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💡If you missed BTC and ETH...

💡If you missed BTC and ETH...

PLUS: Sam Altman enters crypto

Alex M.
May 29, 2023

GM everyone. This is 2036, the newsletter that pays you.

Here’s what we’re serving up today 🍲: Last week, CoinMarketCap listed a new coin - $OXBT. It shot up 10X in just 48 hours. It was unique in that it was both a) free to claim and b) a bitcoin token.

Bitcoin tokens are taking the crypto world by storm. Are they the next big thing?

Let’s dig in.

🥔 Today’s meat and potatoes

Get smarter on crypto in 2 minutes

Once in a while, a new paradigm comes along in crypto that mints millionaires left and right.

From 2009 to 2013, it was bitcoin
In 2017, it was Ethereum
In 2021, it was DeFi and NFTs

In 2023, bitcoin tokens have crawled onto the world stage and caught fire faster than the Mockingjay.

No Lenny Kravitz was hurt in the production of this gif

You see - without getting too technical - Ethereum is just software that allows you to build things with it. And most crypto tokens are built using Ethereum.

But earlier this year, a bunch of smart folks found a way to inscribe tokens on the Bitcoin blockchain using something called the Ordinals protocol.

Some of these have pictures and videos i.e. they are bitcoin NFTs.

And others are text-based.

These text-based tokens are called BRC-20. And they’re growing…fast.

At the time of writing, they have a total market cap of about $400 million.

But if the market cap of bitcoin tokens reaches that of Ethereum tokens, we’re in for a wild ride. It’s a 300X from here.

Here’s the catch:

Most BRC-20 tokens are memecoins
Most will go to 0
ALL these tokens are extremely high risk, and your potential downside is 100%

a.k.a if crypto is the wild west of finance - and altcoins/NFTs are the wild west of crypto - then BRC-20s are the wild west of altcoins and NFTs.

You’ve been warned.

Memecoins, however, are having a moment.

Ethereum memecoins - like $PEPE - were the first to shine this year.

But now, Bitcoin memecoins like $ORDI and $OXBT are getting on people’s radar.

Of course, this could be just another fad. In a month, all coins could have gone to zero.

But just like NFTs ended up sticking around, bitcoin tokens could have staying power too.

We believe a good crypto portfolio is 50% bitcoin, 50% Ethereum. But once in a while, we’ll swing for the fences (mostly for fun) - and BRC-20 could be one of the swings.

That’s why we covered $PEPE too. Since we first wrote about $PEPE, it’s up 22X (you’re welcome).

In 2021, the no-brainer move was to buy NFTs. In 2023, it could be Ordinals and BRC-20 tokens. But no one knows. Hindsight is always 20/20.

We’ll put out some tasks and tutorials this week to help you safely buy BRC-20 tokens if you want to take the risk.

In the meantime, if you think it will all go to zero but you want to capture the upside - just in case - you can just hold bitcoin.

Like NFTs were a leveraged bet on Ethereum, BRC-20s are a leveraged bet on bitcoin.

More coming very soon 👀.