🥛 Here’s why Bitcoin will end 2024 MUCH higher 🟢
Today’s edition is brought to you by PayPal – the PayPal stablecoin PYUSD is live on Solana.
GM. This is Milk Road, bringing the bullish vibes even when the market's as red as a lobster at a sunbathing contest.
Here’s what we got for you today:
✍️ Is crypto ok?
💰 It’s Funding Friday
✍️ COTD: 2025 crypto predictions
🎙️ Milk Road Radio: Which Crypto Sectors Will Perform The Best By 2025?
🍪 Dogwifhat on Vegas Sphere?
IS CRYPTO OK? 🤔
Hope you enjoyed the 4th of July fireworks! Seems like the crypto market saw the fireworks and said, "Hold my beer," but then tripped and fell down the stairs. 🤕
Here’s what happened in the last 7 days:
Bitcoin’s down -10%, to $55k
Ethereum’s down -14%, to $2.9k
Solana’s down -10%, to $130
It’s an absolute bloodbath, and it feels like there’s no end in sight. 🫣
So why is everybody panic selling?
1/ The German government has been offloading Bitcoin like there is no tomorrow, they have already sold 7,583 $BTC worth $435M.
And guess what? They still have over 41k $BTC left, worth about $2.3B.
2/ Mt. Gox wallet just moved a massive 47,229 $BTC ($2.7B) yesterday, gearing up for a July repayment party…
3/ Yesterday, the US government shifted 237 $BTC ($13M) to a new wallet. They’re still sitting on a hefty 213K $BTC stash worth $12.3B.
This means, three massive holders of Bitcoin are looking to dump – therefore, the market is pooping its pants.
Everyone is in full panic mode—some say it's as over as fax machines.
But we strongly believe it's just part of the game.
Back in March, when we were at all-time highs, we even wrote a report called "Are You Ready for a 30% Pullback?".
We saw a dip like this one coming from a mile away.
Speaking of games, the Milk Man's got a riddle for you…
What do 2012, 2016 and 2020 all have in common?
For normies, these are leap years.
For crypto OGs, these are the years that $BTC has leaped ahead.
That’s right, every 4 years, Bitcoin prices have skyrocketed 🚀
2012: Bitcoin went from $12 to $1,100 – a 9,000% increase.
2016: Bitcoin went from $650 to $20K – a 3,000% increase.
2020: Bitcoin went from $8K to $69K – a 1,200% increase.
2024: ..?
While history doesn't always repeat, it often rhymes. Therefore, we still believe that 2024 will be a BIG year for crypto.
A year during which we enter the so-called banana zone 🍌 and head to the moon. 🚀
🥛 Milk Road Take: Even though the chart above makes the Milk Man more bullish than a cow at a rodeo, he never bases his investment decisions solely on one piece of historical data.
Charts like these can help spot patterns and trends, but they need backup from other catalysts.
In our humble opinion, we're nowhere near the end of this cycle…
What makes us so sure? We're glued to our “Where Are We In The Cycle?” indicators like a hawk at an all-you-can-eat buffet, ready to spot the bull market top before it’s too late.
Best part? We share these indicators with Milk Road PRO members every Tuesday.
Join Milk Road PRO to access these indicators and stay ahead of the game.
The PayPal stablecoin PYUSD is live on Solana. PayPal has over two decades of payments experience, and is now making low-cost, high-throughput web3 payments possible through the PYUSD on Solana launch.
Learn about PYUSD on Solana and start building the future of payments.
PayPal, Inc. is licensed to engage in virtual currency business activity by the New York State Department of Financial Services.
IT’S FUNDING FRIDAY 🤑
Welcome back to Funding Friday! This week, a whopping $616.9M was raised by crypto companies. Here's the scoop on who secured the bag:
1/ IREN (ex Iris Energy) Raises $413M
What they do: IREN is a next-gen data center business powering Bitcoin and AI technologies.
Who led the round: The funds were raised through 39.8M shares offerings as part of their at-the-market (ATM) program.
2/ Sentient Raises $85M
What they do: Sentient is focused on AI and infrastructure development.
Who led the round: Founders Fund and Pantera Capital.
3/ CARV Raises $50M
What they do: CARV is building the most expansive modular data layer for AI and gaming.
Who led the round: HashKey Capital.
Honorable Mentions:
Lombard raises $16M to operate within the Bitcoin ecosystem, DeFi, and staking sectors. Led by Polychain.
RedStone Oracles raises $15M to build its modular blockchain oracle solution, led by Arrington Capital.
Prodia raises $15M to revolutionize AI inference with cost-effective distributed GPU cloud, led by Dragonfly.
The companies who build & raise today could be the next big thing of tomorrow…
We'll keep an eye on them. 👀
COTD: 2025 CRYPTO PREDICTIONS 🔮
Ever wondered what the market will look like at a $10 trillion market cap?
Will some sectors outperform others or will things stay the same?
The real question is… Are you well-positioned to profit from the next bull run?
Here’s the Milk Road PRO breakdown on what the market will look like in 2025:
We anticipate that the total crypto market cap will surge 5x to $10T 🤯
Bitcoin Dominance is expected to fall by 10% 📉
DeFi, AI & the L2 sectors will potentially double in market cap 💪
If this turns out to be true, is your portfolio well-positioned to catch the upside?
If not, it might be time to make changes to your portfolio. 👀
We wrote an entire report, providing in-depth analysis of how crypto could go to $10T by EOY 2025, and how the sectors will change.
And for those not into reading, we just released a 20-minute episode of The Milk Road Show with Kyle Reidhead where he breakdowns how to prepare your portfolio for the next bull run. 🎧
YouTube | Spotify | Apple Podcasts
BITE-SIZED COOKIES FOR THE ROAD 🍪
Bitcoin slumps below $54,000 as Mt. Gox moves 47,228 BTC. The move caused a market-wide shakeup, with crypto liquidations hitting $675M in just 24 hours. Talk about a crypto rollercoaster!
Grayscale Ethereum Trust discount to NAV quietly switches to a premium ahead of anticipated spot ETF launch. Investors are snapping up shares like hotcakes, speculating on the SEC's next move. ETHE now holds $9.5 billion in assets under management.
Multicoin pledges up to $1M for Pro-Crypto Senate Candidates. One of the largest U.S. investment firms focused on cryptocurrency, is up to support favorable views of the industry.
Notcoin stumbled, dropping 14% as its fresh start left fans scratching their heads. Confused investors are seeing red, and the market isn't helping. Who knew fresh starts could feel so stale?
Dogwifhat on Vegas Sphere team ‘90% confident’ plan will go ahead. They raised almost $700k and are negotiating new crypto-specific terms. Looks like this meme coin is shooting for the stars!
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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.
