Honey, We’re Fartcoin Millionaires!

Move over, DizzyWhale…

There’s even more craziness happening in the world of crypto.

And I’m not just talking about MicroStrategy (Nasdaq MSTR) entering the Nasdaq-100 today.

As I told you last Friday, this move is going to help perpetuate the infinite money loop that drives MicroStrategy’s bitcoin (BTC) investing strategy.

That’s because any ETF that mirrors the Nasdaq-100 will have to add MicroStrategy stock.

Of course, that means the stock will likely go up with more buyers. Which means Chairman Michael Saylor has more capital to buy bitcoin.

And the infinite money loop keeps spinning.

But I believe there’s a bigger story here…

Saylor and MicroStrategy have legitimized bitcoin as a financial asset.  He’s made bitcoin into something investors will accept as collateral, which can be borrowed against.  Like how you would borrow against your house for a mortgage or against your car for an auto loan.

And this makes a great bookend for 2024.

Remember, we began this year with the approval of bitcoin ETFs. That made it possible for anyone with a brokerage account to gain exposure to bitcoin.

And now, MicroStrategy’s inclusion into the Nasdaq-100 has legitimized bitcoin as an asset that’s acceptable for Wall Street to lend against.

We will look back at 2024 and think of it as the year crypto started eating the financial system.

Of course, bitcoin is just a distraction.

When it rallies, smaller altcoins tend to rally even more.

Speaking of which…

Let me catch you up with the latest crypto craziness.

Did He Say Fartcoin?

Last Tuesday Degen News — an account that shares meme coin information — posted this message on X:

You’re reading that right. A two-month-old meme coin called Fartcoin reached a $900 million market cap.

To put that into perspective, MicroStrategy’s market cap was only around 30% larger than that when it started buying bitcoin in 2020.

But MicroStrategy was already a 30-year-old software business by then.

Anyway, this new Fartcoin got the attention of a gold and silver investor who was convinced that meme coins like Fartcoins are a scam.

So what did he do?

Naturally, he created his own meme coin called Unicorn Fart Dust.

I’ll let X user @RealAceSpadez explain what happened next:

This is actually hilarious apparently a boomer whos a gold and silver maxi heard about $Fartcoin hitting 500m Market cap and decided to create his OWN memecoin as social experiment in the crypto space named “Unicorn Fart Dust” $UFD cause that’s how he sees money in crypto as nothing but that