@ Felipe

## 🧠Quote(s) of the week: 'It takes 40 years to mine the last Bitcoin. 40 fucking years. For one Bitcoin. None of us understand. [](https://image.nostr.build/b1d8ac6666e5026cec7beb1d49a5bd481cfb4c26120b0e2bad640c99f9321220.png) It means if you are a whole coiner your children or grandchildren (if they are smart) will inherit the equivalent of 40 years’ worth of energy used to secure the Bitcoin network. NO ONE is prepared for this.' -FractalEncrypt ## 🧡Bitcoin news🧡 On the 3rd of December: ➡️'Bitcoin is still just 0.2% of global asset value. Here is the latest update of this chart, which you may have seen in Saylor's presentations. With Bitcoin's price over $90k, it may feel like you're late to Bitcoin... but it is still a tiny bucket in the global asset ocean. As a ~$2T asset, it's incredibly early for Bitcoin.' - Jesse Myers [](https://image.nostr.build/8596fb7b714a030e006ce1aeb5ecb0eb3c900bc9e74645a5737f03b554bc56a6.jpg) Bitcoin is “0.2% right now, at 1% of the total global assets, Bitcoin's a $9 Trillion asset, and worth about $450,000, at 3% is worth $1.3 Million per BTC. One of the most crucial and easiest charts to understand. Oh and regarding the volatility, let me quote Joe Burnett: "Bitcoin is volatile because it’s a $450T asset trading for only $2T growing at a 70% CAGR. MSTR packages this volatility, sells it, and buys more Bitcoin. Do you see the reflexivity yet? ➡️'An estimated ~2.5 Million bitcoin ($240 billion) are lost forever. Don’t let your stack be next. Here are the 5 most common self-custody mistakes people make (and how to avoid them):' Great [thread ](https://x.com/River/status/1864005091058937889)by River: TLDR: Avoid these mistakes to keep your Bitcoin safe: 1. Practice restoring your wallet before sending funds to it. 2. Send test transactions before the full amount. 3. Air-gap your wallet for large amounts. 4. Keep inheritance plans simple & secure. 5. Manage your UTXOs smartly. Here are the 5 most common self-custody mistakes people make (and how to avoid them)' ➡️Canadian publicly traded company Bitcoin Well Inc. adoptsBitcoinas a treasury reserve asset and is raising $2 million to buy more BTC. ➡️BlackRock’s Bitcoin ETF surpasses the 500K Bitcoin benchmark, currently worth over $48 billion. ➡️Mashinsky to plead guilty in Celsius fraud case. ➡️Virgin Voyages announces it is the first cruise line to accept Bitcoin as payment. ➡️The US government has transferred nearly 20K $BTC valued at $1.92 billion. Meanwhile, Coinbase CEO Brian Armstrong agrees with US Space Force major Jason Lowery that the US gov't should NEVER sell its Bitcoin holdings, citing it as a strategic mistake that makes no sense at any price point. ➡️Total balance on exchanges drops to around 2.8M BTC, down from 3M in February. ➡️MARA's convertible note offering just upsized from $805 MILLION to $1 BILLION at 0% interest due to massive demand. ➡️Japanese House of Representatives member Taro Kono posts a picture of his friend mining Bitcoin with a Bitaxe. On the 4th of December: The impact of truth evolves as more people acknowledge it. Here’s another milestone: ➡️Russia's President Putin says, “For example, Bitcoin, who can prohibit it? Nobody. Who can prohibit the use of other electronic means of payment? Nobody. Because these are new technologies and no matter what happens to the dollar, these tools will develop one way or another because everyone will strive to reduce costs and increase reliability.” ➡️Donald Trump officially nominates pro-Bitcoin Paul Atkins as next SEC Chair. ➡️And on the same day, Jerome Powell calls Bitcoin a competitor of gold, not the dollar. '“It’s just like gold only it’s virtual. It’s digital. People are not using it as a form of payment or as a store of value. It’s highly volatile. It’s not a competitor for the dollar. It’s a competitor for gold.” Great [thread ](https://x.com/alphaazeta/status/1864356459162562917)on