PLUS: Digital asset funds see 10 straight weeks of inflows ð° December 05, 2023 | [Read Online]( Todayâs edition is brought to you by [Tea]( - a packaging infrastructure putting open-source developers first and rewarding them for their contributions. [Participate in their upcoming testnet!]( GM. This is Milk Road, where we make the crypto market sound like a bedtime story, minus the sleeping part. Hereâs what we got today: - Bitcoin re-enters the top 10 most valuable assets in the world ð - Digital asset funds see 10 straight weeks of inflows ð° - 23 years ago, the news was calling the internet a âfadâ ð° - MicroStrategyâs Bitcoin holdings pass $2B in profit ðª
[Prices as of 9:00 AM ET. Click here for our Fear & Greed Index]( BITCOIN IS THE 10TH MOST VALUABLE ASSET IN THE WORLD ð Ladies & gents, [Bitcoin]( is now the 10th most valuable asset (by market cap) in the world.
[Source: companiesmarketcap.com]( Itâs honestly pretty crazy to think about. Over the last 10 years, Bitcoin has⦠- Plummeted by 80%, multiple times. (btw, you can check out the top 7 biggest BTC crashes of all time [here](). - Survived multiple âindustry nukesâ. The largest crypto exchange (Mt.Gox) collapsed. The fastest-growing stablecoin project (Luna) imploded. Multiple exchanges and hedge funds went belly up and filed for bankruptcy. - Been blamed for funding illicit activities. âLittle Jimmy used doggy coin to buy pot last week.â - Been banned by multiple countries. If âChina Bans Bitcoinâ was a movie series, itâd have more sequels than Fast & Furious. ⦠and through it all, Bitcoin still has a $800B+ market cap and is one of the top 10 most valuable assets in the world. Impressive. [EVERYBODY LOVES A CHALLENGEÂ]( Sip back and relax, because [tea]( is brewing up some delightful rewards for you! Choose your quest, take on one of our daily challenges, and steep yourself in the satisfaction of sweet rewards. ðµ And rewards are what [tea]( is all about. The legendary open-source developer Max Howell, creator of Homebrew, founded tea because he understands the reality faced by open-source maintainers (if you're lucky, Google [might send you a blanket](). ð Max designed tea to empower open-source developers to reap rewards for their hard work. The launch of the tea incentivized testnet marks the first step toward turning that dream into reality. The best part? Anyone can participate and earn points, which may have assigned value in the future. [Learn how you can participate in their incentivized testnet!]( DIGITAL ASSET FUNDS SEE 10 STRAIGHT WEEKS OF INFLOWS ð° CoinShares is a European asset manager that specializes in digital assets. - Launched the first regulated Bitcoin hedge fund. - Launched the first [exchange-traded Bitcoin product](. - Holds $2B+ across its two crypto-exchange-traded products. And each week, CoinShares drops a report on how much money gets put into digital asset investment products. Itâs a good way to gauge institutional interest in crypto. Well, the latest results are inâ¦$176M in total inflows.
[Source: CoinShares]( Hereâs everything you need to know about the latest report: - Itâs the 10th straight week of inflows. In that span, thereâs been $1.76B invested into digital asset products. - Itâs the largest run of inflows since October 2021. Which also happens to be the same year the first futures-based ETF launched in the U.S. - [BTC]( led the way with $133M in inflows. Another week, another big inflow. - [ETH]( saw another week of inflows. Thatâs now 5 straight weeks of inflows, totaling $134M. Milk Road Prediction: Not only will next week be another week of inflows (making it 11 straight) but itâll be the largest weekly inflow of the year. You heard it here first. 23 YEARS AGO TODAY, THE INTERNET WAS A âFADâ ð° Todayâs a historic day. Itâs (unofficially) National âLaugh-At-Everyone-Who-Said-The-Internet-Was-A-Fadâ Day. You see, 23 years ago, Daily Mail published this⦠P.S. - in case you donât know, Daily Mail is one of the most popular newspapers in the U.K. P.P.S. - if you donât know what a newspaper is, itâs how people used to get the news back in the day. No emails. No phones. It was all on paper, baby! And some kids would ride their bikes doing drive-bys, tossing the newspaper at peopleâs front door steps. Anyway, here are some of my favorite quotes from the article: - âTeenagersâ use of the Internet has declined. They were energized by what you can do on the net but they have been through all that and then realized there is more to life in the real world and gone back to it." - âThe internet may be only a passing fad for many users.â - âThe future of online shopping is limited.â (Hmm.. my wifeâs credit card statement begs to differ). In the 2000s, it was the Internet being called a fad. Today, itâs crypto. BITE-SIZED COOKIES ðª [MicroStrategyâs BTC holdings surpassed $2B in profits](. The software company (that no one knows for being a software company) holds 174,530 BTC. [El Salvadorâs Bitcoin investment is in the green zone.]( According to recent data, El Salvador has accrued an unrealized profit of $3.6M. [Societe Generale issued its first âgreen bondâ on the Ethereum blockchain](. The bond has a maturity of three years and amounts to $10.8M. [Franklin Templetonâs CEO, Jenny Johnson, says sheâs personally invested in multiple cryptocurrencies like BTC, ETH, UNI, and SUSHI](. Here you go queen, you dropped this⦠ð [Blur is now dominating ~80% of NFT trading volume](. OpenSeaâs market share has plummeted down to ~17%. [The Sandbox is teaming up with Notorious B.I.G.âs estate to launch a new metaverse experience](. Itâs called âBreakinâ B.I.G.,â and allows players to navigate various âquestsâ like helping out around the virtual Brooklyn community and confronting B.I.G.âs rivals. [Brazilâs largest private bank, Itau Unibanco, is launching crypto trading services](. The bank announced it will start with buying/selling BTC and ETH. MILKY MEMES ð¤£
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