Today’s edition is brought to you by Masterworks - Invest in blue-chip art today!
GM. This is Milk Road, the PEMDAS of crypto. We’re the equation that helps you remember all this shit.
Here’s what we got for you today:
- 2 things Bitcoin could learn from Ethereum 🥸
- Unpopular crypto opinions 🐦
- Bitcoin price prediction 👀
- Robert F. Kennedy holds $100K+ in BTC 🍪
Prices as of 8:30 AM ET.
BITCOIN NEEDS ORDINALS & ROLLUPS - VITALIK 🥸
Bitcoin & Ethereum are the yin and yang of blockchains.
One’s the OG, no frills, payments-focused network. The other is home to thousands of decentralized apps & NFTs.
Well, the founder of one just weighed in on the other…
That’s right folks, Vitalik Buterin (Ethereum co-founder) shared his thoughts on where Bitcoin is right now in a Twitter Spaces:
1/ Bitcoin Ordinals are good and reignited a “builder culture”
Ordinals have been a game-changer for Bitcoin.
It brought NFTs to the OG blockchain and gave developers a new “toy” to play around with.
As a result, we’ve seen ~16.4M Ordinals inscriptions. And in Q2:
- Bitcoin NFTs saw $210.7M in trading volume (a 2,834% increase from Q1)
- While Ethereum NFT trading volume dropped 38%
There’s also been a ton of popular projects (like Bored Apes) that dropped new collections on Bitcoin.
Images, videos, text, and even video games have all been inscribed on the Bitcoin blockchain.
All are use cases Bitcoin has never seen before…
…and that OG Bitcoiners are not fond of. (Here’s a live look at Bitcoin maxis over the last few months:)
But even though Bitcoin-maxis aren’t fully onboard, Vitalik believes Ordinals are good for the future of Bitcoin.
2/ Bitcoin should try scaling solutions, like Ethereum.
Bitcoin’s Achilles’ heel is its slow speed. But you could unclog it if you tack on “toll roads” that help push traffic through more easily.
That’s what ZK rollups do.
Optimism & Arbitrum are 2 successful ones that have made Ethereum speedier. (The former has processed 100M+ transactions.)
Vitalik pulled an Ahem, Bitcoin, you should be open to them.
Milk Road Take: We love Vitalik (AKA V-God), but we disagree with him here...
Comparing Bitcoin to Ethereum is like comparing milk to juice.
They have different use cases.
One is built as an alternative currency. The other is built for decentralized apps.
And that’s okay. That’s why here at Milk Road we believe the future is multichain.
(But either way, Vitalik had some bars for the Bitcoin Boys. And we’re adding “lack of builder culture” and “you can’t scale” to our list of disses.)
INVESTORS EARN 325% ANNUALIZED RETURN HERE (REALLY)
While the ultra-rich have been banking off this under-the-radar asset for centuries, a group of everyday investors just used it to rake in a whopping 325% annualized gain.
Sounds nuts? It definitely is. But it's also 100% true.
The asset was a sculpture offered by the fractional art investment platform Masterworks. After just 36 days, investors were able to profit for a 15.4% net gain, a triple-digit return on an annualized basis.
While it’s not common for Masterworks to get a profitable exit that fast, every one of Masterworks’ 13 exits has returned a profit to investors, netting proceeds from more than $45 million in sales.
Every offering is limited, and shares can sell out fast, but Milk Road readers can use this exclusive link to skip the waitlist.
See important disclosures at masterworks.com/cd
ALL THE BEST UNPOPULAR CRYPTO OPINIONS 🐦
Everyone has an “unpopular” opinion…
Pineapples should go on pizzas. Ice cream is a healthy breakfast choice. Socks & sandals are the epitome of fashion.
Well, recently everyone on Twitter has been giving their unpopular crypto opinions.
What’s your unpopular crypto opinion?
— Jason Choi (@mrjasonchoi)8:41 AM • Jul 8, 2023
Everyone & their mother had something to chime in with.
We rounded up the best answers here:
So we wanted to know…
What are some of your unpopular crypto opinions? Respond to this email and we'll share some of the best ones later this week!
BITCOIN PRICE PREDICTION 👀
Crypto investors are all wondering one thing…
What will Bitcoin’s price be at the end of 2023?
Some people look at graphs for signs. Others look towards the stars. A few hope the answer comes in a fortune cookie.
Well, we like to phone our friends - the Roaders. (AKA you.)
We asked. You answered.
Here are the results… drumroll...
- 72% think BTC will finish the year between $30K and $50K.
- 14% think BTC will finish the year <$30K.
- 14% think BTC will finish the year >$50K.
Overall, the Roader Nation is bullish.
We also asked about other stuff like what ETH’s price would be by EOY, investment strategies, how regulation would affect the markets, and more.
And we’re releasing all the results (10+ pages) tomorrow to our Milk Road Pro subscribers!
Wanna get in on the action? We’re offering a sweet deal: 50% off for the next 3 months (that’s just $10 a month to start.)
MILK & COOKIES 🍪
Robert F. Kennedy (pro-crypto presidential candidate) actually does hold Bitcoin, about $100K - $250K of it. He said in May that he wasn’t a BTC investor, but a spokesperson said he bought it after that comment.
The team behind StepN (move-to-earn game) is launching a new crypto game called Gas Hero. It’s a multiplayer online game that’ll use StepN’s GMT as its token when it launches.
Six Republican congresspeople want the SEC & DOJ to investigate Prometheum’s ties to China. The company became the first regulated crypto platform in June.
MILKY MEMES 🤣
HIT THE INBOX OF 250K+ CRYPTO INVESTORS
Advertise with Milk Road to get your brand in front of the Who's Who of crypto. The Roadies are high-income crypto investors who are always looking for their next interesting product or tool. Get in touch today.
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ROADER REVIEW OF THE DAY
VITALIK PIC OF THE DAY
Happy Tuesday Roaders
— Milk Road Images (@MilkRoadImages)12:33 PM • Jul 11, 2023
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
