BlackRock To Send Bitcoin To $300K?
We’re less than 50 days away from Bitcoin’s halving, demand is getting greater, and the price predictions are getting bolder.
Are you bullish enough?
This is your weekend crypto update…
Here’s what’s in today’s issue:
- Rebecca shares her thoughts on why you’re not bullish enough about Bitcoin, Solana skyrocketing, a Bitcoin Hollywood heist movie in the works & Interest rate updates.
- Altcoin alpha by David.
- This week’s airdrop by Jesse.
- Sam has an NFT report on the best NFT blockchain.
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You’re Not Bullish Enough On Bitcoin
Here are 4 reasons to be even more bullish than you are right now on Bitcoin:
1. Bitcoin To $300K
Tether co-founder William Quigley told CNBC on National Television that this cycle may be the biggest rally in Bitcoin we’ve ever seen.
If historical patterns are applied, he said Bitcoin could hit over $300,000 per coin by the peak of the bull market.
With the spot Bitcoin ETFs drawing in between $150M-$500M in daily inflows, they certainly will add some spice to the cycle like no other before.
It’s not just the ETFs that will send Bitcoin soaring. Quigley also noted that “Bitcoin is maybe the only globally traded asset whose demand is purely based on sentiment.
Sentiment has no limits. You can always be more optimistic.”
Rich Dad, Poor Dad author Robert Kiyosaki also has a $300K target in mind…but for 2024! The mega bulls have arrived.
2. MicroStrategy Is Buying More BTC
Michael Saylor says he is never selling Bitcoin. Only buying more.
So just two days after announcing a $600 million raise to buy more Bitcoin, MicroStrategy is upping its game.
The raise has now increased from $600 million to $700 million.
The details of the raise have been made public and it shows that MicroStrategy is borrowing $700 million for 6 years with a teeny tiny interest rate of 0.625% to buy more Bitcoin.
Michael Saylor is certainly looking like a genius right now.
3. BlackRock Wants More BTC Exposure
BlackRock has filed with the Securities and Exchange Commission (SEC) to add spot Bitcoin ETFs to its funds.
Blackrock specifically wants to add its own spot Bitcoin ETF (IBIT) to its Global Allocation Fund (MALOX).
Of course, the filing also makes it possible for BlackRock to add spot Bitcoin ETFs from other providers into the fund too.
BlackRock’s Global Allocation Fund currently has $17.8 billion in assets. A similar filing has also been made by BlackRock for its Strategic Income Opportunities Fund (BSIIX).
4. Ordinals Infrastructure Is Growing
Bitcoin Ordinals wallet called Oyl has raised $3 million in pre-seed funding.
It’s received backing from investors such as Arthur Hayes and BRC-20 token standard creator Domo, whilst VC firm Arca led the funding round.
It’s expected that the wallet will launch in the coming weeks and will be the first to offer in-wallet Ordinals trading.
Just how high will Bitcoin go? Reply to this email with your Bitcoin price target for 2025.
Solana Is Skyrocketing
Solana is up 16x from the November 2022 lows.
Being greedy when others are fearful is the name of the game. Bears are in disbelief!
This is what’s happening in the Solana ecosystem that’s sending it skyrocketing…
VCs are back!
In the last cycle, it was FTX buying up Solana tokens. Now, it’s Pantera Capital. And it’s raising money to buy $250 million in discounted SOL tokens from the FTX estate for its Solana Fund.
You can’t make this stuff up! Pantera’s pitch deck proposes a SOL buy price of $59.95, which is around 57% lower than the current market price.
However, investors must agree to a vesting period of up to four years.
It’s Airdrop Season
Solana set the stage for airdrop season with its JUP token back in January and the drops are continuing in April with:
- Kamino Finance (DeFi)
- IONET (DePIN)
- Zeta Markets (DEX)
- Drift Protocol (DEX)
- Parcl (Real Estate)
Memecoin Mania
BONK has been dethroned as Solana’s most valuable memecoin.
Dogwifhat flipped BONK after being listed for trading on Binance. WIF’s market cap surpassed $2 billion, overtaking BONK’s by around $100 million.
A Bitcoin Hollywood Heist Movie Is Coming Soon
Hollywood is fascinated with crypto but not in the way we would like to see.
The mainstream still wants you to believe it’s only used by criminals.
Amazon MGM Studios is making a movie called “Dutch & Razzlekhan” about a real-life couple who get caught laundering over $8 billion in Bitcoin back in 2022.
Known as Bitcoin’s Bonnie and Clyde, Heather “Razzlekhan” Morgan and Ilya “Dutch” Lichenstein hacked into Bitfinex and stole almost 120,000 Bitcoins.
It took them 5 years and almost 2,000 transactions to steal and conceal the funds. Their multi-year-long laundering spree dates back to 2016!
