#145 “All Roads Lead To Inflation”
Why billionaire hedge fund manager is long BTC
GM - this is The Snapshot, edition #145.
This is what I’ve got for you this week.
This Week In Web3 - Long Gold, Long BTC, Long Commodities
Sponsored Post - Lil Nouns Fund $5500 Clean Water Nigeria Initiative
Notable Sales - Penguins, Punks, Botto
Investment Focus - “All Roads Lead To Inflation” - The Details
For sponsorship enquires, please DM me on Twitter.
Have a great day,
B
This Week In NFT World - Long Gold, Long BTC, Long Commodities
Paul Tudor Jones says “all roads lead to inflation” and he is “long BTC”
"we are going to be broke really quickly unless we get serious about our spending issues"
"all roads lead to inflation"
“long gold, BTC, commodities"
PTJ on BTC
Solana surges compared with ETH
Scroll L2 market valuation fails to impress at $850M
Crypto exchange Kraken announces its own L2: Ink
“Cryptocurrency exchange Kraken has unveiled Ink, an Ethereum-based layer-2 blockchain powered by Optimism's OP Stack.
Ink will offer on-chain wealth management tools for seasoned digital asset traders and crypto-curious clients, Kraken said Thursday in a joint statement with the Optimism Collective. The network, which rolls out on testnet in November, will be interoperable with Optimism's Superchain, a network of layer-2s that share security and infrastructure.”
From Decrypt
AI memecoin $GOAT surges another 50% higher to $800M marketcap before 20% pull back to $650M
$GPT2 runs to $45M marketcap with Sam Altman rumour before crashing down to $2M as AI meta continues
"TLDR on $GPT2 > @gpt2chatbot tweeted a pump fun CA > People notice it's followed by the official @ChatGPTapp account >@iruletheworldmo, an account rumored to be Sam Altman's alt, retweets multiple gpt2 posts > (Sam's alleged alt) begins posting "goat killer" posts and engaging with Sam Altman's main > $GPT2 runs to 45m > @muzzyvermillion fuds, saying it's not Sam's alt > $GPT2 nukes > Jingtao deletes his tweet and tells us to do whatever we want"
Sponsored Post - Lil Nouns Fund $5500 Clean Water Nigeria Initiative
Lil Nouns DAO has passed a $5500 proposal to fund the a clean water initiative in Orudu, in the Ogun state in Nigeria.
Many diseases have occurred in the region because of the lack of access to clean water.
As such, this prop aims to provide reliable access to clean water in areas facing water scarcity or inconsistent supply, while utilizing renewable solar energy to minimize operating costs and environmental impact.
the location
How will the team go about it?
The team will drill a borehole, install a solar pump, and set up basic infrastructure for water storage and distribution.
(Solar-powered pumps are ideal for remote or off-grid areas because they rely on renewable energy, reducing the need for electricity or fuel!)
The water will be stored in an elevated tank for easy distribution to the community.
Solar pump and solar panels
Yet again, another example of Lil Nouns DAO doing something wonderful for a community in need!
If you are curious about contributing to a cutting-edge DAO and getting paid to bring your ideas to life: check out our website.
Notable Sales - Penguins, Punks, Botto
Pudgy Penguin, Wizard - 11 ETH
CryptoPunk, Tophat - 50 ETH
CryptoPunk, 6 trait - 80 ETH
CryptoPunk, Purple Hair - 33.45 ETH
6 Botto pieces sell for a total of $351,000 at Sothebys
Investment Focus - “All Roads Lead To Inflation”
hard takes to swallow from billionaire hedgefund manager Paul Tudor Jones yesterday.
a must read for takes on US politics, markets & BTC (and I would highly recommend listening to the full interview at the link below, it’s 30 mins):
- markets suggest trump will win, but betting markets are likely to be skewed by republicans
- pjt is positioned for trump victory, mainly as a consequence of polling numbers
- pjt is betting that 'all roads lead to inflation'; debt is completely out of control
- us are handing out tax cuts 'like they are mardi gras beads' - completely unrealistic - they have "0% chance of being enacted"
- to the point "life is relative, you could buy bonds from US, or you could buy bonds from someone that isn't the US" pjt says: "or you could not buy bonds"
- calls the market an "economic kayfabe" - a wrestling term which represents the acknowledgement that the fight is staged/fake
- pjt is not owning any fixed income (bonds) - and will be "short the back end"
- US, because it has been world market leader and promoted entrepreneurship so well, foreigners own $20T of US assets more than US owns of foreign assets - that capital could have 'wings on it' - meaning foreign capital has so significantly invested in US, which means if something changes, that capital could fly
- trump and harris are two people 'least suited for the job ahead of them'
- says "we are going to be broke really quickly unless we get serious about our spending issues"
- advocated broad tax rate rises if administration wants to stabilise debt to gdp
- advocated interest rate cuts if administration wants to stabilise debt to gdp as it reduces debt repayments
- the playbook to get out of this: "you inflate your way out"
- because "all roads lead to inflation" he is long "gold, BTC, commodities"
Have a great day,
B
Disclaimer: The content covered in this newsletter is not to be considered as investment advice. It is for informational and educational purposes only.
I hold some of the NFTs mentioned in these newsletters