🧠Quote(s) of the week:

"The internet reorganized the world and started the transition from the Analog Age to the Digital Age.
Bitcoin is the logical next step and has already begun repricing the world.

This potent combination will have (is already having) significant implications for individuals, families, businesses, and even nation-states.

Long-standing power structures are shifting before our very eyes... And this is just the beginning.
The seeds for the coming Age of Legends have already sprouted.

Cling to the old ways and methods and social hierarchies and currencies if you want to, but it's much more interesting to help build a better tomorrow for humanity.

Bitcoin is Better Money for a Better World." - Dr. Jeff Ross

🧡Bitcoin news🧡

➡️El Salvador is up $74 million (+60%) and now $200M on their Bitcoin holdings.
Their GDP is ~$30B and growing at 2% a 10x in Bitcoin would add 7% nearly quadruple GDP growth
Emerging economies are going to see this and say wtf are we doing? Hello, game theory!

➡️Arkham claims to have identified Tesla and SpaceX's on-chain Bitcoin holdings.
"We believe Tesla currently has 11.51K (BTC $780M) across 68 addresses and SpaceX has 8.29K BTC ($560M) across 28 addresses, consistent with the financial statements of Tesla and SpaceX.”

➡️Bitcoin privacy summarized:
1. Without KYC data your Bitcoin is pseudonymous.
2. Coinjoin, like Whirlpool, enables you to obscure your activity.
3. Running a node (over Tor) gives you protection at the network level, and eliminates trusted 3rd parties.

➡️The latest Brave Wallet desktop update (v1.63) introduces all main Bitcoin address formats, including Legacy, Nested SegWit, Native SegWit, and Taproot.
Great step by Brave and I would recommend each and everyone to use Brave as your standard browser. The logical next step would be to incorporate Lightning into their wallet.

➡️37 days to the Bitcoin halving when BTC inflation drops to less than half that of gold which makes it the hardest money in the history of humanity.
On top of that Bitcoin:
"ETFs are buying 10k Bitcoin per day and only 900 are mined. They get the rest from weak hands, pRoFiT takers, and people who broke even from the last bull run. These people will soon be empty. Then the ETFs will bid for the BTC held by laser-eyed 80 IQ psychopaths. Good luck!" Bitcoin for Freedom
Are you ready?

➡️Do you remember how the ETC posted on Twitter that Bitcoin has failed to become a global decentralized digital currency, instead falling victim to fraud and manipulation?

The recent approval of an ETF doesn’t change the fact that Bitcoin is costly, slow, and inconvenient.
No, you don't remember it, and neither do I....haha
(picture 2)

➡️The state of Louisiana becomes the eleventh state to officially introduce a bill to protect fundamental Bitcoin rights.

This bill, sponsored by @WrightLouisiana, protects:
Your right to buy, sell, and trade Bitcoin
Your right to mine & validate
Your right to self-custody Bitcoin
Your right to run a full node

The momentum for Bitcoin is building at an impressive pace, with Louisiana stepping into the spotlight as the eleventh state to introduce legislation aimed at protecting Bitcoin users' fundamental rights.

➡️Stanford Endowment has bought Bitcoin at 45k.
In February, pitched IBIT to Blyth Fund, the student-run fund which manages a portion of Stanford's Endowment.
Bitcoin is now ~7% of the portfolio.
The thesis, which tried to remain as objectively bullish as possible while catering to an audience of skeptics, revolved around 3 key factors:
-ETF Inflows
-Cyclicality of Bitcoin
-Schelling Point For Monetary Chaos + War
Here's the pitch (25min) that convinced them to buy:
https://twitter.com/kolelee_/status/1764745867435921745

➡️The whole world’s getting repriced in terms of Bitcoin…and there’ll only ever be 21 million…which means everything’s still overvalued by about 330x.
https://twitter.com/w_s_bitcoin/status/1764661974074286093

This means Bitcoin is undervalued by 330x.

➡️"The Senator who said “Bitcoin can open the doors of corruption in El Salvador," was just indicted on 18 counts for obstruction of justice.

