Qrafty heart that Michael Saylor bought Bitcoin again, Coinbase expands to Europe and Vitalik draws a warning signal

***Qrafty smiling the biggest smile*** Aloha, crypto curious! I am Qrafty - the crypto lovin’ honey badger 🦡 !

Welcome to Coinqraft – the daily crypto newsletter for busy but curious people who don’t have time for the crypto drama!🌟

🦡   Qrafty has fresh bits from the crypto jungle, so let’s dive in: 📰 🌟

1. Michael Saylor Bough Bitcoin… Again

2. Vitalik Warns About CBDCs

3. HTX (former Huobi) Got “Hacked“

Bonus: Barcelona Bitcoin Street Art

Michael Saylor Shopping Again

There’s no DCA (Dollar Cost Averaging) like Michael Saylor DCA. In the past couple of years, the man has been propping the market pretty much all by himself.

In his latest shopping spree, he just announced that MicroStrategy has acquired 5,445 BTC more, for about $147.3 million. The average price was $27,053 per bitcoin. Since yesterday, MicroStrategy HODLS 158,245 BTC acquired for approximately $4.68 billion at an average price of $29,582 per bitcoin.

With this purchase, he has slightly adjusted his average price per Bitcoin. Now, a bigger question emerges: what is his liquidation price? And if interested market entities have the resources to move Bitcoin’s price to that liquidation price.

Also, how will Bitcoin’s price and the overall digital currencies ecosystem react if we are to find ourselves in a recessionary environment? Or, even worse… a financial crisis? Remember, Bitcoin and the crypto market haven’t seen a financial crisis, since Bitcoin is itself a manifesto to the inherent flaws in traditional finance.

The best thing about Saylor is that he is going against conventional financial belief systems in a move which is called “front-running the future“. This is not a profit based mindset, but a belief based approach, where he is betting big on the future value of the asset and technology, while paying a premium in the present.

The funniest part? If he is right, his own actions will reach a point where he will challenge the decentralized aspect of Bitcoin and the whole ethos of the crypto movement, as he is and will continue to be one of the biggest holders in the market.

🙃 Qrafty hopes that today’s main story brought brave badgery value to you! Now it’s time for a break, you deserve a bit of fun! 😇 👇️

Vitalik Warns Against CBDCs

The adorable, brilliant stickman figure called Vitalik Buterin, the fabulous mind that brought Ethereum to the world, has finally caught on to the sneaky banks plan with CBDCs and how they plan to enslave us all.

In a recent interview with CNBC, the Russian-Ukrainian developer called “the V god“ by his Chinese fans mentioned that central bank digital currencies are just “front ends” for the banking system.

It’s nice that Vitalik managed to realized the perverted possibilities that CBDCs have in store for us, the average wildlife in the everyday jungle. He also argued for further decentralization and more user friendly interfaces.

It would also be a good idea to check on those MEV bots on ETH, which are basically defrauding average unsuspecting investors who just want to buy some damn Ethereum and hodl for their lives.

Bank of Spain welcomes Coinbase

Ola, guapo, que tal? Bienvenido en Espana chico, vamos a hacer negocio, vale? Qrafty learned some Spanish while travelling the world as a Professional International Pillow Fluffer and lived in Spain for a while.

Yes, that’s a thing! Whenever you go on vacation and rest your head on a divinely fluffy pillow, there is a big possibility that Qrafty was the one who fluffed that for you!

Qrafty… are you ok? 

Si, senor! The story is that Coinbase got approval from the Bank of Spain to begin offering their services to retail and institutional investors in the country. So Coinbase is moving up in the world and expanding through Europe.

It’s worth noting that this is not their first attempt, as Coinbase wanted to buy what was left of FTX Europe to expand into the old continent but that didn’t go anywhere. It seems that finally Brian Armstrong is stepping across the Atlantic and establishing a new foothold with his company, starting in the sunny south wester country of amor and bulls. Is this bullish?

There Might Be More To The JPEX Case

Hong Kong police are investigating allegations of fraud against cryptocurrency trading platform JPEX after investors complained of $166 million in losses. It seems that the JPEX team was so good at stealing money that they even managed to convince popular influencers to promote their operation.

The Hong Kong's Securities and Futures Commission (SFC) is basically saying that JPEX was a complete scam from the start, operating without a license. JPEX is claiming that they were trying to get a license, but the SFC was being too picky, while preying on inexperienced investors by promising them high returns and spending a lot of money to promote their scam.

What’s curious is that suddenly, HK based Mixin Network announced that it was "hacked" for $200 million.

Also, Justin Sun’s HTX (previously Huobi) announced as well that it was "hacked" for $8 million. Curious, one might think, especially since Justin Sun is involved… Adam Cochran is saying that Huobi might be insolvent… again; which is definitely more believable than that so called hack.

Hey hey 🙃 Qrafty hopes you are enjoying the experience here and would like to regularly get Qrafty’s letters!

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Tomorrow's like a software update - you hope it fixes bugs, but you never quite know what new glitches it'll introduce!

Qrafty’s thougt of the day

Other stories

Shanghai Court: Bitcoin is special

The Shanghai No. 2 Intermediate People’s Court has officially recognized Bitcoin as a unique digital currency and calls it ‘non-replicable’. This comes despite China’s crypto ban and their general love-hate approach towards crypto and Bitcoin in the past several years.

Former FTX US president starts a new brokerage firm

Former FTX US president Brett Harrison has received approval from the National Futures Association (NFA) for his new startup, Architect Financial Derivatives. The company will operate as an independent introducing broker and won’t handle customer funds, as they’ll basically be a software supplier. Well… he seems to be surprisingly well off and unscathed after the whole FTX sheetstorm, don’t you think?

Print books, not money

Barcelona’s artists are fond of Bitcoin and their art is pretty interesting, aside from Barcelona being a great city. Check out more in this subreddit. Yes, I know… Reddit, but I promise that those artists did some nice works around the city.

Market Whispers

After a looong 120$ range Saturday, at the end of Sunday Bitcoin made a move towards $26,120 continuing with another low on Monday at $25,990.

Qrafty knows that is not that much from Friday's high of 26740$, but when it does a ~240$ red candle in a minute, you suddenly feel like the end of the world is coming.

But you should be used by now with these candles of doom, after all we are here for the dopamine, adrenaline, heart attacks, you know... the good stuff in life. As the end of the month is approaching, Qrafty thinks there's more of these to come.

Ah, I forgot! If you judge the chart by the weekly candle then... $25,300 or $24,800 would be the obvious first move then ~ $28,000. Stay safe!

Qrafty ends channeling his inner trader.

Today is NATIONAL PSYCHOTHERAPY DAY!

That’s all from Qrafty 🦡 for today! Qrafty thanks you and wishes you to live each moment as if you are listening to the music you love most!

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