The Latest Bitcoin & Macro news: Weekly Recap 11.11.2024

If you rather want to read the long format, including charts/pictures, outside of Nostr, click here:

https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdenxy6rgdenxgunzv33uqqsv6

On Nostr: without the charts/pictures:
nostr:naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdenxy6rgdenxgunzv33uqqsv6

Do you think this post/blog is helpful to you?
If so, please share it and support my work with a zap.

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

⭐ Many thanks⭐

Felipe - Bitcoin Friday!

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃


## 🧠Quote(s) of the week:

'If you have survived China mining ban, FTX, BlockFi, Celsius, Futures ETFs, and massive FUD you are now a confirmed Bitcoin HODL’er. It’s time to sit back and enjoy The Banana Zone' - BTCforFreedom

'You should not sell your bitcoin. Your children should not sell your family’s bitcoin. It is wealth that should last generations.
This is grabbing land in the New World in the 1700s, except instead of waiting 350 years for it to mature, you wait 20 years.' - Wealth Theory

## 🧡Bitcoin news🧡

Let me start this week's Weekly Recap with the following message.
This is it, ladies & gentlemen. Retail is starting to get excited. People are asking me: 'Should I buy Bitcoin?', 'Am I too late?', 'Will Bitcoin reach the 100K or 200K?'
I honestly have no clue, and it depends on the liquidity splashes coming from central banks. But I truly believe much higher than 100K. Don't pinpoint it, as I said, I have no clue.

But for the love of god, calm your tits people! This is not the end goal! Now I am in no position to tell you what to do with your corn, but selling now? I don't think so chief!
You didn’t sit through 7 months of chop to start thinking about the exit already.
You can endure the same amount of time again.
How do I feel about Bitcoin in the upcoming years, and decades, well let me explain that with the following picture:

[](https://image.nostr.build/71a54d7ec7173f767642ae1ab3a6c315d6eaf719c047b33c19cf308bed312078.jpg)

So Trump won, but remember, you will still want to own Bitcoin.

'There is no red.
There is no blue.
There is the State.
And there is you.' - WalkerAmerika

On the 5th of November:

➡Semler Scientific announced yesterday that they increased their Bitcoin holdings to 1,058 BTC. Today, their stock is up 25%.

➡Bitcoin mining difficulty hits a new ATH, surpassing 100 trillion.

➡Bitcoin has always gone PARABOLIC after a US election, and Bitcoin has never dipped back lower than the price on election day.

➡Trump as the US President:
- Pardoning Ross Ulbricht on Day One
- A Strategic Bitcoin Reserve
- Friendly mining policies
- Favorable SEC: end of Choke Point 2.0

➡Semler Scientific purchases an additional 47 Bitcoin, and now holds 1,058.

➡Bitcoin miners Marathon Digital and Riot Platforms report their highest production since halving in October.
Marathon mined 717 BTC ($48.8M), while Riot mined 505 BTC $34.4M).

On the 6th of November:

➡Bitcoin hits a new all-time high. Bitcoin hit $75,000 for the first time as it became clear Trump won the election. The anti-Bitcoin movement died last night (election day/night). The USA will be the most pro-Bitcoin nation in the world. And it looks like they will have a Bitcoin Strategic Reserve.

Senator Lummis has put forward a bill for the U.S. Govt to buy 200,000 Bitcoin per year over 5 years for a total of 1,000,000 $BTC. At today's price that would be worth $76 BILLION.

One tiny little thing is why I am skeptical about this bill. During a speech at the Bitcoin conference in Nashville Lummis used her words quite well, let's say strangely:
Her word choice here is "assemble" instead of "purchase" or "buy".  Most likely MicroStrategy will play a role and they, the US government,  already have like 200K Bitcoin.

I have a feeling a Strategic Bitcoin Reserve will be built through confiscation and taxation – and Lummis is already hard at work to make it happen. Just a feeling.

➡You have approximately three months until the U.S. Government puts into law the active accumulation of Bitcoin as a strategic reserve asset.

Other sovereigns will be discreetly front-running. The clock has already started. Cheers to everyone who built a Strategic Bitcoin Reserve before the United States of America.

➡BlackRock’s Bitcoin ETF saw a record volume of $1 billion today in the first 20 minutes. Bitcoin ETFs have seen $3.73 billion in trading volume over the last 24 hours, with BlackRock accounting for over half of it.

➡$4.5 billion Bitwise CIO says, “We are entering the Golden Age of Crypto.” We will see a “strong bull market for years to come.”

➡Bitcoin surpasses Meta to become the world’s 9th largest asset by market cap.

➡'MicroStrategy breaks $50 BILLION market cap and is now worth more than Ford Motor Company.

Ford has lost ~60% of its market cap since 2022 and holds $26 BILLION in cash, about 65% of its total market cap! The "melting ice cube" of cash holdings, eroded by inflation year after year. This is what Michael Saylor feared for his company when he decided to buy Bitcoin in 2020. MicroStrategy's market cap has been up ~45x since then.
Get some Bitcoin Ford.' - Bitcoin Archive

On the 7th of November:

➡MicroStrategy will spend $10 BILLION buying Bitcoin next year, which is more than the total amount it has spent buying Bitcoin since 2020.

[](https://image.nostr.build/8721184944693d1b375af756feb015f528dcd32fdd44adcdf3654be88db550b6.jpg)

➡Bitcoin is tracking the 2017 and 2021 bull markets perfectly and is ready for lift-off.

➡Italy is under pressure from lawmakers to drop proposals to raise taxes on Bitcoin. & crypto capital gains.

Economic Minister: "I am willing to consider different forms of taxation for people who keep investments in their portfolio."

➡Chinese TV reporting that “Trump will make the US the world's crypto capital and establish a strategic Bitcoin reserve.”
This is now urgent for every nation.

➡ Bitcoin Treasuries are expanding in the EU.

The Blockchain Group has appointed Alexandre Laizet as Deputy CEO, focusing on boosting Bitcoin holdings per share.
They’re raising €1 million to acquire 15 Bitcoin, strengthening their BTC strategy.

On the 8th of November:

➡Yesterday's Bitcoin ETF inflows have reached a new high with $1,373.8 million of inflows.
Blackrock did $1,119.9 million and Fidelity $190.9 million.
Price went from $75k to $76.5k now, sitting back at $75.7k.

➡Swiss National Bank Chairman says Bitcoin is a "niche phenomenon" not suitable for payments.
Meanwhile: The largest Swiss Canton bank now offers Bitcoin to 1.5m customers Bitcoin!

➡ Bitcoin held by country:
[](https://image.nostr.build/85d01363c3af40afe3eedf0ec1375c23c46f4cb38dd015a877d7db2bfe4e30b3.jpg)

➡ Bitcoin vs. Gold ETF inflows by year.
[](https://image.nostr.build/571aebb2ed0ea3838ba9af5ef253dc178f7a2d14760405e810684d855df9d7a5.jpg)

Bear in mind that the first year of an ETF is historically the hardest to attract inflows.
In 10 months, Blackrock's Bitcoin ETF just surpassed what Blackrock's Gold ETF did in 20 years.

➡'The former CEO of Sotheby's, Tim Smith. It is his job to know value. He retired and studied Bitcoin and the economy we have just been in.
Please I urge you to understand as Bitcoin goes from $76,000 to $1,000,000 and beyond.' - Brian Roemmele
Please watch the clip: [here](https://x.com/BrianRoemmele/status/1854604073565405312)

The video is perfectly explained by BTConlyScoot:
'This is the perfect type of individual and video to show to your high institutional trust, high IQ friends who are skeptical of Bitcoin... The CEO of Sotheby's tells them;
1. they need to do 100-100 hours (not you telling them - the CEO of Sotheby's)
2. 8-10% increase in money supply = 8-10% increase in S&P index, is correlated and consequentially is no increase in your wealth (... again not you telling them)
Because they are high-trust individuals, they need someone with credentials they respect to spell it out.

Then they just might study Bitcoin! But you won't get the credit.'

➡Google searches for Bitcoin are surging as the price hit $76,000 to make a record high this week.  In good dutch, 'het klootjesvolk komt eraan!'.

➡German parliament member Joana Cotar says "If the US buys Bitcoin as a strategic reserve, then I think all the European countries will get FOMO.”

German government's decision to sell 50,000 Bitcoin at $54K cost them $1.1 billion in missed profits. Wunderbar!

On the 9th of November:

➡El Salvador is now $100 million in profits on their Bitcoin.

➡Bitcoin ETFs bought $2.3 BILLION of Bitcoin in the last 3 days.

On the 10th of November:

➡Bitcoin has finally reached its first inflation-adjusted all-time high since 2021.

➡El Salvador is now $100 million in profits on their Bitcoin.

On the 11th of November:

➡$725 billion Bernstein urges investors to add exposure to Bitcoin “as soon as possible.”
“We will keep it simple. Don’t fight this.”

➡Wicked: 'When Bitcoin first broke out above its all-time high in 2017, it pumped +139% and then had a brutal -40% retracement. If we saw those percentages again for this cycle's first break out, we'd see a pump to $167k followed by a retracement back to $100k.'
➡BlackRock’s Bitcoin ETF does $1 BILLION trading volume in just 35 minutes.

➡MicroStrategy acquires an additional 27,200 BTC for $2 billion
They now hold 279,420 BTC acquired at $42,692 per Bitcoin. Michael Saylor outlines the path for MicroStrategy to become a TRILLION-DOLLAR company.
“I think it's infinitely scalable.  I don't have any problem seeing how we could raise $100bn more capital and then $200bn after that."

➡This is the biggest single-day $ price increase in Bitcoin history!

##
💸Traditional Finance / Macro:

On the 5th of November:

👉🏽'Corruption, the billionaires and market makers always know.
Last Week: Ken Griffin sold 79% of Citadel’s Stake in Nvidia.This Week: Nvidia, ask the US Supreme Court to spare them from securities fraud suits.' Meta News

👉🏽[](https://image.nostr.build/76b7ab3d1cb7d459e2334497ce2e9fc944644f6736015e9d07dbc30606819370.jpg)

 The vast majority of productivity gains and the added value created by human innovation is robbed by governments through inflation. That's why we Bitcoin.

On the 9th of November:

👉🏽For the first time in history, the S&P 500 broke above 6,000 last week, up +46% in 13 months.
The S&P 500 now has a market cap of $50 TRILLION, adding $15 trillion since October 2023.
However, US technology funds have seen a record $5 billion of outflows over the last 4 weeks.

