Welcome back to the daily edition of Jplashkes.eth Substack newsletter. As you know, I usually share Twitter threads and integrate them into my Substack posts. However, I must inform you today that Twitter has imposed restrictions on interactions with posts that include links to the newsletter platform Substack. Nonetheless, I plan to provide you with visual photos and URLs that will allow you to stay engaged.
Just In-Apple put a hidden copy of the Bitcoin Whitepaper on every new Mac
Crypto News
If you use the latest Apple computer, you can access the revolutionary Bitcoin Whitepaper. This groundbreaking document has been discovered hidden deep within Apple's system files and is available exclusively on machines running MacOS Catalina or later. Disguised as "simpledoc.pdf," the file reveals Satoshi Nakamoto's visionary concept of decentralized currency in all its nine pages.
Earlier this week, the iconic blue bird logo of Twitter was momentarily substituted with the Shiba Inu dog, the mascot of the popular meme coin Dogecoin. This led to an incredible $4 billion surge in the coin's market capitalization. Although Twitter refrained from commenting on the temporary home button modification, Elon Musk responded to an earlier request by a Twitter user, urging him to replace the bird with a dog. Musk tweeted back, "As promised."
Earlier today, we received economic data despite the market being closed. March saw job growth of 236k, a positive sign indicating a softening of the economy without it crashing to the ground due to Powell's intervention. This, coupled with improving inflation numbers, implies that Powell does not need to raise rates. These developments are promising, and we eagerly anticipate the next FOMC meeting.
Bitcoin
Many people believe Bitcoin will follow a similar trajectory to its last cycle, where it will soon be at 40-50k before retracing and then breaking through the all-time high closer to the next halving event. The best-case scenario would be a slow climb toward the end of the year. It's encouraging to see more and more people investing in Bitcoin for the long term, including Anthony Scaramucci, who predicts a $1M price tag by 2030. He's not alone, as numerous people in the field hold the same view.
This time, the difference is that countries and institutions are embracing Bitcoin instead of previous cycles where retail FOMO drove the market. Bank of America and Fidelity purchased $75M worth of Microstrategy in Q1, clearly indicating their interest in more exposure to Bitcoin. One of the best ways to invest in Bitcoin without directly buying it is Microstrategy stock, which holds a whopping 140,000 BTC.
The bigger picture shows that institutions are increasingly getting involved, with large asset managers like Blackrock openly stating their investment in Bitcoin and launching more Bitcoin-related funds. Only 21 million BTC will ever exist, and many Bitcoins have already been lost or are being held by people. All these factors combined make it likely that Bitcoin's price will hit $1M someday, and it's not a matter of "if" but "when." Not Financial Advice (NFA)
Everything is proceeding as planned for Bitcoin. The timing of rallies and peaks also appears to be similar across cycles. Based on historical patterns, Bitcoin is on the cusp of its next upward trend, which could begin within the next month. The having cycle, which has played a significant role in Bitcoin's growth, is still in effect, and we are moving away from the bottom and towards a positive trend. Bitcoin's block reward has decreased over time, with 50 BTC per block in 2009, 25 in 2012, 12.5 in 2016, 6.25 in 2020, and 3.12 expected next year. As the supply of Bitcoin decreases, its value should increase based on the principles of supply and demand. The code governing Bitcoin cannot be altered, and unlike fiat currency, it cannot be artificially inflated by a central authority.
Please excuse me if I sounded a bit like a Bitcoin maximalist today, but I strongly believe in the potential of BTC in the years to come.
I hope you're all enjoying my crypto and digital asset newsletter! I'm eager to hear your thoughts on any subjects you'd like me to dive into over the next few weeks. Feel free to share your ideas with me!
Not Financial Advice
Please note that all opinions in my newsletter are strictly my own and should not be considered financial advice. It is important to conduct your own research and make your own investment decisions. Always consult a qualified financial advisor before making any investment decisions.