how Bitcoin will disrupt all markets. ➡️On that statement made by Powell: Powell: "Bitcoin is not a store of value. It's too volatile" Reality: Bitcoin is not only the best-performing asset in history (and certainly in 2024), it has a HIGHER Sharpe ratio (risk-adjusted return) than the S&P, Treasuries, and gold. - ZeroHedge ➡️'Missing just the 2 best 24-hour periods of Bitcoin returns each year since 2014 would've completely wiped out the 12,964% gains you’d have made by simply HODLing.' - Wicked This is why you shouldn't trade Bitcoin, just avoid trading. Just imagine you just had the balls to HODL aka. patience aka. low time preference. Full disclosure, in the past I had no balls. ➡️One of the largest bitcoin miners in the world launches a ‘Strategic Bitcoin Reserve’. Hut 8! ➡️Saylor presents a “Trump Max” plan for a U.S. Strategic Bitcoin Reserve, proposing the government acquire 4 million Bitcoin and convert 75% of surpluses into BTC. By 2045, this strategy projects a value of $81 trillion. ➡️Pete Rizzo: Someone just activated an 11-year-old wallet with 2,700 Bitcoin worth $254 MILLION. They HODL'ed from $600 to $96,000. On the 5th of December: ➡️There it is! The price of Bitcoin hit USD 100,000 for the first time! 100,000 infinitely printable US government tokens per glorious Nakamoto-grade orange coin. And a crucial and painful conclusion is that few traditional investors will have enjoyed it! Ps.: 80% of all dollars were created in the last 5 years. Daniel Batten: 'On the day Bitcoin broke 100K, Bitcoin critics cannot even say "but it boils the oceans" anymore without looking utterly ignorant, as a 6th sustainability magazine covers how Bitcoin helps green energy adoption and grid stabilization.' ➡️El Salvador is now $333 MILLION in profit on its Bitcoin investment. IMF in tears. Other countries go full retard. ➡️Central Bank of Chile has ruled out adding Bitcoin as a reserve asset, citing non-compliance with IMF standards for foreign reserves. 'The International Monetary Fund (IMF) has extended various financial arrangements to Chile over the years, primarily as precautionary measures to bolster the country’s economic resilience. These arrangements include the Flexible Credit Line (FCL) and the Short-term Liquidity Line (SLL).' -Fiatextractor In other words, Chile is not a sovereign country. It's like a fentanyl junkie in San Fran! That FIAT line of credit is just too good to give up. ➡️ The German government sold 50,000 Bitcoin at $55,000. Bitcoin is up 85% since then. Missed out on a cool $2.35 BILLION profit...Verdammt nochmal! ➡️Semler Scientific just bought another $29.3m Bitcoin. Since adopting a Bitcoin Treasury Strategy in May 2024 the Company has bought $147.1 million Bitcoin. MicroStrategy playbook! ➡️Bitcoin sets a NEW ALL-TIME HIGH against gold. It now takes 39 ounces to buy one Bitcoin. On the 6th of December: ➡️Czech Republic scraps capital gains tax on Bitcoin held +3 years! The Czech Republic has enacted a new law eliminating capital gains tax on Bitcoin held for more than three years and prohibiting banks from discriminating against Bitcoin businesses. ➡️El Salvador bonds rally as Bitcoin jumps past $100,000" — Bloomberg 'What this means is buying Bitcoin has been such a HUGE success that El Salvador is now able to refinance its debt at much lower interest rates, and can use the savings to buy even more Bitcoin!' -Bitcoin Archive ➡️The City of Newport rejects the offer of James Howells, who in 2013 lost a hard drive containing 8K Bitcoin ($~800M), now buried in a local landfill, equal to 25% of the funds recovered in a change of search permission for him and his data recovery team ➡️On the Schwab Network: "If you don't have at least 10% of your portfolio in Bitcoin or Bitcoin-related assets, you're going to fall significantly behind." ➡️$891 MILLION of leveraged crypto positions liquidated in just 