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Today’s edition is brought to you by Masterworks - Invest in blue-chip art today! |
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GM. This is Milk Road, the PEMDAS of crypto. We’re the equation that helps you remember all this shit. |
Here’s what we got for you today: |
2 things Bitcoin could learn from Ethereum 🥸 Unpopular crypto opinions 🐦 Bitcoin price prediction 👀 Robert F. Kennedy holds $100K+ in BTC 🍪
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| Prices as of 8:30 AM ET. |
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BITCOIN NEEDS ORDINALS & ROLLUPS - VITALIK 🥸 |
Bitcoin & Ethereum are the yin and yang of blockchains. |
One’s the OG, no frills, payments-focused network. The other is home to thousands of decentralized apps & NFTs. |
Well, the founder of one just weighed in on the other… |
That’s right folks, Vitalik Buterin (Ethereum co-founder) shared his thoughts on where Bitcoin is right now in a Twitter Spaces: |
1/ Bitcoin Ordinals are good and reignited a “builder culture” |
Ordinals have been a game-changer for Bitcoin. |
It brought NFTs to the OG blockchain and gave developers a new “toy” to play around with. |
As a result, we’ve seen ~16.4M Ordinals inscriptions. And in Q2: |
Bitcoin NFTs saw $210.7M in trading volume (a 2,834% increase from Q1) While Ethereum NFT trading volume dropped 38%
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There’s also been a ton of popular projects (like Bored Apes) that dropped new collections on Bitcoin. |
Images, videos, text, and even video games have all been inscribed on the Bitcoin blockchain. |
All are use cases Bitcoin has never seen before… |
…and that OG Bitcoiners are not fond of. (Here’s a live look at Bitcoin maxis over the last few months:) |
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But even though Bitcoin-maxis aren’t fully onboard, Vitalik believes Ordinals are good for the future of Bitcoin. |
2/ Bitcoin should try scaling solutions, like Ethereum. |
Bitcoin’s Achilles’ heel is its slow speed. But you could unclog it if you tack on “toll roads” that help push traffic through more easily. |
That’s what ZK rollups do. |
Optimism & Arbitrum are 2 successful ones that have made Ethereum speedier. (The former has processed 100M+ transactions.) |
Vitalik pulled an Ahem, Bitcoin, you should be open to them. |
Milk Road Take: We love Vitalik (AKA V-God), but we disagree with him here... |
Comparing Bitcoin to Ethereum is like comparing milk to juice. |
They have different use cases. |
One is built as an alternative currency. The other is built for decentralized apps. |
And that’s okay. That’s why here at Milk Road we believe the future is multichain. |
(But either way, Vitalik had some bars for the Bitcoin Boys. And we’re adding “lack of builder culture” and “you can’t scale” to our list of disses.) |
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While the ultra-rich have been banking off this under-the-radar asset for centuries, a group of everyday investors just used it to rake in a whopping 325% annualized gain. |
Sounds nuts? It definitely is. But it's also 100% true. |
The asset was a sculpture offered by the fractional art investment platform Masterworks. After just 36 days, investors were able to profit for a 15.4% net gain, a triple-digit return on an annualized basis. |
While it’s not common for Masterworks to get a profitable exit that fast, every one of Masterworks’ 13 exits has returned a profit to investors, netting proceeds from more than $45 million in sales. |
Every offering is limited, and shares can sell out fast, but Milk Road readers can use this exclusive link to skip the waitlist. |
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See important disclosures at masterworks.com/cd |
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ALL THE BEST UNPOPULAR CRYPTO OPINIONS 🐦 |
Everyone has an “unpopular” opinion… |
Pineapples should go on pizzas. Ice cream is a healthy breakfast choice. Socks & sandals are the epitome of fashion. |
Well, recently everyone on Twitter has been giving their unpopular crypto opinions. |
| Jason Choi @mrjasonchoi | |
| What’s your unpopular crypto opinion? | | | Jul 8, 2023 | | | | 318 Likes 16 Retweets 410 Replies |
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Everyone & their mother had something to chime in with. |
We rounded up the best answers here: |
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So we wanted to know… |
What are some of your unpopular crypto opinions? Respond to this email and we'll share some of the best ones later this week! |
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BITCOIN PRICE PREDICTION 👀 |
Crypto investors are all wondering one thing… |
What will Bitcoin’s price be at the end of 2023? |
Some people look at graphs for signs. Others look towards the stars. A few hope the answer comes in a fortune cookie. |
Well, we like to phone our friends - the Roaders. (AKA you.) |
We asked. You answered. |
Here are the results… drumroll... |
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72% think BTC will finish the year between $30K and $50K. 14% think BTC will finish the year <$30K. 14% think BTC will finish the year >$50K.
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Overall, the Roader Nation is bullish. |
We also asked about other stuff like what ETH’s price would be by EOY, investment strategies, how regulation would affect the markets, and more. |
And we’re releasing all the results (10+ pages) tomorrow to our Milk Road Pro subscribers! |
Wanna get in on the action? We’re offering a sweet deal: 50% off for the next 3 months (that’s just $10 a month to start.) |
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MILK & COOKIES 🍪 |
Robert F. Kennedy (pro-crypto presidential candidate) actually does hold Bitcoin, about $100K - $250K of it. He said in May that he wasn’t a BTC investor, but a spokesperson said he bought it after that comment. |
The team behind StepN (move-to-earn game) is launching a new crypto game called Gas Hero. It’s a multiplayer online game that’ll use StepN’s GMT as its token when it launches. |
Six Republican congresspeople want the SEC & DOJ to investigate Prometheum’s ties to China. The company became the first regulated crypto platform in June. |
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MILKY MEMES 🤣 |
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HIT THE INBOX OF 250K+ CRYPTO INVESTORS |
Advertise with Milk Road to get your brand in front of the Who's Who of crypto. The Roadies are high-income crypto investors who are always looking for their next interesting product or tool. Get in touch today. |
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What'd you think of today's edition? |
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ROADER REVIEW OF THE DAY |
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VITALIK PIC OF THE DAY |
| Milk Road Images @MilkRoadImages | |
| Happy Tuesday Roaders | | | Jul 11, 2023 | | | | 0 Likes 0 Retweets 0 Replies |
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. |