On the 10th of November:

👉🏽'Berkshire Hathaway’s, cash position relative to total assets jumped to 28.0% in Q3 2024, the most in at least 34 years.
This means that Buffett's cash share has DOUBLED in just a year.
The company is piling into cash at a faster pace than in the mid-2000s.
Back then, this percentage reached 24.5% in Q2 2005 and remained elevated until 2008.
Berkshire Hathaway also decided to HALT stock buybacks for the first time since 2018.
Does Warren Buffett believe the market is too expensive?' - TKL

## 🏦Banks:
👉🏽no news

## 🌎Macro/Geopolitics:

On the 5th of November:

👉🏽'Output per hours worked ("labor productivity") has increased *much* more in the US than in other advanced economies since the pandemic.
Maybe using an economic policy strategy aimed at running the economy hot was not a bad idea after all?' - Phillip Heimberger

👉🏽In 2000, China accounted for 6% of global manufacturing.
In 2030, China is projected to account for almost half of all global manufacturing.
This kind of shift is unprecedented in the modern world economy.

👉🏽Evidence of plutocratic developments in the US:
Billionaires spent nearly $2 billion on the 2024 US presidential election (60% more than during the 2020 election).
Almost three-quarters of billionaire campaign spending went to Republicans.

👉🏽Jeroen Blokland: 'We go into the USElection2024 with US debt higher than ever, and both candidates are likely to add much more of it than is projected in the already dire baseline projected by the Congressional Budget Office. Obviously, the US will print its way out of this.

A key question is whether this will trigger a faster unfolding of Gresham's law, the phenomenon where people will spend 'bad' money (money with less value) first and hoard 'good' money (money with more value.)'
[](https://image.nostr.build/b02b73bd7a1d75b811bcade9146a2f4a6da36ec66202a2934def1ec08c7f730a.jpg)

👉🏽'Global central bank net gold purchases reached 694 tonnes year-to-date, the 3rd largest on record.

In Q3 alone, the net buying hit 186 tonnes as gold prices continued their historic run.
Since 2022, central banks have acquired a MASSIVE 2,825 tonnes of gold, double the average seen before the 2020 pandemic.
Purchases have been primarily driven by China, India, Turkey and Poland.
Gold prices have hit 41 all-time highs this year and are up 33% year-to-date, the best performance in 3 decades.

Central banks are stocking up on gold while calling for a "soft landing." -TKL

On the 6th of November:

👉🏽Trump won the elections in a decisive way. Trump's win is responsible for this Bitcoin pump, which will likely lead to a more sustained long-term bull run. Yet make no mistake the bull run would've still happened even if Trump had lost.

Some important stats:
* Trump won Starr County TX, the most Hispanic county in America at 97% by 16 points.
The last time it voted Republican was in 1892.
* What about campaign spending in the swing states?
[](https://image.nostr.build/031edb789fa9b1b5447c2b16e660140835e08f5b6dd1e66c95288f15f482494e.jpg)

I guess campaign spending doesn't determine the outcome. Worth noting that far more “billionaires” backed Harris than Trump and she raised almost 50% more money.
3 out of 4 Americans who said that inflation caused them and their family severe hardship in the last year voted for Trump.

* People hate price increases (irrespective of whether their real wages keep up), and this was a major reason for voting the Democrats out.

* 2004 John Kerry 59 million votes.

2008 Barack Obama 69.5 million votes.

2012 Barack Obama 65.9 million votes.

2016 Hillary Clinton 65.8 million votes.

2020 Joe Biden 81 million votes.

2024 Kamala Harris 68 million votes.

What happened in 2020?

Peter McCormack is spot on: "To all the people that are surprised and angry by the Trump result, I am sad to inform you that there is an equal cohort in the UK who are also pissed off with the corporate media, political elite, inflation, attacks on free speech, etc...
Your irrational meltdowns will not change what is coming..."

👉🏽'To my friends in Germany, it seems that with the news of the end of the German government, both Harris and Habeck will fall into irrelevance the same day. Cheers.'

[](https://image.nostr.build/9198372c2c5cbf725b5c20e525e2d40e6130303b8008ccbf648877d76cc35a9a.jpg)

On this day the German coalition government imploded. As the federal government is collapsing and the country approaches early elections, the right-wing party AfD is ahead of all three government parties. Lindner triggered the collapse, and his FDP is currently unlikely to even overcome the 5% hurdle of getting into parliament.

On top of that Germany is not in a recession, the German business model based on cheap energy from Russia, growing exports to China, and cheap subcontractors in Eastern Europe is imploding.

Grotesque overregulation, green paranoia and ideological amateurs in key government positions do the rest. Industrial production in Germany is now 17% *lower* than at the end of 2017. Auf gehts, Jungs!

To make it even worse, on the 11th of November news came in: the German economy is suffering from the worst lack of orders since the global financial crisis of 2009 — Ifo Institute

On the 7th of November:

👉🏽REPORTER: If Trump asked you to leave would you go?  Jay Powell: No
REPORTER: You're not required to leave?
Jay Powell: No
Q: If the Fed doesn't answer to the President of the USA, who does it answer to?!

In terms of funding, the Fed operates like a private entity but its board reports to Congress.

It’s an independent entity within the us government. The president chooses the fed chair but after being selected he can’t remove him because of political conflict of interest.

But you must ask yourself who is on the board of the Fed? Good luck finding out who. The banking cartel. The families that run it. You ain't in that club.

👉🏽'What's happening with the "Fed pivot?"
Today, the Fed cut interest rates by 25 bps in their 2nd cut since 2020.
Meanwhile, mortgage rates are at their highest level since July and have risen ~100 basis points in 2 months.
Is the market doubting the Fed pivot?' -TKL
The Bank of England also cut rates today.

👉🏽'US personal interest payments hit $556 BILLION in September, the second-largest in history.
Since 2022, Americans' interest costs have DOUBLED.
Personal interest as a percentage of disposable personal income is now at 2.5%, near the highest since the 2008 Financial Crisis.
This metric is also materially higher than the 2.0% seen in the 1970s when interest rates were almost twice as much as the current 4.75%-5.00% range.
All while the total household debt sits at a record $17.8 TRILLION.
Consumers are drowning in interest expense.' -TKL

On the 8th of November:

👉🏽China announced a $1.4 TRILLION debt bailout and is working on more measures to boost the economy.

On the 9th of November:

👉🏽Robert Habeck, German Vice Chancellor, and Green party member: "The regulation of algorithms, of X or TikTok, through the application of European legal norms is a central task. We cannot place ‘democratic discourse’ in the hands of Elon Musk and Chinese software."
Good luck Robert Habeck with regulating X. You have not noticed that things have changed since Tuesday? There is a new sheriff in town.
JD Vance says the US could veto NATO if Europe tries to regulate Elon Musk’s platforms.

“If NATO wants us to continue supporting them, and NATO wants us to continue to be a good participant in this military alliance, why don't you respect American values and respect free speech?”
“It's insane that we would support a military alliance if that military alliance isn't gonna be pro-free speech.”
“We've gotta say American power comes with certain strings attached. One of those is respect for free speech, especially in our European allies.”
“European countries should theoretically share American values, especially about some very basic things like free speech.”

👉🏽'US government spending is set to reach $13.0 TRILLION in 2029, according to IMF estimates.
That would be almost DOUBLE the amount seen in Fiscal Year 2024 which came in at $6.8 trillion.
To put this into perspective, prior to 2008, government expenditures were 3 TIMES lower.
Meanwhile, the US posted its third largest budget deficit in history last month, reaching $1.8 TRILLION or 6.4% of GDP.
Currently, total federal debt sits at a new record of $35.9 trillion.' -TKL

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

Lyn Alden: 'Along with Steve Lee and Ren, I co-authored a paper that analyzes the process and risks of how Bitcoin upgrades its consensus rules over time, from a technical & economic perspective.'

https://github.com/bitcoin-cap/bcap/blob/main/bcap_v1.0.pdf

Thread: https://x.com/LynAldenContact/status/1854606667213603208
Great read!

Credit: I have used multiple sources!

My savings account: Bitcoin

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.

Do you think this post is helpful to you? If so, please share it and support my work with sats.

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

⭐ Many thanks⭐

Felipe - Bitcoin Friday!

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

The Latest Bitcoin & Macro news: Weekly Recap 11.11.2024

#zap 🧡 #weeklyrecap #nostr   #plebchain     #BTC    #Bitcoin     #plebchain    #grownostr    #stacksats  #bitcoineducation  #adoption

This is a long form article, you can read it in https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdenxy6rgdenxgunzv33uqqsv6


Bitcoin holders can use Bitcoin as collateral for fiat currency loans, avoiding the need to sell their Bitcoin. I envision this will happen in the future. We already see some glimpses of it. I think unchained, ledn are offering it.


This!🧠🧡♾ / 21 Million
https://m.primal.net/LzAi.jpg


The Latest Bitcoin & Macro news: Weekly Recap 04.11.2024

If you rather want to read the long format, including charts/pictures, outside of Nostr, click here:

https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdenxqurgv3cxycnyvfhwycjs2

On Nostr: without the charts/pictures:
nostr:naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdenxqurgv3cxycnyvfhwycjs2

Do you think this post/blog is helpful to you?
If so, please share it and support my work with a zap.

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

⭐ Many thanks⭐

Felipe - Bitcoin Friday!

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃


# 🧠Quote(s) of the week:

'If you made $500,000 per day, every single day since the Great Pyramids were built, you would have less than half of what the US Gov has borrowed since January 2024.
Opt-out. Buy Bitcoin' -BitcoinTeddy

If Trump wins, you’re going to want to own Bitcoin. If Harris wins, you’re going to want to own Bitcoin.

## 🧡Bitcoin news🧡

Let me start this week's Weekly Recap with the upcoming election.

Whether Kamala Harris or Donald Trump wins the election, it doesn't matter. The only thing we know for sure will happen is that the debt (ceiling) will grow.

The scariest thing to happen on Halloween this year? The US Treasury added a mind-boggling $105 billion to the national debt in a single day on the 3rd of November, and the total now stands at $35.95 trillion.

So with the upcoming election, everything changes, but nothing changes.
They all print, print, and print. Whoever is in charge, can not resist the urge to kick the can down the road and steal from future generations.

'There is no red.
There is no blue.
There is the State.
And there is you.' - WalkerAmerika

[](https://image.nostr.build/267d2e759a14e1ba30df6126c6e73abcb481783da2aa5983b5d6b98c75706e54.jpg)

If Trump wins, you’re going to want to own Bitcoin. If Harris wins, you’re going to want to own Bitcoin.

On the 29th of October:

➡Bitcoin just reached a new ATH in the Shitcoin called Euro.

➡3.161 BTC. That's the amount of Bitcoin that didn't end up in a Pool wallet today, or a Wall Street miners wallet, or an ETF.
One out of 144 blocks mined today went to a sovereign individual who constructed his or her own block using their own node and hardware.

