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- 🏈 Jack & Jay Z
🏈 Jack & Jay Z
Plus, Bitcoin blasts through a key milestone.
Sebastian Soran
February 12, 2024
Happy Monday, Zingernation! There were no flashy crypto ads during the Super Bowl this year, just Twitter co-founder and Block CEO Jack Dorsey, spotted in the stands in a ‘Satoshi' sweatshirt, in the company of music royalty, Jay Z and Beyoncé.
This comes as Kraken, regarded as the second-largest U.S. exchange, deliberately sidesteped this year’s American football championship. Here's what Chief Marketing Officer Mayur Gupta said about skipping the big game.
Today, Bitcoin blasts through a key milestone and long-term Bitcoin demand flows for 2024 will be in the $40 billion to $130 billion range, according to this analyst.
Also, today’s partner is on a mission to empower everyone to build wealth through modern real estate investing. Check ‘em out.
MARKET SNAPSHOT
TOP STORY
Briefly: Bitcoin experienced a notable surge on Monday, briefly touching the $50,300 mark, buoyed by a week of strong exchange-traded fund (ETF) inflows and signs of increased institutional investment.
But, Why? This upward momentum is attributed to significant inflows into spot Bitcoin ETFs, which garnered over $1.1 billion in net fresh funds last week, contrasting with the slowing outflows from established funds like the Grayscale Bitcoin Trust GBTC and ProShares' futures-based ETF, according to asset management firm CoinShares.
Zoom Out: The market faces potential headwinds from Genesis, a crypto lender under bankruptcy protection that is liquidating its $1.6 billion GBTC holdings. This move could impact ETF net inflows and Bitcoin prices in the coming months.
A MESSAGE FROM ARRIVED HOMES
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FIVE ZINGERS
New Projections: Macro guru Raoul Pal on Monday projected that Bitcoin BTC/USD could soar to as high as $250,000, Ethereum ETH/USD could reach between $15,000 and $20,000, and Solana SOL/USD might climb to between $750 and $1,000 within the next 18 months.
Different This Time: The upcoming Bitcoin BTC/USD halving event is "actually different" from previous ones, according to Grayscale Investments, the world's largest crypto asset manager.
Flows on Flows: Long-term Bitcoin demand flows for 2024 will be in the $40 billion to $130 billion range, according to this analyst.
MemeSZN: A pseudonymous cryptocurrency analyst on Sunday predicted that when meme cryptocurrency Dogecoin DOGE/USD pumps it will set the scene for meme season.
Eddy Boy: While fans around the world were glued to the spectacle of Super Bowl LVIII on Sunday, Edward Snowden, the former National Security Agency contractor, was focused elsewhere.
ONE FOR THE ROAD
What's Happening: Shares of several Bitcoin BTC/USD mining stocks including Marathon Digital Holdings Inc MARA, Riot Platforms Inc RIOT, and CleanSpark Inc CLSK are trading higher Monday amid strength in the price of Bitcoin. Earnings optimism could also be helping drive mining stocks higher.
What to Know: Bitcoin miners and other crypto-related stocks are getting a lift Monday as the price of Bitcoin continues to trend higher, driving strength in the broader crypto space.
Zoom Out: Bitcoin mining stocks may also be seeing increased buying attention after CleanSpark shares soared after the company reported fiscal first-quarter earnings at the end of last week.
Click here to keep reading
A MESSAGE FROM ARRIVED HOMES
Arrived's mission is to empower everyone to build wealth through modern real estate investing. They’ve created an investor experience simplifying the complex decision-making traditionally associated with real estate — and lowered the barriers to entry — so anyone can do it.
With Arrived, investors can browse individual single-family residential homes and vacation rentals (pre-vetted based on their appreciation and income potential), choose how much to invest, and start building a highly-tailored portfolio of hand-selected investment properties in minutes.
Click here to learn more and get started