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Hey there, Hodlers,

You’re locked into the Hodl Report, where our insights run deeper than AI stock dips after a DeepSeek launch. 🤖

This week we cover:

• 🔥 Where’s Crypto Headed?

• 🚀 The Most Bullish News So Far

• 📢 Key Headlines From the Week

• 🤣 Top-Shelf Crypto Memes

Let’s jump into it!

We started the week off with a drop (I mean a buying opportunity). 📉

Thanks, DeepSeek…

But we bounced back due to political tailwinds and massive adoption news. 💪

In short - we’re holding above the downward trendline and if the charts are right (big if), we’re heading straight to new all-time highs.

That is… if you believe in charts predicting the future. 😏

On the flip side, some are calling for a major short-term pullback (up to 30%), with Arthur Hayes leading the charge predicting a dip to $70K-$75K.

But with all the bullish momentum happening right now, that’s like calling for rain in the desert - it could happen, but we’re not betting on it.

The biggest reason we’re laughing at the bears? 😆

The pro-crypto political shift is too massive to ignore. The last administration treated crypto like it was the final boss in an RPG, while this new one just signed an executive order basically rolling out the red carpet for crypto.

What does that mean? 🤔

The big money is coming and hopefully you don’t sell them your bags at a discount! 💰

1. Corporations will be adding Bitcoin to their treasuries.

2. Pension & large funds seeking Bitcoin exposure

3. States and nations incorporating digital assets into their reserves.

How do things currently stand?

Here’s a beautiful, decentralized display of who really owns Bitcoin.

Reminder to HODL tight, because the banks, countries, and funds are lining up to buy your coins.

Any warning signs as we enter this bull run? 🚨

Michael Saylor just made the cover of Forbes. If you know your history, he’s joining the ranks of Sam Bankman-Fried and FTX who had their moment before crashing and burning and plunging the crypto market into a multi year winter.

Is this a harbinger of doom, or just a coincidence? Maybe the 3rd time really is the charm.

Let’s refocus our inner bull and lock in on this week’s biggest wins.

Oh, and the last one?

Absolutely massive and somehow, everyone seems to be missing it! 👇

Bullish Adoption News

PLUS: A Hidden Catalyst for Massive Rallies 🚀

This week was packed with bullish adoption news, but one game-changing regulation flew under the radar, and it’s about to shake things up in a big way.

First, the Headlines That Got Everyone Talking:

1. Czech Republic is considering adding Bitcoin to its national balance sheet.

   

2. Norway revealed $500m in holdings of MicroStrategy, essentially gaining indirect Bitcoin exposure.

   

3. Speculation is swirling about eliminating capital gains tax on crypto. No details yet, but it’s a bullish signal no matter how you slice it.

   

The momentum is undeniable. Institutions, banks, and even entire nations are starting to stack Bitcoin. 

But the biggest news of all?

A Regulatory Shift That’s About to Change Everything

Finally a positive narrative from Jerome Powell this week when he said that both:

1. Banks have the green light to deal in crypto

2. No need to wait for inflation lowering to continue with rate cuts

Great timing now that the repeal of SAB 121 was recently made official, which now allows banks to custody crypto for their customers. That alone is huge and banks are suiting up and getting ready to dive headfirst into digital assets.

But there’s an even bigger sleeper catalyst:

📊 The FASB accounting rule change for Bitcoin.

Starting December 15, 2024, companies will finally be able to use Fair Value Accounting (FASB) principles to report Bitcoin holdings at market price instead of just their purchase price or lower.

Why does this matter?

Before this change, companies holding Bitcoin could only report it at the price they bought it at, or lower. No matter how much Bitcoin had gained, it couldn’t be marked up on the books.

Companies still held Bitcoin anyway. That’s how bullish they were.

Now? They can finally flex their unrealized gains.

The first major proof is Tesla reporting a $600M gain from Bitcoin on its books thanks to the FASB rule change. That’s just the beginning.

With upcoming earnings reports from MicroStrategy, Coinbase, and other Bitcoin-heavy companies, we’re about to see a wave of institutions forced to publicly acknowledge their Bitcoin profits.

This change was originally announced back in 2023, but has the market priced it in yet?

With reports set to roll out over the next few quarters, we’re about to find out and it could send the market into overdrive.

Buckle up for the wild ride ahead. 🚀

1. Gary Gensler Returns to MIT: Former SEC Chair Gary Gensler has rejoined MIT as a professor, focusing on artificial intelligence in finance, fintech, and regulatory policy. He previously taught at MIT from 2018 to 2021 before leading the SEC.

2. Lagarde Confident EU Central Banks Will Shun Bitcoin Reserves: European Central Bank President Christine Lagarde expressed confidence that no European Union country will add Bitcoin to its monetary reserves. She emphasized the improbability of Bitcoin being included in EU central bank reserves.

3. Ripple CEO Opposes Bitcoin-Only US Reserve: Ripple CEO Brad Garlinghouse criticized the idea of a U.S. digital reserve limited solely to Bitcoin. He advocates for a diverse digital asset reserve to better reflect the crypto ecosystem.

4. BlackRock Files to Enable In-Kind Bitcoin Redemptions: BlackRock has proposed a rule change to allow in-kind redemptions for its Bitcoin ETF. This move aims to simplify ETF operations and potentially reduce tax implications for investors.

5. ‘Unlimited Leverage, No Liquidation’ DEX Launches on Base: InfinityPools, a new decentralized exchange on Base, offers traders unlimited leverage without the risk of liquidation. The platform currently features two live pools with sUSDe and wstETH collateral.

6. French Investigators Open Fraud Probe Against Crypto Platform Binance: French authorities have initiated a judicial investigation into Binance for alleged money laundering, tax fraud, and other charges. The probe covers activities from 2019 to 2024 across France and the European Union.

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).