The Wolf Den #1166 - Overrated Financial Beliefs
Which ones do you hold?
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In This Issue:
Overrated Financial Beliefs
Bitcoin Thoughts And Analysis
Altcoin Charts
Legacy Markets
A Look At Tether’s USDT vs Circle’s USDC
Stablecoins Are Popping Up Left and Right
BlackRock’s BUIDL Triples In Three Weeks
Rumble Launches A Crypto Wallet For Content Creators
$1 Million Bitcoin Is Inevitable, April Will Be Explosive | Mike Alfred
Overrated Financial Beliefs
Until we make it through the Trump tariff storm, there’s not much to say about crypto – it’s just along for the ride. The GameStop news is worth talking about (more on that below), and we’ll dive into bigger developments when they hit. But with things relatively quiet, today felt like the perfect time to take a different route.
After years of writing this newsletter, hearing your stories, and being fully immersed in this community, I’ve come to realize that some of the personal finance principles I once believed in are, frankly, overrated. This is just my opinion – but I suspect many of you will agree.
Let’s start with a big one:
“F-You Money” is the Goal
What kind of life is truly worth living if the ultimate achievement is reaching a point where you can tell everyone to screw off? The idea of “F-You Money” creates this illusion that financial independence is the final boss. In reality, real wealth isn’t just financial – it’s purpose, fulfillment, health, freedom, and meaningful relationships. Money can enable those things, but it’s not the destination.
Don’t get me wrong – I fully respect anyone working hard to create a life on their own terms. Whether your dream is a beachfront villa in Phuket or a quiet life in the Midwest, that pursuit of freedom is beautiful. But let’s check two harsh truths:
A) Most people who finally have enough money to chase those dreams don’t follow through. The pursuit of money becomes the addiction.
B) The “F-You” lifestyle is a myth. You’ll still pay taxes. You’ll still have responsibilities. And if you carry that attitude into everything you do, you’ll probably be miserable.
If you’re one of the rare few who can actually pull it off with clarity and purpose – more power to you. I hope you succeed. As for me? I love stacking sats, but I love selling them even more when they buy me more time with my family, better health, and a higher quality of life.
“F-You Money” is shallow. We can aim higher. Bitcoin and the broader financial revolution can be the foundation of something far more meaningful.
Second: Pay Off Your Mortgage Early
Let me be clear – if you’re in a shaky financial position, struggle with debt, or feel anxiety over monthly payments, then yes, paying off your mortgage early might be the right move. But if you have stable income, good credit, and financial discipline, why rush to zero that balance just because conventional wisdom says so?
Not only can you refinance later down the line for better terms, but there’s also the opportunity cost: putting that money to work in the markets – or even better, into Bitcoin – can generate far more wealth over time. Why lock your capital in bricks and drywall when you could use it to grow?
Third: Your Best Investment Is Your House
Some of you may want to throw your laptop reading this – but stay with me. I own a home. I like owning a home. But that doesn’t mean I believe it’s my best investment, and neither should you.
Robert Kiyosaki nailed it: a home is a liability, not an asset, when it comes to cash flow. You’re on the hook for property taxes, insurance, maintenance, repairs, and all the hidden costs of ownership. The financial returns are often overstated once you factor in those expenses.
And let’s not forget the time cost. Do I want to spend a Saturday cleaning gutters and repainting the fence, or would I rather pay someone to do it and spend that time with my kids?
Renting has downsides, sure. But if you take the extra money and invest it wisely, the upside can far outweigh the modest appreciation of your primary residence – especially when assets like Bitcoin exist. Over the past four years, BTC’s performance has left the housing market in the dust.
Fourth and Final: Frugality Will Make You a Millionaire
I’ve long encouraged people to live below their means, cut unnecessary expenses, and delay gratification. That mindset builds strong habits. But let’s be real – you’re not going to build life-changing wealth by skipping lattes and canceling Netflix.
Real wealth comes from focusing on three things:
A) Increasing your income
B) Growing your investments
C) Doing both
That means consistently contributing more to your portfolio and choosing investments that actually compound over time. Playing it safe in a money market fund in your 20s or 30s may feel responsible, but it won’t get you where you want to go.
