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Health, Wealth, and Happiness

April 5, 2024

“Success isn’t always about greatness. It’s about consistency. Consistent hard work leads to success. Greatness will come.”


- Dwayne Johnson

Howdy, investors!


  • In our approach to crypto investing, three numbers matter the most. Today, we reveal the 3 Most Important Metrics for crypto investorsand where to find them.


  • Read on to find out why bitcoin may be how more people escape from the traditional financial system -- and why.


  • PayPal is rolling out a new service that will allow the conversion of its PYUSD stablecoin to USD, allowing transfers to “recipients in approximately 160 countries” without transaction fees.


Read on to explore more!


The 3 Numbers for Picking Great Crypto Investments

by Sir John Hargrave

Sir John Templeton (the other Sir John) is often referred to as the "greatest global stock picker of the century."


He built his fortune by swimming against the current and focusing on undervalued assets. He invested not in gut feeling but in using a mathematical approach to spot good bargains.



After World War II, Sir John famously invested in Japan when the country was in ruins. Imagine buying a building for a fraction of what it would cost to rebuild it. That idea allowed Sir John to find great Japanese companies that would eventually rise from the ashes and net him a fortune.


Templeton would have loved crypto because these undervalued crypto assets are everywhere today.


Why? Because very few investors think of cryptos as "companies" and their tokens as "stocks." This is a huge advantage for those of us who do. (See our Investing Approach.)


While the vast majority of crypto runs on FOMO and FUD, we are investing in more than just feelings. We invest in facts and fundamentals.


This gives us a huge investing advantage, especially during crypto bear markets (which always happen). While everyone else runs for the exit, we can buy great crypto companies at deep discounts, just as Sir John bought into Japan.


In today's guide, we'll share our 3 most important metrics for finding great crypto investments to hold for the long term.

Get the 3 numbers for picking great investments >>

Premium Power-Ups

Level up your crypto investing game.


BMJ Best Blockchain Buys

We round up our best investing ideas from the previous month for our paid subscribers each month. To save you time and effort, consider this your at-a-glance list of our best blockchain buys in one easy-to-read list.


April's edition recapped all our best bets in decentralized exchanges, proof-of-stake coins, and lowest-fee exchanges. We also share all our recent investor scorecard ratings in one easy-to-read list.


Finally, you can share the joy of our proprietary Blockchain Believers Portfolio, which reached new all-time highs in the first quarter of 2024. (You can also start investing in our portfolio yourself!)



Are you not yet a Premium member? Sign up today, and you won't miss out on any of the outstanding premium content. Plus, you'll get access to our BMJ token drops, merch, and much more!

Must Read

Today's most important stories for crypto investors.

Q1 2024 On-Chain (Into the Block)

The crypto market thrived in the first quarter of 2024. Spot Bitcoin ETF approvals boosted institutional investment and sent bitcoin prices soaring. Memecoins also saw a resurgence, with their total market cap tripling as lower fees on Solana and Ethereum's Layer-2 networks fueled a trading frenzy. Ethereum's Dencun upgrade was vital in reducing costs, leading to a surge in on-chain activity. Overall, the start of the year has rewarded long-term crypto investors for their patience.

Bitcoin, Cash Flows, and Value (Bitwise Investments)

This piece argues that Bitcoin has value because it offers a unique service: storing wealth without relying on central institutions. Bitcoin can be compared to disruptive innovations like cell phones: initially inferior but growing more indispensable over time. It is worth a read for all BTC investors.

US PayPal Customers can use Stablecoins for International Payments (The Block)

PayPal is expanding its PYUSD stablecoin use by allowing US customers to send international money transfers fee-free using PYUSD. They see this as a way to promote their stablecoin and establish themselves in the digital asset space. This news comes as the stablecoin market seems to be growing, with Ripple announcing a new enterprise-focused stablecoin and predictions a market size of $2.8 trillion by 2028.

ICYMI
In Case You Missed It

Should You Still Invest in UNI?

Our 2024 investor's guide to Uniswap.


Investor Alert: Best Blockchains by Active Users

Our best investment opportunities, rated by daily active users.


How We Beat Traditional Investors by +40%

Our secret sauce, explained.


Where to Buy Bitcoin with the Lowest Fees

With BTC at new highs, where do you buy low?


Top Crypto Exchanges for U.S. Citizens

Exchanges that are unlikely to be targeted by the SEC.

Thanks to our Sponsor

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Chart of the Day

Stablecoin Supply


Stablecoin supply has been steadily increasing in 2024: a stark contrast with the contraction seen in 2023. This growing supply of stablecoins is important to crypto markets for several reasons.


  1. Liquidity: Stablecoins provide liquidity to the crypto markets, allowing traders to quickly enter and exit positions without converting to fiat currency. Thus, stablecoins enhance trading volume and market efficiency.
  2. Price Stability: Price stability is crucial in a market known for its volatility, as it provides a haven for investors during periods of uncertainty.
  3. Increased Trading Volumes: Because stablecoins are often used as a base currency for trading pairs on crypto exchanges, an increasing supply of stablecoins means more capital is available for trading cryptocurrencies, enhancing market depth and reducing slippage.
  4. Access to DeFi: Stablecoins are used to lend, borrow, yield farm, and other DeFi applications. An increasing supply of stablecoins expands the DeFi market's capacity and allows for more participation.
  5. Cross-Border Transactions: PayPal's recent news has shown that stablecoins enable fast and low-cost cross-border transactions, making them attractive for remittances and international trade. An increasing supply can help boost the adoption of stablecoins.
  6. Market Sentiment: A growing stablecoin supply can indicate positive market sentiment, suggesting that investors are converting fiat into stablecoins to participate in the crypto market. This can be considered as a bullish signal for the overall market


Overall, the increasing supply of stablecoins is a key factor in the growth and maturity of the crypto markets. For long-term crypto investors, it's a positive sign.

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Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Steve Walters, Gerald Jackson, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.


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