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Greetings Victorious Voters!

Welcome to the Hodl Report, where our crypto insights are more accurate than mainstream polling data! 📊

In this issue we cover:

• Bull market confirmation 🐂

• Important news from the week 📰

• Elections done, what’s next? ❎

• Crypto humor 🤣

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Buckle up, because we're riding the bull, and it's charging full steam ahead! 🐂💨

Bitcoin's Triple Crown of ATHs 🏆

Is there a more exhilarating time to be a crypto enthusiast? I think not! With Trump's recent victory and the market heating up, we're at the dawn of a massive bull run. Just look at Bitcoin's performance printing new All-Time Highs:

• ATH 1: $73,777 on March 14, 2024

• ATH 2: $76,400 on November 6, 2024

• ATH 3: $76,850 on November 7, 2024

As of November 8th, we're chilling around $76k, eagerly awaiting more ATHs before the year's end. It's a thing of beauty 🥲, and something we've been patiently waiting for.

Election Aftershocks: The Trump Bump ❎

This past week was pivotal for shifting market sentiment. The election outcome removed uncertainties, and Trump's victory is bullish for markets, especially crypto. Bitcoin's price action on Tuesday acted as an early election signal. In the morning, it popped above $70K. By early evening, it retested its previous ATH. And then around 1:00 a.m. EST, before any media outlets had called the race for Trump, Bitcoin broke into new ATH territory.

Polymarket: The Oracle of Election Odds 🔮

Speaking of early signals, let's talk about Polymarket. This offshore betting market did a better job predicting the election odds than professional pollsters. Through mid to late October, Polymarket had Trump's winning odds in the 60%s, while pollsters were saying the election was a coin toss. Given the outcome, it appears that Polymarket was the more accurate barometer.

Read our explainer guide to discover more about Polymarket - the unique decentralized prediction betting market platform.

Fed's Rate Cut: Pouring Gasoline on the Fire 🔥

Adding fuel to the fire, the Fed's 0.25% rate cut yesterday, with another expected in December, is stimulating the economy. But the US dollar is sitting on the other side of that plan. We already have a Fed that is cutting interest rates and M2 money supply is growing, so Trump adding fuel to the fire is setting things up to create another 2020-style boom to markets.

The Age-Old Tale: Assets vs. Cash 📈💸

Those holding assets will get rich. Those holding cash will not. A tale as old as time. Now is the time to be fully deployed and bought into crypto.

Stay tuned, the bull market is here, and it's just getting started.

1. Polymarket Thrives on Election Day, $240M Volume: Polymarket, the decentralized prediction market, handled a smooth $240 million in trading on election night, running nearly 3 million transactions with ease. This stress-free performance during a major event marks a big win for the app’s hybrid on-chain model, giving the crypto world a new level of mainstream exposure.

2. France to Consider Polymarket Ban After French Trader Big Bet: A French trader, known as Théo, placed over $30 million in bets on Polymarket predicting Donald Trump's 2024 U.S. presidential election victory, potentially earning $79 million. This significant activity has prompted French authorities to contemplate banning the platform, citing concerns over unregulated gambling and market manipulation.

3. BlackRock Bitcoin ETF Hits $1 Billion in Minutes After Election: Just minutes into post-election trading, BlackRock’s Bitcoin ETF saw a staggering $1.1 billion in volume. Analysts suggest the Trump victory could fuel BTC's climb to $100,000 by inauguration, with further ETFs adding to the momentum.

4. Bernstein Ups Bitcoin Price Projections Following Election Outcome: Investment firm Bernstein now predicts Bitcoin will hit $80,000–$90,000 under a Trump administration and sees potential for a $200,000 BTC by 2025, regardless of who wins. Analysts believe Trump’s pro-Bitcoin stance would drive institutional interest, while Harris would pose more regulatory challenges.

5. Developing Nations Quietly Embrace Bitcoin: Several developing countries are discreetly advancing Bitcoin adoption by initiating state-funded mining projects, scaling from pilot programs exceeding 100 megawatts to larger efforts reaching gigawatt scales. This strategic move aims to establish national Bitcoin reserves, potentially leading to significant monthly investments in the cryptocurrency.

