Silvergate bank going down - the rugs will continue until everyone gets it beaten into them that the only safe way to store wealth is self custody bitcoin.
Discussion
#[2]
What have you seen where?
I'm out of the loop. What happened to Silvergate?
It seemed clear when their 10k didn't co.e out. Only 1 reason for that...
Lol damn. Silvergate rekt. This is going to get ugly
In all seriousness, where's the industry going to do their banking moving forward?
🤣
- Susquehanna Advisors Group took a 7.5% stake in Silvergate.
-The market maker owns more than 2.36 million shares in the crypto-friendly bank, worth over $35 million.
- SI is one of the most shorted stocks on Wall Street at present, having been the most shorted on Jan. 31.
- Citadel Securities revealed a 5.5% stake in the beleaguered bank earlier in the day.
What happens with sailors loan, if they become bankrupt ?
I presume they get called. I have no doubt Saylor can place this somewhere else if need be - I believe it was “only” in the region of $205mill. Saylor is one step ahead of the game, he’s got this
Ah shit, here we go again.gif
The beatings will continue until last custodial bitcoin is rekt. Stack sats, self custody and be humble.
This is the way…
The most shorted stock in America today.
Silvergate is fuuuucked!
The only Bitcoin is the Bitcoin you self custody
So many people agree on the problem; however, most of the financial “experts” I connect with can’t agree on a solution. Bitcoin isn’t even something they consider right now. If anything, it’s a YOLO bet for them.
#[2] and #[3] should pair up to buy it out and run it the way it should be.
I'm getting kinda nervous seeing all the heat some of these banks are getting. Will be a more than a tad inconvenient if I can't depend on trading sats for dollars.
Credit Suisse is going down too. But its part of the club so will probably get bailed out. But lets see!
100% agree.... i would even say... people HAVE to loose their bitcoins till they understand it....