BITCOIN BOOM

MicroStrategy on S&P 500 Could Be Gateway for Bitcoin Exposure

S&P 500 Inclusion: MicroStrategy's potential listing in the S&P 500 index could significantly increase Bitcoin exposure in mainstream portfolios. The firm needs a market cap boost of $3.7 billion to meet eligibility criteria, including a minimum market cap of $15.8 billion and positive profits over the last four quarters.

Portfolio Impact: If included, MicroStrategy's Bitcoin holdings would infiltrate nearly every ETF portfolio, including traditional 401k and pension funds. The firm's weighting in the S&P 500 would be around 0.01%, translating to a $12 billion passive capital allocation.

Bitcoin Development Shift: MicroStrategy, holding 190,000 BTC, is transitioning from a business intelligence firm to a "Bitcoin development firm," according to founder Michael Saylor. This move underscores the company's commitment to Bitcoin and its potential impact on its market valuation and S&P 500 inclusion.

📉 Bitcoin holdings on Coinbase hit a 9-year low as whales withdraw $1B BTC. This has sparked speculation of a bullish supply shock ahead of the halving. Some believe the funds are moving to OTC trades or other custodians, while the upcoming halving and rising institutional demand may lead to a price surge.

📈 Fundstrat's Tom Lee predicts Bitcoin could hit $150,000 this year. This estimate is based on the hype driven by new ETFs, the halving, and expected monetary policy easing. Despite a recent stall in Bitcoin's rally, Lee remains optimistic, while other analysts suggest a potential cooling period before resuming the uptrend.

📈 Michael Saylor, MicroStrategy's Executive Chairman, is not selling his company's Bitcoin holdings. At the current price, his company is currently sitting on about $10 billion worth of Bitcoin. He views Bitcoin as superior to traditional asset classes like gold, real estate, and the S&P index. Saylor believes capital will continue to flow into Bitcoin, making it the "exit strategy."

🛡️ The "Bitcoin 6102 Attack" explores potential government seizure of Bitcoin from exchanges. This scenario is similar to the 1933 gold seizure by the US Gov. With rising national debt, this scenario could be seen as stabilizing. However, Bitcoin's digital nature allows for self-custody, providing protection against such actions.

🚀 Bitcoin call options for June's end-of-month expiry are clustering above $60,000. This indicates a bullish sentiment post-halving. Deribit data shows increased demand for call options, with a low put-call ratio suggesting expectations of a price rise. The upcoming April halving, reducing miner rewards, may further fuel bullish expectations.

📰 Report analyzes Salvadoran media's response to Bitcoin as legal tender. Analyzing 1,440 articles, it reveals a focus on price volatility and political polarization, overshadowing Bitcoin's potential benefits. The report calls for improved education and balanced coverage to foster a deeper understanding of Bitcoin's impact.

Do you think Bitcoin will hit an all-time high before the April halving?

👍 Yes - 77.8%

👎 No - 22.2%

👎 No - “It’s going to be around $58-62k and then roar past it after the halving” - Ben

👍 Yes - “All cycles look similar but are different this time just feels like a much stronger conviction and maturity within the asset class.” - Sam

👎 No - “Probably not before the halving but it should by mid June” - Chris

👍 Yes - “If inflows continue and OTC dries up.... Buckle up” - Alec

👍 Yes - “Lots of trigger points to higher Bitcoin prices like govt adoption, halving and scarcity of Bitcoin plus it’s a hedge on traditional finance. So positive outlook!” - Samson

💼 Coinbase's Q4 2023 earnings show promise for the upcoming year. Technology expenses are down, and net income is positive. Coinbase leads in Bitcoin and Ethereum trading. It also custodies eight Bitcoin ETFs, signaling growth.

🕺 Bitcoiner and breakdancing dad Ben Hart addressed accusations of being a 'deadbeat dad' after his daughter Madi's viral TikTok. He shared his side, highlighting his divorce and financial support for his family. The video featured gained attention from the Bitcoin community, including Elon Musk.

🚀 Bitcoin could challenge its record high of $69,000 before the April 19 halving, driven by historical pre-halving rallies and a bullish RSI indicator. Strong inflows into U.S.-based Bitcoin ETFs and a supportive macroeconomic environment further bolster the positive outlook.

📈 Ether hit $3,000 for the first time since April 2022, driven by speculation of a potential spot Ethereum ETF in the U.S. The broader crypto market is rallying, with Bitcoin also reaching a new yearly high. Analysts are divided on the likelihood of a spot Ethereum ETF approval by May.

🚀 BlackRock's new Bitcoin ETF ad presents BTC as "progress" rather than a currency. Advertisements like these aim to appeal to a traditional investment audience. This approach is part of BlackRock's strategy to attract a broader investor base, including wealthy boomers.

In an interview on 60 Minutes, Jerome Powell, the Chair of the Federal Reserve, said that with America’s current political-economic climate, the US is on an unsustainable fiscal path.

54 - The number of days left until the 2024 Bitcoin Halving. Bitcoin’s block reward will be cut in half from 6.25 to 3.125.

$70 billion - The current value of the bitcoins left to be mined. Despite the number of bitcoins left to be mined constantly shrinking, the fiat value has always gone up.

93.5% - The percentage of the 21 million bitcoins that have been mined. 95% of the bitcoins are estimated to be mined by March 2026.