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Internet Computer Defies Market Slump Internet Computer (DFINITY Foundation) ($ICP) surged 10% in the last 24 hours and 12% over the past week, outperforming a broader crypto market selloff. The rally comes as Bitcoin $BTC fell below $70,000 after losing more than 4.5% in a day. Reports suggest short...

17,354 просмотров • 2 месяцев назад •via X (Twitter)

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32 coins. $2.5 million. 0.0038% of the stack. That is the sale the market is now blaming for a $3 billion liquidation cascade and a Bitcoin price nearly halved from its peak. A $2.5 million sale cannot move a trillion-dollar asset. It is a rounding error. In the same week, Strategy raised $128.3 million selling its own stock, 50 times larger. It did not need to sell coins. It chose to. The crash has real drivers: a record 13-day run of ETF outflows, a rotation into AI, a Fed in no hurry to cut. But the accelerant the market keeps naming is 32 coins. The coins were never the point. The signal was. And the signal was deliberate. Michael Saylor told the Q1 call he would “probably sell some bitcoin to pay a dividend just to inoculate the market and send the message that we did it.” His logic was sound: prove the Bitcoin is usable capital, not a vault that can never be opened, and show he is not a prisoner of his own vow. His “never sell” always meant be a net accumulator. He is up more than 170,000 coins this year against the 32 he sold, and he scores himself on one number, Bitcoin per share. By that math, defending the dividend with a sliver was discipline, not distress. The market read it as the opposite. The dose became the catalyst now blamed for the crash. The inoculation became the infection. Because what changed was never Strategy’s solvency. It was its identity. The market has stopped pricing a permanent holder and started pricing what the filings always described: a state-contingent allocator now funding its own preferred dividends, at the margin, from the Bitcoin beneath them. And the buffer is thinning. The cash reserve behind those dividends has fallen from $2.25 billion to $900 million. Against a preferred bill near $1.7 billion a year, that is roughly 6 months of runway. Be precise. This is not a death spiral. Strategy still holds 843,706 Bitcoin, worth more than $50 billion even now, and has more funding levers than almost any company alive. A real rally makes this a footnote, and the sell-side calling the reaction overdone is not wrong on the fundamentals. But the regime has changed. The question is no longer Bitcoin’s price on any given day. It is the cadence of the dividend declarations and the path of that reserve. Bitcoin did not acquire a yield. The wrapper acquired liabilities. This week the market learned that difference costs far more than 32 coins.

Shanaka Anslem Perera ⚡

165,572 просмотров • 2 месяцев назад

$1M Bitcoin in 2027 Everyone thinks Michael Saylor and ETFs get us there. I think it’s Paul Sztorc and the eCash.com $BTC hard fork. I sat with Paul Sztorc who made me realise eCash could be one of the most important forks in bitcoins history, stimulating our greatest bullrun ever. The tldr is in August if you hold bitcoin you get the equivalent in eCash. Now eCash on its own merit is already interesting. It’s led by Paul Sztorc who has spent years campaigning to improve bitcoins mechanical utility. He’s a certified legit Bitcoin OG who wants to add functional layers on-top of Bitcoin to enable Bitcoin to be the rails for the broader world of commerce. He plans to achieve this with side chains that are sort of like L2s on Bitcoin. Imagine if Bitcoin had smart contracts and $btc was the currency for all apps in the world. 🤔so technically it’s already very compelling. You will get that for free just by owning Bitcoin. But that’s not all. Paul has figured out a way to finance new forks. I believe this will trigger a new season of fork innovations. Basically fork wars 2.0 only this time it’s based around experimentation and innovation instead of outright kill Bitcoin. Institutions have been all the craze recently but they have never been the source of crypto's biggest expansions. The people who built this industry were. The Cryptographers, the hackers, the builders and the cypherpunks. Everyone is focusing on Strategy selling Bitcoin, meanwhile the upcoming eCash hard fork from Paul Sztorc is being wildly underestimated. Technically, the idea of improving bitcoins mechanical utility is appealing but the event itself is also financially dramatic inducing a huge wealth effect for a whole new generation of Bitcoin holders and it may remind the market who actually drives innovation in this industry. Every major crypto boom began when a small group of weird, intelligent, highly-convicted people challenged the status quo and built something new. And while everyone thinks the next bull market comes from Wall Street, I think much more poetically it comes from the same place every other one did: The real Bitcoiners. Anyway, the interview is linked below. I highly recommend you watch it and I’ll be writing my thesis that goes over wealth effects, network effects, financial incentives, game theory and how this all spills over into a bitcoin and crypto bullrun like we’ve never seen before.

Senator Mak🖖

130,752 просмотров • 2 месяцев назад