MSTR nostr:note1ge6rk75h9pvh9jckdk5m8jx265lnldrptx59gu57pttan9ztx67srv93zx

Smoke and mirrors. Trump’s gonna be making a lot of noise and making dramatic moves with the intent of misdirecting.

I miss Gary Gensler.

Encouraged that now they’re just flooding the market to distract from bitcoin.

The new tactic is to embrace everything and hope that bitcoin gets a lower share of the capital.

But it sucks that we still don’t have strong men.

Of course … because they’re going to fractional reserve the coins the United States buys / hodls … that’s up to 500k bitcoins (to start) that Coinbase will be able to manage/leverage their sketchy operations.

22M. 25M. 30M. 50M “bitcoin” in circulation.

But it’s cool because Saylor and Trump *say* they support bitcoin. Just trust them, bros.

Why suppressing NGU is job 1 for authorities around the world. Until they decide to lead / go all-in themselves. This is why COIN is fractional reserving MSTR’s bitcoins and why Saylor went on his ill-fated “yield” podcast circuit late last year. nostr:note1094k38j39xyy966zgwfu4z5jux2sgapf6astu595tytdwlhlxjlq28v0ay

nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak any thoughts on Coinbase, etc. fractional reserving MSTR’s bitcoin? How does any current or future fractional reserving get revealed by the market?

Feels like you’re the only voice that’s been willing to challenge Saylor on the weaknesses of his framing of bitcoin.

Unclear why Saylor wouldn’t implement proof of reserves in some form or fashion. It would only be upside to MSTR’s valuation as well as to him personally. nostr:note15vky2z2l8h9nxxt9rwdc5y37m8nl6ctske9a67asry48dkvvk65swa7kd2

Waiting on those rewards, though. I hear a lot about them… nostr:note1z5gpuaw32fudrm7aw06kg5l9c9dgpl8ahtg3wt94rsrvfl6jnyeqvhsfa8

Ouch. Liquidation is a taxable event!

$475k nostr:npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l

$1.8M nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy nostr:note1gtqujvat0vmatdh547xf58drr2mf68d9879j8ywqrqmd7tyr2srqqsk820

$475k nostr:npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l

$1.8M nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy

We should have gone over $100k last cycle. How high would the blow off top have gone? $105k, $150k, $200k? Who knows. But we should have had that blow-off top and we didn’t because of the DeFi shenanigans.

FTX, BlockFi, Celsius had 150k bitcoin that they had to liquidate? How much paper bitcoin was caught up in those psyops? A couple hundred thousand?

Here we are - 9 months after the halving - still floating around a purchasing power of $100k. Bitcoin influencers everywhere - even the hardcore maxis - are drooling over MSTR.

MSTR has exchanged dollars for claims on 450k bitcoin. You don’t think there are games being with the bitcoin they have bought? How much price suppression can COIN and MSTR and financial/government actors achieve by fractional reserving MSTR’s bitcoin? How does the fractional reserve scheme get exposed when governments are backstopping COIN?

Governments have to conflate crypto with bitcoin because pumping bitcoin alone destroys the institutions and markets that have fed off of and become dependent on fiat.

Even if strategic reserves of the shitcoins only last 2-5 years, that’s time where capital was not being allocated (solely) to bitcoin which buys governments and central banks time.

At this point they know they’ve lost on a mid to long term. Every move they make publicly is simply trying to buy time for the USD and treasury markets.

#bitcoin

I’m not worried about nation states getting into the game because it is somewhat inevitable. Just like it has to us, it will change them…for the better.

Unwinding fiat is going to be ugly. The only question is how ugly and in what ways.

(The US has the most bitcoin contained within its borders. Bitcoin getting more adoption is a net benefit to the US because of the # of bitcoiners AND our abundant natural resources.

The gulf states are nearing decline of their major oil reserves…especially Saudi. The way to ensure their relevance on the global stage throughout the next 100 years isn’t by co-opting Western culture (sports, architecture, art) it is from buying bitcoin. Lots and lots of bitcoin.

If Saudi front ran the United States and bought 1M bitcoin with accompany proof of reserves, it’d be the most epic geopolitical leverage play possible at this stage of the macro theatre. If Iran stacked 1M BTC, it would be even more provocative.

With interest rates 20%+ it makes the entire supply chain more expensive to manage. Then private actors can’t achieve a profit shipping industrial-scaled, seed oil-based food to Selma, Alabama. And so local options (not seed oil based … admittedly few at first … ) will emerge to meet the local demand.

The cost of capital these mega industrial processes (energy, food, internet, etc.) are all discounting their cashflows using a federal funds rate of 5% + their cap stack betas.

When bitcoin sets the risk free rate at 20%+ they can’t afford to operate and maintain the capacity they have built out. None of these major corporations can.

Price money appropriately and these large corporations can’t allocate capital to achieve economies of scale afforded by industrial processes.

Remember when TARP was deployed to save the entire global financial system? …$700B authorized to save the world in 2008.

Now we’re looking at ~30% of that to rebuild a single city from a single disaster. In 2025.

https://www.msn.com/en-us/money/markets/ar-AA1xe86h

Enjoyed it!

Fiat globalists gonna make it really hard for Trump to establish a strategic bitcoin reserve.

Transferring from the DOJ to Treasury Department is easy with limited macroeconomic impacts. Buying bitcoin starts to introduce implications for demand for US treasuries and the dollar.

Looking forward to next week. Let’s see what happens… nostr:note12a2wsn23v4ue35zl33kzxecz9appgude08qmxsgdsd897gjzp7aq4themy