💰 BTC breaks $30,000 as Michael Saylor breaks even

plus Plutus DAO's Arbitrum DAO Consortium & is Pendle Fi deploying on Berachain?

GM Bitcoin bulls,

Bitcoin pumps to $30,000, Saylors BTC bags FINALLY turn green and CPI data comes in at 5% on the eve of the Solana Saga Mobile release.

Total 2 is teasing resistance, ETH/BTC chart has broken support and BTC.D wants to make a run for it. It’s only Wednesday and today’s CPI numbers could gift us with more up only or send us into the depths of goblin town.

In the meantime, a shout-out to this HXRO Network discord legend!

Thanks Circa, what a HXRO!

PS. Our friend won a Ribbon Finance article competition and is giving away his prize to 1 lucky subscriber who refers a friend to the newsletter 🫡

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Here's what's inside today.

The big topic. 

💰 BTC breaks $30,000 as Michael Saylor breaks even

DeFi insights & project updates.

🖼 Plutus DAO releases the Arbitrum DAO Consortium
📅 Pepes Game secured Ouroboros Capital as a strategic partner
🦧 Degen corner: $ETH Chart, the Shanghai bulls vs the bears

Hot off the press.

🐮 El Salvador gifts Bitfinex the first “Digital Asset License”
🐻 Justin Sun’s Hong Kong Arrest FUD
👨🏻‍💼 What the FED?! CPI & FOMC meeting minutes today, PPI on Thursday.

Plus Twitter reads from @Landfsmile, @nay_gmy and @0xMughal!

🔥 The big topic.

💰 The Rise, Fall and Rise Again of Michael Saylor’s Bitcoin Bag

Bitcoin bangs back above $30,000 breaking even for Michael Saylor’s $4bn+ bag of laser eyes bullish Bitcoin.

And I slept through the whole event… let’s just hope that by the time this is published, Bitcoin hasn’t done us a doozy and dumped.

Right now, who’s in greater disbelief? The bulls, Il Capo or…

NEWS JUST IN: Saylor waking up to his green Bitcoin stack yesterday morning.

Tbh, you could probably make a movie out of the rise, fall and rise (hopium still needed) of Saylor’s Bitcoin holdings.

And just imagine if he was an Ethereum maxi who took advantage of staking and then the LSD narrative.

Ouch…

Saylor’s Bitcoin relationship.

Hasn’t always been fruitful and the gamble of accumulating 140,000 Bitcoins still hasn't paid off…

Just look at what could have been with Ethereum staking.

In July 2020 Saylor announced his intentions to investors during a Microstraegy (MSTR) call to accumulate Bitcoin, Gold or alternative assets with the companies cash pile and in August 2020 he began his monstrous rise as becoming the most famous Bitcoin Maxi on Twitter buying 21,454 Bitcoins.

Historical buys of MSTR | created by excavo

Fun fact… at the time of the 2021 highs he had accumulated 122,478 BTC worth $8.48bn.

And we all know what happened after that… down only and diamond handed with conviction.

Now picture Balaji’s $1m Bitcoin prediction coming true in 64 days.

Why so bullish?

Bitcoin is the solution.

MSTR stock price did an 8x during the early days of Saylor’s buying sprees. MicroStrategy is a “way to invest in the digital transformation of money” as “money is tech that allows us to transfer economic energy through time and space.”

Basically, investors can speculate on the future of finance and if Saylor will be the one to lead it. Plus the stock is heavily tied to the way the crypto markets go.

The Lightning Network is another reason to be bullish as MicroStrategy is building an “enterprise lighting solution” which lets companies move money “at the speed of light” via The Lightning Network.

$4bn says he has to be… as he has built a personal brand by being the biggest diamond-handing Bitcoin bull out there. Even when crypto Twitter was laughing at him he still held with conviction.

Bitcoin, is the world's most widely-adopted cryptocurrency, a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.

For his sake, I hope the last part is true!

Saylor meme of the day.

This is 2:07 mins of your life that will NOT be wasted on another Twitter meme!

Our take.

Saylor was a genius at the top, a nut job at the bottom and starting to make sense at break even. Whether you like him or not he has brought a lot of attention to Bitcoin, The Lightning Network and the economic digital transformation that's happening on a global scale.

Hindsight would point out that buying Ethereum, staking it and then being one of the Arbitrum OGs from day 1 would have been the play of the century creating wealth beyond comprehensible measure.

But then again… where would the fun have been in all that.

We must say that Saylors's conviction to diamond handing Bitcoin and developing the Bitcoin blockchain is admirable and shouldn’t be faded. Plus he can finally quit the day job at Mc Donalds.

