Transfer over, DizzyWhale…
There’s much more craziness occurring on the planet of crypto.
And I’m not simply speaking about MicroStrategy (Nasdaq MSTR) coming into the Nasdaq-100 immediately.
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 should add MicroStrategy inventory.
After all, which means the inventory will probably go up with extra patrons. Which suggests Chairman Michael Saylor has extra capital to purchase bitcoin.
And the infinite cash loop retains spinning.
However I imagine there’s an even bigger story right here…
Saylor and MicroStrategy have legitimized bitcoin as a monetary asset. He’s made bitcoin into one thing buyers will settle for as collateral, which may be borrowed in opposition to. Like how you’ll borrow in opposition to your own home for a mortgage or in opposition to your automotive for an auto mortgage.
And this makes an incredible bookend for 2024.
Bear in mind, we started this 12 months with the approval of bitcoin ETFs. That made it attainable 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 data — posted this message on X:
You’re studying that proper. A two-month-old meme coin referred to 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 received 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 referred to as Unicorn Fart Mud.
I’ll let X consumer @RealAceSpadez clarify what occurred subsequent:
That is really 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 presently on http://pump.enjoyable
He has a YouTube channel he included on his http://pump.enjoyable web page that and he streamed a dwell video displaying precisely why he’s doing it and his view on the area from a Boomers perspective, he might be offering updates on that channel as time goes on if this really 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 will be hilarious if this factor sends and we fully shatter his perspective on the truth of this area. Could possibly be an incredible studying expertise for him and an incredible 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 usually. 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 immediately.
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 choice to purchase one among these meme cash.
Even the X consumer who wrote that submit 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 displaying 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.
Primarily based on MicroStrategy’s entry into the Nasdaq-100 I see bitcoin going up and to the suitable.
And I imagine that transfer will ship some smaller cash into the stratosphere.
However in case you’re going to spend money on altcoins… you must have a plan.
I’ve given members of my Subsequent Wave Crypto Fortunes the possibility to expertise some unbelievable good points on this area already…
Like partial good points of 4,000% and 18,000% on LUNA…
And partial good points 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 King
Chief Strategist, Banyan Hill Publishing
Editor’s Notice: Should you’re keen on discovering out extra about Ian’s Subsequent Wave Crypto Fortunes service, click on on this hyperlink.
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