@ Felipe

🧠Quote(s) of the week:

“Civilizations die from suicide, not by murder,” according to 20th-century historian Arnold Toynbee.

He claimed every great culture collapses internally due to a divergence in values between the ruling class and the common people…

"Constant inflation is a human rights issue. It basically prevents people from building up liquid capital reliably. It either forces them to monetize illiquid things like real estate or just keeps rug-pulling them year after year and they're never able to build any serious capital and better themselves."
-Lyn Alden.

🧡Bitcoin news🧡

On the 15th of September:

➡️More than a week a week ago rumors circulated that Coinbase is writing Bitcoin IOUs for BlackRock and they are suppressing the price. Now fast forward to today.

➡️Power bills increased by $300 per year for each home in a Norwegian town after the local Bitcoin miner shut down.

The miner paid 20% of the area's grid fees, thus subsidizing other consumers. With the miner gone, people's power bills are skyrocketing.

Aledander Ellefsen: "Politicians fall into the cobra effect trap once again: "The mayor cheered the shutdown of the controversial Bitcoin mining data center, but now residents are facing an unexpected consequence: a hefty bill increase."

Locals will now have to pay an extra $200-$300 per year due to increased costs to grid fees without the big mining customer, and the mayor of this remote municipality comments: "We work continuously to facilitate the industrial activity we want in the municipality. It may not be something we can solve in just one month, but we are dedicated to promoting business development every single day." (This is political jargon, for it will likely never happen.) The "celebration" ended the moment they got their first bill - You can't make this shit up

"Some people do not understand that Bitcoin miners lower the cost of electricity by spreading the grid's fixed costs over a larger rate base." - Pierre Rochard.

A fun fact about the Norway example is that in Norway and will quote Alexander Ellefsen again: "About 97% of our electricity production comes from renewable energy sources, with the majority generated by hydropower. In the northern regions, we have hydropower dams where excess water is released due to low electricity demand outside peak hours. It’s perplexing to see how some politicians continue to overlook Bitcoin mining as a potential solution. By utilizing this surplus renewable energy, we could support the Bitcoin network while ensuring better energy efficiency and reducing waste."

➡️ETHBTC just traded on a 0.03 handle for the first time in 3.5 years (Apr 2021) -53% since the merge in Sep 2022.

Daily reminder that all shitcoins are trending towards zero compared to Bitcoin, including Ethereum. Remember when all the altcoin fanboys were talking about the flippening?

➡️Microstrategy has 244,800 BTC. In 2025 when 1 BTC goes to $1M their holding will be worth $244.8B.

➡️Duo9BTC: "Coinbase CEO just admitted that you got to trust them on their word. They will not provide any proof of reserves for the BTC they claim they have, nor any proof of backing for their new paper BTC called cbBTC. If they print too much paper BTC they will go the FTX route."

Once again...never leave your coins on an exchange. Period!

Rumors are circulating that Coinbase is writing Bitcoin IOUs for BlackRock and they are suppressing price.

Imagine a hacker gains access to Coinbase’s 2 million+ Bitcoin in custody, sends it all to a time-locked address, 100 years into the future, and shares the private keys publicly.

➡️Bitcoin (+43%) and Gold (+25%) are the top-performing major assets in 2024. We've never seen these two in the #1/#2 spots for any calendar year.

On the 16th of September:

➡️President Bukele announces that El Salvador will no longer borrow external debt to finance its budget. Bitcoin country is winning.

➡️MicroStrategy announces plans to raise another $700M and buy more Bitcoin with proceeds.

MicroStrategy increased its capital raising by an extra +$175m. It will now raise $875 million to buy more Bitcoin and potentially raise another $135m within two weeks. Eventually, MicroStrategy sold $1.01 billion worth of convertible notes to buy more Bitcoin.

'Michael Saylor found the infinite money glitch: • Convert cash to Bitcoin • MSTR goes up • Take out more debt • MSTR goes up • Sell personal holdings • MSTR goes up • Issue more stock • MSTR goes up • Join the S&P 500 • MSTR goes up' - TheBTCTherapist

I will quote Dylan Leclair on this one: 'Rather than purchasing physical infrastructure & energy to generate computational hashes, the world's most efficient Bitcoin miner is short-selling dollars & leveraging common stock volatility.'

MicroStrategy now HODLs 252,200 Bitcoin worth +$16 BILLION. Average cost: $39,266 per bitcoin.

