🚀 Bitcoin: 9th in Global Value! Passed Silver Briefly! 📈

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Welcome back to Bull Market Bytes, your weekly cryptocurrency insight where we search for the latest Solana-based token and YOLO our rent money at it!

⚠️ Disclaimer: We do not recommend doing that! 😄

Exciting topics for this newsletter!

📰 Bitcoin Passes Silver?!

😮 Dr. Wright is not Satoshi

📌 Bull Market Bulletin

📚 Weekly Lesson: Market Cap

Fun Fact of the Day 🤓

The total supply of Bitcoin is 21 million and it will never surpass this number!

That is not the fact of the day, keep reading… 😄

There are 3 things that will hold true in this lifetime:

We will all pass, we will all be taxed, and Bitcoin will never surpass 21 million. 😂

Since the last Bitcoin reward halving in 2021, there have been 1,312,500 Bitcoins mined into existence.

Every 4 years, the Bitcoin brought into circulation is cut by 50% until we hit the 21 million Bitcoins.

…however, we won’t reach 21 million Bitcoins…

Until the year 2140! 🤯

Questions on Bitcoin Mining? Check out our latest education lesson on it here!

📰 What Happens Once We Reach 21-Million Bitcoins?

Bitcoin Passes Silver?! 🔥

Bitcoin continues to turn heads as it breaks the all-time high and holds strong.

This is a very exciting time to live in! 😊

Many crypto investors have been dreaming of this day, and through all of the dips and heartache…

…and nights crying in the shower…

We have finally made it! 🥳

Congratulations to everyone new to crypto that has not yet had to experience that.

…We hope you never have to! 😅

When people think of long-term investments, they think of Gold, Silver, and even investing in Real Estate.

Bitcoin is now establishing itself as a top hold choice…

…as if it wasn’t already. 😂

With Bitcoin’s push over $73,000, it overtook Silver and became the #8 most valuable asset by market cap in the world! 🚀

Also, the second largest ETF commodity in the US!

⭐ Interested in learning more about market cap, click here for this week’s education lesson!

Granted, since the recent pullback, Bitcoin is now #9, but that doesn’t mean that it won’t happen again! 😄

The overall target is Gold, which is currently #1.

Bitcoin, also called “digital gold”, would be more fitting at #1 or #2. 😎

If Bitcoin did have the market cap of Gold, each Bitcoin would be worth a mind-blowing $745,859! 🤯

Dr. Wright is NOT Satoshi 😮

The official verdict has been passed and Craig Wright…

…Drum roll, please! … 🥁

Is NOT Satoshi Nakamoto!

For anyone not familiar with Satoshi Nakamoto, that is the name that the creator of Bitcoin went by.

…it is like his code name. 🎭

Dr. Wright has made claims that he is Satoshi since 2016 and 8 years later we have the ruling that he is not Satoshi…

However, just because a judge said that does not necessarily mean that it is true…

However, however… 😅

The majority of people in the crypto community are excited for this ruling.

They have called him a fraud and a manipulator, and he was only using this claim for personal gain…

Either way… 😬

Below is a video on YouTube from 2016 showing his claims of being Satoshi Nakamoto and stating that he does not want fame or money…

Even though he asked for the reporting team to interview him, and he eventually took the case to court… 🤦‍♂️

Either way, what are your thoughts?

Do you think that he is actually the creator of Bitcoin or just a fraud? 🤔

Bull Market Bulletin 📋

Click below to read more into each story! 👇

Analytics Predict Bitcoin Will Pull Back to $45,000. Cryptocurrency is experiencing an amazing pump, but a drop will happen sooner or later…

Bitcoin is More Desired in Portfolios than Gold! According to JP Morgan, Bitcoin surpasses gold in portfolio allocation.

El Salvador Moves $400 Million in Bitcoin to Cold Storage. El Salvador moves more than 5,000 Bitcoins stored in a cold wallet to a physical vault for safe keeping!

Qatar’s $500 Billion Bitcoin Investment Seems Unlikely. Even though it is not impossible, it may be more difficult to be approved than expected.

Sam Bankman-Fried Requests 6 ½ Years in Jail…Prosecutors Want 40-50 Years! The man behind the FTX $8 billion crash is being prosecuted for losing millions in customer’s funds.

US Senators Pressure the SEC NOT to Approve More Crypto ETFs! US Senators are telling the SEC that approving additional ETFs would be harmful and may jeopardize the safe keeping of investor funds.

Will Ethereum ETFs Surpass Bitcoin ETFs in Popularity? With the possible approval of spot Ethereum ETFs in May, speculation is that they may outpace the spot Bitcoin ETFs.

What is Market Cap? 📚

Market capitalization, or market cap, is a variable that is normally viewed before entering any investment.

⭐ The equation used for finding the market cap is, price times the circulating supply.

With any cryptocurrency asset, there will be a market cap that is associated with it as shown in the image below.

When someone is looking into investments, the market cap shows the total value of the crypto or asset.

Many investors look for “Small Caps” or cryptocurrencies that have a low market cap in hopes that it spikes in price. 💰

In hopes for it to be the next 1,000X crypto…

Long-term investors may look for more established cryptocurrencies with higher market caps called a “Large Cap”.

The return on investment (ROI) may be less, but it is more secure. 🔒

For investments, everything needs to be in proportion.

Assuming a crypto will go to $1,000 from 1 penny normally doesn’t make sense. 🤔

For Example: Throughout the years, XRP has been stated that it will supposedly go to $500+.

Let’s say that XRP does go to $500 each…

With a circulating supply current at 54,800,189,217, that would mean that the market cap would be…

$27.4 trillion! 🤯

That is 20X higher than Bitcoin’s market cap…that is NOT in proportion.

Doesn’t mean it isn’t possible…but not anytime soon…

🧠 Remember: Low market caps, or Small Caps, are normally riskier but have more profit potential.

High market caps, or Large Caps, are normally less risky but have less profit potential.

Ready for your Lesson Review?

📚 Make sure to review the lesson above before answering!

Question: What is the equation for finding the market cap of a cryptocurrency?

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