Federal Prosecutors seized $100,000 in gold bars and $480,000 in hidden cash from his home. 

Quelle dommage…" - RaderHits

➡️Germany's largest stock exchange Deutsche Börse has launched a Bitcoin and crypto trading platform for institutions.

➡️On the 5th of March: "The ten Bitcoin ETFs did $10b in volume today, smashing the previous record set last Wed. Volatility and volume go hand in hand with ETFs so not totally surprised. That said these are bananas numbers for ETfs under 2mo old."
Although this sounds great, five companies (AAPL, MSFT, GOOGL, AMZN, and META) are hoarding a combined $517B of cash.
A mere 1.67% of that is equivalent to the $8.5B of total net inflows into the Bitcoin ETFs, so far.
Ask yourself what will happen if Blackrock advisors are talking to these five companies to allocate 1-5% into Bitcoin via IBIT.

We are not there yet, and I quote Joe Carlasara:
"The bigger the realized market cap of Bitcoin, the MORE attractive it becomes to big money.
Countless players still view the Bitcoin market as too small to merit attention. This changes when the market is 3x to 5x larger.
As a fund manager who I speak with regularly said, “If it can sustain itself above $100,000, we might start to nibble.”
Understanding this dynamic is key."

➡️On the 7th of March, we received the news that BlackRock filed with the SEC to purchase spot Bitcoin ETFs for its $15B Global Allocation Fund. Its $36b Strategic Income Opportunities Fund will also buy Bitcoin ETFs, as announced last week.
"Blackrock has $10 Trillion in assets under management.
Another $20 Trillion of funds use their Aladdin platform to make portfolio allocations.
BlackRock has stated that the optimal Bitcoin allocation is 84.9% of a portfolio.
Of course, few will do this, but we now have the world's biggest fund manager telling investors to get off zero.
Ernst & Young estimates that $200 Trillion of Institutional assets could not touch Bitcoin until an ETF was approved. "

➡️On the 8th of March: "BlackRock Bitcoin ETF is set to break $10 BILLION in total flows today.
Fidelity is a strong second place with $6 Billion.
Demand is strong and is set to grow as more investment platforms and banks allow these ETFs onto their platforms." - Bitcoin Archive
Just for some context on the Fidelity bit.
Fidelity Bitcoin ETF smashed through its former record high with $473 million of inflows on the 7th of March.

➡️Today we received the news that VanEck drops Bitcoin ETF fees to ZERO until March 2025! You have no clue what is coming! Hell, game theory!

➡️After the 8th of March, BlackRock passed Microstrategy on Bitcoin owned.
Microstrategy took 3.5 years to reach it, and BlackRock made it in less than 2 months. yikes
Blackrock saw its biggest one-day inflow ever this week, acquiring 12.6K Bitcoin ($842M).
Their total holdings on the 9th of March stood at 196K Bitcoin. (picture 8)

➡️Saylor is a freaking Chad though. MicroStrategy approaching $8 BILLION in profit on their Bitcoin position. And today we received the news that
MicroStrategy acquired an additional 12,000 BTC for $821.7M MSTR now hodls 205,000 BTC acquired for ~$6.91B at an average price of $33,706 per Bitcoin.

Pretty crazy stats:
The New 9 have flipped GBTC.
IBIT has flipped MSTR.
In general, "the first two months are officially in the books (it's felt like six) and the ten bitcoin ETFs now have over $55b in assets with exactly double that in volume at $110b. If these were the numbers at the end of the year I'd call them a success. To do it in eight weeks is simply absurd." - Eric Balchunas
Wall Street is now in Control.

➡️Billionaire entrepreneur, Mark Cuban, calls Bitcoin a great store of value and states that he expects the price to go up due to supply and demand. It wasn’t long ago he claimed Bitcoin was worthless.

Just remember, their change in tone didn't happen by accident. The narrative is changing.

