• Crypto Roundup - June Market Blues

• Corporate Bitcoin Adoption

• Bitcoin ETF Tsunami Is About to Get 100x Bigger

• And more…

Market Data Prices as of 5:50am ET

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CRYPTO ROUNDUP - JUNE MARKET BLUES

June Hit Crypto Like a Heavyweight - Delivering One Blow After Another

Let's dive into the numbers:

Bitcoin? Down -7%

Ethereum? Down -9%

Solana? Down -12%

The total crypto market cap? Down -9%

Ouch. That's a lot of red. But why… Why did prices tumble so hard in June?

And can July be the month that revives our portfolios? 🟢

Let's explore. 👇

1/ Macro Factors

The Federal Reserve in the U.S. chose not to lower rates this month, even though inflation is easing.

For risk markets like crypto to thrive, we need macro tailwinds — interest rates 📉 or liquidity 📈 will do the trick.

But June gave us none of that.

2/ Mt. Gox Saga

Remember Mt. Gox, the exchange that handled 70% of global Bitcoin transactions? In 2014, it was hacked for 25k $BTC and shut down.

Recently, they moved up their repayment date for creditors to July 2024 (from October).

Mt. Gox creditors are set to receive 142,000 $BTC between July and October, worth around $9 billion today.

This has investors worried about a potential market dump.

3/ Government Bitcoin Sales

In June, the German government began offloading $3 billion worth of Bitcoin. Today, they’ve reportedly sent another 1,500 $BTC ($94.7M) to exchanges.

The U.S. government is also selling. They’ve sold 3.94K $BTC (worth $240M) seized from Silk Road.

(Ironic note: While the SEC is suing Coinbase, the government is using the exchange to sell their Bitcoin.)

If only Germany and the U.S. took a leaf out of El Salvador’s book… 🤦

Due to these actions, prices plummeted in June, and the Fear and Greed Index dropped to 30 – a level we haven’t seen since the bear market. 😳

If you’ve been investing this past month, you're likely feeling the pain. June wasn’t favourable to any crypto asset.

You're probably feeling anxious, scared, and considering cashing out. Don’t!

Here is a list of some of the top holdings of Bitcoin by country (you may be surprised)

This is the worst time to panic-sell. Instead, it's the perfect time to solidify your portfolio.

Why? Because we see crypto heading towards $10 trillion in the next 18 months.

That’s a 5x increase from current levels, and with the right picks, your gains could be even higher.

CORPORATE BTC ADOPTION💥

BREAKING: Metaplanet Increases Bitcoin Holdings as Market Climbs to $63k

“Asia’s MicroStrategy,” Metaplanet, strikes again.

In a recent filing, Metaplanet disclosed the purchase of 20.2 Bitcoin for ¥200 million (~$1.2 million USD).

As of July 1, the company’s Bitcoin holdings total 161.27 Bitcoin, acquired for roughly $10 million at an average price of $63,500.

At first glance, you might wonder why we’re discussing this Japanese company’s acquisition of 20.2 Bitcoin...

Here’s why it matters.

They’re not a Bitcoin or crypto-centric company.

Metaplanet, listed on the Tokyo Stock Exchange, was originally dedicated to hotel development and real estate.

However, they’ve now turned their focus to Bitcoin, emulating Michael Saylor’s MicroStrategy approach.

Since adopting a Bitcoin strategy, Metaplanet’s stock has skyrocketed by 525% 😱

With this latest purchase, Metaplanet holds the 28th largest Bitcoin reserve among publicly traded companies.

Remarkably, they are one of the few in this group not primarily involved in Bitcoin or crypto.

Corporate Bitcoin adoption is on the rise, and it’s proven to significantly boost a company’s stock value.

Now, the big question:

Who will be next? 🤔

The best crypto app to secure your tokens: Ledger

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These wallets physically store your private keys within a chip inside the device itself.

The beauty of using a crypto wallet is the security it provides to your private keys.

The big idea behind crypto wallets is the isolation of your private keys from your easy-to-hack smartphone or computer – basically anything that can expose your private keys

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Bitcoin ETF Tsunami Is About to Get 100x Bigger

Michael Saylor is the CEO of MicroStrategy and a massive Bitcoin bull

Saylor is famous for acquiring $1.5 billion worth of Bitcoin back in 2020

Since then, Saylor has become even more bullish on Bitcoin

Especially in light of the wave of Bitcoin ETFs that were approved at the start of this year.

According to Saylor, the ETFs have opened up an entire financial world of awareness and opportunity to the majority of mainstream investors.

For Saylor this is a moment of profound significance for the entire crypto space.

At BTC Prague 2024 Saylor explained how originally Bitcoin was perceived as a competitor to Gold

But now we will see that Bitcoin is beginning to make significant gains on the SandP 500 Index ETFs

Saylor noted that Blackrock and other issuers of Bitcoin ETFs have started an avalanche, that, over the next few years, will spread widely to other cities and countries

Watch the video below to listen to Michael Saylor’s complete run down on how the Bitcoin ETFs will impact the future of investing

Essentially, they will completely revolutionise the global investment scene

Join Swan Bitcoin! And Get $10 of Bitcoin When You Sign Up!

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OTHER NEWS:

• Sony ventures into the crypto realm with potential exchange relaunch. The Japanese multinational is whipping up WhaleFin, a crypto exchange it acquired last year. Sony is transforming it into a new entity called S.BLOX Co.

• Circle earns license to issue USDC and EURC in Europe. The stablecoin issuer is the first to comply with MiCA regulations, allowing it to issue USDC and EURC. Circle's CEO announced this at a Paris-based press conference.

• Abra launches treasury service for corporates that want to hold crypto. The service will provide corporates, family offices, and non-profits with a range of digital asset treasury management solutions. Abra's offering combines custody, trading, borrowing, and yield services.