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Health, Wealth, and Happiness

December 15, 2023

“Financial freedom is available to those who learn about it and work for it.”



- Robert Kiyosaki

Howdy, investors!

Today, we cover MicroStrategy, the software company betting the farm on bitcoin. This sounds like a great move if you're a bitcoin evangelist. Still, savvy investors might reconsider going whole-hog into a single asset.

In other news, it looks like mining companies have improved their efficiencies since bitcoin mining fell out of favor in 2022. Changes in the market are making mining companies far more attractive as we head into 2024.

You might already know the turf war between the CFTC and the SEC over crypto. While the SEC wants crypto to be considered securities, the CFTC has been clear for years that most crypto tokens are commodities. But who's right?

Predictions are always widespread as a new year looms, and today, we get ten predictions for crypto in 2024 from Bitwise Investments. Well worth reading.

Read on to explore more!

MicroStrategy: Betting the Farm on Bitcoin

by John Hargrave

In November 2023, the software company MicroStrategy made a big gamble: it bought over 16,000 bitcoin, spending nearly $600 million.

Then it threw them onto the pile of bitcoin it had been stockpiling, for a total of 175,000 bitcoin worth over $5 billion. This puts them on the Top 10 list of bitcoin holders, along with Binance, the U.S. government, and Satoshi Nakamoto.

In CEO Michael Saylor’s view, “cash is trash,” so keeping his company assets in rapidly inflating U.S. dollars is like holding a “melting ice cube.” Bitcoin, on the other hand, is “digital gold”: a lasting store of value.

While this has made Saylor a hero in the eyes of the bitcoin faithful, our view is different. By betting everything on bitcoin, Saylor has taken on unnecessary risk: he has bet the farm on bitcoin.

Read our investor story of MicroStrategy here >>

Must Read

Today's most important stories for crypto investors.

Crypto Miners Hit Paydirt (Blockworks)

Investor takeaway: Despite a tough year, bitcoin mining companies are seeing improved prospects ahead: higher transaction fees, lower electricity costs, and revenue diversification into AI computing, are all making mining a more attractive investment.

Best of all, many mining companies are publicly-traded stocks: no crypto wallet needed. Time to take another look at our Top Mining Stocks for 2024.

CFTC Chair Admits There's A "Turf War" Going On Over Crypto(International Business Times)

Investor takeaway: CFTC Chairman Rostin Behnam, in an interview on CNBC's "Squawk Box," stated that many crypto tokens are commodities under current U.S. law. (This differs from SEC Chair Gary Gensler, who considers crypto securities.)

Watch this turf war between the SEC and the CFTC, because the agency that wins will have a big impact on how crypto is regulated -- and that will be reflected in the price of your investments.

The Year Ahead: 10 Crypto Predictions for 2024 (Bitwise Investments)

Investor takeaway: Among their predictions are that bitcoin could reach record highs on optimism over a spot bitcoin ETF. Coinbase could double its revenue. And financial players like J.P. Morgan could potentially tokenize their funds.

Expectations dictate reality. So the real value in prediction articles is to see what people are currently thinking, and look for investing ideas that may come out of those expectations.

Top Crypto Cold Storage Wallets for 2024

If you want to keep your crypto safe, keep it cold.

Best Bitcoin Mining Rigs, Rated and Reviewed for 2024

These bitcoin miners can help you dig up some digital gold.

The Parable of the Bitcorn

The world's most expensive vegetable.

How to Mine MOBILE Tokens

The new opportunity from Helium's mobile 5G network.

Best Crypto Mining Rigs, Rated and Reviewed for 2024

As the crypto markets rally, consider breaking out the digital picks and shovels.

Blockchain Basics

Explain Like I'm 5

BMJ Basics:

The Principles of Value investing

Click to learn.

Best Stablecoin Interest Rates

The best rates for staking and lending stablecoins this week.

Click here to see our current rates, updated weekly.

Note: Nexo rates are dependent on your Nexo Loyalty Tier, which is based on the number of Nexo tokens held in your account. Your rates may vary.

We don't buy the dip, we steady-drip.

(Thanks to Coindoo)

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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