Now, we’ve all heard of bull runs.
But what happens when a cryptocurrency goes positively nuclear?
And this is no exaggeration, we’re going to examine the potential profit of radioactive Bitcoin in today’s deep dive.
Since you know so much about us, we thought it was time to learn a little bit about you. Tell us about your crypto experience! 👇
Where Are You On Your Crypto Journey?
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☕️ The Debt Deal and BTC 💰 💳
The upcoming United States debt deal to raise the debt ceiling may negatively impact the price of Bitcoin.
Once the debt ceiling is raised, the U.S. treasury will attempt to raise more capital by issuing government bonds and these kinds of growing bond yields have historically lowered the price of investment hedges such as Bitcoin and gold.
And though at times it seemed that the debt deal would actually be great for the crypto market, as crypto traders could sell their crypto at a loss to offset capital gains tax from crypto earnings… but Joe Biden has explicitly said that he’s not going to let that happen.
“I’m not going to agree to a deal that protects wealthy tax cheats and crypto traders while putting food assistance at risk for nearly a hundred — excuse me — nearly 1 million Americans,” said Biden.
But contrary to President Biden, when asked to choose between food and crypto, we’re always going to choose crypto. You can consume the blockchain and it is delicious.
☕️ The Price of Pepperoni 💵 🍕
Yesterday marked the 13 year anniversary since Laszlo Hanyecz made the first Bitcoin transaction by buying two Papa John’s pizzas for 10,000 BTC.
By today’s prices, those two pizzas would be worth roughly $266 million. May 22nd is now celebrated as a holiday in crypto and affectionately referred to as “Bitcoin Pizza Day.”
And in honor of this year’s Bitcoin Pizza day, some crypto enthusiasts tallied up the cost of the individual ingredients on those “The Works” pizzas, Papa John’s version of a supreme pizza.
The pepperoni alone would be worth $6.5 million by today’s standards. The onions? A humble $650,000.
The black olives would be worth $3.2 million and even the cheese would be worth $19.4 million, but Laszlo Hanyecz’s decade plus of searing regret? Priceless.
☕️ Ruining the Spirit of Pizza Day 👻 🍕
And though Bitcoin Pizza day is a time to celebrate crypto and how far we’ve come, it would seem that not everyone was in the holiday spirit.
In fact, multiple online grifters thought that the thirteenth anniversary of Bitcoin Pizza would be a perfect time to pull off some Memecoin scams.
By creating fourteen new, pizza-themed Memecoins on Monday alone, scammers have already made off with $200,000 and counting through a series of rug pulls and honey pot scams.
A honey pot in crypto is when a creator makes a token that can only be sold back to the creator. A token that can never be sold is… essentially worthless.
But remember, in any pizza-themed token transaction, if your order takes more than thirty minutes, your token is free.
Spilling the Beans
Profit From Nuclear Bitcoin? ☣🤯
One of the most exciting things about crypto is the sector’s potential to take us to new and unexplored places.
And some of those new technologies are really just new uses for old tech.
But it turns out you can teach an old dog new tricks.
And sometimes that dog’s tricks are powerful enough to destroy the world, several times over.
That’s right folks, today’s story is about Nuclear Bitcoin.
It’s an exciting new crypto trend being pioneered by TeraWulf, which isn’t, as you may have initially assumed, a company that manufactures wolves.
No, TeraWulf is a Maryland-based bitcoin mining company and their latest mine is nuclear-powered.
It’s called the Nautilus Mine, and though it sounds like it should be 20,000 leagues under the sea, the Nautilus Mine is actually located in rural Pennsylvania where it draws its power from a nuclear power plant.
It’s "the first behind-the-meter bitcoin mining facility of its kind, directly sourcing reliable, carbon free, and 24x7 baseload power from the 2.5GW Susquehanna nuclear generation station in Pennsylvania,” reads an official statement from TeraWulf.
The Nautilus Mine is part of TeraWulf’s ongoing initiative to provide Bitcoin mining using clean energy.
TeraWulf’s ultimate goal is to enable domestic Bitcoin mining with 90% zero carbon energy.
And the Nautilus Mine is going to bring them a lot closer to that goal, though there are 8,000 Bitcoin Mines run by the facility’s nuclear power, the Nautilus Mine’s energy costs are staggeringly low compared to the entire Bitcoin mining industry.
The current power contract for the Nautilus Mine outlines that the mine will cost 2 cents per kilowatt hour of power for the next five years.
For comparison, standard Bitcoin mining costs about 9 cents per kilowatt hour.
It means much lower energy costs for TeraWulf and potentially much cheaper Bitcoin for everyone.
But how does this affect you?
Well, this new energy trend may lower the cost of Bitcoin. Additionally, what TeraWulf is doing is incredibly innovative. Businesses like that are usually on the receiving end of some pretty positive attention.
TeraWulf Inc. (WULF) is also a publicly traded company that uses the ticker (WULF).
Remember, this isn’t investment advice. We’re not telling you to buy any stocks.
We just think that as this mine sets a new precedent, TeraWulf may be in a pretty tasty position for this fiscal year.
So, let’s take a queue from the Simpsons and rather than be afraid of nuclear power, let’s all smile and bask in its warm, radioactive glow.
Meme of the Day
It’s only a matter of time until $BitcoinUranium is trending…
Nothing like diving down a memecoin rabbit hole to take your mind off of things... 🔥🚒 https://t.co/MX81hnhi3M
— Coffee & Crypto Daily (@GetCoffeeCrypto)
May 23, 2023
Rug Pull: These schemes are usually oriented around crypto, whether that be a newly created NFT, altcoin, or “memecoin.”
The scammer will create the token and begin accumulating investors’ money by selling their token through viral marketing campaigns before promptly shutting down the entire operation, taking off with the proceeds and leaving investors with literally nothing.
The Last Sip
Today, we’re going to end with a price point roundup of the rest of the toppings on what may have been the most unintentionally expensive pizza in history.
Green Peppers: $960,000
Mushrooms: $1.6 million
Italian Sausage: $2.5 million
Bacon: $3.8 million
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.