Elon Crashed Bitcoin?!? 📉

“Two things are infinite: the universe and human stupidity; and I'm not sure about the universe.”― Albert Einstein

In today’s email:

• SpaceX Crashed BTC? We think not 📉

• ETFs simplified 🏦

• BASE Report 🚨

F*CKING ELON?

Crypto was ROCKED today following the news of SpaceX selling off 100% of their crypto holdings. Yes, you read that correctly. Media outlets want you to believe the rumors that a company, which builds space-traveling rockets, selling their crypto portfolio caused this sell off. Welcome to crypto - where space travel and finance DO go hand in hand.

There were also rumors of the massive downturn being caused by Evergrande filing bankruptcy.

While these are both wildly entertaining, this is more than likely being caused by the funds that petitioned for ETFs doing what they do. We have said this previously, but if you think that a company like BlackRock is going to pay a premium for BTC used to fill up their ETFs, you’re stupid.

While the ups and downs of the space are alarming, the trick is to not get shaken out; that’s what they want. 😉

ETFs

What is an ETF?
ETFs, or "exchange-traded funds," are exactly as the name implies: funds that trade on exchanges, generally tracking a specific index. When you invest in an ETF, you get a bundle of assets you can buy and sell during market hours, potentially lowering your risk and exposure, while helping to diversify your portfolio.

What is a Bitcoin ETF?
Bitcoin exchange-traded funds (ETFs) are pools of bitcoin-related assets offered on traditional exchanges by brokerages to be traded as ETFs. The intent behind these ETFs is to give retail investors and investors that are uncomfortable investing in cryptocurrencies access to them without actually owning them.

What does this mean?
BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth, Bloomberg analyst says. Following the BlackRock application, a Bitcoin spot ETF was never so close to being approved and it could be a game-changer for the crypto industry, explains ETF analyst, Eric Balchunas.

BASE REPORT

As BASE gets started, we are confident in saying, “There are going to be major gains to be had on BASE.”

That’s why our Weekend Report is going to be NOTHING but a repository of what is being built on BASE. From airdrops to yields, we got you covered.