The lead characters for the movie have been cast and will see Chloë Grace Moretz as Heather and Lewis Pullman as Ilya. The movie will start filming this summer so I guess we can expect it to be released just in time for the next cycle top and incoming bear market.
Fed Says “Almost There” To Interest Rate Cuts And “No” To A CBDC
Investors haven’t been sitting on the sidelines waiting around for interest rates to get cut—assets have rallied regardless. But this bull market is only just getting started.
The Fed is getting closer to cutting rates and stimulating the economy to avoid a recession.
The market was pricing in rate cuts from March, but it seems the Fed is looking to push this out a little longer. The market now expects rate cuts from June as Powell is waiting for more confidence inflation is heading back down to 2%.
It will be interesting to see over time whether 2% stays the target or whether the Fed changes it to a range.
Something that the Fed is strictly saying “No” to is a CBDC—for now!
According to Powell, the Fed is “nowhere near recommending – or let alone adopting – a central bank digital currency in any form.”
Powell also claims the Fed has no interest in spying on people as it’s not what they stand for in the US. Here comes the “but”…if they were to do it, it would be through the banking system so the Fed doesn’t hold individual accounts for all Americans. Good one, J Powell.
Whilst Powell reiterated that a CBDC would not be introduced unless Congress approves, let’s remind ourselves of what almost happened in 2020. Congress attempted to secretly pass the “Banking for All Act” which would have allowed a CBDC to exist. We’re already on the slippery slope.
Existing Projects / Tokens
- Arbitrum [ARB] has entered into a long-term collaboration with Robinhood in order to lower the barriers of entry for new crypto users using Robinhood’s Web3 wallet. Robinhood’s wallet will tap into Arbitrum for cross-chain swaps and possibly DeFi.
- Avalanche’s [AVAX] Durango Upgrade went live on mainnet on March 6th. Durango has introduced what’s known as “Teleporter”, which enhances communication and helps unify the network’s subnet ecosystem.
- Blast’s [BLUR] mainnet launch happened last week. The L2 reached $2.4B in total value locked within 4 days. Blast is a new Ethereum L2 that offers native yield on ETH and stablecoins.
- Grayscale’s Dynamic Income Fund is a new Grayscale investment vehicle that will allow investors to receive returns from a basket of proof-of-stake cryptos. Here’s the cryptos that Grayscale will include in the fund: Aptos (APT), Celestia (TIA), Coinbase Staked Ethereum (CBETH), Cosmos (ATOM), NEAR, Osmosis (OSMO), Polkadot (DOT), SEI, and Solana (SOL).
- METIS is set to have a big month. The protocol will have a decentralized sequencer launch, a “MarchDrop” incentive program launch, and it will benefit from Ethereum’s Dencun Upgrade. METIS is an ETH L2 scaling solution.
- Optimism [OP] recently released its Delta hardfork, which includes an upgrade called “Span Batches” that will reduce the costs of running a rollup on Optimism by over 90%.
Upcoming Projects / Tokens
- Entangle [NGL] is a new customizable messaging infrastructure protocol that works to help unify and optimize liquidity throughout the crypto ecosystem. The protocol’s native token – NGL – drops March 13th.
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NuLink Testnet
NuLink Network is a decentralized solution for web3 privacy-preserving applications to implement best practices, security and privacy. Zero-Knowledge Proofs are used to ensure that all functional nodes, including storage nodes, computing nodes, and proxy nodes, have publicly verifiable data processing and computing operations. NuLink offers data availability through privacy preserving data sharing and computing.
Recently rolling out it’s testnet, NuLink is offering NLK tokens to users that interact with their product. To get started just head over to the NuLink Testnet Dashboard and connect your wallet. Since NuLink is operating on the BNB Chain, you can use the BNB Testnet Faucet to get some free BNB Testnet tokens. Or simply click on the wallet icon in the top right corner of the NuLink Testnet. Here you can claim BNB testnet tokens and NLK Testnet tokens.
Once you have both, Access the Staking Dashboard and stake you NLK Testnet tokens. Once that’s finished you’re all done doing everything available in the NuLink testnet. However, there’s also the NuLink Quest’s option where you can participate in social media events happening around NuLink. This will also allow you to verify that you’ve completed all available testnet actions.
Which Is the Best NFT Blockchain?
The top NFT blockchains by NFT sales volume are Ethereum, Bitcoin, and Solana, and all have their own advantages.
Ethereum is the original NFT chain, with a huge range of collections and platforms, the Bitcoin Ordinals space is experimental, expanding, and currently generating a lot of hype, and Solana is fast, cheap, and an easy option for newcomers.
TO READ THE REST OF THIS ARTICLE, CLICK HERE – “Which Is the Best NFT Blockchain?”
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