$2.3M Bitcoin?
With Bitcoin still trading sideways, here is some hopium for you… $2.3M BTC?
But, before we find out who made this bold price prediction…
The Monthly Crypto Alpha Report was released Yesterday!
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The entire goal of our Monthly Crypto Alpha Report is to provide you with the necessary insights you need to make the most of the opportunities arising in the crypto space this month.
Here’s what’s inside:
- A macro overlook of the crypto markets to help you navigate the market trends
- The top airdrops of the month for potential quick gains
- The top altcoins to watch, selected based on in-depth analysis
- The best DeFi farms to maximize your passive income
- The most exciting NFT mints for those looking to explore the NFT space
Are you ready to embrace the wealth making opportunities that will arise this month? Then get your hands on the Monthly Crypto Alpha Report with a 7-day free trial today!
Here’s what’s in today’s issue:
- Rebecca shares her thoughts on Ark Invest’s perfect Bitcoin allocation, China conceding to crypto, UK Police seizing $1.8 billion in BTC, Celsius saying goodbye to bankruptcy & $112M in XRP tokens stolen.
- Altcoin alpha by David.
- This week’s airdrop by Jesse.
- Sam has an NFT report on the best NFT marketplaces in 2024.
📈 Ark Invest’s Perfect Bitcoin Allocation
Ark Invest just published its iconic Big Ideas report for 2024.
Over the past couple of years, Ark has been bullish on Bitcoin with a price prediction of $1.48M per coin by 2030. But this year’s prediction blows that out of the water.
With an entire section devoted to Bitcoin allocation, Ark Invest outlines the growing role Bitcoin has in investment portfolios.
Ark Invest proposes the perfect portfolio allocation of Bitcoin is 19.4% to maximize risk-adjusted returns:
- Gold: 40.7%
- Stocks: 30.2%
- Bitcoin: 19.4%
- Commodities: 9.6%
This represents a massive increase in the optimum Bitcoin allocation over the past few years, up from 6.2% in 2022.
The case is backed up by comparing Bitcoin’s performance against other investment assets. Bitcoin’s annualised returns have averaged 44% over the past 7 years, whilst other assets have averaged just 5.7%.
With this portfolio allocation of 19.4% Bitcoin, Ark Invest presented an extremely bullish outlook on price action.
In the hypothetical situation that the $250 trillion in stocks, bonds, and funds globally chose to allocate 19.4% to Bitcoin, the price would skyrocket to $2.3 million per coin.
What do you think of Ark Invest’s new price prediction? Reply to this email and let me know.
☕️ China Concedes To Crypto With Policy Change
China issued a blanket ban on crypto back in 2021, due to energy usage concerns and the threat it poses to the financial system.
Back then, China was the king of Bitcoin mining, with Chinese mining pools making up over 60% of Bitcoin’s hash rate.
But we all know, you can’t ban Bitcoin. So of course, it didn’t work. Users always find a way.
Now China is conceding to crypto and changing its Anti-Money Laundering regulations (AML).
The change is designed to add crypto-related transactions into the framework. This will be the first significant change to the regulations since 2007.
They say the use of crypto for money laundering has become more popular and current laws aren’t extended to cover the asset class.
China wouldn’t be making this change unless there is demand for crypto. By China updating its regulations, it’s admitting the ban didn’t work and it’s an asset that people are choosing to use.
The new regulations will be signed into law by 2025.
🚫 UK Police Seizes $1.8 Billion In Bitcoin
So the spot Bitcoin ETFs go live and within weeks the authorities are flaunting their Bitcoin stacks.
First up, the German police seized $2.1 billion this week. Now, it’s been revealed that UK police seized $1.78 billion worth of Bitcoin. Four devices were seized back in 2018 but took until 2021 to recover over 61,000 BTC.
The news broke during the ongoing trial of an investment fraud operation.
British citizen, Jian Wen, is accused of laundering Bitcoin for her ex-employer, a Chinese fugitive, Yadi Zhang.
Zhang stole almost £5 billion from more than 100,000 investors and converted it into Bitcoin. Wen is on trial for converting some of the Bitcoin into other assets. She even tried to buy real estate in London for £12.5 million in 2018.
The US has Bitcoin too but likes to sell it off. It will be interesting what the UK does with all this BTC.
👋 Celsius Says Goodbye To Bankruptcy
2024 is the year that crypto companies see life after bankruptcy.
Bitcoin miner Core Scientific emerged from Chapter 11 bankruptcy on January 27. Just days later, so did Celsius.
As of January 31, Celsius is back. Around 98% of Celsius creditors agreed to the exit plan which will see more than $3 billion worth of crypto and fiat refunded.
How does Celsius plan to do this? With a new Bitcoin mining company.
The company is called Ionic Digital and will be managed by fellow miner, Hut 8. Ionic will be headed up by Hut 8’s former Chief Commercial Officer.
It’s a 4-year partnership that will see Hut 8 in charge of expanding its four existing mining rigs in Texas and the development of its new Texas site.
