcoin is only a distraction.
When it rallies, smaller altcoins are inclined to rally much more.
Talking of which…
Let me catch you up with the most recent crypto craziness.
Did He Say Fartcoin?
Final Tuesday Degen Information — an account that shares meme coin info — posted this message on X:
You’re studying that proper. A two-month-old meme coin known as Fartcoin reached a $900 million market cap.
To place that into perspective, MicroStrategy’s market cap was solely round 30% bigger than that when it began shopping for bitcoin in 2020.
However MicroStrategy was already a 30-year-old software program enterprise by then.
Anyway, this new Fartcoin obtained the eye of a gold and silver investor who was satisfied that meme cash like Fartcoins are a rip-off.
So what did he do?
Naturally, he created his personal meme coin known as Unicorn Fart Mud.
I’ll let X consumer @RealAceSpadez clarify what occurred subsequent:
That is truly hilarious apparently a boomer whos a gold and silver maxi heard about $Fartcoin hitting 500m Market cap and determined to create his OWN memecoin as social experiment within the crypto area named “Unicorn Fart Mud” $UFD trigger that’s how he sees cash in crypto as nothing however that 😂😂 it’s at the moment on
He has a YouTube channel he included on his web page that and he streamed a reside video exhibiting precisely why he’s doing it and his view on the area from a Boomers perspective, he will likely be offering updates on that channel as time goes on if this truly final and what occurs… He explicitly claims that his web page is strictly for gold and silver however he “couldn’t resist” diving into this crypto factor.
It might be hilarious if this factor sends and we utterly shatter his perspective on the fact of this area. May very well be an excellent studying expertise for him and an excellent alternative for somebody older to get launched to an area they by no means actually cared for.
This might open the door to him realizing a lot extra in regards to the crypto area basically. Let’s present him silver and gold are cooool, however you want some crypto meme cash in your life brother 🤣
I barely edited the content material above, however “Boomer” comment apart that just about sums up the scenario from final week.
However right here’s the place we stand at this time.
As I write to you this morning Fartcoin has dropped from a $1 billion valuation to a market cap of simply shy of $658 million.
Whereas Unicorn Fart Mud now has a market cap of over $107 million.
What an exquisite time to be alive!
Be Cautious Out There
In all seriousness, I don’t need you to learn this and make the rash determination to purchase one in all these meme cash.
Even the X consumer who wrote that publish notes: “Do what you need, HIGH RISK play NFA DYOR in case you get in, I imply the man informed us NOT to purchase.”
I bolded the related half.
I’m solely exhibiting you this so you will get a really feel for the way loopy issues are within the crypto area proper now.
Clearly, there’s cash to be made right here.
Based mostly on MicroStrategy’s entry into the Nasdaq-100 I see bitcoin going up and to the best.
And I consider that transfer will ship some smaller cash into the stratosphere.
However in case you’re going to put money into altcoins… you want to have a plan.
I’ve given members of my Subsequent Wave Crypto Fortunes the possibility to expertise some unbelievable beneficial properties on this area already…
Like partial beneficial properties of 4,000% and 18,000% on LUNA…
And partial beneficial properties of 1,900% and 9,555% on Solana.
However I made these suggestions after doing in-depth analysis and analysis…
I didn’t chase fartcoins.
So watch out on the market!
Regards,
Ian KingChief Strategist, Banyan Hill Publishing
Editor’s Word: In case you’re all in favour of discovering out extra about Ian’s Subsequent Wave Crypto Fortunes service, click on on this hyperlink.
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