On the 17th of September:

➡️Bhutan and El Salvador now combined hold 18,900 BTC worth $1.1 billion. Thanks to its vast hydroelectric energy sources, Bhutan secretly started mining Bitcoin in 2020, now holding up to 13,029 BTC total. Game theory has started playing out and it will force every country to adopt it.

On the 18th September:

➡️BlackRock’s latest report on Bitcoin includes a striking comparison table, highlighting how Bitcoin, the S&P 500, and gold performed after major geopolitical events.

On top of that the world's largest asset manager sees bitcoin as a geopolitical hedge against the US debt crisis and dollar instability.

➡️The State of Louisiana becomes the first in the nation to accept Bitcoin via the Lightning network.

On the 19th of September:

➡️'Everyone who's been daily DCAing Bitcoin is once again in profit. Even those who first started DCAing at an all-time high 190 days ago.' -Wicked

➡️The first nuclear-powered Bitcoin mining facility in Pennsylvania, operated by Terrawulf Inc.

On the 20th of September:

➡️BNY Mellon, America’s biggest custodian bank, has received SEC approval for custody.

Source: https://unchainedcrypto.com/bank-of-new-york-mellon-identified-as-first-bank-to-receive-sec-exemption-from-sab-121/

They are the world’s largest custodian bank with $50T under custody. The game theory this will kick off is something we’re not ready for!

➡️Bitcoin to hit $200,000 no matter who wins 2024 US Election - Standard Chartered, Head of Digital Assets

➡️SEC approves options for BlackRock's spot Bitcoin ETF.

Joe Consorti: "With the introduction of options on bitcoin ETFs, sophisticated investors can now generate yield on BTC. Get ready for a huge influx of liquidity from big players looking to sell covered calls, drawing bigger players into the game, more liquidity, and on and on."

💸Traditional Finance / Macro:

On the 17th of September:

👉🏽"Warren Buffett is hoarding more cash: Last week, Berkshire Hathaway reported that it sold $229 million of Bank of America stock over 3 trading days. Since mid-July, Buffett’s total sales of hit $7.2 billion or 174.7 million shares. As a result, total holdings fell to $33.7 billion or 858 million shares, the lowest level since 2018. Berkshire Hathaway's cash position surged by $88 billion in Q2 2024, reaching a record $277 billion. Warren Buffett continues to build his cash position." -TKL.

🏦Banks:

👉🏽No news

🌎Macro/Geopolitics:

On the 15th of September:

👉🏽The Saudis have joined other Asian countries in ditching their long-term sensitivity to the gold price. Evidence suggests the Saudi central bank has been covertly buying 160 tonnes of gold in Switzerland since early 2022, contributing to the current gold bull market.

On the 1st of September, I already shared the news that global net gold purchases by central banks reached 483 tonnes in the first half of 2024, the most on record. This is 5% higher than the previous record of 460 tonnes set in the first half of 2023. The East (China, India, Russia, Saudi, etc.) no longer trusts owning Western reserve assets. Even in the West, the trust in the bond market is crumbling.

You don't believe my word?

'Blue = Foreign Central Bank holdings of USTs. Red = Total US Federal Debt. Mind the gap (with QE, bank regulations, MMF regulations, pension tax benefits, enticing US retail to buy, etc.)'- Luke Gromen

👉🏽Meloni takes the first steps for Italy to build nuclear power plants.

The Ministry of Environment revealed today that new laws will be introduced later this year and that a decree on the matter will come in 2025 Italy voted no to nuclear power in a referendum in 1987, just a year after Chornobyl. Personally, I think this is a smart move.

👉🏽Jeroen Blokland: 'But, government bonds are a wonderful asset on someone's balance sheet.' Sure, as long as you do not ask who is genuinely willing to hold all that DEBT. The UK government budget is doomed!

👉🏽'The difference between the 2-year Treasury yield and the Fed interest rates dropped to -1.69%, the most in at least 35 years.

This gap is now even larger than in 2008 and 1989, a few months before the recession began. The 2-year Treasury yield is considered a leading indicator for the next Fed’s interest rate moves. In other words, the bond market expects that the Fed will be cutting rates at a rapid pace in the coming months. This has been driven by increasing evidence of the deteriorating labor market and many indicators suggesting this trend will continue.' -TKL.

Regarding the rate cute:

The similarities between 2007 and 2024 are wild!

