Surf’s up. We got a gnarly Bitcoin swell on the horizon. Our boards are waxed and we’re ready to get absolutely pitted.

See, nobody wants to miss their shot.

And surfers don’t mind if they miss a wave, because, hey, there’s always another one coming.

But if you miss out on this Bitcoin wave, you’ll be waiting years for another one like it.

Espresso Shots

☕️ BlackRock CEO on Bitcoin 💼🤔

Larry Fink, the CEO of BlackRock, claims that Bitcoin has the potential to “evolve into a global market”.

This announcement comes, of course, after Bitcoin has very much been a global market for fourteen years.

But Fink, despite his company’s recent application for a Bitcoin spot ETF, may be a little slow on the uptake.

In a 2018 interview with Bloomberg TV, Fink said that crypto’s main utility was that “It identifies how much money laundering is being done in the world [...] How much people are moving currencies from one place to another.”

We look forward to Fink’s coming declarations on the potential of the automobile to revolutionize travel, despite his earlier statements that cars were “devil machines that eat horses.”

☕️ First Leveraged Bitcoin ETF Approved 📈💸

The SEC has approved the first Leveraged Bitcoin Futures ETF.

The ETF is called Volatility Shares 2x Bitcoin Strategy ETF (BITX) and doesn’t that just roll off the tongue?

BITX is scheduled to launch today, June 27, 2023, on the Chicago Board Options (CBOE) BZX Exchange.

The SEC has a history of shooting down applications like these, but BITX is different from previous Bitcoin spot and Bitcoin futures applications, BITX is a leveraged futures application.

This means that BITX uses Bitcoin futures as leverage to increase the returns of a benchmark index.

Though some critics, like Co-Founder of the ETF institute Nate Geraci think it’s strange that a leveraged futures ETF would launch before a straightforward futures ETF, it’s still an exciting development.

We’re just happy for Chicago which now has something to be proud of other than glacial winds, lasagna pizza, and over-vegetabled hot dogs.

☕️ Binance out of Austria 🇦🇹📉

Binance has now pulled out of Austria after withdrawing its application for a crypto license.

Binance has remained hush-hush on its reasoning, but said in a statement to Blockworks that:

We are unable to share details of our conversations with regulators, however we remain committed to acting in compliance with our obligations wherever Binance operates. Our current focus in Europe is on ensuring that we will be in full compliance with the requirements of MiCA when it is implemented at the end of next year.

Despite the exchange's efforts for compliance, Austria is just the latest in a series of regional withdrawals, including Canada, Belgium, the Netherlands, Cyprus, and Australia.

If Binance was playing a game of “Risk,” this is roughly when it would start saying the game is “boring and stupid anyway” and that it has to get home in time for dinner or mom will be mad.

Spilling the Beans

The Bitcoin Wave You’ll Probably Miss… 🌊 🤑

Finance is an ocean.

It ebbs and flows, there are waves and tides. It’s vulnerable to storms and filled with cold-blooded sharks ready to eat the unwary.

But if you can learn the proper navigational techniques, you’ll be able to ride those waves to fantastic treasures.

But more important than knowing how to ride a wave is charting when it will arrive.

And if you miss this coming Bitcoin wave, you’re going to have to wait a long time for another chance.

Another four years, in fact.

If you haven’t guessed by now, we’re talking about Bitcoin halving. Specifically, the next Bitcoin halving cycle in April of 2024.

If you’re going to catch this wave, you need to start prepping now.

For a quick refresher, a Bitcoin halving occurs every four years and halves the block rewards that miners receive for mining Bitcoin.

On paper, it sounds like it should kill enthusiasm for Bitcoin, but it actually has the opposite effect.

Previous Bitcoin halvings, like in 2016 and 2020, both caused Bitcoin bull runs in the periods after the halvings.

By lowering the rewards for production, Bitcoin halving drives up Bitcoin’s scarcity and therefore its price, ensuring that Bitcoin remains a sought-after and valuable commodity.

And some big names have been weighing in on the event. JPMorgan released a report last Thursday detailing the upcoming halving.

JPMorgan claims the halving “would mechanically double bitcoin production cost to around $40,000, creating a positive psychological effect,” according to lead analyst Nikolaos Panigirtzoglou.

It’s a glowing prediction and those numbers are backed by the strong retail interest in Bitcoin from the TradFi institutions wading into crypto.

Coupled with Bitcoin’s reputation as an inflation hedge amid an American economic downturn, those developments mean that 2024 could be the beginning of Bitcoin’s road to the $60,000 price points of yesteryear.

But you’re still wondering when we’re going to tell you how to catch that wave.

Making money off a Bitcoin halving is… actually pretty simple.

As we’re going to remind you later on, this newsletter does not constitute actual, legal investment advice.

But theoretically, if you were pretty certain that a stock was going to rise in price because of an event that happens every four years to ensure that stock’s economic health, you’d buy and sell that stock accordingly.

Theoretically.

Set alarm. Put a countdown on your phone. Pencil in a reminder on every day of your calendar leading up to April 2024.

Because this is an opportunity you don’t want to miss.

Remember those cold-blooded sharks we mentioned?

Taking advantage of this Bitcoin halving could be your chance to swim with the big boys.

Miss out and you’re just another anemone, floundering in a tidal pool with the other invertebrates.

Meme of the Day

Crypto 101

Benchmark Index: These are composed of a selection of stocks, securities, or other assets and are intended to represent how an entire market is performing.

Benchmark Indexes serve as helpful tools to determine how a particular asset is performing against the broader market.

Examples of two better-known benchmark indexes are the S&P 500 and the Dow Jones Industrial Average.

The Last Sip

The Last Sip: In honor of the Bitcoin halving generating a wave that you may still miss, we’ve compiled a list of the three worst waves of all time.

3. The wave at a baseball game. Just sit down. Have a beer. We get that you’re bored and ready for the game to be over, but if this circulates the stadium more than four times it’s basically a case of mass psychosis.

2. The tsunami that rocked Indonesia in 2004.

1. When you wave at someone who was actually waving to someone behind you. They mercifully ignore you while you turn beet red and wish desperately for a tsunami.

Stay Caffeinated,

Coffee & Crypto Team

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.☕️ The Bitcoin Wave You’ll Probably Miss… 🌊 🤑