Gm friends,
What if I told you that there’s a correlation between the price of Bitcoin and… US politics?
Yep, the aftermath of every election since 2016 has seen the price of Bitcoin soar. Check it out.
But what does this mean for 2025? Well, if the recent price surge is anything to go by… we look set to enter the New Year on a roaring bull run 🚀
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Here’s what’s in today’s issue:
- Chart of the day: Is the dollar set for it’s 8th week of gains?
- Rebecca shares her thoughts on Bitcoin’s road to $100k, Gary Gensler stepping down, China coming back to crypto, Sui suffering and outage & Coinbase wanting more memecoins in 2025.
- Today on chain.
- Altcoin Alpha.
- This week’s airdrop by Jesse.
Chart of the Day
The US Dollar has seen 8 weeks of gains now, yet Bitcoin has rallied around 50% during this time as USD has been strengthening.
Usually, risk assets would take a hit when the US dollar is rising, but Bitcoin just doesn’t care—for now. So far, stocks, Bitcoin and gold have had a great year despite the US Dollar rising over 3% in 2024.
The US Dollar Index (DXY) is something to keep an eye on in case it breaks higher, but fingers crossed Bitcoin can hold strong and continue up from here.
News Now
Bitcoin’s Road To $100K
Bitcoin’s journey toward $100K has been surreal to watch in real time. Now, things are picking up speed. This week has been jam-packed full of BTC announcements, so here’s what you need to know…
Bitcoin ETFs Hit New Milestone
The US spot Bitcoin ETFs collectively reached a total of $100 billion in assets for the first time on November 21.
With over $1 billion in net inflows for 4 consecutive days alone, it means if you blinked then you missed most of the move from $90 billion to $100 billion.
These ETFs are inching closer to surpassing Gold ETFs which currently hold around $121 billion in assets and are also 97% of the way to Satoshi’s stack.
Corporate Adoption Explodes
For the best part of 4 years, MicroStrategy has stood alone with its corporate Bitcoin strategy. Not anymore.
This week alone has seen three new companies join in.
First up, Cosmos Health will add Bitcoin and Ethereum to its balance sheet. Its CEO has said “This strategy will help us stand out by making a significant investment in the new era.”
Then, Acurx Pharmaceuticals and Hoth Therapeutics will each allocate up to $1 million in Bitcoin as an inflation hedge and store of value.
Meanwhile, Bitcoin miner Marathon has raised $1 billion in convertible bonds to buy Bitcoin.
MicroStrategy Completes Another Debt Raise
In the same week that MicroStrategy announced it had just bought 51,780 more BTC for $4.6 billion, it’s completed yet another $3 billion raise to buy yet again more BTC. Michael Saylor is working in overdrive to get as much BTC under $100K as possible.
And it turns out, there’s been a surprising buyer of MicroStrategy’s bonds. Germany’s biggest insurance company, Allianz, has bought 24.75% of MicroStrategy’s 2031 convertible bond. So despite the German government selling its Bitcoin holdings, there is institutional demand for BTC.
Charles Schwab Will Expand Crypto Offering
With a new CEO incoming, Charles Schwab will be expanding its crypto offering. Rick Wurster will join Charles Schwab as its new CEO on January 1 and plans to start offering its clients direct access to crypto through spot trading.
And a change in the regulatory environment is all it will take for these plans to come to fruition. As for whether this new CEO owns crypto himself, the answer is no. He’s said, “I have not bought crypto, and now I feel silly.”
Goodbye, Gary Gensler!
Phew! You can breathe a sigh of relief.
The anti-crypto reign at the SEC is over. Just last week, SEC Chair Gary Gensler delivered a speech which sounded more like a farewell speech, after saying he’s “been proud to serve” at the SEC.
Well now, it’s official—he’s outta there. But not so fast. He won’t be stepping down as SEC Chair until Donald Trump’s inauguration on January 20. Of course, he is! Dragging it out as long as possible.
But the end is in sight, and the crypto industry can finally move forward.
Gary Gensler’s crypto crackdown has seen the SEC battle Ripple since December 2020 and exchanges like Coinbase, Binance and Kraken since 2023. Not to mention the countless attempts to instigate legal action against Immutable, Uniswap, Robinhood, Cryptocom and Consensys.
