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- 🚗 Tesla BTC Scam
First time reading? I’m Jordan, and this is The Bitcoin Minimalist. Every Tuesday & Thursday, we scour 100s of sources to bring you need-to-know Bitcoin insights.
Today we’re covering:
Tesla scam promises doubled Bitcoin returns,
Bitcoin could hit $13M by 2045 according to Michael Saylor,
Bitcoin mining set to expand in Japan,
And everything else you need to know.
—Jordan
Check out the latest adds to Bitbo’s Bitcoin store!
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WHAT WE’RE WATCHING
🚨 The "Tesla 2x Bitcoin Scam" exploits Tesla and Elon Musk’s name to deceive victims. It tricks people into sending bitcoin by falsely promising doubled returns, leading to significant financial losses. Scammers use fake ads and social media platforms like X to spread the scheme.
📊 Bernstein predicts Bitcoin could reach $80-90k if Trump wins the 2024 election, or fall to $30-40k if Harris prevails. Analysts attribute this to Trump's pro-crypto stance, contrasted with Harris’ lack of public engagement on the issue. Trump currently leads Harris 52% to 47% on Polymarket.
💰 Michael Saylor predicts Bitcoin could reach $13 million by 2045, representing 7% of global capital. This would require a 23,000% increase from its current value of $57,000. MicroStrategy has seen an 825% return on its Bitcoin investments, outperforming major companies like NVIDIA.
🌱 Tepco’s subsidiary Agile Energy X is exploring Bitcoin mining using surplus renewable energy. By harnessing wasted solar power, the company aims to promote green energy and reduce energy curtailment. Simulations suggest that using 10% of Japan's wasted energy could generate $2.5 billion in Bitcoin annually, boosting corporate profits.
🇷🇺 Marathon Digital CEO Fred Thiel emphasizes Bitcoin’s growing role in national security. He noted that Russia mined over $3 billion in Bitcoin last year, raising concerns about digital assets being used to bypass sanctions and traditional financial systems.
📈 Bitcoin rose to $58,000 after dropping below $53,000 last week, a 5% gain in 24 hours. Despite the rebound, NYDIG’s Greg Cipolaro noted a lack of near-term positive catalysts. Bitcoin remains 20% lower since its March high and may rely on broader market factors for future growth.
🌈 The Bitcoin Power Law Rainbow chart combines the Bitcoin power law and the rainbow chart. It visually shows Bitcoin price projections over time, using color zones. These zones indicate whether the price is on track, ahead, or behind the power law's predicted price by up to 4.5 years.
IN THE LOOP
Kamala Harris's campaign was criticized for omitting Bitcoin from a policy statement that highlighted AI and semiconductors.
Bitcoin ETFs saw $28.6 million in inflows on Sept. 9, breaking an eight-day outflow streak.
Metaplanet bought an additional $2 million in bitcoin, raising its total holdings to $26 million.
Coinbase's market share fell to 41% as smaller exchanges gained ground.
Bitcoin spot ETFs have attracted over 1,000 institutional investors since debuting in January 2024.
Wealth advisers are adopting Bitcoin ETFs faster than any in history, says Bitwise's CIO.
The FBI reports a 45% increase in cryptocurrency fraud, with $5.6 billion lost, 71% of which came from investment scams.
Fold CEO Will Reeves discusses using bear markets and Bitcoin rewards to fuel Fold’s growth and prepare for a public listing.
POLL
Do you believe Bitcoin's role in national security, as suggested by Fred Thiel, is growing? |
THURSDAY’S POLL RESULTS
How do you think a 25 basis point Fed rate cut will affect Bitcoin in the short term?
⬆️ Increase - 56.8%
⬇️ Decrease - 8.1%
No Change - 35.1%
⬆️ Increase - “I feel like anytime debt gets cheaper money loosens and people take on more “risk assets”. I feel like things are super scary right now for the average person especially us middle classers and things are only gonna get worse unless we make different choices. I have faith in Bitcoin and invest small amounts every week. Thank you for your hard work and great info.” - Katie
⬇️ Decrease - “Major disappointment if the FED cuts rates only 1/4%” - Phillip
⬇️ Decrease - “Liquidity” - Joe
No Change - “25 beeps already priced into the market” - Chris
VIDEO
Living on Bitcoin in 🇸🇻 El Salvador!
A quick 1-minute video showcasing El Salvador’s real world adoption of Bitcoin.
CHARTS & DATA
Rainbow Power Law - Bitcoin’s price is currently in the purple zone of the power law rainbow. This means the Bitcoin price is more than 6 months behind the Bitcoin power law price projection.
Price Prediction - Bitcoin is currently below all 4 of Bitbo’s most popular Bitcoin price projection models.
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Halving Clock: Track the countdown to the Bitcoin halving with our Bitcoin halving clock.