This new site in Texas will see Hut 8 oversee 127,000 miners in total with a hash rate of 12 EH/s. Hut 8 will also host 8,500 Ionic miners at its New York rigs.
Hut 8 stands to make big bucks from this partnership deal. It expects this project to generate cash revenue of $81.5 million over the 4 years. So it’s forecasting potential earnings of over $100M and the possibility of an extension.
With a $6.4 million stake in Ionic, Hut 8 is planning to acquire more in May of this year, which could lead to two board seats.
Ionic is expected to become a publicly traded company once the approvals have been received.
🥷 $112M In XRP Tokens Solen!
Ripple has seen 213M XRP tokens stolen worth $112.5M.
Ripple’s CEO Chris Larsen confirmed the hack on X. But it wasn’t Ripple’s blockchain itself that was hacked. It instead happened through unauthorized access to Larsen’s multiple personal accounts.
The stolen funds have been converted out of XRP and laundered through multiple exchanges including MEXC, Gateio, Binance, Kraken, OKX, HTX and HitBTC.
According to Larsen, this was an isolated incident that was identified early on, and all Ripple wallets are secure.
A large part of the funds have been frozen and Ripple is trying to recover the rest.
With the next bull market approaching fast, now is the time to review your security set-up and make any changes. I We Be vigilant and stay safe out there.
Try The Rabby wallet, built by the guys over at Debank, and get points towards their airdrop.
Step 1: Download the wallet
Step 2: Import your Metamask account and claim points (assuming you are active on chain)
Step: 3 Do in wallet swaps and gas top ups
Existing Projects / Tokens
- Arbitrum [ARB] Orbit has launched. Orbit is a coding toolkit that allows developers to build their own custom L3 blockchains that ultimately settle transactions back on Arbitrum.
- Celestia [TIA] is welcoming another project into its ecosystem. This time, it’s the derivatives platform, Aevo. Aevo will be using Celestia in the near term to help save costs on transaction data. It seems that almost every week there’s an announcement of a project or chain moving to Celestia.
- Conflux Network [CFX] has released a strategic roadmap for a new layer-2 that uses bitcoin to calculate and pay for transaction fees. Developers say that the integration of bitcoin into the Conflux ecosystem will help improve transaction efficiency. Conflux is an L1, EVM-compatible blockchain.
- Ethereum’s [ETH] Dencun upgrade has passed 2 of 3 testnests, with the final occuring Feb. 7th. From there, Dencun will go live on mainnet, and introduce proto-danksharding to the network. Proto-danksharding will help reduce transaction fees both on the mainchain as well as the larger L2 ecosystem.
- Frax Finance [FXS] has released Frax Bonds (FXB tokens). FXB tokens can be purchased at a discount, and then redeemed for FRAX at its full value upon the maturity of the bond.
- LayerZero [ZRO] launched V2 on January 29th. Here’s the deep-dive if you want the details. But TLDR, V2 brings with it a host of improvements and upgrades to this omnichain interoperability protocol.
- Synapse [SYN] just launched its Request-For-Quote (RFQ) bridging service. RFQ makes bridging transactions 10X cheaper due to an auctioning process between relayers. Synapse is a multichain interoperability protocol.
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BVM Early Participants Airdrop
BVM is the new Bitcoin Virtual Machine project that deploys Turing-complete virtual machines to interact with the Bitcoin Network. BVM works by embedding smart contract transactions into Bitcoin. Similar to the Ethereum Virtual Machine, BVM uses Bitcoin as the base layer to settle all transactions created using BVM. Allowing the Bitcoin Virtual Machine to utilize Bitcoin’s security and data availability without additional network or consensus protocol.
BVM recently announced their tokenomics with 60% of all BVM tokens allocated to the community. This will be a combination of their current public sale and BVM Airdrop. If you’ve used any BVM products like Generative, Perceptrons, GM, Alpha, or are a TC user. The snapshot was taken on January 16th and will be available to Claim on January 30th.
For anyone else who hasn’t interacted with BVM, head over to the BVM Allowlist Page and get cracking. This is a points-based airdrop and will require that you post on X to grab your first 1000 points. Once that’s done you can confirm your activity on EVM-based Layer2’s and other qualifying networks to earn additional points towards this Airdrop.
NFT Marketplaces in 2024
NFT marketplaces have moved away from previously standard formats, and there’s a general shift towards trading-oriented platforms geared with NFT finance in mind.
Recently, Tensor has introduced features akin to options trading, while Magic Eden has launched its own native wallet. Additionally, there are several platforms focused on the crossover between art and NFTs, including Verse, Prohibition and Avant Arte.
TO READ THE REST OF THIS ARTICLE, CLICK HERE – “NFT Marketplaces in 2024”
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Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.
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Lark and the Wealth Mastery Team
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Wealth Mastery (Lark Davis, and the Wealth Mastery writing team) are not providing you individually tailored investment advice. Nor is Wealth Mastery registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. Wealth Mastery is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.
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