24hrs. REKT!! ➡️Bloomberg terminal now shows the Bitcoin price as $0.1m instead of in thousands. [](https://image.nostr.build/bb7a7982b1a9ec046c06df51852f227cb0ecf4543374fd5862c5ffddbe66a613.jpg) ➡️'The US spot ETFs have just passed Satoshi in total Bitcoin held, now hold more than 1.1m, more than anyone in the world, and they're not even a year old yet, literally babies still. Mind-blowing.' -Eric Balchunas (foto) The time it took for Bitcoin to add a zero to its exchange price: On the 7th of December: ➡️U.S. Treasury says Bitcoin's primary use case is "digital gold". Meanwhile, Bernstein researched, Bitcoin to replace gold as the leading store of value within the next ten years - Bernstein research Dennis Porter: 'The U.S. Treasury just declared that Bitcoin is digital gold and yet some people still think $100,000 bitcoin is too expensive. We are going much higher.' [](https://image.nostr.build/facc3846094ee73bc8efbc88796163472c898c6530ac06f444b48ab27167b40a.jpg) If your goal is to accumulate as much gold as possible, well the best strategy is to be saving in Bitcoin. [](https://image.nostr.build/55c1020db2ceabdbd1fdaa9bb0748118a60b50d6f6169482a019b08f95e6f156.jpg) Bitcoin replacing gold is the logical base case. Replacing every de facto Medium of Saving is the logical base case. Gold is the first asset in the domino stack to experience what it feels like when Bitcoin starts to suck away its monetary premium, reducing its market value to its utility value. Replacing fiat is a much larger and more speculative leap. But it will come, in due course. ➡️'Bitcoin miners in the aggregate have seen a significant reduction in the total Bitcoin held in wallets linked to mining activities. On-chain analytics platform Santiment revealed a decline of 85,503 BTC over 48 hours, representing the largest drop since February 2024.' -Bitcoin News ➡️Holding Bitcoin has been profitable for over 99.8% of its history! ➡️'Bitcoin Cycles Timeline. I don't make the rules. 2016-2020 Halving to Peak: 525 days Peak to Bottom: 364 days Bottom to Halving 518 days 2020-2024 Halving to Peak: 532 days Peak to Bottom: 371 days Bottom to Halving: 532 Days The next halving date is March 26, 2028. Look how accurately the above timeline would put us at the halving... Will the pattern continue?' -Brett [](https://image.nostr.build/3858cf1b12486222d49c08cf72afd3d29486f6f6bb7bd25fdfdc70028322db87.jpg) On the 8th of October: ➡️Microsoft could make history in two days, on the 10th of December, as shareholders vote on whether to add Bitcoin to the balance sheet. A decision that could ripple across corporate America. ➡️Joe Burnett: 'Median new US home price in bitcoin 2012 - 50,616 BTC 2013 - 19,127 BTC 2014 - 351 BTC 2015 - 901 BTC 2016 - 697 BTC 2017 - 323 BTC 2018 - 24 BTC 2019 - 84 BTC 2020 - 46 BTC 2021 - 10 BTC 2022 - 20 BTC 2023 - 14 BTC 2024 - 4.3 BTC' Great anecdote by someone called BTCbeardman on Twitter: 'I bought my home in March 2023. The price was $495,000, which was 22.5 BTC. Today the value is $560,000, which is 5.6 BTC. In a little less than 2 years my home value increased 13% in dollars. But it lost 75% of its value in Bitcoin. Real estate is COLLAPSING in front of us.' ➡️On this day, someone sent 1,000 BTC, today worth $100 million, around the world for a $10 fee. Now try that with Fiat or with Gold. That's the beauty of Bitcoin. ➡️'MicroStrategy has bought $17.5 billion Bitcoin this year, and $13b of that in the last just 6 weeks. Some thought the 2027 target of $18b was a fantasy, but he's about to smash that this week with another buy. How much will Saylor buy this week? Another $1b, $2b... $5b?' -Bitcoin Archive On the 9th of December: ➡️So far today: - MicroStrategy bought $2.1 BILLION Bitcoin. Freaking conviction by Saylor. Although, I don't like that MicroStrategy is holding more than 2% of all Bitcoin to ever exist. - UAE holding its first-ever Bitcoin conference. - Public