Short crypto status quo and my condensed thoughts:

-I would name this short update "now is the time" as I believe BTC is ready to go higher in 2023 and significantly higher in 2024/25.

-Considering that the BTC halving (details here rb.gy/008yd)) is around 9 months away, I believe it's time to add more aggressively to BTC holdings. Be aware that the halving does not necessarily cause the price to spike on that specific block height but usually causes a supply/demand inequilibrium and the upwards move follows a few weeks/months later.

-I do believe that dips below 28-30k will now be bought up relatively quickly. Considering also that inflation has now reached a somewhat acceptable level (truflation.com/),,) China is printing money, the economy probably manages to get away with a soft landing and last but not least BTC ETFs are on the near/mid term horizon (and probably above 50% likely). I am sure you know that pretty much all major Tradfi players have now handed in an application for a BTC ETF. The buying pressure that could arise from an approval would be enormous.

-In terms of key risk factors that are not along the lines of a black swan full out nuclear war I would think that the worst could come from a Binance implosion, SEC wins Ripple lawsuit, SEC goes for another crypto entity eg Kraken or Tether, SEC closes/regulates the stable coin market significantly.

-One further point to mention is also that the case study of El Salvador adopting Bitcoin could become very interesting once BTC moves to 6 digits and basically buys back all its debt in the market at significant discount. Imagine how other Asian, African and South American countries would feel the FOMO once this becomes a reality.

-In terms of my specific crypto holdings I am still 80%+ BTC with some capital allocated to ATOM, PulseChain, Arbitrum. I have depleted most of my stable coin holdings and mostly purchased BTC with that capital.

-I also think that GBTC remains interesting and I have purchased a bunch a month ago when the ETF applications came flying into the SEC office. At a discount of still 35% to the actual BTC price I do think it's a no brainer. There was also some rumours that Blackrock would purchase the whole of Grayscale (owner of GBTC) and I think if this were to happen the discount would instantly be at 0% and if Grayscale will not sell their holdings I do think they believe that they are fine which should also drive the discount to 0%.

-Anyway have a good week. WAGMI