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| | | Good afternoon. It’s official! The Federal Reserve has cut interest rates by 50 bps, marking its first rate cut in over four years. | U.S. indexes, bitcoin, and gold all climbed on the news, but are now lower than they were this morning. | As always, don’t read too much into the hot takes circling. We assure you, the real market reactions will come very soon. | Today’s Stories: 🧑🚀 MSTR gets more aggressive 🇧🇹 Bhutan’s surprising BTC moat | Today's edition is brought to you by The Crypto Hedge Report. Please support our sponsors as they help us keep the newsletter free. | Today's newsletter is 841 words, a 4-minute good read. |
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| MicroStrategy buys another 11,800 BTC | Michael Saylor’s MicroStrategy (MSTR) just made it’s largest Bitcoin acquisition in more than three years. | According to its latest SEC filing, the company purchased 18,300 BTC for ~$1.11 billion between Aug. 6 and Sept. 12. | | | What else? On Tuesday, the company announced plans to sell up to another $805 million in convertible senior notes to finance additional Bitcoin purchases and repay existing debt. | Microstrategy’s shares have more than doubled this year, outperforming the ~40% increase in both BTC and Coinbase (COIN). | | | PARTNER | The Crypto Hedge Report: Digital Assets Demystified | | The Crypto Hedge Report is a digest version of Mark E. Jeftovic's Bitcoin Capitalist Letter. | If you don’t know Mark by name, then you have definitely seen his takes in the financial news spectrum, from Bloomberg to Zerohedge. | Close to 1,000 HNW individuals, business owners, family offices, financial planners, and hedge fund managers subscribe to Mark's monthly reports on Bitcoin, crypto, and the intersection of network technologies and global finance. | Now you can access the high signal, boiled-down version via The Crypto Hedge Report. | Sign up today and receive a 21% discount, only for Coinsnacks Readers. | | Bhutan Has Quietly Acquired Over $750 Million In BTC | The Himalayan kingdom of Bhutan has quietly accumulated ~13,000 BTC, worth approximately $780 million, according to a report by Arkham Intelligence. The company had recently identified Bhutan’s Bitcoin addresses, marking the first time this information has been publicly shared. | Why it matters: Bhutan now ranks among the top five countries holding the most Bitcoin, edging out El Salvador, which gained fame as the first nation to adopt Bitcoin as legal tender. | By the numbers: (according to BitcoinTreasuries.org) | United States – 207,189 BTC China – 194,000 BTC United Kingdom – 61,000 BTC Ukraine – 46,351 BTC Bhutan – 13,029 BTC 🔼 El Salvador – 5,748 BTC
| The difference: Unlike other governments, Bhutan's Bitcoin stash comes not from asset seizures but from its own mining operations. "Bhutan’s bitcoin does not come from law enforcement asset seizures, but from bitcoin mining operations, which have ramped up dramatically since early 2023," Arkham analysts posted on X. | | Arkham @ArkhamIntel | |
| BREAKING: BHUTAN GOVERNMENT’S $750M BTC NOW ON ARKHAM Bhutan’s Bitcoin holdings are now labeled on Arkham. These holdings come from Bitcoin mining operations carried out by the Kingdom of Bhutan’s investment arm, Druk Holdings. Arkham is the first to publicly identify these… x.com/i/web/status/1… | |
| | 4:09 PM • Sep 16, 2024 | | |
| 22.2K Likes 6.87K Retweets | 1.03K Replies |
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| | PARTNER | Life in America May Not Be the Same | $34 Trillion of debt, 20% dollar devaluation since 2020, $1 TRILLION spent every 100 days. If you thought things were already bad in the U.S., Dr. Martin Weiss reveals how the next crisis could lead to unprecedented government control and financial surveillance. But there's still time to act. | Discover Dr. Weiss’s 3 critical steps to safeguard your future before those sweeping changes hit. | | Other Content You Might Enjoy | A Contrarian Bet on Ethereum (Matt Hougan) Trump family debuts new crypto business (Farokh) Dragonfly wants to raise $500 million for its fourth fund (Bloomberg) Coinbase introduces wrapped bitcoin competitor ‘cbBTC’ (Blockworks) Coinbase's Base L2 shatters records with over 4.5 million transactions in a single day (The Block) A publicly-traded holding company is all-in on Solana (Blockworks)
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| zerohedge @zerohedge | |
| The economy is so great, it needs an crisis-level rate cut 2 months before the election | | 6:01 PM • Sep 18, 2024 | | |
| 2.36K Likes 536 Retweets | 75 Replies |
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| | About CoinSnacks | Launched in December 2017, CoinSnacks is home to the longest continuously running crypto newsletter. Each week, we publish our cryptoasset musings to an audience of 35k+ crypto enthusiasts and investors. | In a space flooded with new projects, research, and narratives, you may feel overwhelmed or confused. CoinSnacks offers a solution by doing the digging for you, so you don't have to spend hundreds of hours sifting through the noise. Learn more here » | | Reach Our Audience | If you’re a brand interested in partnering with CoinSnacks to find your next customers, partners, or allies, we’d love to hear from you. Learn more here. | |
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