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VanEck CEO Jan van Eck on CNBC: “There’s something else going on within the Bitcoin community that non-crypto people need to know about. And that is: ultimately, VanEck has been around before Bitcoin. We will walk away from Bitcoin if we think the thesis is fundamentally broken. We don’t...

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Arjun Khemani

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569,098 Aufrufe • vor 8 Monaten •via X (Twitter)

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Debunking the Flat Bitcoin Theory 🧵 In the early days of Bitcoin (2009-2014) there was a massive amount of experimentation and innovation on bitcoin The first NFTs and cryptoart started on Bitcoin The first memecoins started on Bitcoin The first stablecoins and real world assets started on Bitcoin The first dapps started on Bitcoin The first DEX started on Bitcoin The first on-chain governance started on Bitcoin The first crypto degens were playing Satoshi Dice on Bitcoin But then the OP_RETURN wars happened and people like Luke Dashjr vilified innovation and scared builders away resulting in a long period of stagnation (2015-2023) This period of stagnation gave birth to the Flat Bitcoin Theory which infected the minds of nearly everyone The Flat Bitcoin Theory is a belief held by "Flat Bitcoiners" who think that Bitcoin is a boring blockchain that is not capable of the innovative use cases that we see on alt L1s like Ethereum or Solana But thankfully in January 2023 Casey burst onto the scene with the ordinals protocol and one by one people have been waking up from this lie and realizing that Bitcoin is actually multidimensional and capable of everything you could possibly imagine and more Since then Bitcoin has experienced a renaissance of innovation with a new set of builders picking up where the set of OG builders left off Jeremy Lin | 🔄 DotSwap (On Nexus) from DOTSWAP•DOTSWAP - Official has defied all FUD and delivered a trustless liquidity pool style experience on Bitcoin L1 for Runes with zero MEV Stan from Sats Terminal has built an advanced order routing and aggregation engine for Runes trading on Bitcoin L1 Scott 🟠 from radFi has revived the Runes trenches with a token launchpad on Bitcoin L1 that thousands of people use every day Robin from Liquidium | Bitcoin Loans built a Runes and Ordinals lending protocol that has processed hundreds of millions of dollars of volume which proves that DeFi can thrive on Bitcoin L1 domo and Binari from BRC 2.0 and Tagga from Alkanes have been relentlessly pursing a vision for general purpose smart contracts on Bitcoin L1 TO from Pizza Pets built a fully on-chain multiplayer game directly on Bitcoin L1 Ken Liao from built a Bitcoin wallet for interacting with Bitcoin L1 dapps that is so sleek that it puts Ethereum's flagship wallet MetaMask to shame danny huuep from OnChainMonkey® pioneered a new way to store an entire 10K PFP collection on Bitcoin for only $23 that is now widely adopted by hundreds of other Ordinals collections SergeSats has formed the Bitcoin Art Society to preserve Bitcoin's on-chain culture for future generation has dedicated months of his life to ensuring that once a year there is a place where bitcoin builders can gather to celebrate experimentation on bitcoin at Bitcoin Summit Massive decentralized communities like the $DOG Army and Bitcoin Puppets have rallied together to support all of these innovations and champion the Bitcoin ecosystem Do not ever let anyone tell you that Bitcoin is not capable of something or that you must only use Bitcoin in a certain way The Bitcoin network is more secure and robust longterm when it is winning at developer mindshare and blocks are filled with a diverse set of on-chain activity It is up to us, the Ordinals, Runes, and Bitcoin DeFi ecosystem to be stewards of this technology now so go build the most badass applications possible and never stop fighting for innovation on Bitcoin!
13:29