company Riot is raising $500 million to buy Bitcoin. ➡️'Bitcoin has just closed its first daily AND weekly candle above $100k. Congrats to all the HODLers! Iran to embrace Bitcoin with regulatory framework instead of banning them, says Minister of Economic Affairs First Russia, then China...now Iran.' -Bitcoin Archive ➡️Publicly traded AI firm Genius Group buys an additional $2.2 million. ➡️Amazon shareholders have submitted a request for the $2.3 Trillion company to explore adding Bitcoin to its treasury. Amazon shareholders request that the Board conduct an assessment to determine if adding Bitcoin to the Company's treasury is in the best long-term interests of shareholders. foto) [](https://image.nostr.build/2b53b0e65859dc5f5804ef588bc5421627604bf0701006da1c468adff5323506.jpg) ➡️IMF tells El Salvador that Bitcoin acceptance by businesses must be voluntary to unlock a $1.3b loan. They're scared of success... ## 💸Traditional Finance / Macro: On the 2nd of December: 👉🏽'This is the strongest stock market in decades: The S&P 500 is up 26.5% this year and on track for its best annual performance in 26 years. If the S&P 500 rises another 3.5%, it would mark the first annual gain of 30% or more since 1997. Additionally, the S&P 500 has hit 53 all-time highs year-to-date, the 3rd highest this century. This is only below the 70 and 62 all-time highs seen in 2021 and 2017. Since the October 2023 low, the S&P 500 is now up an incredible 47%.' TKL As mentioned in the previous Weekly Recap the Mag 7 is unprecedented. The rest of the SP500 and economy are just bloated on printed money barely outpacing inflation. Oh, by the way, the last time U.S. stocks were this overvalued versus the rest of the world was... well, never. [](https://image.nostr.build/abe39a7645b61beb7ff85cee04e0d04368d22dae5bc73b8774b2b008a6e9b116.png) 👉🏽'Buffett’s cash allocation is at 30% of Berkshire Hathaway’s total assets Such an elevated cash position has NEVER been seen. His cash pile has just hit a RECORD of $325 billion. Warren Buffett's cash pile just hit another ATH, reaching $325 billion That’s $325 billion sitting on the sidelines at Berkshire Hathaway. Well, the last time Buffett maintained elevated cash levels was between 2004 - 2007 During these 3 years, his cash allocation consistently exceeded 20%.' -Bravos Research This could get ugly… 🏦Banks:  👉🏽 No news ## 🌎Macro/Geopolitics: On the 3rd of December: 👉🏽'The US government brings in about $5 trillion annually in revenue from taxes, fees, and tariffs. The US government is on pace to spend about $1.4 trillion for interest payments on the $36 trillion debt in 2025. That will be about 28% of all govt revenue going to interest payments.' - WallStreet Mav And that 28% is increasing almost exponentially due to all those short-term bonds rolling over from low to high rates… Again no gloom and doom, just facts. Total US debt is now up ~$13 TRILLION since 2020 and at a record $36 TRILLION. Another source: 'The US is projected to spend $3.8 billion PER DAY on interest expense in 2025. The US net interest payments on national debt hit a $1.12 trillion annual rate in Q3 2024, a new record. This is TWICE the amount seen in 2021, according to the Bureau of Economic Analysis data. As a result, interest as a % of government revenue hit 18%, the highest in 30+ years. Interest expense now exceeds government spending on R&D, infrastructure, and education COMBINED.' -TKL 👉🏽South Korean parliament votes 190-0 to lift President Yoon's martial law declaration. According to Odaily, the South Korean government has pledged to provide UNLIMITED LIQUIDITY to the market if needed. And there it is: just need a little martial law for BRRRRR. 