Zero middlemen... great thread. Worth your time: https://x.com/JStefanop1/status/1851080807747551476

Vires in Numerus!

➡Florida's Chief Financial Officer urges the State Board of Administration to add BTC to the Florida Growth Fund.
The states are coming, brace yourself.

➡+$76m Bitcoin leveraged shorts got liquidated overnight. Rekt! Don't do leverage people!

➡Dennis Porter and his team SatoshiActFund is doing God's work:
"I can confirm that for the first time in US history, a Democrat lawmaker in a Democrat trifecta state will introduce legislation to defend the rights of Bitcoiners.

This is a key move that will redefine the political movement for Bitcoin for years to come.
Bitcoin is in alignment with American values like freedom and equality. Americans from both sides of the aisle deeply understand the potential of Bitcoin to provide for a more prosperous future.
As we enter the 2024 election, it is more important than ever that Bitcoin maintains its position as a non-partisan technology.
For the USA to greatly benefit from Bitcoin, both sides must embrace the technology which is why the news of ‘Bitcoin Rights’ making its way through a deep blue state is so important.
Extreme partisan rhetoric seeks to pit Americans against Americans. Neighbors against neighbors. Bitcoin is a tool that can bridge the political divide and unite our country.
The future is bright when we pursue a world where Bitcoin is used as a tool for unity and peace. More news on this will continue as we enter 2025."

➡Just last week, Charles Schwab gave MicroStrategy the worst possible equity ranking of F.

Meanwhile, MSTR is up nearly 20% in the last 5 trading days, and MicroStrategy is over $8.4 billion in profit on its Bitcoin position.

On the 30th of October:

➡BlackRock’s Bitcoin ETF took in $599 million today as they bought 8820 Bitcoin. Madness

'BlackRock’s Bitcoin ETF has surpassed $30 billion in assets in record time. The fastest-growing ETF in history' -Bitcoin Magazine

➡MicroStrategy announces intention to raise $21b of equity and $21b of convertible debt.
One word: CONVICTION!
[](https://image.nostr.build/6f99d7c08ddc0090c19257d96e81f4d0d16e8d58086f6c3ed18174b538310d7e.jpg)

Saylor wants to buy $42 billion in BTC over the next 3 years. At current prices, that works out to ~577,160 BTC. Only ~492,750 BTC will be issued over the next 3 years. Hello, supply shock! You have no idea how high we are going.

➡Other companies have lettuce hands:

Reddit sold the majority of its Bitcoin before BTC started pumping in October — SEC filing.

On the 31st of October:

➡Massive net inflows this week, US Spot ETFs now hold over 1 million.

➡MicroStrategy is now worth $4.8 Billion more than Coinbase.

Let that sink in:
MicroStrategy is a company that changed from making software to buying BlTC0lN in 2020. They own 252,220 BlTC0lN worth $17 billion, which is 1% of all Bitcoin that will ever exist.

MicroStrategy's stock has gone up 1,500% since 1999, beating Microsoft's 1,460%.

Meanwhile, look what happened to Coinbase after they announced their stock buybacks instead of buying Bitcoin as a treasury reserve asset. Classic!

[](https://image.nostr.build/682152e20a8bdd0b5f5450482764cfa0438d128e4ac1aa1605be6fd6a01c0b1b.jpg)

➡US Treasury releases report on how stablecoins increase the demand for US debt.

On the 1st of November:

➡'Bitcoin up 10% in October.

When September and Oct have been green, Bitcoin has continued going up for the rest of the year about 31% on average.
That would push Bitcoin to $91,000 by the end of this year.' - Bitcoin Archive

➡The Central Bank of Argentina (BCRA) began to artistically display Bitcoin miners and other mining machines today.

It is the first Central Bank in the world to do so.

We know that at least 5 countries are mining Bitcoin with government resources.
El Salvador, Bhutan, UAU, Ethiopia and Argentina.

➡Metaplanet has been the best-performing stock year to date in Japan. I wonder why!?

➡ Bitcoin hash rate going absolutely ballistic. Bitcoin is by far the most secure decentralized Network on planet Earth.

➡Short-term holders panicked as $BTC dropped below $70,000, and over $2 billion was sent to exchanges at a loss, the most since the Yen carry trade unwound when Bitcoin fell to $49K. Freaking lettuce hands.

➡Strive Asset Management, co-founded by Vivek Ramaswamy, announces it’s embracing Bitcoin in Texas.
Managing $1.7B, Strive reports a core part of its business moving forward will be “integrating Bitcoin into standard portfolios of everyday Americans.”

➡Florida holds $800 million in crypto-related investments - Florida State CFO

On the 3rd of November:

➡'Bitcoin always dumps right before the U.S. elections.
But look at what happens next' -CryptoRover
[](https://image.nostr.build/e5308d709da27949c58d519c39423d7312a0b09b737d1261e4b87b0eabea25ca.jpg)

As we have seen before. The Shake phase: Push up, shake out, break out.

➡Cartwright, a multi-billion dollar UK pension fund, just announced a 3% Bitcoin allocation.
As a percentage, this is 30x higher than the Wisconsin Pension Fund's allocation, and the largest allocation of any Sovereign Fund in the world so far.

Source: https://corporate-adviser.com/cartwright-calls-on-uk-institutional-investors-to-back-bitcoin/

➡ Europe's largest telco Deutsche/T-mobile started mining Bitcoin using surplus renewable energy! The move monetizes surplus renewable energy and helps stabilize the grid.

The convergence of energy, finance, and Bitcoin, once a theory, is now starting to play out.

Patrick Hansen: "If successful at scale, it could be a game changer for Germany's energy transition and serve as an alternative to energy storage or the conversion of excess energy to gas (both in their early days and not without their challenges).

In 2024, renewable sources accounted for around 65% of Germany's electricity generation. Challenges with surplus energy have led to negative electricity prices at times, even requiring Germany to pay other countries for excess power.

This is not a small actor chasing a headline. Deutsche Telekom is the largest telecom provider in Europe with a 40% market share in mobile services in Germany. Deutsche Telekom has been running various validator nodes for other proof-of-stake networks, and a bitcoin node for quite a while too."

On the 4th of November:

➡$725 billion Bernstein predicts Bitcoin to hit $200,000 by 2025, regardless of the US election outcome.

➡State of Michigan pension fund still HODLs its $7 million in Bitcoin ETFs, SEC filing reveals

## 💸Traditional Finance / Macro:

On the 30th of October:

👉🏽 Charlie Bilello:
"1. Stocks: all-time high
2. Home Prices: all-time high
3. Gold: all-time high
4. Bitcoin: all-time high
5. National Debt: all-time high
6. Core CPI Inflation: >3% for 41 straight months, the longest period of high inflation since the early 1990s
7. Fed: cutting rates again next week"

On the 1st of November:

👉🏽Market wiped out almost $1 TRILLION from US stocks.

On the 2nd of November:

👉🏽Warren Buffett's Berkshire Hathaway now holds a record $325.2 BILLION of cash.
This cash balance alone is larger than the market cap of all but 27 public companies in the world.

## 🏦Banks:

On the 28th of October:

👉🏽More like $2.5 trillion worth of toxic CLO products + U.S. Treasuries that are deeply underwater.

Financelot on the 25th of October: 'The Federal Reserve's emergency BTFP dropped by $7 billion this week, with only $59 billion remaining.
In 5 weeks BTFP will be $0, pulling all remaining emergency liquidity away from struggling banks. Thus completing the Federal Reserve's rug pull on the financial system.

## 🌎Macro/Geopolitics:

On the 28th of October:

👉🏽 'Market Interest Rates are surging as inflation expected to skyrocket again!'
'The US 10-year yield is at 4.29%... 1968 all over again where no one wants to buy U.S. Treasuries. Interest rates are about to double to 9%' - Financelot

Something to consider is the shift in de bond market. Investors are selling off long-term bonds in favor of equities or other riskier investments, resulting in bond prices falling, and yields rising. If we are going to reach that 9%, personally I don't think so. At the moment inflation isn't as extreme + the debt is way too big to let inflation run high just like in the 60's and the 70's.
[](https://image.nostr.build/7553d91c7eb870e2f31b7cbe6b00622074653961678eaac299edcdbc7008d02b.jpg)

👉🏽 Last week I shared how German car manufacturer Volkswagen is for the first time in its 87-year history planning to close production sites in its home market.
They will close 3 manufacturing plants in the upcoming months.

'The number of state workers in Germany is going up, but with accelerating deindustrialization, the unemployment rate is also going up and reached 6%.
However, 6% do not include 5,5 Million long-term unemployed on welfare payments, true unemployment rate is 18%.'

Now let's dive into the numbers. Arbeitslosenquote is 6% with ~2.79 Million people. Then you have 5.5 million people ALG II or Bürgergeld you are not in the unemployment statistics. Implied with 6% is a workforce of 46.5 Million people. Add 5.5 long term unemployed people -> 52M -> (2.79+5.5)/52 =~15.9%. Not quite the 18% as stated by Michael A. Arouret, but still quite high.
[](https://image.nostr.build/8310b9eaa98c7e6c99ff586ec2beeb9315cfae203cc56526c6fa3e494bf6ec29.jpg)

On the 29th of October:

👉🏽'The market is getting even more concentrated:

The market cap of the largest US stock is now ~750 TIMES larger than the 75th percentile stock, near the most since 1932.
Over the last 8 years, this difference has TRIPLED.
Furthermore, the market is currently even more concentrated than it was during the 2000 Dot-com bubble.
As seen below, the largest US stock in 2000 peaked at ~6000 TIMES larger than the 75th percentile stock.
The only other time that current levels of market concentration were seen was during the Great Depression.'-TKL

👉🏽'Another day, another record high for gold which is up $225 since the Fed rate cut a month ago, and just $225 away from $3000. It is also up 11 of the past 14 days.' -ZeroHedge

👉🏽Jeroen Blokland: "Many assets, including (quality) stocks, physical gold, and Bitcoin are flying this month. But not bonds! Global Government Bonds (hedged, EUR) are down nearly 2% this month, increasing this year's loss. And this is without taking inflation into account. Should you have stuck (again) to the outdated 60-40 portfolio (60% equities, 40% bonds) narrative, or something similar, your relative decline in purchasing power to investors that got rid of bonds and bought scarce assets (like gold and Bitcoin) is (again) massive! What is left to argue against diversifying beyond equities and bonds?"

Just to elaborate on the above:
[](https://image.nostr.build/5c119b7ee9745db5dcc0597d52f7109ff372ee3d5480f67f371101b99c1a6b50.jpg)

👉🏽China is working on a $1.6 TRILLION debt stimulus to boost the economy - Reuters

👉🏽The US Treasury: 'We expect to buy up to $30BLN in off-the-fun securities for liquidity support.'