So after all that, Gary Gensler’s biggest achievement as SEC Chair will be “stepping down.” He’s getting trolled so hard right now on X…
Welcome Back, China
It isn’t a bull market until China unbans crypto for the 100th time. So I guess, the bull market is only just beginning! On November 18, a Shanghai judge ruled that owning cryptocurrencies is now not illegal in China, declaring that digital assets have “property attributes.”
However, the ruling does come with some drawbacks. This new classification is only for personal, individual ownership, not as legal tender or investment tools. So it means businesses can’t issue tokens or make cryptocurrency transactions. So whilst it’s not a free-for-all, it is a softening in China’s approach to cryptocurrencies. And will allow more money to flow into the crypto market this cycle.
Sui Suffers An Outage Then Signs A Big Deal
If Sui really wants to be the next Solana killer, then network outages are part of the deal. The Sui network suffered an outage on November 21 that stopped the network from processing transactions and producing new blocks for around two hours. It’s been confirmed by the Sui team that the outage was caused by a bug in transaction scheduling logic, causing validators to crash.
This isn’t the first time Sui has suffered an outage, after doing so in July 2024 relating to the network’s RPC nodes. However, it’s the first time Sui has suffered an issue with its mainnet validators since launching in May 2023. Due to the outage, the SUI token dropped almost 10% in 24 hours. A fix for the bug has been deployed and the issue has now been resolved.
It’s not all bad for Sui though, as the team has just announced a strategic partnership with $1.5 trillion asset manager, Franklin Templeton Digital Assets. Through the partnership, Templeton will support Sui on build and launch. Solana, watch out!
Coinbase Wants More Memecoins In 2025
Last week, Coinbase listed memecoins PEPE and WIF. This week, Coinbase listed memecoin FLOKI. Now, degens are speculating on which memecoins Coinbase will list next…will it be BRETT? PEPU? Whilst it’s anyone’s guess for now, Coinbase has made one thing clear…there will be more memecoin listings coming in 2025. And it’s all thanks to crypto cheerleader, Donald Trump.
With a pro-crypto President, the crypto industry could see more favourable regulations and fewer constraints.
So Coinbase’s VP of International Policy has said that it expects “to do more with some of those projects and some of those tokens that we weren’t able to offer and some of the services we were not able to offer Americans. We’re talking more about some of the smaller tokens, some of the memecoin tokens.”
Buckle up, the memecoin supercycle may just be getting started.
Today On Chain
Cardano is finally making a comeback after its TVL bounced back from $202.42 million in August to an ATH of $607 million on November 20. On-chain volume in November has also jumped from $1.4 million to $17.34 million. Cardano’s revival has sent its ADA token price skyrocketing by 137% in November from $0.34 to $0.86.
And it looks like memecoin mania is partly responsible for bringing this ghost chain back to life. The memecoin SNEK has gained 283% so far this month from the lows to the highs. If this continues, SNEK could drive more memecoin activity to the network. Elsewhere, lending protocol Liqwid is up 229% and Cardano DEX Minswap has seen a 72% increase in activity in the last 4 weeks.
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Altcoin Alpha
- Injective [INJ] has created its first AI token, created entirely from its newly launched on-chain AI Agent. iAgent uses LLMs like Open AI’s ChatGPT to allow users to command it to complete Injective tasks.
- Solana [SOL] has hit a new all-time high and is officially in price discovery mode. The ATH comes after Bitwise became the 4th asset manager to file for an ETF application with the US SEC.
- Jito [JTO] has launched a new proposal (JIP-10) that if passed, will see JTO staking added to the TipRouter NCN. This is good news for JTO token holders as it means you potentially stand to receive a payout for securing the network.
Weekly Airdrop
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Final Notes
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.
If you are reading this it means you are on the free version of the Wealth Mastery Investor Report, which is great for news and tips on the crypto markets.
If you really want to take advantage of fastest growing asset class EVER, then the Premium subscription is for you.
Premium Members get access to:
- My updated portfolio
- Technical Analysis from Rekt Capital
- Deep dives on altcoins
- DeFi tutorials
- Airdrop reports
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The time to build your portfolio is now. Don’t get left behind.
See you next time!
Lark and the Wealth Mastery Team
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Legal Disclaimer
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.
You can find a full disclosure of all my crypto & venture investments here.
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