➡️“OurBitcoin price target is now well above $1M by 2030, and with our new expectations for institutional involvement, the incremental price that we assume for institutions actually has more than doubled," says ARK Invest CEO Cathie Wood

➡️Bitcoin miners recorded the second-highest daily revenue ever at $75.9M on March 6th, the same day Hut 8 closed a Canadian site due to power issues and high energy costs, according to CryptoQuant head of research Julio Moreno.

➡️Bitcoin miners are returning to the market after bear market hibernation, burning record energy and buying $1B worth of mining equipment despite the impending halving, according to Bloomberg.

➡️The only thing rising faster than U.S. debt is the Bitcoin hash rate.
Hash is the real thing! Everything else is just noise.

➡️Bitcoin is demonetising Gold ETFs as the 'Store of Value' narrative takes hold.
Bitcoin ETFs are taking in billions, while Gold ETFs are bleeding assets. 
Bitcoin ETFs are catching up to Gold ETFs for assets. 
$54 for BTC
$96b for Gold
(picture 3)
Bitcoin ETF volume surpasses $100 BILLION
This exceeds total flows into all physical gold ETFs over the past five years

💸Traditional Finance / Macro: 

What can you expect this week in the traditional financial market? 
Main highlight ahead:
In the US, we have CPI, retail sales, and PPI. In Europe, it’s the euro area industrial production, Sweden and Norway CPI, and UK labor market data. In Asia, we have India and China's CPI and the PBOC’s MLF rate decision.

"The S&P 500 has hit a record 5180 and is now up an incredible 26% in just 4 months.
Since the October 2023 low, the S&P 500 has added nearly 1,100 points.
In just 88 trading days, the S&P 500 has added $9 TRILLION in market cap.
That's an average of $102 billion per trading day for 88 days straight.
Since the March 2020 pandemic low, the S&P 500 is up 137%." - TKL

👉🏽"Nvidia, the 3rd biggest company in the world, fell 10% in 30 minutes on the 8th of March.
That's a company with $2.3 trillion in market cap trading like a penny stock.
Is it weird that this feels completely normal now?" - TKL

🏦Banks: 

👉🏽"New York Community Bank stock crashes 20%+ after reporting "material weakness in internal controls."
The weakness is reportedly related to loan review resulting from ineffective oversight and risk assessment.
NYCB is the same bank that acquired the collapse of Signature Bank during the regional bank crisis.
This comes just weeks after the bank posted an unexpected $260 million loss in Q4 2023.
The stock is now at its lowest level since 1997."

On the day I posted last week's Weekly Recap, see the part above, New York Community Bank crashed 42% and has trading halted. Yikes

🌎Macro/Geopolitics:

Last week we received the news that the US payrolls were revised, again! January payrolls revised from 353K to... 229K

How many illegal immigrants were hired in February to make the Bidenomics "beat by 30K then revise it down by 50K next month" quota? Take a guess...

in February 1.2 million foreign-born workers (immigrants, both legal and illegal) found a new job. Meanwhile, 500K native-born American workers lost their jobs. And the bide admin is bragging about 250K jobs last month.

So what does that tell us...the market / financial economy rallies on what turns out to be false data and then rallies some more on the new false data and ignores the corrected data.
Rinse & repeat. Numbers don't mean a thing.

Just to give you some more info:
In the past year, the US has created 921,000 part-time jobs and lost 284,000 full-time jobs.
They just forget to mention this to the public. But Felipe, the headline jobs number says the US has added jobs for 38 straight months.
How is this possible?
Over the last 12 months, these full-time jobs have been replaced by 921,000 part-time jobs, according to Zerohedge.
The true number of workers employed in the United States right now is at its lowest since May 2023.
Last month, payrolls jumped by 275,000 but the total number of individuals employed fell by 184,000.
Just to give you some more details I quote Zerohedge:
"1. In the past year,
the US has lost 284K full-time jobs, these have been replaced with 921K part-time jobs

2. In February alone,
a record 1.2 million foreign-born jobs
were added.

3. In the past three months,
a record (ex-covid crash) 2.4 million native-born jobs have been lost,
including 494K jobs lost in February.