Debunking the Flat Bitcoin Theory 🧵 In the early days of Bitcoin (2009-2014) there was a massive amount of experimentation and innovation on bitcoin The first NFTs and cryptoart started on Bitcoin The first memecoins started on Bitcoin The first stablecoins and real world assets started on Bitcoin The first dapps started on Bitcoin The first DEX started on Bitcoin The first on-chain governance started on Bitcoin The first crypto degens were playing Satoshi Dice on Bitcoin But then the OP_RETURN wars happened and people like Luke Dashjr vilified innovation and scared builders away resulting in a long period of stagnation (2015-2023) This period of stagnation gave birth to the Flat Bitcoin Theory which infected the minds of nearly everyone The Flat Bitcoin Theory is a belief held by "Flat Bitcoiners" who think that Bitcoin is a boring blockchain that is not capable of the innovative use cases that we see on alt L1s like Ethereum or Solana But thankfully in January 2023 Casey burst onto the scene with the ordinals protocol and one by one people have been waking up from this lie and realizing that Bitcoin is actually multidimensional and capable of everything you could possibly imagine and more Since then Bitcoin has experienced a renaissance of innovation with a new set of builders picking up where the set of OG builders left off Jeremy Lin | 🔄 DotSwap (On Nexus) from DOTSWAP•DOTSWAP - Official has defied all FUD and delivered a trustless liquidity pool style experience on Bitcoin L1 for Runes with zero MEV Stan from Sats Terminal has built an advanced order routing and aggregation engine for Runes trading on Bitcoin L1 Scott 🟠 from radFi has revived the Runes trenches with a token launchpad on Bitcoin L1 that thousands of people use every day Robin from Liquidium | Bitcoin Loans built a Runes and Ordinals lending protocol that has processed hundreds of millions of dollars of volume which proves that DeFi can thrive on Bitcoin L1 domo and Binari from BRC 2.0 and Tagga from Alkanes have been relentlessly pursing a vision for general purpose smart contracts on Bitcoin L1 TO from Pizza Pets built a fully on-chain multiplayer game directly on Bitcoin L1 Ken Liao from built a Bitcoin wallet for interacting with Bitcoin L1 dapps that is so sleek that it puts Ethereum's flagship wallet MetaMask to shame danny huuep from OnChainMonkey® pioneered a new way to store an entire 10K PFP collection on Bitcoin for only $23 that is now widely adopted by hundreds of other Ordinals collections SergeSats has formed the Bitcoin Art Society to preserve Bitcoin's on-chain culture for future generation has dedicated months of his life to ensuring that once a year there is a place where bitcoin builders can gather to celebrate experimentation on bitcoin at Bitcoin Summit Massive decentralized communities like the $DOG Army and Bitcoin Puppets have rallied together to support all of these innovations and champion the Bitcoin ecosystem Do not ever let anyone tell you that Bitcoin is not capable of something or that you must only use Bitcoin in a certain way The Bitcoin network is more secure and robust longterm when it is winning at developer mindshare and blocks are filled with a diverse set of on-chain activity It is up to us, the Ordinals, Runes, and Bitcoin DeFi ecosystem to be stewards of this technology now so go build the most badass applications possible and never stop fighting for innovation on Bitcoin!

Leonidas 🧡 $DOG

62,981 Aufrufe • vor 11 Monaten

Ansem: Zcash is Swiss banking in your pocket “Instead of having to look at different bank accounts and different places to store your wealth, Zcash allows you to have access to that at any point in time and take it with you anywhere” “If you have a billion dollars in Bitcoin and send somebody $100, anybody you sent that to now knows you have a billion dollars in Bitcoin” “If you have a billion dollars in Zcash and send somebody $100, they don’t know how much you have in your actual address” “That’s the core reason I think Zcash differentiates from Bitcoin” “In my opinion, Zcash is the second best store of value behind Bitcoin. Right now it trades at around a $7B market cap, so I think it has a lot of room to do well and a lot of room to grow” “In 2016, Bitcoin was around $200 and now it trades at $80,000. In 2016, Zcash was around the same price it is right now…”
2:41

Ansem: Zcash is Swiss banking in your pocket “Instead of having to look at different bank accounts and different places to store your wealth, Zcash allows you to have access to that at any point in time and take it with you anywhere” “If you have a billion dollars in Bitcoin and send somebody $100, anybody you sent that to now knows you have a billion dollars in Bitcoin” “If you have a billion dollars in Zcash and send somebody $100, they don’t know how much you have in your actual address” “That’s the core reason I think Zcash differentiates from Bitcoin” “In my opinion, Zcash is the second best store of value behind Bitcoin. Right now it trades at around a $7B market cap, so I think it has a lot of room to do well and a lot of room to grow” “In 2016, Bitcoin was around $200 and now it trades at $80,000. In 2016, Zcash was around the same price it is right now…”

Market Bubble

119,513 Aufrufe • vor 3 Monaten

.Barry Silbert: “Generally speaking, I think the world is better off with privacy and financial privacy. And in the same way that a bad person may use a credit card or an iPhone device or cash to do bad things. I don’t think that that’s a reason to curtail the use of cryptocurrencies or privacy focused cryptocurrencies like Zcash. And it’s funny, in the early days of Bitcoin when we had conversations with people in the intelligence community, they actually said to us, ‘Please help Bitcoin grow in usage and adoption because we get to trace the movement of the money around the blockchain. We would much rather see bad people use Bitcoin than use cash.’”
0:43

.Barry Silbert: “Generally speaking, I think the world is better off with privacy and financial privacy. And in the same way that a bad person may use a credit card or an iPhone device or cash to do bad things. I don’t think that that’s a reason to curtail the use of cryptocurrencies or privacy focused cryptocurrencies like Zcash. And it’s funny, in the early days of Bitcoin when we had conversations with people in the intelligence community, they actually said to us, ‘Please help Bitcoin grow in usage and adoption because we get to trace the movement of the money around the blockchain. We would much rather see bad people use Bitcoin than use cash.’”