Something's brewing. Print money to buy your own debt. Like using your credit card to pay the same credit card bill.
And that something is: FED REVERSE REPO USE FALLS TO $155B FOR FIRST TIME SINCE 2021
Down $46BN overnight. Market about to find out what real tightening is. Normally when this money market fund liquidity leaves RRP it goes into U.S. Treasuries, driving yields down. Instead, the U.S. 10-year yield rocketed to 4.365% this week.

On the 31st of October:

The pound is falling - the biggest fall in more than 18 months.
On top of that:

👉🏽"Average 5-year yield since 2020 2.0%. But if you were lucky enough to buy a 5-year bond 5 years ago and kept it to maturity, your yield = return would have been 0.50%.
Average inflation since 2020: 4.6%. In the case of the bond bought 5 years ago and keeping it to maturity, the cumulative inflation drag is 24%!
Any bond decision in the past 5 to 10 years will result in the same result: a negative real return.' -Jeroen Blokland

On the 1st of November:

👉🏽'The US economy adds 12,000 jobs in October, BELOW expectations of 106,000.
The unemployment rate was 4.1%, in line with expectations of 4.1%.
This marks the lowest number of US jobs added since July 2021.

Again a DISASTROUS jobs report. And the prior two months' job gains have been REVISED DOWN BY 112,000.
Manufacturing jobs loss: 46,000.
Manufacturing jobs have declined in 4 out of the last 5 months by a total of 88,000.

👉🏽 'Despite talks of de-dollarisation, America remains (by far) the world's financial hegemon
• US stock exchanges capture more than half of global free-float market capitalization. (hence overvalued)
• US share of global stockmarket is 2.3 times its share of global GDP — the highest-ever ratio' - Agathe Demarais

On the 3rd of October:

👉🏽Germany will have the second-lowest public investment ratio of all EU countries in 2025 (EU Commission forecast).

Shouldn't addressing the underinvestment problem be of higher priority for finance minister Lindner than cutting taxes for corporations and high-income earners?
Unfortunately, the Netherlands isn't far off either. The common problem of the EU is insufficient investment.
[](https://image.nostr.build/87398d3116d51650f1674f05d137428acbe11507a37077821a1c6cc1b155c782.jpg)

👉🏽'Federal government spending spiked 9.7% in Q3 2024 from the previous quarter, marking the largest jump since Q1 2021.

This was driven by a 14.9% jump in defense expenditures, the largest jump in 21 years.
Since 2020, government expenditures have risen 30% and hit a new record of $5.04 trillion.
Federal spending has been one of the largest contributors to GDP growth over the last 2 years.

The government has now contributed to economic growth for 9 consecutive quarters, with Q3 posting the largest addition over the past year.
Government spending is at crisis levels.' -TKL

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

Lyn Alden's  October public newsletter is available now:

https://lynalden.com/october-2024-newsletter/…

It discusses four macro catalysts that she will be monitoring in the year or so ahead.

Four Major Macro Catalysts to Watch:
1. U.S. Election (Late 2024)
2. Debt Ceiling (Early 2025)
3. Expiring Tax Cuts (End of 2025)
4. Bank Lending Trends

Great read!

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. (Please only use it till the 31st of October - after that full KYC)

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.

Do you think this post is helpful to you? If so, please share it and support my work with a zap.

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

⭐ Many thanks⭐

Felipe - Bitcoin Friday!

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

The Latest Bitcoin & Macro news: Weekly Recap 4.11.2024

This is a long form article, you can read it in https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdenxqurgv3cxycnyvfhwycjs2


The Latest Bitcoin & Macro news: Weekly Recap 28.10.2024

If you rather want to read the long format, including charts/pictures, outside of Nostr, click here:

https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdenxqerxdfcxqcrxv35yat9g3

On Nostr: without the charts/pictures:
nostr:naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdenxqerxdfcxqcrxv35yat9g3

Do you think this post/blog is helpful to you?
If so, please share it and support my work with a zap.

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

⭐ Many thanks⭐

Felipe - Bitcoin Friday!

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃


# 🧠Quote(s) of the week:

'It should be clear in 2024 the final lines have been drawn on Bitcoin.
Its central banks and their collaborations… the IMF, World Bank, BIS… their job is to maintain central control of fiat creation vs the rest of the world who are sheltering from its agenda.
This includes corporations, commercial banks, the rich, the poor, and you.' - Willy Woo

## 🧡Bitcoin news🧡

Last week I shared my opinion on the latest anti-Bitcoin ECB paper.
Now we have a full Academic Rebuttal to the anti-Bitcoin ECB paper officially published.
Read the full rebuttal here: https://www.murrayrudd.pro/challenging-bias-in-the-ecbs-bitcoin-analysis/

On the 21st of October:

➡Bitcoin hash rate hits all-time high. The Network has never been more secure than it is now.

➡Bitcoin open interest exceeds $40 billion for the first time in history.

On the 22nd of October:

➡Billionaire investor Paul Tudor Jones says, “All roads lead to inflation. I’m long gold. I’m long Bitcoin."

Now why is this statement important:

"I want to own zero fixed income... I probably have some basket of gold, Bitcoin, commodities, and Nasdaq.", "The playbook to get out of this (debt problem) is that you inflate your way out."

The US fixed-income market is ~$50T. Fixed income in fiat during rapid debasement = fixed debasement.
If just a small portion of the market agrees, trillions will be leaving fixed income and looking for a new home... like Bitcoin.

Translated: Bonds will not protect you from the severe inflation that is coming. Bitcoin will.

➡A very informative report was released on this day.

The first report covers how Bitcoin Core development is funded. Part 1 covers the organizations that raise and distribute funds to core devs.

You can download the report [here](http://1a1z.com/fund.html).
Troy Cross: "Bitcoin is a $1.4t asset maintained and supported by only 41 devs funded by 13 organizations and a donation-heavy budget of $8.3m."

➡Get 3.8% interest (paid in Bitcoin) on the cash sitting in an FDIC account at River… mind-blowing. Why don't we have that here in the EU? Not sure if I would use it, but still I would like to have the optionality.

'…Interest is generated on *cash* held at River through our banking partner and FDIC insured up to $250k, your Bitcoin is NEVER put at risk and is held in 100% reserve custody with proof of reserves (https://river.com/reserves).

See disclosures here: https://river.com/bitcoin-interest#disclosures' -River

For the U.S. readers of the Weekly Recap. Think of the tax implications, where does the yield coming from, etc.

On the 23rd of October:

➡ $725 billion Bernstein predicts Bitcoin will hit $200,000 in 2025, calling the forecast “conservative.”

➡Bitcoin hashrate and the difficulty is skyrocketing. It has never taken more work to find the next Bitcoin block.

➡As mentioned last week, Bitcoin whales are accumulating heavily, just like they did in 2020, right before Bitcoin went parabolic.

➡Apparent demand for Bitcoin has increased by over 200,000 BTC in the past month, reaching its highest point since April 2024, according to data from ETC Group.

➡ 'Metaplanet has concluded its issue of Stock Acquisition Rights, raising a total of ¥10b (~$65m) through full exercise.

As of October 23, Metaplanet holds 861.38 Bitcoin, acquired for ¥8.022B, with no outstanding debt.' -Dylan Leclair

➡[](https://image.nostr.build/59042c85bd616764fc4a0d4b3ccfe196bfbeab096955cd93c6a90eb1f05aac61.jpg)

'The chart shown on Preston Pysh's YouTube channel from River is quite an eye-opener. Great job, River team! I had a hunch, but it's great to see visual confirmation that, in the big scheme of things, Bitcoin is still largely in the hands of retail, while ETFs are just a tiny slice—even though they’ve been buying billions.

This will likely shift as the price rises, but I really hope retail continues to hold a large share. It's a unique case in asset history—most other assets are 70%-80% owned by institutions who get to buy first.' - Luis Marques

That chart really puts things into perspective! It's fascinating to see retail holding such a significant share of Bitcoin.

➡Denmark is considering taxing unrealized gains on Bitcoin and crypto, with a bill to be tabled in January. Danes who own Bitcoin would be taxed at 42% on value increases and decreases every year, regardless of whether they have sold or not. If passed, would start Jan 1, 2026. As mentioned in last week's Weekly Recap, governments are in full attack mode.

'Taxing unrealized gains on Bitcoin is a slippery slope. It punishes holders for paper profits they haven’t yet realized, introducing unfair volatility risks. Bitcoin is about financial sovereignty and freedom, such measures undermine its principles. Denmark should reconsider before stifling innovation and adoption.' - Assis Hodler

On the 24th of October:

➡El Salvador President Nayib Bukele donated 2 bitcoins worth $133k to help raise money to build 1,000 schools in Honduras.

Tim Draper predicted El Salvador's Bitcoin journey would vault it into the ranks of the world's wealthiest nations. “Bitcoin hits 100k, they’ll be able to pay off the IMF and never have to talk to them again.”

➡In their latest SEC filing, Microsoft disclosed that “Assessment of Investing in Bitcoin” has been proposed as a voting item for the December 10 shareholder meeting.
However, the filing notes that “the Board recommends voting against this proposal.”.
[](https://image.nostr.build/97728f7152d94b52dd69a172460a4652303d997078ff78d53d391158f771dc71.jpg)

The funny thing is if you read the SEC filing, pages 78-79:

"Microstrategy – which, like Microsoft, is a technology company, but unlike Microsoft holds Bitcoin on its balance sheet – has had its stock outperform Microsoft stock this year by 313% despite doing only a fraction of the business that Microsoft has. And they’re not alone. The institutional and corporate adoption of Bitcoin is becoming more commonplace. Microsoft’s second-largest shareholder, BlackRock, offers its clients a Bitcoin ETF." Guess who Microsoft's second-largest shareholder is? Guess who made the Bitcoin ETFs happen?  I will give you a hint...it starts with Black and ends with Rock.

[Sec filling](https://www.sec.gov/ix?doc=/Archives/edgar/data/789019/000119312524242883/d858775ddef14a.htm)

Bit Paine: 'How long until it is considered a breach of fiduciary duty to shareholders to store your company’s profits in rapidly debasing paper rather than Bitcoin?'
[](https://image.nostr.build/9778d50704bbb0ba23ae9bd414b06d1b68fa22b3530377305beb447570a271b4.jpg)

➡Wicked: Addresses with less than 1 Bitcoin only account for 7.2% of the circulating supply. How does this make you feel, anon?

