🥛 98% of Bitcoiners are in profit 🤑
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GM. This is Milk Road. Your venti triple shot espresso of crypto, with a side of memes.
Here’s what we got for you today:
BTC is hitting new all-time highs around the world 📊
98% of BTC investors are in profit 🤑
Institutions poured billions into crypto last week 💸
The NFT market has gone multi-chain 👀
Meet the NFL player who bet big on BTC 🔮
This CryptoPunk just sold for $16M 🍪
4 GRAPHS YOU NEED TO BE TRACKING RIGHT NOW
1/ Bitcoin is hitting all-time highs around the world
🚨ATTENTION! This is not a drill!🚨
BTC has hit a new all-time high in 14 of the top 20 currencies in the world.
I repeat, this is NOT a drill!
Next up? ‘Merica.
(BTC is about 4% away from hitting a new all-time high in U.S. dollars).
2/ Almost all BTC investors are now in profit
Here’s a crazy stat for you…
About 98% of all BTC investors are now in profit.
Milky Fact of the Day: The last time Bitcoiners were this profitable was in November 2021.
Congrats, you can all call in sick rich at work today!
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And now back to your regularly scheduled programming…
3/ Crypto funds are seeing massive inflows
The results from CoinShares’ latest report are in…
$1.84B was invested in digital asset investment products last week.
It’s the 2nd largest weekly inflow on record.
Here’s everything else you need to know from the report:
Trading volumes hit $30B, a new weekly record.
BTC saw 94% of the investments.
ETH saw $85M in total inflows, the largest weekly inflow since July 2022.
Assets under management (AUM) hit $82.6B, and are close to reaching a new all-time. (It was ~$86B back in 2021).
Most altcoins saw minor inflows. MATIC led the way with ~$8M, while SOL saw minor outflows for the 3rd straight week.
We’ll see what’s in store this week, but I have a feeling* it could be another record-breaker.
*Side note: TBD if this feeling is a “gut instinct”, or the Taco Bell I ate last night.
4/ Bitcoin is dominating the NFT market
It’s official. The NFT market has gone multi-chain…
5 blockchains have seen over $1M in NFT volume over the last 24 hours.
The surprising part? Bitcoin is leading the way.
The OG blockchain has almost seen as much NFT volume as the other 4 blockchains… combined!
THE NFL PLAYER WHO MADE A BIG BET ON BITCOIN 🔮
Meet Russell Okung. He’s a:
Former NFL star
2 time Pro Bowler
Super Bowl champion
And in 2020, Russell made a BIG decision…
He became the first NFL player to take part of his salary in BTC (it was ~$30K at the time).
At first, everyone laughed him out of the building…
Money managers called him a dumb jock.
Financial advisors said he got hit in the head one too many times.
Fast forward to today… Russell Okung’s Bitcoin bet has more than doubled.
Here’s what he recently had to say about the process:
Here you go, King, you dropped this… 👑
BITE-SIZED COOKIES FOR THE ROAD 🍪
How Airdrops Work and Where To Find Airdrops. Check out the Milk Road guide to earning free tokens and an explanation of how they work. Who doesn’t like free stuff right?
A crypto exchange in Hong Kong disappeared with $57M last week. The crazy part? The “company’s address” leads to an empty office in a strip mall. –DL News.
This CryptoPunk NFT just sold for 4,500 ETH (worth $16M). It’s the second-largest CrytoPunk sale ever.
Crypto stocks are surging as BTC approaches a new all-time high. Coinbase, MicroStrategy, CleanSpark, Marathon Digital, and others were all up over 5% in pre-market trading today.
Memecoins continued their rally over the weekend. The biggest winners? $PEPE, $DOGE, $BONK, and $WIF.
Tether’s stablecoin (USDT) just hit a circulating supply of 100B tokens. The total USDT supply (including those minted and authorized) amounted to 104 billion as of Monday, according to data from The Block.
MILKY MEMES 🤣
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ROADER REVIEW OF THE DAY
VITALIK PIC OF THE DAY
When they call you “lucky”
— Milk Road Images (@MilkRoadImages)
Mar 4, 2024
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.
