Bold Claims From Trump & RFK at Bitcoin Nashville Conference

Bold crypto claims from Trump, bull run lining up with ...

Greetings, coin collectors!

This is the Hodl Report, your go-to guide for navigating the wild world of digital gold - grab your pickaxes, it’s time to mine some knowledge! ⛏️🪙

In this issue, we cover:

  • Ethereum ETF launch - a review after a week of data 📊

  • What claims were made at the Bitcoin Nashville Conference last week 🪙

  • Where are we at with the bull run 🐂

It's been a jam-packed week, so let’s dive right in and review the highlights!

The Ethereum ETF launched with a bang (we covered the preliminary data last week), and now, a week later, we’re finally seeing some sunshine 😎. On July 30th, for the first time since launch, ETH saw net inflows of $33.7 million, the first day where inflows were larger than outflows.

This is a clear signal that the Grayscale selloffs might be cooling down. Finally, ETH is getting the love it deserves!

The Bitcoin Nashville 2024 Conference was a spectacle, with big names dropping even bigger promises. Donald Trump took the stage with bold declarations:

  • A US strategic national Bitcoin reserve? He’s all in.

  • Promised to fire Gary Gensler and appoint a new SEC Chair (to roaring applause, so naturally, he said it twice).

  • Vowed to commute Silk Road creator Ross Ulbricht’s sentence.

  • Never introduce a US CBDC, defend crypto self-custody, and make America the global crypto leader.

Meanwhile, Robert F. Kennedy decided to outdo everyone with some jaw-dropping pledges:

  • Keep the government's BTC as a strategic asset.

  • Buy 550 BTC daily until the US holds 4 million BTC—nearly 20% of all Bitcoin! 💰

  • Make BTC-USD transactions unreportable and non-taxable. Talk about ambitious!

While Trump and Kennedy were busy making waves, Kamala Harris was notably absent. However, she did extend an olive branch, promising a cooperative stance toward the crypto community.

The Polymarket odds now reflect Harris as the leading Democratic nominee. Is her rise genuine, or just fueled by recent media buzz and drama? Only time will tell!

Now that the dust has settled, everyone’s asking: "Where’s the promised crypto bull run?" If we’re using halving cycles as our crystal ball, we’re only 7% into the run with plenty of runway left. 📈

This week, two wild Bitcoin price predictions for 2050 caught our eye. Michael Saylor, Bitcoin’s biggest hype man, threw out some massive numbers—even in his bear case. On the flip side, Van Eck, a global investment manager, surprised us all with an even loftier bull case prediction.

But let’s keep our moon boots grounded; these predictions rely on countless variables and a whole lot of unknowns. Remember, we’re still in the early innings of this crypto game! 🌙 🥾

This week, two wild Bitcoin price predictions for 2050 caught our eye. Michael Saylor, Bitcoin’s biggest hype man, threw out some massive numbers—even in his bear case. On the flip side, Van Eck, a global investment manager, surprised us all with an even loftier bull case prediction.

But let’s keep our moon boots grounded; these predictions are for 25 years away in 2050 and rely on countless variables and a whole lot of unknowns. Remember, we’re still in the early innings of this crypto game! 🌙 🥾

Crypto Newsletter Weekly Recap

Hodl Headlines

The Week’s Most Interesting News

  • Leverage coming soon for Polymarket’s prediction markets: Decentralized, onchain derivatives platform D8X and others are working on a financial engineering solution to offer leverage on Polymarket bets. D8X’s testnet deployment is expected to launch in a few weeks.

  • Trump selling Bitcoin sneakers: After Trump’s keynote speech at the 2024 Bitcoin conference, where he touted positive plans and policies for crypto in the US, he took to social media to announce the sale of his numbered, limited edition Bitcoin-themed sneakers, which can be paid for with crypto.

  • California DMV puts 42 million vehicle titles onchain: More and more real life use cases for blockchain are emerging and the latest is the the California DMV digitizing vehicle titles onto the Avalanche blockchain, allowing owners to transfer vehicle titles in minutes online, rather than in person at the DMV taking weeks. 

  • Russian law makers legalize Bitcoin for international payments: While crypto payments within Russia are still banned, law makers have legalized cryptocurrency payments for international trade, helping Russia to bypass sanctions 

  • Another $3 billion transferred from Mt Gox trustees: With barely a blip in the pricing for Bitcoin, Mt. Gox trustees transferred another $3 billion which will end up with creditors shortly. That leaves about $2.7 of the $9 billion left to be repaid.

  • First exchange trading exclusively against Bitcoin is live: Instead of trades being denominated against traditional fiat currencies, Roxom will use Bitcoin as the trading pair for all stock, commodity, and futures trades. Funded by big name funds and tech personalities, the Argentinian exchange, Roxom, is now live. 

Crypto News Recap

Disclaimer: The content from Hodl Report should not be taken as trading, investment or financial advice or solicitation to buy or sell any assets. This newsletter is for informational and educational purposes only. Please be careful out there and DYOR (do your own research).