Nauseating levels of Saylor-imitating Bitcoin treasury companies at this point.

They may do well in the bull market… but there will be extreme wreckage during the subsequent bear market.

Regular folks should simply stack sats and chill while the chaos unfolds. 🍿

Might disappear again.

See you (maybe) in late June or July at $140k to $160k or so.

price ripping

mempools empty

There’s a threshold or level of violence where the state no longer has a monopoly.

The monopoly only holds when the population consents (implicitly or explicitly) or when resistance is small enough to be crushed without systemic risk.

When violence reaches a certain scale… civil war, insurgency, cartel warfare, economic collapse etc… the monopoly shatters.

Suddenly, authority is decentralized. Legitimacy becomes local, tribal, or transactional.

This is not something generally speaking that you want to live through.