Frugality has its place – but if it’s your primary financial strategy, you’re thinking too small. It should be a tool, not a lifestyle.
Anyway, that’s my take on a few personal finance beliefs that I think are overrated. Let’s get back to the news – starting with the GameStop announcement. The press release is below.
GameStop has taken a page straight out of Strategy’s playbook, announcing plans to raise $1.3 billion through convertible senior notes with the intent to acquire Bitcoin. In doing so, it’s leveraging debt to gain BTC exposure as a treasury asset – the same approach Strategy has mastered over the years.
CEO Ryan Cohen is making it clear: GameStop is no longer just a gaming retailer. It’s now one of the first household-name public companies to formally embrace Bitcoin as a central part of its financial strategy.
GameStop has taken the orange pill.
This is exactly what we’ve been predicting – and waiting for – ever since Strategy made its first Bitcoin purchase. It’s been a long time coming, but it’s happening now, slowly but surely. Ryan Cohen is about to become a name known across both crypto and traditional finance, and GameStop is only the beginning.
Bitcoin Thoughts And Analysis
The 4-hour Bitcoin chart is looking increasingly constructive.
Price is holding above both the 50 MA and 200 MA, confirming them as support. A golden cross—the 50 MA crossing above the 200 MA—looks imminent, which would add fuel to the bullish narrative.
We’re seeing a clear series of higher highs and higher lows since the bottom, which was predicted by bullish divergence on oversold RSI. Price action has consolidated into a clean bull flag, mirrored by a similar pattern on the RSI. RSI has already broken above its descending resistance and is retesting that breakout level—this often precedes a breakout in price.
Momentum is building, structure is clean, and the setup is leaning bullish.
Altcoin Charts
For those who are new here, I share SETUPS and not SIGNALS. These are ideas that I am watching - if a certain thing happens, then the trade triggers. I am not telling you what to buy or when. I am showing you how I am watching certain charts and what has to happen for me to take a trade.
SUI/USDT
Yesterday, SUI looked like this.
Today it looks like this.
I like the chart, simple as that. This has been a leader throughout the cycle, so this could portend some nice altcoin movement. If we get some momentum, this should perform very well.
Of course, it is currently at resistance at the 50 MA, so traders may want to look for a pullback to enter.
Legacy Markets
European stocks fell sharply as fresh U.S. tariffs reignited fears of a global trade war and its impact on economic growth. The Stoxx 600 dropped 1% at the open, led by a steep selloff in automakers after President Donald Trump announced a 25% tariff on auto imports and threatened additional duties on the EU and Canada. Stellantis, Mercedes-Benz, and BMW each declined around 6%, dragging the sector down. U.S. futures also slipped, while Treasury yields edged higher.
The increasingly aggressive and unpredictable trade stance from the U.S. has rattled markets, with investors bracing for retaliatory measures. The European Union is preparing a response, including the possible use of its anti-coercion instrument, a powerful trade policy tool developed after Trump’s first term. The dollar weakened against all G-10 currencies, while gold climbed near record highs around $3,035 an ounce, reflecting haven demand.
Market strategists warn that even without a formal recession, the rising threat of tariffs may prompt a rush to safety and further selling pressure. St. Louis Fed President Alberto Musalem noted the uncertain impact of tariffs on inflation and growth, suggesting the Fed may hold rates steady for longer. Despite the turmoil, some analysts say the U.S. economy may avoid recession—but the risk premium is clearly rising.
