17th December 2024 > > Kitties & Puppies.

tl;dr

It’s raining cats and dogs. The UK has set out on a path to benefit the wealthy at the expense of the poor.

Market Snap

Market Wrap

Another new ATH at $107.8k accompanied by $640mm inflows to the spot BTC ETFs, including a positive day for GBTC (the outrageously expensive Grayscale Trust) that usually sees outflows.

This leaves two lingering questions that must surely be answered soon – when do we first see $1bn of daily inflows to the ETFs, and when will see $110k?

Curious Cryptos’ Commentary – NFKs (Non-fungible Kennys/Kitties)

To be honest, we started with Non-Fungible Kennys, but Larry our resident techie is so very smart he suggested we make it Kitties as that is an internet/crypto meme thingy and so will get better recognition. I think he is right. So, we go with both names.

Over to the artist, Bafta winner Janey de Nordwall, to explain:

“KENNY, a British Shorthair Silver Tabby, was once an indoor cat living in a London County Council flat in Bethnal Green, London. The only mice he encountered were made of cloth or as digital images in a game on an iPad screen. He seemed content.

But, in 2019, he ventured on a life changing road trip, in a 1970’s VW T2 Campervan, for 40 days and 40 nights up the west coast of Scotland and her Inner and Outer Hebrides (*). For the first time he witnessed dramatic vistas, enjoyed a daily dose of 50 shades of green and embraced the great outdoors.

In 2022 he moved to the remote peninsula of Knoydart, Scotland, aka Britain’s last great wilderness, which has no roads in or out and access is only by boat. As a rewilded cat, Kenny has finally found his true vocation - a successful mouser, a brave adventurer, a wilderness explorer, and the perfect companion.

His companion, Janey, accompanied him on his life-affirming road trip and she too has become an enraptured resident of Knoydart. From the fast lane to a single-track road, she is an advocate that less is most definitely more, embraces a more analogue lifestyle, and knows that being surrounded by nature holds unparalleled power and energy. Janey now spends her time gazing out onto Loch Nevis and the surrounding mountains, watching Kenny roam freely, and creating artwork featuring her non-fungible muse.”

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NFKs are available as an NFT, but we know that most of you will want to put Kenny on the mantelpiece, or on the wall. NFKs are available as prints, framed prints, and on canvas, as an addition to the NFK itself. More details here:

https://www.curiouscryptos.com/projectk

NFKs can be purchased using fiat online, or using cryptos by contacting me at mark@curouscryptos.com.

Curious Cryptos’ Commentary – Puppies as NFTs

In association with Guide Dogs for the Blind, the Curious Cryptos Team are proud to present Nifty Puppies:

https://niftypups.com/

We have big plans for all of your pups, the details of which are on the website.

Cryptos are required to buy a Puppy NFT, for fiat does not cut the mustard. All the information is in the “How to …” Guides section of the Nifty Puppies website.

Curious Cryptos’ Commentary – The UK

S&P Global Intelligence has reported:

“Economic growth momentum (in the UK) has been lost since the robust expansion seen earlier in the year … business confidence has sunk to a two-year low as companies weigh up a tougher outlook for sales alongside rising costs, notably for staff as a result of changes announced in the budget.”

With expectations running high that the UK will enter a full-blown recession early in 2025, necessitating more tax increases in March next year (for public sector spending will never be reined in by any political party), we know what the answer will be from the Bank of England responding to demands made by its political masters:

Fire up the money printer!

This won’t cause inflation of consumer goods as the UK remains an open economy, for now at least. It will propel house prices and other hard assets ever higher, to the benefit of the wealthy, and to the detriment of those who do not yet own assets, and maybe never will.

It will also lead to a repricing of sterling lower than it would otherwise be.  As cryptos are traded in dollars, crypto bags are soon to get even mightier when valued in sterling.

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(*)

I might be in trouble now with the missus for this one.

Just me being childish, honey.