👉🏽[](https://image.nostr.build/e23d54d88e54605d368d77d3b552381361885a9c3792b029508fc9abfe53e34a.jpg) “If we exclude the tech sector, EU productivity growth over the past 20 years would be broadly at par with the US” - Draghi If we exclude the industry that makes loads of money and is integral to the world, and to our future, then the EU is on a par with the US. Sure just exclude the most productive sector in the last 20 years. Let’s see what we can regulate in the EU next. “If my grandmother had wheels, she would have been a bike”. "If you exclude athletic ability and technical skills, I am broadly at par with Ronaldo (R9)." Oh well, you get the picture! 'Anyway, the US to European equity valuations have risen to 3.6x in November, a record. This ratio has DOUBLED in 8 years. To put this into perspective, the long-term average is 3 TIMES lower, at ~1.2x. This comes as the US stock market has outperformed Europe in 12 out of the last 15 years. This year alone, the US has returned ~21% more than Europe, the largest difference since 1976. US stocks are dominating the market.' A sobering EU thread, worth your time and read: https://x.com/0x_ale/status/1864731334327066683 👉🏽IMF Fiscal Monitor: Fiscal consolidation measures reduce output and household consumption; cuts in public investment are particularly detrimental. "If taxes are progressive, raising them leads to smaller output losses." Source: https://www.imf.org/en/Publications/FM/Issues/2024/10/23/fiscal-monitor-october-2024 👉🏽Mark Zuckerberg's Meta joins Amazon and Google to back nuclear energy to power AI data centers - Axios On the 4th of December: 👉🏽France's government collapses after losing a no-confidence vote in parliament. Macron just landed from a trip to Saudi Arabia without a government. Putaaaaiiinnn. To put things into perspective! France's creditworthiness is now comparable to Greece's rather than being on the same level as Germany. 👉🏽October payrolls revised from 233K to 184K, the biggest negative revision since May 2023. As a feature, downward revisions. Classic. Just a casual 20% negative adjustment. 'The Household survey showed significant weakness, with the number of employed people falling by -355,000 in November. Meanwhile, the US lost -111,000 full-time jobs and -268,000 part-time jobs. There are now 1.7 million people in long-term unemployment, up from 1.2 million last year. All while the US government added +33,000 jobs last month ALONE. Something doesn't add up here.' -TKL 👉🏽The normally fiscally conservative Germans want more debt to deal with an ailing economy. German Bank president Joachim Nagel urges Berlin to relax rules to address defense and infrastructure shortfalls. "If you put major increases in tariffs on top of current forecasts, the economy might broadly stagnate for even longer". How to tides have changed, innit? 'Flashback to the Eurozone crisis of 2011-2012, when Germany's finance minister Schäuble demanded austerity in Southern Europe, claiming that "too high deficits and debt levels" had caused the crisis: "You can't cure an alcoholic by giving him alcohol." The discourse was out of control.'- Phillip Heimberger [](https://image.nostr.build/b3a66690167c9fd5d1966c1c72e2232e9b6ad3ffaa93e374739e66fe54992aaa.jpg) 👉🏽Last week I mentioned how the EU bit by bit is rolling out their digital agenda. Dr. Jan Wústenfeld: The EU proposal to scan all your WhatsApp chats is back on the agenda. The transparent citizen. Meanwhile, the ECB says the digital euro will set the privacy "gold standard". Something does not add up. Watch what they do, not what they say." Full Disclosure: "On December 6, 2024, the European Pirate Party reported that the European Council Committee stopped the proposal (yet again) as more governments joined the list of countries against it." Source: https://www.techradar.com/computing/cyber-security/the-eu-proposal-to-scan-all-your-whatsapp-chats-is-back-on-the-agenda On the 6th of December: 👉🏽Germany's industrial downturn shows no signs of easing. Industrial production dropped by 1% in October MoM, starting the final quarter w/an unexpected decline & raising concerns about a potential winter recession. Compared to last year, industrial production was down ~5%. Industrial production in Germany - now more than 17% *lower* than at the end of 2017. 