6. WonderFi CEO Kidnapped, Forced to Pay $1M Ransom: WonderFi CEO Dean Skurka was kidnapped in downtown Toronto and released after paying a $1 million ransom. Skurka confirmed he's safe, and police are investigating, with no company assets impacted by the incident.

7. Fed Cuts Rates by 0.25%, Eyes Another in December: In line with expectations, the Federal Reserve cut rates by 25 basis points, citing a commitment to job growth and a 2% inflation target. With a 66% chance of another cut in December, this policy may give crypto and stocks a further push into year-end.

8. Ethereum Launches Mekong Testnet Ahead of Pectra Fork: Ethereum’s new Mekong testnet, launched November 7, allows developers to test UX and staking features for the upcoming Pectra upgrade. This short-term playground for developers is a crucial step toward deploying Pectra's changes on Ethereum's mainnet.

Crypto’s New Era

 Trump’s Back, and the Bulls are Ready to Run 🐂💨

After the 2024 election sent Democrats packing, we’re now staring at a future where the Oval Office might just have a big orange “HODL” sign on the wall. And in true crypto fashion, Bitcoin couldn’t contain its excitement, jumping over $75K just hours before Trump’s victory was even official. Maximalists everywhere are popping the champagne and eagerly wondering, “Is this just the beginning?”

Promises, Promises: Trump’s Crypto Playbook 📜

Trump has set some big expectations, and he’s making a lot of “first-day” promises that have Bitcoiners rubbing their hands together with glee. Here’s a quick look at some of the boldest moves he’s planning:

• Bitcoin as a Strategic Reserve 📈: Trump wants to transfer the 207,000 Bitcoin held by the Department of Justice over to the Treasury as a strategic asset. No more sales, no more dumping - just a comfy Bitcoin pile in America’s coffers.

• U.S.-Dominated Bitcoin Mining 🏗️: In a sizzling Truth Social post this summer, Trump called for all remaining Bitcoin to be “MADE IN THE USA.” He claims that Biden’s anti-crypto stance only helps foreign competitors and sees domestic mining as a path to “ENERGY DOMINANCE.”

• No CBDCs, Protect Self-Custody 🛡️: He’s promised to protect self-custody rights and to bar the development of any U.S. Central Bank Digital Currency (CBDC). So, it’s clear: this administration doesn’t want Uncle Sam in your wallet.

• Gary Gensler…You’re Fired! 🚪: One of the most popular pledges among crypto fans: Trump has vowed to fire SEC Chair Gary Gensler on day one. A new, crypto-friendly SEC could be in the cards.

Oh, and in a move that’s turning heads, Trump even plans to pardon Ross Ulbricht, founder of Silk Road, calling his double-life sentence “excessive.” Big promises indeed, and you can bet the crypto crowd will be watching to see if he delivers.

The Big Red Wave 🌊: Congress Goes Pro-Crypto

The presidential race wasn’t the only shakeup for crypto. With Republicans flipping the Senate and possibly the House, plus 220 pro-crypto candidates winning seats, Congress is now primed to push crypto-friendly legislation and ETFs faster than ever. 🚀

Showdowns & Shakeups 🥊

• Warren vs. Deaton: Crypto critic Elizabeth Warren defeated John Deaton for Massachusetts’ Senate seat, but let’s hope her influence is limited with Congress leaning pro-crypto.

• Moreno vs. Brown 🗳️: Pro-crypto Bernie Moreno unseated Sherrod Brown, the former Senate Banking Committee chair and crypto critic, which could open the door to a friendlier approach from the committee.

Wall Street’s FOMO: The Inflow Bonanza 💰

Institutional money has been pouring into crypto like water into a leaky canoe. The first Bitcoin and Ethereum ETFs were approved, and U.S.-based ETFs now hold a staggering 1 million Bitcoin (out of the 21 million that will ever exist). With Trump’s victory, the Wall Street accumulation frenzy has only just begun.

In short: the table is set, the bulls are out, and crypto is ready for its close-up. Trump’s win might just be the fuel that pushes Bitcoin (and the entire industry) to new heights.

Big thanks for making it to the end of this week’s Hodl Report! 👊

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Happy Friday!

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).