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Hey there, Pump Patrol!

You’re reading the Hodl Report, where the charts are heating up, the hopium is flowing and the Bitcoin pump is loading… slowly… but dramatically 📈

This week in the Hodl Report:

• Macro check-in, big picture, bigger feelings 🌎

• Price boom brewing? Supply, demand, and serious pump potential 💥

• News you need, not the noise to ignore 📰

• Crypto Memes to emotionally hedge your portfolio 😂

Grab your helmet, we’re ready to launch! 🚀

Trump’s got one thing on his mind (not including tariffs…okay maybe 2), cut those interest rates and get the debt under control.

But Polymarket bettors?

They’re not buying the June hype.

Odds for a cut are sitting low, probably thanks to Powell’s masterclass in vague Fed-speak during the last press conference. 🧐

Over in crypto land, Bitcoin dominance is dropping while the total market cap keeps climbing.

This only means one thing… altcoins are getting juiced.

Ethereum’s leading the charge, and yes, memecoins are back too - because apparently we haven’t learned our lesson yet. (We’re still twitching from the last rugpull stampede. Please send help.) 🤡

Is it really altseason?

Kinda.

But don’t expect a 2021 rerun. This time around, we’ve got 40+ million tokens flooding the space and launching one is easier than ordering a pizza.

The cycle’s still here - but it’s stretching out as the market matures. Slower buildup, but with way more noise. 📢

On the corporate side, Coinbase has had one hell of a week.

They dropped earnings, took a hit from a hacker incident involving support agents, then turned it around by landing a spot in the S&P 500. Talk about a volatile week!

Coinbase is the first crypto-native company to make it into the S&P 500 and according to Bernstein, the party’s just getting started - they estimate $COIN could see a $16B wave of buying pressure as funds reallocate.

Bernstein’s Coinbase stock price target? $310.

Oh, and in case there was any confusion about where Coinbase stands, they’ve doubled down on their mission, rolling out a new commercial hammering home the whole “money printer go brrr” vs. Bitcoin’s fixed supply narrative. Classic.

COIN’s having a moment, but the question is: will it last, or is the better bet still good ol’ BTC? We’re watching closely.

We’re also watching ETH closely, and we’ve got a deep dive coming Tuesday to answer the big question: Is it time to buy?

Stay tuned, stay sharp, and let’s ride this wave (or at least not drown in it). 🏄

🔥 Bitcoin Supply Crunch Is Here 🔥

💥 Explosion Incoming 💥

Let’s call it what it is, we’re in the middle of a full-blown Bitcoin supply crunch, and the price pressure is building like a volcano ready to blow.

Here’s the setup:

• Total BTC on exchanges? Just 2.17 million coins. That’s the lowest since 2018.

• May 9th: Coinbase saw its largest daily BTC outflow ever - 9.7K coins withdrawn, likely by institutions who are not planning to sell.

• Miners? Not selling. After years of dumping, miners flipped in April and are now net stackers since BTC bottomed at $74K.

Meanwhile, buying pressure is going vertical.

ETF inflows are ramping up.

FTX creditors are getting repaid $5B in fiat by end of May and a lot of that is expected to flow straight back into crypto. 💸

And the big one in recent weeks is that Bitcoin treasury companies are multiplying and stacking sats like there’s no tomorrow.

Michael Saylor’s calling for 700 Bitcoin treasury companies next year and we’re starting to see how this new dynamic plays out:

Speculators buy MSTR → MSTR buys Bitcoin → MSTR never sells.

The end result?

Speculative cash goes in and permanent Bitcoin holders come out.

It’s a masterclass in how to Hodl.

In past cycles, speculators bought Bitcoin directly and fled just as fast. That’s what triggered those brutal drawdowns. But now? The BTC is getting vacuumed up by long-term holders who ain’t selling. 🔒

Let’s talk corporate adoption, because it’s getting ridiculous:

• 💰 Strategy (MSTR) just bought another 13.3K BTC. They now hold 568.8K BTC at an average price of $69.2K.

• 💰 Next Technology Holding (NXTT), a mainland Chinese firm just disclosed a 5.8K BTC bag.

• 💰 Twenty One (XXI), Jack Mallers’ new company, added 4.8K BTC, now holding 36.3K BTC total.

• 💰 Metaplanet (3350.T) bought another 1.2K BTC, now holding 6.7K BTC at an $89.4K average.

• 💰 Semler Scientific (SMLR) stacked 174 BTC, bringing their total to 3.8K BTC.

• 💰 American Bitcoin (ABTC) is launching via a merger between Trump-backed American Data Centers and Gryphon Mining. You already know they’ll be stacking.

• 💰 Nakamoto (TBD), David Bailey’s new treasury firm just merged with KindlyMD. He aimed for $300M, but raised over $700M. You already know where that’s going.

Every week, more companies pile in. Every day, more Bitcoin disappears from circulation. The supply side is drying up, and the demand side is accelerating.

When the dam breaks, it’s gonna be violent.

Supply shock is here.

Price detonation incoming. 💣🚀

1. Galaxy Digital in Talks With SEC to Tokenize Company Shares: Mike Novogratz’s Galaxy Digital is in discussions with the SEC to tokenize its corporate shares, potentially becoming one of the first major U.S. firms to go fully onchain. The move could redefine public equity access for blockchain investors.

2. Abu Dhabi’s Sovereign Wealth Fund Invests $408M in BlackRock Bitcoin ETF: The Abu Dhabi Investment Authority has revealed a $408 million stake in BlackRock’s Bitcoin ETF. The investment signals growing confidence from Middle East institutions in BTC as a reserve asset.

3. Coinbase Hackers Bribed Employee, Demand $20M Ransom: Hackers bribed a Coinbase employee to gain access to customer data and are now demanding a $20 million ransom. The breach is under investigation, with Coinbase assuring users their funds remain secure.

4. FTX to Begin $5 Billion in Creditor Payouts on May 30: FTX will start $5 billion in creditor repayments on May 30 under its approved bankruptcy plan. The payouts are expected to inject liquidity into the market as victims finally see relief.

5. Binance Launches “Megadrop” Platform for Airdrops and Quests: Binance has introduced Megadrop, a platform combining token airdrops with gamified user quests. The feature rewards early engagement and aims to boost new project launches across BNB Chain.

6. SEC Reviewing Grayscale's Solana ETF Filing: Grayscale has filed for a spot Solana ETF, now under review by the SEC. The move follows rising institutional interest in SOL and growing demand for diversified crypto exposure.

7. Tether Buys $459M in Bitcoin Through Twenty-One Capital: Tether has purchased $459 million worth of Bitcoin via Twenty-One Capital, continuing its aggressive BTC accumulation strategy. The stablecoin giant now holds over 78,000 BTC.

8. Trump Memecoin Gala Dinner Winners Announced, Background Checks Required: Winners of the Trump Memecoin Gala Dinner have been finalized, but all attendees will undergo background checks. The exclusive event blends crypto hype with political theater.

9. Punks Join Node Foundation to Shape Web3 Infrastructure: CryptoPunks holders are joining the Node Foundation, taking an active role in shaping decentralized infrastructure. The collaboration focuses on governance, tooling, and cultural leadership in Web3.

10. Tornado Cash Developer Roman Storm to Stand Trial: Roman Storm, co-developer of Tornado Cash, will stand trial for alleged money laundering and sanctions violations, according to the DOJ. The case has become a flashpoint in the battle over crypto privacy rights.

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)