Stocks
The Stoxx Europe 600 fell 1% as of 8:17 a.m. London time
S&P 500 futures were little changed
Nasdaq 100 futures fell 0.2%
Futures on the Dow Jones Industrial Average were little changed
The MSCI Asia Pacific Index fell 0.1%
The MSCI Emerging Markets Index fell 0.2%
Currencies
The Bloomberg Dollar Spot Index was little changed
The euro was little changed at $1.0764
The Japanese yen was unchanged at 150.57 per dollar
The offshore yuan was little changed at 7.2731 per dollar
The British pound rose 0.2% to $1.2912
Cryptocurrencies
Bitcoin rose 0.1% to $87,396.28
Ether rose 0.6% to $2,022.29
Bonds
The yield on 10-year Treasuries advanced one basis point to 4.36%
Germany’s 10-year yield declined four basis points to 2.76%
Britain’s 10-year yield was little changed at 4.72%
Commodities
Brent crude fell 0.5% to $73.63 a barrel
Spot gold rose 0.6% to $3,036.94 an ounce
A Look At Tether’s USDT vs Circle’s USDC
Let’s take a look at the numbers:
USDT marketcap today: $144 billion
USDC marketcap today: $60.1 billion
USDT marketcap six months ago: $119.4 billion
USDC marketscap six months ago: $36.27 billion
USDT marketcap one year ago: $104.4 billion
USDC marketcap one year ago: $32.4 billion
Over the past year, USDT has grown from $104.4 billion to $144 billion, adding $39.6 billion in market cap, while USDC has surged from $32.4 billion to $60.1 billion, gaining $27.7 billion. USDT's market cap grew by 37.93%, while USDC’s grew by 85.49%. While it's expected that smaller stablecoins tend to grow faster in their earlier stages, it’s still impressive that USDC managed to add 70% of the market cap growth that USDT achieved, despite starting the year at only about a third of its size. If USDC maintains its momentum over the next six months to a year, surpassing USDT could be within reach.
Stablecoins Are Popping Up Left and Right
Yesterday, it was announced that Custodia Bank and Vantage Bank Issue America’s First Bank-Issued Stablecoin, a couple of days ago we learned that World Liberty Financial has plans to launch its own stablecoin USD1 and today, we now have reports that Fidelity has a horse in the race and is now in advanced stages for developing its own stablecoin. Details are limited, only leaving us with the fact that “the token would form part of the company's strategy to enter the tokenized government bonds market.” This news comes just days after Fidelity announced its plans to expand its digital asset offerings through an “OnChain” share class for its Treasury Digital Fund (FYHXX), which invests in cash and U.S. Treasury securities. A Fidelity-backed stablecoin could potentially serve as the cash component within this fund.
We also have to add Wyoming to the stablecoin list.
Wyoming is now set to become the first U.S. state to issue its own stable token, ‘Wyoming Stable Token’ (WYST), backed by cash and U.S. Treasury securities. The decision was made possible under the Wyoming Stable Token Act in 2023, and testing is slated to begin in the coming weeks with an official launch planned for July. The token will be redeemable for $1 and aims to provide a secure, state-backed digital asset.
BlackRock’s BUIDL Triples In Three Weeks
BlackRock's Ethereum-native tokenized money market fund, the USD Institutional Digital Liquidity Fund (BUIDL), has more than tripled in value over the past three weeks, growing from $615 million to $1.87 billion. I went over to RWA.xyz to confirm if BUIDL really has tripled in three weeks and it’s true. On 3/5/2025, BUILD had a TVL of $663 million, today, it’s now very close to hitting $2 billion.
There is no single reason for this trend, but it can be attributed to the ongoing bull market, increased institutional confidence in the space, and the advantages that tokenization offers over traditional, non-tokenized securities and funds. If the trend continues a couple more times over, everyone in crypto will be talking about it - this graph is going absolutely parabolic right now.
Rumble Launches A Crypto Wallet For Content Creators
Canadian video platform Rumble has launched its own wallet, integrating support for Tether’s USDT to enhance content creator monetization. CEO Chris Pavlovski announced that Rumble Wallet aims to outperform traditional advertisers in rewarding creators. Tether CEO Paolo Ardoino praised the initiative, calling it “A wallet for the people.”
The idea is solid, and I believe it addresses a real-world problem. Content creators are often restricted or limited by the monetization structures of the platforms they create on, which can come with high fees, payment delays, and regional limitations. A Tether-based wallet offers a globally available, 24/7 solution with significantly lower fees, providing creators with more financial flexibility and control over their earnings.
It’s brilliant.
$1 Million Bitcoin Is Inevitable, April Will Be Explosive | Mike Alfred
Mike Alfred is a Bitcoin bull you need to hear! Why is he so confident Bitcoin will hit $1 million? And what's his immediate outlook for BTC and the broader crypto market? We're about to find out! Plus, Chris Inks joins the show in the second half to reveal exciting trade opportunities in crypto and more.
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The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this e-mail constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.