GM. This is Milk Road, the newsletter that gets you excited about the strangest things…
(“Wait, I’m psyched about the US Treasury General Account refill? Well I’ll be damned”).
Here’s what we got for you today:
- ✍️ The winners of the next bull run
- ✍️ Gov. re-opening Nov 13th?
- 🎙️ The Milk Road Show: The Final Hurdle Before The Next Bitcoin Bull Run w/ Bitwise Boyz & Jesse Eckel
- 🍪 Monad just announced its airdrop
Outskill is hosting a hands-on bootcamp designed to make you an AI-expert in just 16 hours. Reserve your free seat now.
Prices as of 2:00 PM ET. Trade today with Milk Road Swap.
THE WINNERS OF THE NEXT BULL RUN 🤫
We can’t tell if this is a strange or ideal time to say this…
But we’re going to say it anyway.
We believe we’re about to see one of the largest crypto bull runs in history.
Driven largely by AI.
AI is the new arms race – and it’s not just companies fighting for dominance, but nation states.
Because AI dominance (aka: owning digital superintelligence) = power.
Can you guess how nations will fund this race?
Brrrrrr…
Yep, they’ll turn the money printer on.
(This is the part where crypto comes into play).
When new money is printed, it debases the existing monetary supply (aka: makes it less valuable by increasing its supply/availability).
And when the money supply increases – so does the value of scarce assets, like crypto.
Check out the correlation between BTC & Global M2 (aka: the total money held in cash, checking/savings accounts, and other short-term saving vehicles around the world).
Now – the way this money finds its way into the crypto sector has changed since the 2017 and 2021 bull runs.
It’s no longer nerds (us) in their bedroom driving price appreciation as much as it is institutional investors.
And institutional capital has WAY stricter guidelines that it needs to follow when being invested.
Which means there’re only a select few ‘crypto life rafts’ for big-dog investors to choose from as they try to escape a debasing dollar.
These life rafts need to be regulated – and one of the largest regulated markets that institutions can use to gain crypto exposure is the US stock market.
Meaning the crypto assets that will get the bulk of the institutional attention will be the ones that are traded on TradFi rails:
- Public companies (e.g. Coinbase, Galaxy Digital, Robinhood)
- ETFs (e.g. IBIT for Bitcoin, ETHA for Ethereum, or BSOL for Solana)
- Digital Asset Treasuries (e.g. MSTR for Bitcoin, SBET for Ethereum, or FORD for Solana)
This list of options will likely expand as new regulatory guidelines are passed (more on that in the next article) – but for now, this is the short list. ☝️
As we’ve mentioned in the past, our plan remains unchanged:
Hold majors, zoom out, chill.
P.S. You can get a closer look at all of the above, HERE – and sign up for the soon-to-launch Milk Road AI newsletter, HERE!
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THE GOV. SHUTDOWN TIMELINE JUST SHRANK BY 3 WEEKS 📈
Man, time changes everything.
It was time that put a whole bunch of stray hairs on my chest, lines on my face, and (most recently) optimism in my heart — aaaw!
The driving factor behind each of the above are:
- Hormones
- Stress
- Polymarket Odds
(Today, we’re focusing on the latter point).
On Monday, we ran this chart:
Today, that same prediction market looks like this:
We just wiped ~3 weeks off the predicted government shutdown!
Here’s why a quicker end to the shutdown is bullish for markets/asset prices:
1/ The TGA can be spent
When you hear ‘TGA’, think: ‘government checking account’ – it's a pile of cash that the US Treasury uses to pay for government operations.
Since July, the US Treasury has been refilling the TGA, sucking cash (aka: liquidity) out of the financial system in the process – which has acted as a drag on asset prices.
But the refill is now done, and the US Treasury is ready to start spending its cash pile (at least, once the government opens back up).
At last count, there was ~$957B in the TGA:
And $250-350B of it is expected to be pumped into the US economy in the months following the government re-opening.
2/ Government employees start getting paid again
Approximately 13% of the US workforce is made up of government employees – and right now, they’re not getting paid.
If this government shutdown ends the way others have in the past, ~13% of the US workforce will not only start receiving payments again – they’ll get back pay.
I believe that’s what those in the biz refer to as (*checks notes*) ‘economic stimulus’.
3/ Important crypto bills can get passed
You know how in the first article, we said there’s only a small handful of crypto assets that can be accessed by institutional investors?
The Market Structure Bill and the Clarity Act aim to widen that spread, giving clear regulatory guidelines to a greater amount of digital assets.
And once the government opens back up, these bills can be voted on/passed – what’s better is: the momentum is already there. 👇
You feel that? I certainly can.
That’s optimism creeping back into my shuddering heart.
Either that or a blocked artery. ¯\_(ツ)_/¯
BITE-SIZED COOKIES FOR THE ROAD 🍪
Bridging just got a whole lot more rewarding. Wormhole just launched Portal Earn that lets you unlock rewards every time you bridge.*
Great sign! It looks like whales are accumulating Bitcoin right now…
Airdrop alert: Monad just announced its airdrop and public mainnet launch date (Nov 24).
YouTube bans crypto content? Eh, not really. The ban is more focused on casinos and gambling sites.
We’re hiring an AI Investment Analyst & Writer ← click to apply!
Humanity x Mastercard: Mastercard's Open Finance Tech will soon allow Humanity Protocol users to access credit, loans, and real-world financial services onchain.*
*this is sponsored content.
MILKY MEMES 🤣
ROADIE REVIEW OF THE DAY 🥛
VITALIK PIC OF THE DAY