👀 DeFi insights & project updates.

The World of DeFi

  • Camelot Dex welcomes Silo Finance to the round table with incentives now live. Lexer Market’s public sale launches on April 14th using a price-discovery model. (Twitter)

  • Degen Ape Academy’s V2 is fast approaching as @Degencierge gives a breakdown of what V2 means for you. (Twitter)

  • Ethos Reserve hit $5m TVL, launched incentivised pools and a community-made Dune Dashboard. (Twitter)

  • Lodestar Finance launches a threadooor competition ending April 15th whilst integrating their plvGLP vault with Plutus DAO. (Twitter) (Medium)

  • Merlin Dex a Camelot Dex fork on zkSync will be launching anytime soon. Keep an eye on the official Twitter account for details. (Twitter)

  • Orange Finance is an Automatic Liquidity Management protocol on Arbitrum and word on the street they’ll be launching in the next 2 weeks. (Twitter)

  • Pendle Finance leaks a screenshot of potential up-and-coming chains to expand to possibly Polygon, Avax, Berachain, and Optimism (unconfirmed). (Twitter)

  • Pepes Game secured Ouroboros Capital as a strategic partner, has raised over $1m in their public sale, added 2 new team members and hint at airdrop quest alpha in discord. (Twitter) (Quest)

  • Premia has officially re-vested their team tokens for another 4 years ahead of their V3 launch. (Twitter)

  • Solana Saga mobile officially launches tomorrow. (Twitter)

  • UniDex’s March dev update includes UniV3 on Fantom, zkSync trading competition, SwapsV3 stress test rewards and more on Magma testnet… the April Fools update might be true. (UniDex) (April Fools)

  • Unstoppable DeFi released its Q2 roadmap. (Twitter)

Governance Updates

  • Arbitrum AIP 1.05 proposes the return of the 700m $ARB tokens to the treasury, buyback $ARB tokens with the remaining $10m in stables and release details of the Wintermute deal, voting ends April 15th. (Snapshot)

  • Plutus DAO releases the Arbitrum DAO Consortium with the goal of bringing together DAOs, delegates and users to discuss and govern Arbitrum effectively. (Medium)

  • Velodrome failed to pass the vote to become StarGates hub on Optimism with only 67% in favour. (Snapshot)

📊 Degen corner.

$ETH, the Shanghai bulls vs the bears…

ETH 1D Chart | Trading View

Welcome to the degen corner. In each edition, we’ll feature something degen, from charts to TLDR project reviews to speculative opportunities.

We are hours away from the Shanghai upgrade… but who’s magnet will be stronger?

Bull case. Dump ‘n’ pump testing the $2,000 mark and beyond.

Bear case. Pump ‘n’ dump heading back down to $1,750 and below.

🗞 Hot off the press.

🐮 Bullish News

  • Games tech company Razer launches “zVentures Web3 Incubator” which targets early-stage blockchain-based gaming infrastructure. (Twitter)

  • El Salvador gifts Bitfinex the first “Digital Asset License” allowing the exchange to offer tokenized shares and yield-bearing assets. (Coindesk)

  • Sushi Swap to return funds after last weekend’s exploit. Funds in the white hacker contract are to be returned. Funds in the black hacker contract are to be reviewed on a case-by-case basis. (Twitter)

🐻 Bearish News

  • Ren Protocol rugged by FTX as they are forced to hand over all assets after a funding deal was made back in February ‘22. Ren will be looking to secure additional funding for Ren 2.0 which has no affiliation with FTX. (Coindesk)

  • South Korean Exchange Gdac Hacked for close to $13m, 23% of its custodial assets. (Coindesk)

  • Justin Sun’s Hong Kong arrest FUD, posts “4” shortly after the fake news hits Twitter. Binance.US also delist the TRON token. (Coindesk)

👨🏻‍💼 What the FED?!

A massive day today, CPI figures leading into the FOMC meeting minutes which give a recap of the previous FOMC meeting. The minutes include detailed insights into the FOMC's stance on monetary policy.

🐥 Twitter reads.

@Landfsmile takes a look at 2 Time Based Deriviate (TBDs) protocols that have caught a lot of attention in the lead-up to the Shanghai upgrade today.

@Nay_GMY answers the question… who the heck is DWF labs? Breaking down what they’ve been doing, digging into the on-chain data.

@0xMughal breaks down Redacted Cartels Dinero litepaper.

And on that note, thanks for reading, catcha apes in the next edition!

blocmates team 🫡

🤝 A final word.

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