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GM. This is Milk Road, the crypto newsletter that makes you feel more accomplished than parallel parking perfectly in one-go.
Here’s what we got for you today:
- ✍️ Bitcoin 2024 just started
- ✍️ How long does it take to make $1M?
- 💰 Funding Friday
- 🎙️ The Milk Road Show: Ethereum vs Solana vs Bitcoin w/ OSF
- 🍪 Jito joins the restaking party
Prices as of 9:30AM ET. Click here for our Fear & Greed Index
BITCOIN 2024 JUST STARTED 🚨
Bitcoin 2024 is lighting up Nashville. Yeehaw! 🤠
This is the crypto shindig of the year, where the big shots gather to talk about the future of digital gold, and the maxiest of the Bitcoin maxis roam the conference halls.
Here’s the star-studded lineup of speakers:
- Donald Trump
- Robert F. Kennedy Jr.
- Cathie Wood
- Michael Saylor
- Edward Snowden
- Vivek Ramaswamy
And rumor has it thatElon Musk might just pop in for a surprise visit. He’s in town and was rocking those laser eyes on X. 👀
But the real showstopper? TheMilk Man's crew is in the house, and we're ready to make some noise! If you see us, say hi—we can't wait to chat! 👋
What’s on the agenda?
Panels and keynotes are diving into hot topics like the TradFi to DeFi transition, Bitcoin on corporate balance sheets, and its future as a beacon of freedom.
This event is where big ideas and revolutionary projects get their time to shine. 🙌 Rumor has it, the biggest idea of them all is coming from none other than Donald J Trump, expected to announce something along the lines of using Bitcoin as a reserve asset for the US balance sheet. We can’t confirm or deny, but it feels like something big is going to come out of the next few days at Bitcoin 2024.
And don't worry, security is keeping the bears out in the woods—no bearish vibes allowed here!
There's a ton going down this weekend, but if you can’t make it, don’t sweat it—the Milk Man's got you covered.
Keep an eye on our socials for summaries of the biggest keynotes and updates from the biggest brands. 👀
We've already got some spicy coverage up on Twitter…
Speaking of mind-blowing, don’t miss the latest episode of The Milk Road Show featuring OSF.
He dropped a shocker, saying he's more bullish on $BTC than $ETH and $SOL this cycle. The Milk Man was floored!
Tune in to hear more about his surprising take. 🎧👂
YouTube | Spotify | Apple Podcasts
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HOW LONG DOES IT TAKE TO MAKE $1M? 🤔
Let's be real - not all of us popped out of the womb as wealthy tycoons or serial entrepreneurs.
For us mere mortals, the path to building that sweet, sweet wealth involves a little something called...investing!
But, is it actually possible to become a millionaire by just investing? 🤔
Let’s do some quick math 🧮:
- Saving $2,000/month without investing = 42 years to become a millionaire
- Investing $2,000/month in S&P 500 (avg. 10% return) = 16.5 years to become a millionaire
- Investing $2,000/month in an asset class returning 140% annually = Less than 4 years to become a millionaire 🚀
This fun exercise gives a big-picture view of crypto's rise. Numbers might vary due to compounding, but you get the idea.
But what’s the asset class returning 140% annually? Answer: Crypto! 💎
If we zoom out and look at the bigger picture, we can see that the least risky asset in crypto ($BTC) is averaging growth of over 140% per year since 2011! 📊
Moreover, we believe that we’re about to enter the “up only” phase of the crypto cycle, where 140% returns will look like ants. 🐜
BUT, remember, this isn't an express elevator to the top – expect some turbulence... just like how the market went from $2.9T in March to $2.1T in June (38% pullback).
We may sound like a broken record but pullbacks are part of the game.
- During the 2017 bull run, $BTC had 12 milk spills of at least 25% before reaching those creamy all-time highs.
- Similarly, in 2021, $BTC observed 9 such pullbacks.
So, if you wanna be a millionaire (so frickin’ bad… 🎵), you gotta whip up a portfolio that can handle these dairy dips and still scoop up the sweet gains ahead... 🚀
That’s why we developed the Crypto Investing Masterclass– a comprehensive guide to building a sustainable portfolio and unlocking your financial future. 🔐
You’ll learn how to master crypto cycles, outsmart and outperform 99% of investors, pick the winning assets and build a successful crypto portfolio.
Hurry though, Roaders! You’ve got just 72 hours to milk that 33% early-bird discount - after Sunday, you’ll be paying full price and we all know you deserve better!
P.S. You can now access the course by paying with crypto! Hells yeah! 🥳
P.P.SMilk Road PRO members get a whopping 50% discount. Upgrade your membership here and find a special link inside your welcome email.
ITS FUNDING FRIDAY 💰
Welcome back for another week of who raised what in crypto!
Remember, funding matters because it fuels the crypto innovators and entrepreneurs and gives this industry more chances of creating the next big thing onchain!
So, to give you a better idea of what direction funding is going, the Milk Man put together this nice lil chart showing YTD funding week by week, and will update it every Friday.
That’s a whooping $4.55B so far this year with a $189.5M weekly average.
This week, $196.2M was raised by crypto companies. Here are the 3 projects that secured the biggest bags:
1/ Block Mining Group raised $92.50M
- What they do:Block Mining Group is focused on providing infrastructure and resources for large-scale cryptocurrency mining operations.
- Who led the round:Riot
2/ NPC Labs raised $18M
- What they do:NPC Labs is developing innovative solutions within the Base Ecosystem, focusing on gaming, infrastructure, and real-world assets.
- Who led the round:Pantera
3/ Caldera raised $15M
- What they do:Caldera is working on developing multi-chain infrastructure to enhance the collaboration of blockchain networks.
- Who led the round:Founders Fund
And in honor of the Olympics kicking off, we wanted to close out today with a slick look at where all this funding is coming from.
Here’s a YTD view of what countries are home to the most active VCs in crypto.
The US is COOKING, funding 4.8x the projects of the 2nd place country, Singapore. Will the US win the Olympics too? We’ll have to wait and see.
Snoop Dawg kicked things off carrying the torch this year… And who knows, maybe next Olympics it will be Brian Armstrong or even the Milk Man! 🤷
BITE-SIZED COOKIES FOR THE ROAD 🍪
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Bitwise goes big, literally, with a banner on the NYSE. The ETF started trading with $204M in net inflows and continued to attract significant investments. This bold move aims to raise awareness and attract more investors to the new product.
Elon’s X ditched the Bitcoin and MAGA emojis. The removal happened without any public announcement, leaving the reasons behind the change unclear. This change coincides with the Bitcoin 2024 Conference in Nashville, sparking speculation among users.
HSBC Australia says "no more cookies for you" to crypto exchanges after a $171M scam. The bank cited rising investment scams as the primary reason for blocking payments. Customers are now advised to find alternative methods for crypto transactions.
Jito’s token rallies as restaking joins the party. The new restaking feature includes a vault program and actively validated services to enhance staking rewards. Jito aims to leverage these features to increase validator revenue and overall platform security.
Wanna team up with the Milk Man? We currently have 2 positions open – check ‘em out and apply here!
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
