TL; DR
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Someone just made a 7,000% return on their BTC investment, the Grayscale BTC ETF saw its first ever inflows, and the crypto market has recovered!
Full story
Okay, so the second article in today’s edition is a bit depressing…
So let’s lead things off with some positive, snackable, high-fructose news stories:
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A mysterious Bitcoin wallet just moved some money for the first time since 2014.
At the time, the 687 BTC were worth about $620,000… now they’re worth a whopping $44 million (give or take) – that’s a ~7,000% return.
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The Grayscale BTC ETF has been bleeding money since its launch… until last Friday when it reported inflows of $63 million!
Grayscale’s consistent selling pressure has helped stymie Bitcoin’s recent price rise. Now that the situation has turned around, we can expect solid (market-wide) gains in the coming months.
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The crypto market has pulled itself out of the gutter in less than a week!
Last Wednesday, BTC was at $56.5k, ETH at $2.8k and SOL at $118.
Over the weekend, Bitcoin rose to $65k, Ethereum returned to $3.2k, while Solana hovered around $153 (at the time of writing).
Not bad. Not bad at all.