➡'The official text of the 2025 Budget Law, signed by the President of Italy, has been presented. The text explicitly includes the increase in the rate of Bitcoin capital gains to 42%.
The law will now be debated and potentially amended in the Italian parliament.' -Bitcoin News

➡'The state of Pennsylvania has passed ‘Bitcoin Rights’ in the House by a sweeping majority. Both Republicans and Democrats united together to pass the bill. Pennsylvania is poised to be the most important state in the ‘24 election & this bill is poised to play a role.'- Dennis Porter

➡Madness! A solo miner just mined a block worth 3.329 Bitcoin worth $222,455.
[](https://image.nostr.build/b05e59a113f7b9238bbd21ecea89b65c99c7699a726e75df161366c31c77ae3a.jpg)

On the 25th of October:

➡ BlackRock now holds 399.356 Bitcoin worth $27.1 billion.

➡FORBES: "It’s hard to imagine that some form of game theory won’t play out when one or two central banks come forward to say they’ve followed El Salvador’s lead in holding bitcoin as a reserve asset, especially if one of those countries is the United States,"

➡ Bitcoin whales (addresses with 100+ BTC) increased by 1.9% in the past two weeks, while, wallets holding less than 100 BTC decreased by 0.1%, suggesting whale accumulation, is historically bullish.

➡Emory University disclosed in SEC filings that it owns over $15 million in Grayscale’s mini Bitcoin ETF, making it the first university to invest in BTC

On the 26th of October:

➡Tether CEO confirms their reserves hold a total of 82,454 BTC and 48.3 tons of gold.

On the 27th of October:

➡The Kingdom of Bhutan now owns 13,380 Bitcoin worth $905 Million.
Lyn Alden: 'Bhutan has a lot of hydro energy, so they’re just out here quietly mining bitcoin with it and stacking it at the sovereign level.'

On the 28th of October:

➡Metaplanet buys another ¥1.6 billion worth of Bitcoin. They now own over 1,000 BTC.
"Metaplanet now owns more than 1K BTC, making it one of the largest corporate holders of Bitcoin in Asia," says Metaplanet CEO Simon Gerovich.

➡2022: Russia's central bank wanted to ban Bitcoin and mining.
2024:
- Legalises Bitcoin and crypto mining in Russia
- Ready to approve 2 cryptocurrency exchanges
- Sovereign Wealth Fund investing in Bitcoin mining across BRICS nations
- Considers settling trade-in

➡Three new BRICS nations are mining Bitcoin with government resources: Argentina, UAE and Ethiopia - VanEck

➡"We have a model that assumes that by 2050, Bitcoin becomes a reserve asset that's used in global trade and is held by Central Banks at a modest 2% weight - with that model we arrive at a $3 million price target for Bitcoin" - VanEck's Mattew Sigel

Let's end the Bitcoin segment with a banger:
➡An individual solo mined a Bitcoin block using their own hardware—an Apollo running at 6-10 TH/s, a self-hosted node, and custom stratum software.
A single individual constructed their own solo block and submitted it to the network using their own hardware.
[](https://image.nostr.build/03c39cd606bdfc1b1899b4dbac60294caab7815c2ee594888695382822da36b1.png)

FutureBit (Apollo): Today the first Independent Sovereign Bitcoin Solo block in over a decade was just mined! What a historic moment for self-sovereignty, censorship resistance, and freedom! One of our Apollo devices, which hosts its own plug-and-play full node and stratum solo server just submitted a solved solo block that was accepted by the network.

Today over a decade of our work has just manifested itself on the blockchain.
Over a decade ago almost all blocks were mined in this manner, the software to mine blocks ran on a single piece of software that ran the full node and miner. A single anonymous computer would find every block on the network.
This quickly changed when ASICs were born, the node, miner software, and mining hardware split off from each other and became very fragmented.

Today most blocks are submitted by centralized custodians and pools who select which transaction is included in the next block. The vast majority of hash rate is controlled by these pools and a false narrative over the last decade pushed small miners and independent pools out.

Today this changes. It proves free, censorship-resistant, and independent blocks can be found by anyone hosting their own node and stratum solo server.
Today marks the beginning where everyday people take back control of the Bitcoin blockchain that was meant for the people and by the people!

Vires in Numerus!'

## 💸Traditional Finance / Macro:

On the 23rd of October:

👉🏽Best year of the century for the S&P 500.

On the 25th of October:

👉🏽'Today's rally puts the S&P 500 officially up +40% over the last 12 MONTHS.
This is a larger 12-month gain than ANY annual return in the S&P 500 dating back to 1954.
How did a generational rally occur during times of historic uncertainty?' -TKL

## 🏦Banks:

👉🏽 No news

## 🌎Macro/Geopolitics:

On the 21st of October:

👉🏽'US net interest costs as a share of GDP are set to reach 6.3% by 2054, the highest on record.

This will be more than double the 3.1% projected for the Fiscal Year 2024.
To put this into perspective, interest costs will nearly triple the government's average historical spending on R&D, infrastructure, and education combined.
Interest payments have reached $1.1 trillion over the last 12 months, exceeding defense spending for the first time.

At the current pace, interest will soon be the largest expense in the Federal budget, surpassing Social Security.' -TKL

On the 22nd of October:

👉🏽The U.S. National Debt has increased by $338 BILLION over the last three weeks.
It now stands at $35.8 TRILLION. That’s, the $35,8 trillion, $103,700 of debt for every American. This is unsustainable.

Keep in mind:
Powell admits that "in the long run, the US is on an unsustainable fiscal path... the debt is growing faster than the economy"
Reporter: "I have a sense that worries you very much"
Powell: "Over the long run, of course it does. We are effectively borrowing from future generations. It's time for us to get back to putting a priority on fiscal sustainability and soon better than later."

Never gonna happen!

On the 23rd of October:

👉🏽The United States has approved $20 billion in loans for Ukraine today.
Let's be honest. As Ukraine itself has a rating of 'Extremely Speculative' by Moody's and 'In Default' by S&P and Fitch, perhaps this 'loan' of $20 billion would be more appropriately classified as a 'gift'. - James Lavish
Spot on by Lavish, It will never be repaid. Like most of our governments 'loans'.
Now read the part above on the 22nd of October again. Fiscal sustainability...never gonna happen!

👉🏽Bank of Canada cuts rates by 0.50%
EU - 0.75% rate cut
USA - 0.50% rate cut
Canada - 1.25% rate cut
UK - 0.25% rate cu China - 0.25% rate cut
Denmark - 0.25% rate cut

👉🏽Argentinian tax collectors protest just days following Milei’s announcement he will be slashing their agency and replacing it with a smaller one.
Fascinating, no sane civilian is going to support a tax collector protest! Don't cry for fees, Argentina.

👉🏽It’s catastrophic to watch Germany in free fall at this pace!
[](https://image.nostr.build/8be9986cdd0a2d122050725d10bbed705dd14e192ce768460724c2ffa5e98348.jpg)
More on that below, VW part.

On the 25th of October:

👉🏽Argentina’s tax collectors continue to protest Milei’s decision to close their agency, chanting, “Milei is a traitor to our country.”

👉🏽Moody's cut France's credit outlook to negative from stable, citing fiscal deterioration. Debt Rating was affirmed at Aa2.
Fitch, Moody's, & Scope all have downgraded French debt's outlook.

This is a critical sentence in Moody's assessment:
'The current political situation for France is unprecedented, and it raises risks about the ability of the institutions to deliver sustained deficit reductions.'

Jeroen Blokland: 'Ongoing polarization is a crucial ingredient in what already is an unsustainable debt trajectory. There is no long-term plan or commitment, as voters will swing from left to right and vice versa. Newly chosen politicians will focus primarily on reversing their predecessors' 'terrible' policy decisions instead of focusing on what matters for society. France is a painful example of this, with a debt-to-GDP ratio already above 100%.'

👉🏽Central banks now hold 12.1% of global gold reserves, the highest level since the 1990s.

This percentage has skyrocketed this year and has more than DOUBLED over the last decade.
China, India, Turkey, and Poland have been the largest contributors to global central bank gold purchases.
Gold now accounts for 5.4% of China’s foreign exchange reserves and reached 2,264 tonnes in 2024, a new record.
Meanwhile, gold prices have hit 35 all-time highs year-to-date and rallied 33%. Global central banks continue piling into gold.' -TKL

On the 26th of October:

👉🏽'The US government is a $6.8 trillion economy, the 3rd largest in the world. Government spending is up 50% this decade -> The world's 3rd largest economy growing 9% annualized this decade, faster than India or China. And all funded by debt.' -ZeroHedge

On the 28th of October:

👉🏽Germany's decline: Volkswagen wants to close at least three plants in the country and cut tens of thousands of jobs.
"This Is Starvation": VW Union Head Warns 3 Plants Closing, Thousands In Layoffs, Amid Auto Crisis

'On Monday, Volkswagen's top labor leader works council chief Daniela Cavallo, who also sits on VW's supervisory board, was quoted by Bloomberg as saying three factories are slated for closures.'

https://www.zerohedge.com/markets/starvation-vw-union-head-warns-3-plants-closing-thousands-layoffs-amid-auto-crisis

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

Technology Powered Freedom - Bitcoin, eCash & Nostr | Alex Gladstein x Peter McCormack:

https://youtu.be/L5BVxfdYgNo?si=aBf6kQxqjjLemaEu

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. (Please only use it till the 31st of October - after that full KYC)

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.

Do you think this post is helpful to you? If so, please share it and support my work with a zap.

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

⭐ Many thanks⭐

Felipe - Bitcoin Friday!

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

The Latest Bitcoin & Macro news: Weekly Recap 28.10.2024

This is a long form article, you can read it in https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdenxqerxdfcxqcrxv35yat9g3


The Latest Bitcoin & Macro news: Weekly Recap 22.10.2024

If you rather want to read the long format, including charts/pictures, outside of Nostr, click here:

https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdej8ymrvvehx5crwdesf6chmk

On Nostr:, without the charts/pictures:
nostr:naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdej8ymrvvehx5crwdesf6chmk

Do you think this post is helpful? If so, please share it and support my work with a zap.


# 🧠Quote(s) of the week:

"At some point, people will realize that they have more to fear by not embracing this technology than by embracing it." - Michael Saylor

'The tail (Bitcoin) seems to be wagging the dog (ECB)... until the world realizes Bitcoin is the dog and central banks the tail.' -Tuur Demeester

## 🧡Bitcoin news🧡

Of course,  I will start this week's Weekly Recap with a short recap on the new ECB paper: 'The distributional consequences of Bitcoin.' by Jürgen Schaaf & Ulrich Bindseid aka the ECB BTC-gaslighters.

