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  • 12/4/23: Qatar's $500B Rumor 🇶🇦🇸🇻🚀

12/4/23: Qatar's $500B Rumor 🇶🇦🇸🇻🚀

Author

Valko
December 04, 2023

Top News

  1. 🇶🇦 Qatar Sovereign Wealth Fund is looking to buy $500B Bitcoin

  2. 🇸🇻 El Salvador’s BTC is at $3.6M in profit with “no intention of selling”

  3. 🚀 Blast hits $720M TVL, becoming 3rd largest staked ETH holder

Specs Insights

1. 🇶🇦 Qatar Sovereign Wealth Fund is looking to buy $500B Bitcoin.

⌐◪-◪ → $500 Billion Dollars. That’s how much BTC Qatar’s Sovereign Wealth Fund is allegedly planning to buy.

The rumor comes after a meeting between Qatari Emir & El Salvador’s pro-BTC President. For context: this is 2x Qatar’s GDP or 57% of BTC’s market cap.

Traders say they’re already facing off with Qatar and other Middle Eastern investors in the market, which explains BTC’s recent surge.

If the rumors are true then Bitcoin is officially the new oil.

2. 🇸🇻 El Salvador’s BTC is at $3.6M in profit with “no intention of selling”

⌐◪-◪ → El Salvador is leading the crypto charge with its BTC friendly attitude, followed closely by Argentina and their newly elected pro-BTC president.

El Salvador has been buying 1 BTC every day since November 2022, timing the bear market perfectly.

I think El Salvador’s bullishness is contagious - with Brazil’s largest bank adding crypto trading and the above rumors of Qatar’s $500B BTC purchase. Bullish.

3. 🚀 Blast hits $720M TVL, becoming 3rd largest staked ETH holder

⌐◪-◪ → Blast is officially the 3rd largest staked ETH (stETH) holder after AAVE.

This could prove to be troublesome from a centralization standpoint, but perhaps its too soon to speculate/fear monger.

Zooming out - this puts Blast between Solana ($680M) and Optimism ($794M) in terms of total value locked

While Ethereum is still king with $28B TVL, Blast is quickly gaining ground on the other Top 5 blockchains.

Peripheral Vision

⛓️ Crypto & DeFi

  • Crypto market cap back to $1.5T for the first time since Luna collapse

  • BTC is now a top 10 asset by mkt. cap, larger than Berkshire Hataway

  • Osmosis & Umee UX Chain propose merger for Cosmos DeFi Hub

  • Binance re-opens withdrawals for 12 delisted tokens

  • Mantle’s liquid staking protocol, Mantle LSP, is now live

  • Solana DEX aggregator Jupiter starts airdrop with 10% of supply

🏦 Wallstreet & VC

🏛️ Legal & Regulatory

  • Federal judge threatens to sanction SEC lawyers for false pretenses

  • Duo behind $9M Platypus exploit acquitted by Paris court

  • US lawmakers scramble to get crypto provisions in end-of-year bills

🌎 Rest of the World

🖼️ NFTs & Metaverse