Today's edition is brought to you by Polymarket - the largest prediction market, providing real-time election forecasts as events unfold.
GM. This is Milk Road. The newsletter that cares for your portfolio as if it’s its own.
(Yes, even you Mr. Schiff).
Here’s what we got for you today:
- ✍️ The $BTC ETFs are now more than half the total value of gold ETFs
- ✍️ How to build a crypto portfolio in 2024
- 🎙️ The Milk Road Show: Why MicroStrategy Is the Best Beta Play to Invest in Bitcoin? w/ Rajat Soni
- 🍪 Microsoft shareholders vote on Bitcoin investment from their $3T treasury
Prices as of 2:00PM ET. Click here for our Fear & Greed Index
THE $BTC ETFS ARE NOW MORE THAN HALF THE TOTAL VALUE OF GOLD ETFS 💪
Time for what seems to be turning into a weekly call-to-action:
“Can someone please do a welfare check on Peter Schiff?”
(FYI: Petey-boy is the world’s loudest gold bull/Bitcoin bear).
We say this, ‘cause right now, both gold and Bitcoin are hovering around all-time highs.
Each has a range of US spot ETFs that allow investors to buy the underlying asset via the stock market.
(Investors buy ETF shares → the ETF managers use that money to buy gold or Bitcoin).
…but one is not like the other.
The spot Bitcoin ETFs have attracted ~$70B worth of investment, while gold sits waaay out in front with ~$130B of net investment.
Now, the reason ol’ Schiffy might be in need of a welfare check is this:
The gold ETFs’ have had a 20 year head start on the Bitcoin ETFs, which have only been around for 10 months.
And in that time, they’ve attracted more than 50% of the total investor dollars of their gold counterparts!
The kicker? Bitcoin’s total market value currently sits around $1.4T, while gold’s is at ~$18.5T – which means investor dollars go further with Bitcoin.
Here’s how that works:
Adding, say, $50B to the market cap of each asset would have two very different effects…
- Adding $50B to Bitcoins’ ~$1.4T market cap would move the price up 3.5%
- Adding $50B to Gold’s ~$18.5T market cap would move the price up 0.27%
Seems small, but that’s about ~13x outperformance between $BTC and Gold – for the same dollar-increase in market cap.
Side note: we got WAY more feedback on Wednesday’s edition (where we revealed our personal portfolios) than initially expected…
So for those of you that have been asking, this is pretty much the core basis for why I (Chevy) went 100% in on Solana.
Lemme copy/pasta a chat I was having yesterday with one of our readers (hi Sara 👋) and answer everyone’s questions at once:
“Cool story, bro. Can we get back to Bitcoin vs. Gold?”
(Heard!)
Right now, Bitcoin has that same potential for asymmetric returns when compared to gold:
It’s attracting more investor dollars → in a shorter period of time → all of which has an outsized effect (by percentage) on price.
Say it with us now:
“Can someone please do a welfare check on Peter Schiff?”
DON’T TRUST THE POLLS, TRUST THE MARKETS
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- Who will win the NBA this year?
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Disclaimer: Forecasts available worldwide, trading not available in US and other restricted jurisdictions.
HOW TO BUILD A CRYPTO PORTFOLIO IN 2024
Remember how in Age Of Empires, the unexplored areas of your game map would be shrouded in darkness?
Source: Age Of Empires
That’s kinda what it feels like when you first enter the crypto space.
Your understanding of how markets work is like a tiny circle of light, surrounded by a sea of dark unknowns.
We wanted to fix that. So we created a free guide, called “How To Build A Crypto Portfolio in 2024”.
It will show you how to:
- Allocate to the right tokens
- Gauge when to buy, and when to sell
- Minimize risk and maximize profits along the way
So you can start (or continue) your crypto journey with a solid level of confidence.
Just click below → leave your email → and we’ll send you the full guide 😊
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Bitcoin ETF momentum goes slack after 6-Day streak. The $BTC ETFs have cooled off, after almost $3B of inflows over the past six trading days (damn dog, why you gotta play me like that?).
Tether Reports $7.7 Billion Profit in 2024. For real though, who wants to start a stablecoin with us? $7.7B in profit, with an estimated 50 employees? That’s $154M of profit (not revenue — PROFIT) per employee!
Microsoft shareholders begin voting on $3 trillion Bitcoin treasury investment. Awww, Michael Saylor wants to buy $42B worth of $BTC? That’s cute. Microsoft has a $3T treasury to play with! Obviously they’re not going to put the whole thing in—but still!
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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.
