Move over, DizzyWhale…
There’s even more craziness happening in the world of crypto.
And I’m not just talking about MicroStrategy (Nasdaq MSTR) entering the Nasdaq-100 today.
As I told you last Friday, this move is going to help perpetuate the infinite money loop that drives MicroStrategy’s bitcoin (BTC) investing strategy.
That’s because any ETF that mirrors the Nasdaq-100 will have to add MicroStrategy stock.
Of course, that means the stock will likely go up with more buyers. Which means Chairman Michael Saylor has more capital to buy bitcoin.
And the infinite money loop keeps spinning.
But I believe there’s a bigger story here…
Saylor and MicroStrategy have legitimized bitcoin as a financial asset. He’s made bitcoin into something investors will accept as collateral, which can be borrowed against. Like how you would borrow against your house for a mortgage or against your car for an auto loan.
And this makes a great bookend for 2024.
Remember, we began this year with the approval of bitcoin ETFs. That made it possible for anyone with a brokerage account to gain exposure to bitcoin.
And now, MicroStrategy’s inclusion into the Nasdaq-100 has legitimized bitcoin as an asset that’s acceptable for Wall Street to lend against.
We will look back at 2024 and think of it as the year crypto started eating the financial system.
Of course, bitcoin is just a distraction.
When it rallies, smaller altcoins tend to rally even more.
Speaking of which…
Let me catch you up with the latest crypto craziness.
Did He Say Fartcoin?
Last Tuesday Degen News — an account that shares meme coin information — posted this message on X:
You’re reading that right. A two-month-old meme coin called Fartcoin reached a $900 million market cap.
To put that into perspective, MicroStrategy’s market cap was only around 30% larger than that when it started buying bitcoin in 2020.
But MicroStrategy was already a 30-year-old software business by then.
Anyway, this new Fartcoin got the attention of a gold and silver investor who was convinced that meme coins like Fartcoins are a scam.
So what did he do?
Naturally, he created his own meme coin called Unicorn Fart Dust.
I’ll let X user @RealAceSpadez explain what happened next:
This is actually hilarious apparently a boomer whos a gold and silver maxi heard about $Fartcoin hitting 500m Market cap and decided to create his OWN memecoin as social experiment in the crypto space named “Unicorn Fart Dust” $UFD cause that’s how he sees money in crypto as nothing but that 😂😂 it’s currently on http://pump.fun
He has a YouTube channel he included on his http://pump.fun page that and he streamed a live video showing exactly why he’s doing it and his view on the space from a Boomers perspective, he will be providing updates on that channel as time goes on if this actually last and what happens… He explicitly claims that his page is strictly for gold and silver but he “couldn’t resist” diving into this crypto thing.
It would be hilarious if this thing sends and we completely shatter his perspective on the reality of this space. Could be a great learning experience for him and a great opportunity for someone older to get introduced to a space they never really cared for.
This could open the door to him realizing so much more about the crypto space in general. Let’s show him silver and gold are cooool, but you need some crypto meme coins in your life brother 🤣
I slightly edited the content above, but “Boomer” remark aside that pretty much sums up the situation from last week.
But here’s where we stand today.
As I write to you this morning Fartcoin has dropped from a $1 billion valuation to a market cap of just shy of $658 million.
While Unicorn Fart Dust now has a market cap of over $107 million.
What a wonderful time to be alive!
Be Careful Out There
In all seriousness, I don’t want you to read this and make the rash decision to buy one of these meme coins.
Even the X user who wrote that post notes: “Do what you want, HIGH RISK play NFA DYOR if you get in, I mean the guy told us NOT to buy.”
I bolded the relevant part.
I’m only showing you this so you can get a feel for how crazy things are in the crypto space right now.
Obviously, there’s money to be made here.
Based on MicroStrategy’s entry into the Nasdaq-100 I see bitcoin going up and to the right.
And I believe that move will send some smaller coins into the stratosphere.
But if you’re going to invest in altcoins… you need to have a plan.
I’ve given members of my Next Wave Crypto Fortunes the chance to experience some fantastic gains in this space already…
Like partial gains of 4,000% and 18,000% on LUNA…
And partial gains of 1,900% and 9,555% on Solana.
But I made those recommendations after doing in-depth research and evaluation…
I didn’t chase fartcoins.
So be careful out there!
Regards,
Ian King
Chief Strategist, Banyan Hill Publishing
Editor’s Note: If you’re interested in finding out more about Ian’s Next Wave Crypto Fortunes service, click on this link.
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