4. Most shocking,
since May 2018, there have been ZERO jobs created for native-born Americans. All jobs in the past 6 years have gone to immigrants, legal and illegal."

The US labor market is strong, right?
Here's a visual representation of the MASSIVE downward revisions in the jobs reports. (picture 4)

👉🏽"Credit card debt is now above the pre-covid trendline. The Savings rate... is not." - Zerohedge
(picture 5)

But hey, they say things like "the economy is strong", and "everything is fine.".
What you see is inflated debt from thin air using fake money. Eventually, UBI & CBDC will be offered in the depths of the crisis.

More on the DEBT bit...
"To put things into perspective: It took Uncle Sam 232 years to accumulate its first $10tn in debt, 9 years to accumulate its second, and 5 years to reach its third. The trip from $33 to $34tn in debt was a short one, requiring only 3 months, from Sep to Dec of 2023, Strategas has calculated."
(picture 6)

👉🏽ECB's Lagarde signals a June rate cut with 2% inflation in sight. Markets agree and price in 97bps cut for 2024.

At the same time in the US, FED chair Jerome Powell: "We are not looking for inflation to go all the way down to 2% but we do need more evidence".
Ergo: Grooming the sheep for 3% thievery,...I mean inflation.
I fully believe that the next decade(s) will be much more inflationary so the government continues to deficit spend 9print money to keep the economy artificially afloat.

👉🏽Gold has hit another record, but the volume of gold ETFs keeps falling. This indicates that demand is not coming from private or institutional investors, but that other players are stocking up on the precious metal. Central banks were a major driver of Gold prices in 2022/2023 and will likely continue to be so in 2024. This is ominous for the (current) monetary system.

👉🏽Meanwhile, in China, massive lines form across China as citizens rush to buy gold in an effort to preserve their wealth amidst a declining economy.
How long until they start finding ways to obtain Bitcoin?

👉🏽A couple of Weekly Recaps I shared some info on the average number of usual weekly hours of work in the main job across Europe.
"In the Netherlands, roughly half of all employees work 35 hours or less, and polls show that even more people would like to work less. The same trend occurs in many other Western countries as well. This is fine as long as you accept that GDP growth will be structurally lower because of this. Yet GDP growth remains one of the key ‘promises’ of every politician and central banker. To realize artificial growth, the same ‘magic’ ingredient is used over and over again. Debt! As a result, debt is now the primary ‘source’ of growth around the globe." - Jeroen Blokland (picture 7)
Now sometimes working less produces more. But that is not the case. Productivity has risen much faster in the US than in the Eurozone. So not only has the US a much stronger demographics than Europe, but also productivity is way better than Europe. Now the real question would be...how great is the quality of that productivity?
Source: https://www.ft.com/content/22089f01-8468-4905-8e36-fd35d2b2293e

🎁If you have made it this far I would like to give you a little gift:

A great What Bitcoin Did podcast. And please I urge you to watch the interview on YouTube because of the in-depth charts:
Bitcoin’s Biggest Bull Run with
@therationalroot
- The pace of this bull market
- Bitcoin ETF growth & flows
- What to expect post halving
- The changing dynamics of the market

https://www.youtube.com/watch?v=-fuek7IalU8&t=1818s

“I think we’ll just get to prices from a million to 10 million at some point, and then Bitcoin is going to be such a big currency that it just becomes a better currency than the US dollar obviously…that will also be a gradual transition.”Free knowledge!

Anyway, that's it for today.
Only invest in Bitcoin what you can’t afford to have gradually stolen from you by the government.
Credit: I have used multiple sources!

My savings account: Bitcoin
The tool I recommend for setting up a Bitcoin savings plan: @Relai 🇨🇭 especially suited for beginners or people who want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy. Check out my tutorial post (Instagram) & video (YouTube) for more info.
⠀⠀⠀⠀
Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node...be your own bank. Not your keys, not your coins. It's that simple.
⠀⠀⠀⠀⠀⠀⠀⠀
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