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  • Crypto Alpha, 30 July 2024

Crypto Alpha, 30 July 2024

Daily Alpha on All Things Crypto, Web3 and Blockchain

TL;DR

  • BlackRock anticipates that crypto ETFs will be included in model portfolios by the end of this year or next year.

  • Bernstein projects that the U.S. will emerge as a "Bitcoin mining superpower."

  • There's a 95.9% chance that the Federal Reserve will maintain current interest rates this week.

  • A U.S. government address just moved nearly 29,800 BTC nine minutes ago.

  • The founder of WisdomTree predicts that cryptocurrency will become mainstream.

  • A Bloomberg ETF Analyst suggests the U.S. government might transfer Bitcoin or manage it in wallets.

  • The U.S. SEC has approved the trading of Grayscale Bitcoin Mini Trust on NYSE Arca.

  • Elon Musk affirms his belief in the value of Bitcoin and certain other cryptocurrencies.

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Alpha of the Day

BlackRock Bets on Crypto ETFs for Model Portfolios

BlackRock is making waves with a bold prediction: crypto ETFs will soon be the norm in model portfolios. They're so confident that they're setting a deadline – by the end of this year or next. Imagine your grandpa's retirement fund mingling with Bitcoin and Ethereum! This move is like adding avocado to your toast – it's trendy, potentially healthy, and makes everything look a lot cooler. Whether you're a seasoned investor or just someone who likes to sound smart at parties, get ready for crypto to crash the portfolio party.

U.S. Set to Be Bitcoin Mining Superpower

Bernstein has thrown down the gauntlet, proclaiming that the U.S. will become a "Bitcoin mining superpower." That's right, America is about to take the lead in the crypto mining world, swapping out traditional coal mines for Bitcoin mines. Picture miners with hard hats and pickaxes, but in this case, they’re tech geeks with GPUs and ASICs. With this power shift, the U.S. might just become the world’s top digital gold digger. It's like turning the American Dream into the Crypto Dream – who needs gold when you have Bitcoin?

Fed Likely to Keep Interest Rates Steady

Hold onto your hats – there's a 95.9% chance the Federal Reserve will hit the snooze button on changing interest rates this week. It’s like waiting for your favorite TV show to drop a new season, but instead, they announce a mid-season hiatus. Investors are holding their breath, but it looks like it’ll be business as usual. For now, your mortgage rate won’t give you any new heart palpitations, and the stock market can keep on doing its thing without any major plot twists.

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U.S. Government Moves 29,800 BTC

Breaking news: A U.S. government address just moved nearly 29,800 BTC, and it’s causing quite the stir. This is like the financial equivalent of finding out your grandma has been secretly hoarding a massive stash of candy. Nine minutes ago, the government flexed its crypto muscles, and the internet is abuzz. What’s Uncle Sam up to with all that Bitcoin? Are they paying for Area 51’s new alien playground? Whatever the reason, it’s a big deal in the crypto world and everyone’s watching.

Coinbase to List Stader (SD)

Coinbase is adding another gem to its treasure chest – Stader (SD) is about to join the listing party. For those keeping score, this is like adding a new character to your favorite video game. Stader is set to make waves, and Coinbase users are ready to dive in. Whether you’re a hodler or just dabbling, this new addition might just be the next big thing. So, polish your digital wallets and get ready to welcome Stader to the Coinbase family.

WisdomTree Founder Predicts Crypto Mainstream

The founder of WisdomTree is dropping some serious knowledge bombs, predicting that cryptocurrency will become mainstream. Yes, you heard it – crypto is on its way to becoming as common as your daily latte. This is like hearing your favorite indie band on a top 40 radio station; it’s exciting and a little surreal. Crypto going mainstream means more acceptance, more usage, and probably more debates at family dinners. Get ready to see Bitcoin and Ethereum at every corner shop!

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Bloomberg ETF Analyst Talks Government Bitcoin Moves

A Bloomberg ETF Analyst has suggested that the U.S. government might start transferring Bitcoin or managing it in wallets. It’s like Uncle Sam getting his own crypto wallet, and everyone’s wondering what he’ll buy first. This move could mean a lot for the market, with the government possibly becoming a major player in the crypto game. Imagine Uncle Sam as a whale – the possibilities are endless. This isn’t just a blip on the radar; it’s a potential game-changer.

SEC Approves Grayscale Bitcoin Mini Trust on NYSE Arca

The U.S. SEC has given the thumbs up for the Grayscale Bitcoin Mini Trust to be traded on NYSE Arca. It’s like getting the golden ticket to Willy Wonka’s factory, but for Bitcoin. This approval means more legitimacy and accessibility for Bitcoin investors. Now, anyone can get a piece of the action, no golden ticket required. It’s a big win for Grayscale and an even bigger win for the crypto community, opening doors and wallets to new opportunities.

Elon Musk Affirms Bitcoin’s Value

Elon Musk, the man who put electric cars and rockets on the map, is affirming his belief in the value of Bitcoin and other cryptocurrencies. It’s like Tony Stark giving a thumbs up to your tech startup – it means a lot. Musk’s endorsement is more than just a tweet; it’s a nod from one of the biggest names in tech. If Musk says Bitcoin is valuable, you can bet it’ll have people talking, investing, and maybe even dreaming of crypto-fueled Mars colonies.

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