👉🏽'Total world debt officially hit a record $323 trillion in Q3 2024. Over the last 3 quarters, global debt has skyrocketed by $12 TRILLION, according to the Institute of International Finance (IIF). In just two decades, global debt has TRIPLED. Moreover, global debt-to-GDP now stands at 326% and remains above pre-pandemic levels. Furthermore, debt in emerging markets reached a near-record $105 trillion, or 245% of GDP. Debt is skyrocketing around the globe.' -TKL [](https://image.nostr.build/b3a8ae298f77148f6d9eaccbea67cd3ec073368c907558c3585b41c4e491437f.jpg) Now imagine the burden of interest expenses, imagine that the entire world is based on borrowed money (future generations' time & productivity).... 323 trillion and rising vs. 21 million BTC (max.). 👉🏽President Nayib Bukele revealed that El Salvador has discovered up to $3 TRILLION in unmined gold, and he is now moving quickly to repeal the mining ban regulation so that miners can get to work. "We've also found gallium, tantalum, tin, and many other materials needed for the 4th and 5th industrial revolution." -Bukele And this is why Bitcoin is going to outcompete gold. We'll never find a hidden stash of 3 trillion dollars of Bitcoin that no one knew about. 👉🏽'As long as Asia builds almost 1.000 new coal power plants, it doesn’t really matter what we in the West do to fight climate change Even if we moved the UK, Germany or Spain back to the Middle Ages as left green degrowth freaks dream of, it would have barely any impact on climate.' -Michael A. Arouet [](https://image.nostr.build/3bece99948f4bf6927000e5a450db11a9d7888b4b1f82e722d06e07e38a5e849.jpg) Now don't get me wrong. The problem isn't China. The thing is, in Germany (Europe, the West) we believe that we alone can save the climate no matter what the rest of the world is doing. Next to that, 'We're not only fighting climate change in the West... we're also lighting candles, planting trees, drinking vegan bio milk extracted by hand from virgin cows, and singing kumbayah around the campfire.' - Triangleforces. And even that isn't the real problem. The real problem is the absolute increase of Chinese CO2 between 2022 and 2023 is larger than the total that Germany has. For example, the elimination of Germany from the planet would equal Chinese growth of one year. But who manufactures for the rest then if we close all the coal plants in China? The EU and the US together consume almost half of the world’s resources, while only making up 10% of the world’s population. The ecological crisis goes way beyond emissions. We have a spending and a consumerism problem. ## 🎁If you have made it this far I would like to give you a little gift: What Bitcoin Did is back! $100K BITCOIN, MICROSTRATEGY AND THE BULL MARKET with Checkmate. Checkmate is an on-chain analyst and founder of Checkonchain. In this interview, they discuss the relaunch of 'What Bitcoin Did,' Bitcoin breaking 100K and the growth in institutional demand.We also get into the the Strategic Bitcoin Reserve, the impact of options on Bitcoin's market dynamics, and the MicroStrategy playbook as a volatility product. https://www.youtube.com/watch?v=Wvf6NV23rqw Credit: I have used multiple sources! My savings account: Bitcoin The tool I recommend for setting up a Bitcoin savings plan: PocketBitcoin especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Use the code BITCOINFRIDAY Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.⠀⠀⠀⠀⠀ ⠀⠀⠀ Do you think this post is helpful to you? If so, please share it and support my work with sats. ▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃ ⭐ Many thanks⭐ Felipe -Bitcoin Friday! ▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