A pastor turns holy water into a $1.3M crypto wine

GM, Today on Money Printer Go Brrr newsletter:

• A pastor turns holy water into a $1.3M crypto wine

• The Evolution of iPhone Prices in BTC will shock you

• Bitwise released the on-chain address for their ETF's BTC.

Colorado pastor turns holy water into a $1.3M crypto wine

So, we've got this pastor from Colorado, right?

Goes by the name Eli Regalado.

He decides to delve into the holiness of of crypto world.

His divine choice? INDXcoin.

Divine because apparently God was his financial advisor.

He tells his Christian community, "Invest in INDXcoin, and you'll be wealthy beyond your dreams."

And boy, did the faithful sheep!

They raised $3.2 million!

It's like the water and wine miracle, but with crypto.

But 1.3 million ends up in the pockets of Eli and his wife.

When asked about the hefty sum, Eli comes out clean.

Says, "Oh yeah, that $1.3 million? We pocketed that. Half of it went to the IRS."

He adds, "And a few hundred thousand? Used for a home remodel. The Lord told us to do it."

I wish the Lord would have a chat with my landlord.

The Evolution of iPhone Prices in BTC will shock you

Imagine this:

Once upon a time, 162 BTC could buy you an iPhone 4s.

Fast forward to today, an iPhone 15 costs you just 0.031 BTC.

Can you believe that?

I bet the cost of the iPhone 20 will continue to decrease in terms of BTC.

Now you're thinking, "What if I don't care about iPhones?"

No problem.

Let's talk houses.

In terms of BTC, the average cost of a house in America, has become cheaper over the last 10 years.

In 2016/2017, a house valued at $500k would cost you 150 BTC.

Now, in 2024, the same house would only cost between 10 and 13 BTC.

This is because "The Money Printer Goes Brrr" and it will never stop.

FIAT money it's like a balloon full of hot air, gets bigger and bigger, and then - pop! It disappears.

Everything gets cheaper in terms of BTC.

Bitwise released the on-chain address for their ETF's BTC

An ETF (Exchange-Traded-Fund) is a fund of assets that is traded on an exchange.

A Bitcoin ETF is a Fund that have bitcoin as underline asset.

Bitwise is a company that operates a Bitcoin ETF.

In an effort to increase transparency, they have decided to release on-chain addresses to the public.

People can now verify how much Bitcoin they have and compare it with SEC filings.

What's interesting is that someone sent 0.00006969 BTC (6969 satoshi) to their address, so now they are over-collateralized. 

Bitwise's initiative is beneficial for Bitcoin ETFs.

They understand the "Don't trust, verify" principle.

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