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Today’s edition is brought to you by Coinbase Wallet - a self-custodial wallet designed for an easy user experience, and backed by one of the biggest names in the industry. |
Send money to anyone instantly with a link! |
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GM. This is the Milk Road. We make crypto fun and easy to follow, like the bouncing yellow ball during a sing-a-long movie. |
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Here’s what we got for you today: |
Bitcoin 🤝 The Most Interesting Man in the World The 11-week streak is over 👀 From $16,000 → $12,000,000 🤑 Solana has a new stablecoin available 🍪 |
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BITCOIN 🤝 THE MOST INTERESTING MAN IN THE WORLD |
There’s a new Bitcoin commercial going viral. |
Why? It’s for Bitwise’s Bitcoin ETF and features “The Most Interesting Man in the World.” |
AKA the guy from the Dos Equis beer commercials. If you still don’t know him, legend has it… |
His blood smells like cologne. The last time he flirted with danger, danger got clingy. He can speak French. In Russian. If he were to pat you on the back, you would list it on your resume. His cereal never gets soggy. It sits there, staying crispy, just for him. His beard alone has experienced more than a lesser man’s entire body. |
And now he’s on Bitwise’s new Bitcoin ads: |
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There’s also a 15-second commercial if you wanna check it out here. |
Milk Road Take: Ad campaigns?! Commercials?! |
This whole time I thought ETFs were just boring paperwork and finance mumbo jumbo... |
Suddenly, I’m more excited for these commercials than the Super Bowl ones. |
Bud Light, Budweiser, Snickers, Old Spice - give ‘em all Bitcoin ETFs and see what they can do! |
All jokes aside, it’ll be interesting how billion-dollar asset managers like BlackRock, Fidelity, etc. will market their crypto products. |
VanEck has already tapped into “the culture” by making the ticker for their ETF product $HODL. Now Bitwise is using “The World’s Most Interesting Man.” |
We’ll see what’s next, |
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| | What happens when you bring the entire world of crypto to the most user-friendly wallet? | You get the most downloaded crypto wallet in the U.S. in the last 5 years. | And when we say the entire world of crypto, we mean it. Coinbase Wallet allows users to do it all: collect NFTs, swap tokens and earn yield, participate in DAOs, and much, much more. | Here’s what you need to know: | Coinbase Wallet supports an ever-growing list of hundreds of thousands of tokens and dapps, while ensuring users receive the best swap prices. Users are able to convert between fiat and crypto with ease, with flexible buying options such as bank accounts, local payment methods, and debit/credit cards in 130+ countries. Security is at the forefront, with advanced security features such as biometrics, passwords, and hardware wallet integration. There is support for all major blockchains, including Bitcoin, Ethereum, Solana, all EMV-compatible networks, and more. | And now, Coinbase Wallet is taking it a step further. You can now send crypto to anyone as easy as a text, even if they don’t have a wallet yet. | Send money to anyone instantly with a link!
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THE 11-WEEK STREAK IS OVER 👀 |
All good things must come to an end... (learned that the hard way when they took away nap time after Kindergarten). |
And after 11 straight weeks of inflows, digital asset products saw their first week of outflows - totaling $16M. |
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According to CoinShare’s latest Digital Asset Funds Flow report: |
There were minor outflows totaling $16M last week. Trading volume was still well above the yearly average ($3.6B last week vs. $1.6B year-to-date average). BTC had the most outflows ($33M) for the week. Altcoins saw $21M in total inflows - including SOL, ADA, and LINK. Blockchain equities saw a BIG week of inflows ($122M) and extended its inflow streak to 9 weeks (the largest run on record). |
CoinShare’s analysts believe the minor outflows last week were “more related to profit-taking rather than a turn in sentiment towards the asset class.” |
We’ll have to wait and see if the inflows can rebound this week. |
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FROM $16,000 —> $12,000,000+ 🤑 |
Every investor dreams of turning a little bit of money into a lot of bit of money. |
I’m talking about going from “I’ll order the most expensive thing on the menu” money → “f*ck it, I’ll just buy the whole restaurant” money. |
Well, check it out. This crypto trader did the damn thing. |
They took $16,000 and turned it into $12,000,000. |
The craziest part? The investor refuses to sell… |
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Here’s the TL;DR on why the trader doesn’t want to sell: |
1/ They believe this is the start of a new bull run. With U.S. interest rate cuts, Bitcoin ETFs, and the Bitcoin halving coming soon, they believe the bull run is only just beginning. |
2/ They think BONK is the memecoin of this bull run. DOGE and SHIB both soared to multi-billion dollar market caps in 2021… |
DOGE hit an all-time high of $74B. SHIB hit an all-time high of $44B. |
BONK is currently sitting at less than $2B, so this trader thinks it’s still super early. |
3/ BONK is a bet on $SOL, which they think hits $1,000 per token this cycle. They think the next wave of crypto adoption will happen on Solana, not on Ethereum. |
And with BONK being the main memecoin of Solana, the theory is all eyes will be on it. |
4/ Retail is not here yet. They think once retail investors join the bull run and more exchanges list the token, BONK’s price will pump even more. |
It’s a big bet (and one that has already paid off $12M), so we’ll see what happens in a few months. |
We’re curious… |
What would you do in this situation? Click on your answer below! |
What would YOU do in this situation? |
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BITE-SIZED COOKIES FOR THE ROAD 🍪 |
Shardeum is an EVM-based layer 1 blockchain that tackles the trilemma through dynamic state sharding. Low fees forever!* |
Circle announced its euro-backed stablecoin (EURC) is available on the Solana blockchain now. The move marks the latest expansion for the stablecoin issuer as the firm seeks to drive mainstream global usage of EURC. |
Grayscale’s CEO says a Bitcoin ETF approval could open doors for “$30 trillion worth of advised wealth.” I’ll be honest, I didn’t hear anything he said after $30 TRILLION. |
A crypto-focused super PAC has raised $78M to support pro-crypto political candidates. Some big names like Coinbase, Kraken, Ripple, and a16z helped raise and donate the funds. |
Improbable sold its gaming services subsidiary (MPG) for ~$100M. The metaverse startup first acquired MPG back in 2019 for ~$38M. |
*This is sponsored content |
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MILKY MEMES 🤣 |
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ROADER REVIEW OF THE DAY |
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VITALIK PIC OF THE DAY |
| Milk Road Images @MilkRoadImages | |
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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. |