Fed's First Rate Cut:

Sept 18, 2007

Sept 18, 2024 (high probability)

Unemployment Rate

Sept 2007: 4.7

Sept 2024: 4.2

US Inflation Rate YoY

Sept 2007: 2.5

Sept 2024: 2.5

US Housing Starts:

Sept 2007: 1.238

Sept 2024: 1.235

US Leading Economic Activity

Sept 2007: 100.4

Sept 2024: 100.4

US Existing Home Sales

Sept 2007: 4.5 Million

Sept 2024: 3.95 Million

(This post is not calling for a 2007 crash. I am simply pointing out the intriguing similarities in timing and economic indicators.)

You can find the charts here:

👉🏽Germany's lack of public investment is structural. Germany records one of the lowest net public investment ratios* in the EU over 1995-2023 (i.e. ~zero expansion in net public capital stock). Only Latvia and Slovakia do worse. Net investment: gross investment - minus depreciation

German „green“ policy:

1. 2023 25,6% of German electricity came from coal before the decision to close nuclear 31% came from nuclear
2. Deindustrialization drives production to Asia, where some products cause 30% more CO2 German Greens ruin both the economy and the environment.

German business model was based on: 1. Cheap energy from Russia 2. Cheap subcontractors in Eastern Europe 3. Steadily growing exports to China All three are gone by now. And we are in the good times, imagine what will happen during the next recession. Germany is Europe's engine.

On the 17th September:

👉🏽US debt now stands at $35.3 trillion. If we were to return to 0% interest and make payments of $1 million per hour, it would take approximately 4,023 years, or until the year 6,047, to bring the debt back down to zero.

The US government has added $5 trillion to Federal Debt in the last 2 years. With annual spending of $6.95 trillion and taxes of $4.91 trillion, the US government is currently overspending by $233 million per hour. Yikes.

👉🏽'Total consumer credit jumped by $25.5 billion in July and reached a new all-time high of $5.1 trillion.

This marked the largest jump since November 2022 and the 11th straight monthly increase.

Total consumer debt has DOUBLED in 14 years. Revolving debt, which includes credit cards, jumped by $10.6 billion and also hit a new record of $1.4 trillion. Non-revolving credit rose by $14.8 billion and is just $2 billion below the January peak of $3.73 trillion. Meanwhile, the share of credit card debt delinquencies soared to 9.1%, the highest level in 12 years. The debt mountain is collapsing.' TKL

On the 18th of September:

👉🏽Federal Reserve cuts interest rates by 50 basis points, first cut in over 4 years.

On the 20th of September:

👉🏽Gold new all-time high $2,620 as markets brace for fiat destruction. Gold prices are up a MASSIVE 28% in 2024 to a fresh record high of $2,660/oz. This puts Gold on track for its best annual return since 1979, all while the Fed is calling for a "soft landing."

👉🏽 Two weeks ago I already explained a bit about the Volkswagen & Germany situation. Now we received the news that Volkswagen is planning to lay off as many as 30.000 employees.

On the 21st of September:

👉🏽"Unrealized losses on investment securities for US banks reached $512.9 billion in Q2 2024.

This is 7 TIMES higher than at the peak of the 2008 Financial Crisis. Q2 2024 also marked the 11th consecutive quarter of unrealized losses as interest rates continued to pressure the economy. Bank of America, the second-largest lender in the US, now accounts for $110.8 billion of held-to-maturity securities with unrealized losses or 20% of the total. Meanwhile, the number of banks on the FDIC Problem Bank List increased to 66 in Q1 2024, or 1.5% of the aggregate.

Unrealized losses held by banks remain a major issue." -TKL

🎁If you have made it this far I would like to give you a little gift: Matthew Pines is the Director of Intelligence at SentinelOne and a National Security Fellow at the Bitcoin Policy Institute.

In this episode, they explore UAPs, simulation theory, remote viewing, and human consciousness. They discuss the potential implications of knowing that aliens are real and what this could mean for humanity - exploring the nature of reality and challenging our understanding of existence, as they discuss the intersection of advanced phenomena and human perception.

https://youtu.be/YN2Le9dp_Ww?si=6eydqVLxCZXLba_V

Credit: I have used multiple sources! My savings account: Bitcoin. The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. (Please only use it till the 31st of October - after that full KYC) Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.⠀⠀⠀⠀

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.⠀⠀⠀⠀⠀⠀⠀⠀

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