Why do I say gaslighters? Those two gentlemen already wrote a paper in 2022 "Bitcoin is basically dead". Just for your information, Bitcoin is worth 64% more today than when Jürgen & Uli made that statement. Ergo, ECB economists during the bear market: it's a worthless scam; ECB economists during the bull market: it's not fair.

Anyway, the new paper is a true declaration of war: the ECB claims that early Bitcoin adopters steal economic value from latecomers. “If the price of Bitcoin rises for good, the existence of Bitcoin impoverishes both non-holders and latecomers"

I quote Tuur Demeester: 'I strongly believe authorities will use this luddite argument to enact harsh taxes or bans' A bit below in the Bitcoin segment you will already see some first steps from governments to imply some harsh taxes on their (Bitcoin) citizens.
Now back to the paper and my view on it. Let me start with the following: It’s not our fault (ECB, no coiners) you didn’t take the time to study Bitcoin, the signs were everywhere.

How freaking cool is it and I know we are winning when the ECB is quoting people like Marty Bent, and Molly White, quoting from Bitcoin Magazine, excerpting Trump and RFK from Nashville, and matching price movements with electoral polls in its research papers. Madness!

This is one of the first times in history that those who weren’t supposed to get wealthy did. Bitcoin is leveling the playfield for everyone.
Lovely to see that the ECB, and in time the EU, will actively attack the only thing that can save this continent in decline.

Just to hit you with some logic. We, the public need a PhD - some ECB economist, to tell us that investing early in stocks, a house, art, or whatever makes it any different than investing early in Bitcoin. All they say is whoever enters an asset class earlier accrues more value than those who enter later, right? Again, like in every other asset class. For example, and I quote Ben Kaufmann: “If the price of Apple /Nvidia (you name it) stock rises for good, the existence of Apple/Nvidia (you name it) impoverishes both non-holders and latecomers.”
See how stupid that sounds? Can someone find any logic in this?

Bitcoin protects you from the fiat clowns at the ECB who inflate the currency into oblivion and then blame Bitcoin for people being poor. “protect yourself from currency debasement with Bitcoin.”
[](https://image.nostr.build/027ebcef8e35e02931f2ade30bf86dd9a7719f402fad7392d9d141f2ef41303c.jpg)

I truly hope the ECB is at its final stage of denial and is only one 'logical' leap away from realizing that they need Bitcoin on their balance sheet.
To finish this bit, the ECB is doing a great job.
Cumulative change has been just -40,57 % in about 20 years.
[](https://image.nostr.build/2164ac2999d87aafb164ed05104ccccb3a5af2f5f139bee1cacd28c1a932dc9c.jpg)

The real thieves are the people who can create fiat money out of thin air and dilute entire populations behind their backs.
Something the ECB and big banks perform as a primary function.
Bitcoin simply allows anyone to protect themselves from fiat debasement and reliably improve their standard of living.

Sam Callahan: 'Holders of worse money will lose out to holders of better money. Welcome to Reverse Thiers’ Law.
It’s not Bitcoin’s fault that these institutions destroyed their currencies.
Fortunately, anyone can opt into BTC. The choice has been yours since 2009.
Choose your money wisely.'

On the 14th of October:

➡Publicly-listed German company Samara Asset Group to buy Bitcoin using a $33M bond.

➡MicroStrategy stock has done over $3.2 billion in trading volume so far today.

➡$1.45 trillion Deutsche Bank partnered with Keyrock for Crypto and FX services.
Great thing that these huge, although DB is insolvent, legacy banks will dump billions into the space, and allow people with complex financial situations to own and utilize Bitcoin.

On the 15th of October:

➡Fed’s Kashkari: Bitcoin remains worthless after twelve years.
Almost the 6th largest monetary asset in the world...Blackrock and Fidelity beg to differ. Blackrock now holds 1.87% of the mined supply for its clients. Fidelity holds 0.93%. At a 1.35 trillion market cap 1.2 billion wallet addresses would say otherwise.
[](https://image.nostr.build/f2bc3859bc8261a7ee2a2994f027d104028272793ba66c67e53409fa5f80075e.jpg)

➡Metaplanet purchases an additional 106.97 $BTC.
They have purchased an additional 106.976 Bitcoin for ¥1 billion at an average price of ¥9,347,891 per Bitcoin.
As of October 15, Metaplanet holds ~855.478 Bitcoin acquired for ¥7.965 billion at an average price of ¥9,310,061 per Bitcoin.

➡Adam Back's company Blockstream raises $210 MILLION to buy more Bitcoin for its treasury and fund its other initiatives.

On the 16th of October:

➡93% of the Bitcoin supply is in profit. We can HODL longer than the market can remain irrational.

➡You know the day will come. Governments will use Bitcoin to get more taxes or do 'capital control' / 'exit control' / 'control of money'.

Italy's Deputy Finance Minister Maurizio Leo announced their plan to increase capital gains on Bitcoin from 26% to 42% because "the phenomenon is spreading."
Immoral tax on regular people. Rich people will have a workaround.

The main question on this matter is how many other states follow this path before other nations realize the benefits of embracing Bitcoin.
Work > Pay Income Tax > Invest your money > Take risk > Pay half your profits to them.

➡Bitcoin miner Marathon Digital Holdings has obtained a $200M credit line from an unnamed lender.

The loan is secured by a portion of the company's Bitcoin holdings and will be used for strategic investments and general corporate purposes.

➡ETFs have taken in $1.64 BILLION in just 4 days.

On the 17th of October:

➡BlackRock's spot Bitcoin ETF bought $391.8 MILLION worth of Bitcoin today.
Since launching in January, Bitcoin ETFs officially broke $20 BILLION in net inflows. This milestone took gold ETFs about 5 years to achieve.
Total assets now stand at $65B, another all-time high.
[](https://image.nostr.build/969742263b2ad16ee5754c1bccff550b1415aa176e07699b2c1b203705893340.jpg)

Bitcoin ETFs have taken in $1.7 BILLION in October so far.
• IBIT: $1.27b
• FBTC: $278m
• BITB: $126m
• ARKB: $29m

On the 18th of October:

Samson Mow, JAN3 Founder, speaks at the German Bundestag telling MPs about Bitcoin adoption for nation-states.
[](https://image.nostr.build/dbac36f2e6cf5928b5a481118b5ecb3f4ee33e9ff70a1dea234f5c13b8d635f6.jpg)

➡Whales have been buying Bitcoin aggressively at an unprecedented pace.

➡'When Bitcoin was $68k in 2021 the hash rate was 160M TH/s. Now it’s 661M TH/s. The network is 4x more secure. Large players are suppressing the price to stack at low prices, but they can’t fake the electricity numbers. Something will happen soon to the price!' -Bitcoin for Freedom

➡Morgan Stanley reveals $272.1M Bitcoin ETF holdings in SEC filing.

➡Although I don't like the guy, Anthony Pompliano, because of his BlockFi 'rocketship' endorsement, last week he was spot on as he destroyed a Fox Host who says Bitcoin is "way too volatile" to be used for savings. Pomp: "Since 2016, the average cost of an American house has increased by over 50% in dollars but has dropped 99% when measured in Bitcoin."

➡SEC approves NSYE options trading on spot Bitcoin ETFs.

On the 19th of October:

➡Bitcoin balance on exchanges hits a 5-year low.

On the 21st of October.

➡Now at the beginning of the Weekly Recap I already showed how central banks are losing their mind(ECB in that case), as they lose their grip and control of money.

I don't wanna be doom and gloom, I rather want to write positive news... but sometimes I really think it is important to show you what on earth is going on.

Multiple different government entities suggested making Bitcoin illegal because people would rather buy Bitcoin and have the price go up than buy bonds and lose purchasing power to inflation.  All I know is if the government doesn't want you to have something that's often a good reason to get some. Especially when it's something that simply stores value! I 100% get why governments are against it. It's a threat to their unchecked money printing!

On this day the following paper came out. A paper from the Minneapolis Federal Reserve states that "a legal prohibition against Bitcoin can restore unique implementation of permanent primary deficits." Without Bitcoin to contend with, they believe the debt can go up forever.

You can find the paper here: https://www.minneapolisfed.org/research/working-papers/unique-implementation-of-permanent-primary-deficits

Technically a much better paper than the ECB one. Unfortunately, I am not surprised about that.

This is a real piece of research that identifies the key issue: consumers are too smart to fund forever deficits.

All these papers coming out are too timely. They are coordinating something against Bitcoin...central banks are freaking out… can you smell the panic in the air?

ECB - Bitcoin is so much better than fiat it could go to $10 million and make fiat holders worse off (I don't make that up)
[](https://image.nostr.build/7161e7a6c553bb452db0c6a6c3bd01730f367dac98a0384c5f54857788d0f074.png)

FED - It's useless but we have to ban or tax the shit out of it so we can run deficits indefinitely

➡Japan’s Democratic Party of the People leader pledges to cut Bitcoin and crypto taxes if elected.  They will cut the taxes from 55% to 20% if the Democratic Party of the People wins the election.

➡BlackRock’s Bitcoin ETF is now the 3rd biggest ETF for 2024 inflows and the fastest-growing ETF ever!

➡'October's Bitcoin mining revenue has plummeted by 70% from its March peak, with miners generating less than 9,000 BTC so far this month.' -Bitcoin News

## 💸Traditional Finance / Macro:

On the 18th of October:

👉🏽 Investor's allocation to stocks hit 61%, the highest level in at least 40 years.
'This share has ALMOST DOUBLED since 2009 and is in line with the 2000 Dot-Com Bubble levels.

The median value of US consumers’ stock holdings spiked to $250,000 in October, the most on record.
Over the last 12 months, this amount has DOUBLED, according to the University of Michigan consumer survey.
In 2010, Americans' investments in single stocks, mutual funds, and retirement accounts were worth just ~$50,000, or 5 times less.

Now, equities account for 48% of US households' net worth, the highest since the 2000 Dot-Com bubble peak.' -TKL

And this all is mostly with retirement money.

## 🏦Banks:

👉🏽no news

## 🌎Macro/Geopolitics:

On the 14th of October:

Google agrees to buy nuclear power from Small Modular Reactors to be built by Kairos Power.

ZeroHedge: "First it was Amazon, then Microsoft, now Google telegraphs why the "next AI trade" will generate obnoxious amounts of alpha in the coming years by sending the same message: i) it's all about how all those data centers will be powered, and ii) in the future a growing number of data centers will be powered by small modular nuclear reactors."

