👀 Three things you can't miss this week

GM everyone. This is 2036. We scroll for gems all day so you don’t have to.

Argentina’s turning pro-bitcoin, miners are better positioned than ever, and OpenAI’s drama could influence crypto AI coins.

Here’s a run-down of the actionable things I’m paying attention to this week 🍲…

Let’s dig in.

1/ Bitcoin mining stocks are looking sexy ⛏️

Ordinals - a type of NFTs on the bitcoin blockchain - are making a comeback.

Transaction fees on the bitcoin blockchain are rising as a result… which means miners generate more revenue than they have in a while.

This, however, isn’t yet reflected in bitcoin mining stocks.

Many of them are down -50% in the last few months. Wall Street doesn’t understand bitcoin well - let alone bitcoin NFTs.

Bitcoin mining stocks are like a leveraged play on the price and usage of Bitcoin.

When bitcoin UP 📈 = bitcoin miners UP A LOT 🚀

As I explained last week - bitcoin miners did 20X - 72X in the last bull market when purchased six months before the halving i.e. today.

It’s an opportunity worth considering.

The objectively best-positioned miner is $RIOT.

2/ Pro-Bitcoin candidate wins Argentine presidential election 🏦

Javier Milei won the Argentine presidential election yesterday. And here’s the kicker: he’s heavily anti-state, pro-bitcoin.

Argentines are ready for a change. They’ve witnessed the largest relative decline in wealth worldwide since the 1900s.

40% of them live in poverty. Inflation is 143%.

Milei plans to ditch the peso in favor of the US dollar and abolish the central bank and large chunks of the federal government.

After El Salvador, this is the region's second publicly open pro-bitcoin candidate - and could mark the beginning of a larger trend.

The crypto markets reacted very positively to news of his election. And we’ll be watching his position on Bitcoin very closely.

3/ The AI drama (& bull run) isn’t over yet 🤖

On Friday, Sam Altman got fired from Open AI. After a long series of back-and-forths, he’s now taken up a position at Microsoft.

This probably reduces OpenAI's valuation by 90%. It also raises questions about the future and stability of tools like ChatGPT.

But as investors, this signals that the AI bubble likely isn’t entirely over yet.

Now - you can do what traditional stock investors do and buy $NVIDIA (or Microsoft). Or you can position yourself like Arthur Hayes and buy Filecoin. 

But you can also go one step deeper into the madness of on-chain crypto <> AI coins…

We’ll be covering this in more detail shortly.

In the meantime, we'll let you know if we see more good miners worth looking at (like Cleanspark - $CLSK… 👀).

1/ The supply of Bitcoin and Ether hits an all-time low

2/ Bitcoin fundamentals have never looked better

3/ Fidelity files for an Ether ETF