Senior director for energy and climate at Google, Michael Terrell, said on a call with reporters that "we believe that nuclear energy has a critical role to play in supporting our clean growth and helping to deliver on the progress of AI."
Full article: https://www.zerohedge.com/markets/google-inks-deal-nuclear-small-modular-reactor-company-power-data-centers

As of 2024, there are three operational small modular reactors (SMRs) in the world, located in different countries:

1. Russia - Akademik Lomonosov, a floating nuclear power plant operated by Rosatom. It is located in the Arctic town of Pevek, Chukotka. This is the world’s first floating nuclear plant.

2. China - Linglong One (ACP100), developed by the China National Nuclear Corporation (CNNC). This SMR is operational at the Changjiang Nuclear Power Plant in Hainan province, China.

3. Argentina - CAREM-25, developed by the Argentine state-owned company CNEA (Comisión Nacional de Energía Atómica). This reactor is located in the Lima district, Buenos Aires province, near the Atucha Nuclear Power Plant.
These SMRs are being used to demonstrate the feasibility of small-scale nuclear power generation for diverse applications.

On the 13h of October:

👉🏽The US money supply hit $21.17 trillion in August, the highest level since January 2023.

This also marks a fifth consecutive monthly increase in the US money supply.
Over the last 10 months, the amount of US Dollars in circulation has jumped by a MASSIVE $484 billion.

In effect, the money supply is now just $548 billion below a new all-time high.
After a brief decline, the quantity of money in the financial system is surging again raising concerns about another inflation wave. - TKL

I won't worry about a recession or something like that, but more on the inflation and debasement part.

On the 16th of October:

👉🏽'Let‘s take a look at Europe‘s largest economies:
Germany - commits deindustrialization suicide
France - 6% fiscal deficit during good times despite highest tax burden in Europe
Italy & Spain - collapsing demographics, pensions and healthcare systems to follow.' - Michael A. Arouet

👉🏽In the last couple of months I have shared how the U.S. government did its revision on job reports and other data points.

Now the FBI "revised" violent crime data, reporting that instead of a 2.1% drop in violent crime in 2022, it was actually a 4.5% increase.
They missed 1.699 murders in 2022. What are a few murders among friends, innit?
'6.6 points of net swing. So basically took them 18 months to realize they had missed 1 in 15 violent crimes in the country.

Conveniently released after all debates complete + no future ones agreed.
Don't want to be this cynical, I really don't, but they aren't leaving me any room' - Pi Prime Pi

All government data is fudged it seems. From jobs to the economy, and inflation... It's all just made up.

"Oopsie whoopsie we made a fucky wucky!
And people (politicians) wonder why trust in institutions is cratering...

Just to give you another example...

'The US Treasury is supposed to release its Monthly Treasury Statement at 2 pm on the 8th business day of each month. We are now on the 13th business day of October and have still not received last month's report. No explanation or estimation, complete radio silence.' - James Lavish

On the 17th of October:

👉🏽ECB cuts interest rates again by 0.25 percentage points.

'The ECB cut rates and signals it is getting hastier to bring rates back to more 'neutral' levels.
It's funny how many investors argue that this time is different and that the ECB would take it easy or even refrain from rate cuts.
Eurozone GDP growth is going nowhere, not in the near term and definitely not in the long term. Official inflation numbers in all major Eurozone economies are below 2%, and France is making headlines every day concerning debt sustainability.
In the long term, interest rates will be low or negative when corrected for inflation, while bond volatility will increase.' - Jeroen Blokland

👉🏽Gold is back in record territory:

Even as markets price in a chance of a NO rate cut in November, gold just broke above $2700/oz.

The US Dollar has strengthened by 3% since September 30th and gold prices are STILL positive this month.
Bank of America warns that gold may be the last safe haven as US Treasuries face risks from surging national debt. We all know that it is not the last and best safe haven, got Bitcoin?

'The higher gold goes in EUR, the greater the % of Eurozone gold reserves as a % of total EZ reserves goes (the EZ marks its gold to mkt quarterly, like China & Russia, but unlike the US.) In extremis, this gives the ECB option of “QE Heavy” (print EUR, bid for gold)' - Luke Gromen
[](https://image.nostr.build/3298e35ca4b46aa9ce39154bb7c22b88e0f9735be75a5209fc9df38b73757712.jpg)

Gold is up 31% YTD, the best year since 1979.
Bitcoin is up 60% YTD, a casual year so far.

Gold for the central banks.
Bitcoin for the citizens.
Bitcoin wins and power returns to the people!

👉🏽 Half a trillion increase in US debt in a few days before the election.
The fiscal year ends in September. So in October, the US treasury injects liquidity. Still, crazy work to increase the debt by half a trillion.

https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny

James Lavish: 'Pure unadulterated reckless government spending and so an exponential rise in debt, requiring more units of debt to drive each unit of GDP. Madness.'

On the 18th of October:

👉🏽Last week I mentioned that China's CB launched a $70 billion funding program to stimulate the economy and the capital market.

But China is in a debt bubble:
'China’s debt-to-GDP ratio hit a jaw-dropping 366% in Q1 2024, a new all-time high.
Since the 2008 Financial Crisis, the ratio has DOUBLED.
To put this differently, for 1 unit of GDP, the Chinese economy has produced 3.66 units of debt burden.
Non-financial corporates have the highest ratio, at 171%, followed by the government sector, at 86%.
Households and financial entities' debt-to-GDP is 64% and 45%, respectively.
Stimulus won't solve China's debt crisis.' - TKL.

On the 21st of October:

👉🏽The US just recorded the 3rd largest budget deficit in its entire history.
The federal deficit hit a WHOPPING $1.83 trillion in Fiscal Year 2024 ended Sept. 30.
In other words, the government borrowed a staggering $5 billion A DAY.
This was only below the 2020 and 2021 pandemic years.

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

Technology Powered Freedom - Bitcoin, eCash & Nostr | Alex Gladstein x Peter McCormack:

https://www.youtube.com/watch?v=L5BVxfdYgNo

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. (Please only use it till the 31st of October - after that full KYC)

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.

Do you think this post is helpful to you? If so, please share it and support my work with sats.

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

⭐ Many thanks⭐

Felipe - Bitcoin Friday!

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

The Latest Bitcoin & Macro news: Weekly Recap 22.10.2024

This is a long form article, you can read it in https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdej8ymrvvehx5crwdesf6chmk


The Latest Bitcoin & Macro news: Weekly Recap 15.10.2024

If you rather want to read the long format, including charts/pictures, outside of Nostr, click here:

https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdej8ycrzwf48q6rxv35g337pn

On Nostr:, without the charts/pictures:
nostr:naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdej8ycrzwf48q6rxv35g337pn

Do you think this post is helpful to you? If so, please share it and support my work with a ⚡.

Enjoy and happy reading!🧡


# 🧠Quote(s) of the week:

'Bitcoin completed the stack.
Which is why you should probably stack Bitcoin.'- Anilsaidso

[](https://image.nostr.build/0fadac73cc7381397b454d7d60f2a0a866ac95aba96c53fcad69598d055c9e92.jpg)

## 🧡Bitcoin news🧡

On the 8th of October:

➡The US Supreme Court has declined to review an appeal over the ownership of 69,370 Bitcoin seized from Silk Road, allowing the government to sell them.
The U.S. Supreme Court declined to review a case concerning the ownership of 69,370 Bitcoin, worth $4.38 billion, seized by the government from the Silk Road marketplace. Battle Born Investments, which claimed rights to Bitcoin through a bankruptcy estate, had its appeal rejected after failing to convince lower courts of its claim. This decision clears the way for the U.S. government to sell the Bitcoin.
Sources: Cointelegraph

A smart move by the U.S. government. They are poised to sell the only truly limited-supply store of value asset in the world for something it can and will just print more out of thin air itself. Logic, innit?!

➡'YTD returns:

S&P500: +20.3%

Gold: +27.8%

Bitcoin: +48.2%

But if you only looked at Twitter, you’d think Bitcoin was performing the worst.
It’s doing just fine. People are impatient and greedy.' - Bitcoin Isaiah

➡Bitcoin rewards app Fold has filed an S-4 SEC IPO filing ahead of its planned merger with FTAC Emerald Acquisition.

If approved, Fold will be publicly listed on Nasdaq as "FLD."  - Bitcoin News

➡MicroStrategy holds more Bitcoin than the US government. Matter of fact, MicroStrategy is the world’s first Bitcoin Development Company.

'It holds ₿252,220 on its balance sheet and did $2.5bn in volume today.
JP Morgan is America’s largest bank.
It has almost $4 trillion of fiat assets on its balance sheet, and yet today it did just $1.5bn in volume.
This is only 60% of MSTR’s trade.
Saylor did more volume today than JPM and Coinbase (America’s largest crypto exchange) combined.
Let that sink in. MicroStrategy is beginning to make Wall Street’s biggest names look small.' - Bit Strategy

No S&P 500 company has outperformed MicroStrategy since they began stacking Bitcoin. MicroStrategy owns 252,000 Bitcoin.

Only 83 entities in the ENTIRE WORLD can own 252,000 Bitcoin. This means MSTR has achieved something only 82 other individuals, institutions, countries, etc. can achieve.
[](https://image.nostr.build/0577ccdf53d29ebb43bbd7e189c3f646bff1b70009b6ba2cc9597a8f38df46b5.jpg)

On the 9th of October:

➡German parliament member Joana Cotar says "With the right Bitcoin strategy you have the potential to transform a nation."  Inflation is "stealing money from the people every month, Bitcoin is going to fix this"

On the 10th of October:

➡On this day the Bitcoin Conference Amsterdam started.
I only will share the most important bit of the whole conference, fellow Noderunner & Suriname Presidential candidate Maya Parbhoe:
Suriname will be the next Bitcoin country!

I hope she will make it. She is a class act and with her determination, and passion for the people, but foremost her vision. I have no doubt she will lead the way and let Suriname thrive.
How I love being part of the Noderunners group. The cult within the CULT!
[](https://image.nostr.build/f55f062162350fecd66b8d98570a31477029577a208f3c8e496011e7349a8663.jpg)

➡$9.57 trillion Charles Schwab survey shows almost half of its respondents plan to invest in Bitcoin and crypto ETFs

➡'Ireland's Crime Bureau can't get access to drug dealer's $378m Bitcoin it "seized" in 2020. It has since gone up in value from $56m to $378.
Not your keys, not your ₿itcoin!' -Bitcoin Archive

➡'The SEC is suing Cumberland DRW, one of the largest crypto market makers, for selling assets like Solana as securities without registering as a securities dealer.' -Bitcoin News

1.5M BTC has been accumulated by whales (with >1K BTC on balance) over the last 6 months.
There's really nothing to discuss here. What have you done over the last 6 months?
[Source](https://finance.yahoo.com/news/bitcoin-whales-accumulate-1-5-131555275.html)
[](https://image.nostr.build/fa3f2e7b07a275e152a7a1f7c1c044dffcf7f5cc65c3b5cb8f7f954a53ae1c81.jpg)

On the 11th of October:

➡TD Bank has pleaded guilty and been hit with a record $3 billion fine for enabling drug cartel money laundering. Bank employees accepted bribes and overlooked blatant criminal activity by customers from Colombia and other regions.
Criminals prefer US Dollars. Bitcoin is an open, transparent monetary network.
I thought money laundering only happened in crypto…
Will never cease to amaze me that these giga-settlements in tradfi happen, barely make news, and Elizabeth Warren in the US or Paul Tang here in Europe doesn't call for all banking to be shut down because of how its medium of choice for money launderers. Fascinating, innit?

➡Metaplanet has purchased an additional ~108.99 Bitcoin for ¥1 billion at an average price of  ¥9,174,396 per Bitcoin.
As of October 11, Metaplanet holds ~748.50 Bitcoin acquired for ¥6.965 billion at an average price of ¥9,304,655 per Bitcoin.

➡Global Money Supply hits an all-time high of $107 Trillion. It’s just a matter of time until Bitcoin follows. Two weeks ago I shared a great article by Lyn Alden on this topic. You might want to read that.

➡Mt. Gox trustee postpones deadline to repay creditors by one year to October 2025, reducing sell pressure concerns for Bitcoin.

On the 12th of October:

➡El Salvador buys back $940 million of its outstanding debt to reduce its debt burden and take advantage of favorable market conditions.
The future of El Salvador is debt-free The IMF is in despair.

On the 13th of October:

Lyn Alden: Sometimes I make an asset class return chart specifically to show how poorly bonds performed over the past 5 years or whatever random timeframe, and instead it just accidentally shows how dramatically bitcoin outperformed everything.
[](https://image.nostr.build/864fd3aac35895bb57d22fbd4a5bf380a766275a043ec91a316a1b84f1ba258f.png)

➡ Bitcoin on exchanges just hit a 5-year low. However, there are still 2.5M Bitcoins that need to be withdrawn!

On the 14th of October:
➡I will end this Bitcoin segment with some quotes from Larry Fink, BlackRock CEO on Bitcoin.
"We believe Bitcoin is an asset class in itself."
"We're having conversations with institutions worldwide about allocations."
"Bitcoin will become as big as the US housing market" -- Larry Fink.
That market, the housing market, is currently 50 Trillion. Let's estimate 100 Trillion by 2040. That is 76x Bitcoin's 1.3 Trillion market cap.
In other words, Bitcoin is going to $ 5 Million.
Source: the most important person in finance on planet earth.

## 💸Traditional Finance / Macro:

On the 11th of October:

👉🏽'The S&P 500 is now up over 22% this year, marking the best year-to-date performance in 24 years.

This is already DOUBLE the average annual return since 1957.
In one year, the index has added a whopping $13 trillion in market cap.
If the current pace of the market rally continues, the S&P 500 is on track to record a 30.0% gain in 2024, the largest annual gain since 1997.
That also would mark the third-largest annual return since 1975, when the S&P 500 finished the year up 37.2%.' -TKL

## 🏦Banks:

On the 2nd of October:

👉🏽no news

## 🌎Macro/Geopolitics:

On the 8th of October:

👉🏽The Tax Foundation analyzed the Kamala Harris Tax Plan and concluded that it would result in the loss of approximately 800K full-time jobs, a long-run wage decline of 1.2%, and a long-run GDP of *negative* 2%.
Source: https://taxfoundation.org/research/all/federal/kamala-harris-tax-plan-2024/

'For the sake of completeness, the Tax Foundation is not blatantly partisan but its leaning is conservative and center-right. Still by its own findings Trump's economic plans would result in 684K job losses and 0.8% loss of GDP. Most estimates coming from other places are less favorable to Trump.'

Left, right...this is a feature of a system that requires billions of dollars in debt service.

👉🏽Hong Kong's Hang Seng index just crashed 9.4% today, posting its largest drop since 2008 and 2nd largest drop since 2000.
Over the last 3 weeks, China's stock market was up nearly 30% on stimulus announcements.

The full thread you can find here: https://x.com/KobeissiLetter/status/1843630549379981400

👉🏽Despite strong headline growth in GDP figures several people are struggling and working multiple jobs just to pay bills.
Millions of Americans are working multiple jobs to afford basic necessities.
'The number of people working MULTIPLE jobs in the US hit 8.66 million in September, a new record.
This is ~300,000 above the peak seen before the pandemic and ~600,000 above the 2008 peak.
Furthermore, the number of part-time jobs has jumped by ~3 million over the last 3 years to a near-record 28.2 million.
Concerningly, full-time employment has declined by 1 million since November 2023.
Multiple jobholders have been rapidly rising over the last few years as Americans are fighting record-high prices.' -TKL

👉🏽 Without a fiscal union the Euro is shaky and makes little sense long term.
But no country will give up its sovereignty to make a fiscal union. Especially not the rich/successful countries. The EU and Euro are failed projects.
'All currency unions in history based on common monetary policy only failed and disappeared. The Euro can only survive long-term if there was common fiscal policy, given political landscape in Europe it’s close to impossible.' -Michael A Arouet

[](https://image.nostr.build/a407c0e3c26b370ce34b95511779c89bb1b2c852b53acad848d2568a9acc844f.jpg)

It comes down to the question - are Northern countries (e.g. DE and NL) willing to pay for early retirement in France, or low tax morale in Italy?...
We all know the answer.

Anyway... socialism will never work though.

👉🏽In 2023 the wealth tax increase in Norway was expected to bring an additional $146M in yearly tax revenue.

Instead, individuals worth $54B left the country, leading to a loss of $594M in yearly wealth tax revenue. A net decrease of $448M+.
Capital moves where it's treated best. And so do people. That is because rich people don't pay taxes.

[](https://image.nostr.build/cc29435453ef278a88ce128142cca303c796aaa046e22cdf82c46cb44500c9c2.jpg)

The same thing happened in France when socialists increased the wealth tax in 2012. The most successful simply left.' -Michael A. Arouet

Just to show how bad things are in France. Within 15 years debt/GDP almost doubled. France is running a 6% fiscal deficit during good times despite the highest tax burden in Europe.

Without deep structural reforms, it will sooner or later face a debt crisis.
Great article by the economist: https://archive.ph/qrWcT

France stares into a “colossal” budgetary abyss.
A fragile new government must try to plug the hole.

On the 9th of October:

👉🏽The CBO (Congressional Budget Office) just released the estimated 2024 federal budget results. Adjusting for weekend payments, the actual 2024 expenses totaled $6.8T for a deficit of $ 1.83T. This is a ~12% deficit increase from 2023.
The US deficit reached $1.83 trillion in Fiscal Year 2024, or 6.4% of GDP, the largest deficit since 2021.

According to CBO data released Tuesday, this is $139 billion higher than in FY 2023 and ~$400 billion above FY 2022 levels.
This comes as government spending increased 10% year-over-year to $6.8 trillion.
The largest outlays were Social Security, debt interest payments, and Medicare at $1.5 trillion, $950 billion, and $869 billion, respectively.
Meanwhile, federal debt is up $2.2 trillion over the last year and hit a record $35.7 trillion this week.
US deficit spending remains at crisis levels.

On the 10th of October:

👉🏽The Fed's worst nightmare has begun:

1. Core CPI inflation rises to 3.3%, the first increase since March 2023
2. 258,000 people filed for unemployment this week, above expectations of 230,000. That is the highest reading in 16 months.
Once the September jobs report is revised sharply lower (as usually in 2023/2024), it will reveal the Fed's nightmare situation.
Rising inflation with rising unemployment. No bueno.

👉🏽Trump is leading Kamala by 9.4% on Polymarket, the widest gap since Biden dropped out.

Trump is even leading in Wisconsin and Michigan.

👉🏽China's Central Bank launches $70 BILLION funding program to stimulate the economy and capital market:
• Cut reserve req ratio, releasing ~1 trillion yuan
• Lowered key interest rates
• Reduced mortgage rates
• Issued 1 trillion yuan in special sovereign bonds
• 100B Yuan govt investment
• Child subsidies for families
By cutting the reserve requirement ratio and lowering interest rates, the government aims to boost liquidity and consumer confidence.

On the 11th of October:

👉🏽September PPI inflation RISES to 1.8%, above expectations of 1.6%. (first time since June), and last month's PPI inflation number was revised higher.
Both Core PPI and CPI inflation are now officially back on the rise.

On the 12th of October:

👉🏽'The Federal Reserve’s balance sheet declined by $66 billion in September to $7.05 trillion, the lowest since September 2020.

Since April 2022, the Fed has shrunk its portfolio of assets by $1.92 trillion.
This is 40% of the $4.80 trillion the central bank bought during the 2020-2022 pandemic response.
For the first time in history, the Fed is simultaneously reducing its balance sheet and cutting rates.
At the September Fed meeting, Fed Chair Powell emphasized that balance sheet reductions will continue.' -TKL

Great news! Meanwhile, though, the US money supply hit $21.17 trillion in August, the highest level since January 2023.

This also marks a fifth consecutive monthly increase in the US money supply.
Over the last 10 months, the amount of US Dollars in circulation has jumped by a MASSIVE $484 billion.

In effect, the money supply is now just $548 billion below a new all-time high.
After a brief decline, the quantity of money in the financial system is surging again raising concerns about another inflation wave.

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

Great interview with David Zell:

THE SEPARATION OF MONEY & STATE
Peter McCormack & David Zell discuss the political landscape surrounding Bitcoin & its role as an insurance policy for individuals & nation-states:

https://www.youtube.com/watch?v=y39I7iQUL6U

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. (Please only use it till the 31st of October - after that full KYC)

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.

Do you think this post is helpful to you? If so, please share it and support my work with sats.

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

⭐ Many thanks⭐

Felipe - Bitcoin Friday!

▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃▃

The Latest Bitcoin & Macro news: Weekly Recap 15.10.2024

This is a long form article, you can read it in https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdej8ycrzwf48q6rxv35g337pn


The Latest Bitcoin & Macro news: Weekly Recap 07.10.2024

If you rather want to read the long format, including charts/pictures, outside of Nostr, click here:

https://habla.news/a/naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdej8q6rzwfh8qcnjd3hm4zy59

On Nostr:

nostr:naddr1qvzqqqr4gupzq0ractzc0mkwq58mcevqnvtqn5vjqluzthtkw49ejp0fe2q9vs4gqqxnzdej8q6rzwfh8qcnjd3hm4zy59

Do you think this post is helpful to you? If so, please share it and support my work with a ⚡.

Enjoy and happy reading!🧡