Arjun Khemani

25,138 Aufrufe • vor 11 Monaten

Threadguy predicts this will be the first bull run in crypto history where Bitcoin doesn't participate "This is going to be the first bull run in the history of crypto where Bitcoin flat out does not participate. No role, no say, it will be minimal at best. It will be Bitcoin to $75k, Bitcoin to $80k, Bitcoin to $85k, and there will be mania on-chain." "My entire thesis is that the next cycle comes from new blood getting access to on chain through these apps. This new crowd doesn't even know what Bitcoin is. Anyone that joined because they saw Kimchi or Cented or Rasmr, they don't know what Bitcoin is. If there's a pocket of excitement and new blood in crypto, it will have nothing to do with Bitcoin, the same way Bitcoin had nothing to do with the disaster that on-chain became in 2025. You cannot have it both ways. The two have been separated for years."
3:01

Threadguy predicts this will be the first bull run in crypto history where Bitcoin doesn't participate "This is going to be the first bull run in the history of crypto where Bitcoin flat out does not participate. No role, no say, it will be minimal at best. It will be Bitcoin to $75k, Bitcoin to $80k, Bitcoin to $85k, and there will be mania on-chain." "My entire thesis is that the next cycle comes from new blood getting access to on chain through these apps. This new crowd doesn't even know what Bitcoin is. Anyone that joined because they saw Kimchi or Cented or Rasmr, they don't know what Bitcoin is. If there's a pocket of excitement and new blood in crypto, it will have nothing to do with Bitcoin, the same way Bitcoin had nothing to do with the disaster that on-chain became in 2025. You cannot have it both ways. The two have been separated for years."

Kai

44,989 Aufrufe • vor 5 Tagen

🚨 FLASHBACK: Saifedean Ammous explains Bitcoin with Jordan Peterson: “To get electricity from the north of Ontario to Toronto needs a lot of wires, or you need to, if it was gas, you need to put it on tankers or on trains or in pipelines. All of that stuff is pretty expensive. But with Bitcoin, you just need an internet connection. You take the Bitcoin miners to where that energy is, and then you can monetize that energy and turn it into Bitcoin. It’s magic.”
0:25

🚨 FLASHBACK: Saifedean Ammous explains Bitcoin with Jordan Peterson: “To get electricity from the north of Ontario to Toronto needs a lot of wires, or you need to, if it was gas, you need to put it on tankers or on trains or in pipelines. All of that stuff is pretty expensive. But with Bitcoin, you just need an internet connection. You take the Bitcoin miners to where that energy is, and then you can monetize that energy and turn it into Bitcoin. It’s magic.”

Cointelegraph

47,177 Aufrufe • vor 1 Jahr

So, why did the Winklevoss twins launch cypherpunk - the first Zcash Treasury Company? Why are they bullish on Zcash 🛡️? Can Bitcoin and Zcash coexist? I caught up with Tyler Winklevoss and Cameron Winklevoss last week for Cointelegraph - here's everything they said about Zcash 👇 "We're huge fans of Bitcoin. We're hodlers, of course, and also huge fans of Zcash, which we view as encrypted Bitcoin." "Bitcoin is where you store your value and Zcash is where you transact or spend your value. And so we launched a DAT, a treasury company for Zcash, but it's really dedicated to privacy and self-sovereignty to help mainstream these ideas. The catalyst for Bitcoin was the financial crisis of 2008. And the catalyst for privacy is the dawn of the age of AI." You can find the full interview on Cointelegraph YT channel below 👇
6:04

So, why did the Winklevoss twins launch cypherpunk - the first Zcash Treasury Company? Why are they bullish on Zcash 🛡️? Can Bitcoin and Zcash coexist? I caught up with Tyler Winklevoss and Cameron Winklevoss last week for Cointelegraph - here's everything they said about Zcash 👇 "We're huge fans of Bitcoin. We're hodlers, of course, and also huge fans of Zcash, which we view as encrypted Bitcoin." "Bitcoin is where you store your value and Zcash is where you transact or spend your value. And so we launched a DAT, a treasury company for Zcash, but it's really dedicated to privacy and self-sovereignty to help mainstream these ideas. The catalyst for Bitcoin was the financial crisis of 2008. And the catalyst for privacy is the dawn of the age of AI." You can find the full interview on Cointelegraph YT channel below 👇

Gareth Jenkinson

115,069 Aufrufe • vor 9 Monaten

Making Sense Of Strategy What is happening with $MSTR? If you’ve been following me on X for any meaningful length of time, you will know that I have been attempting to calibrate people’s expectations of the stock's performance for the best part of 2025. Here I have synthesised all of my thoughts and distilled them into a single video. If you prefer YouTube, you can watch it here: If you prefer written format, continue reading. The first thing we need to understand is what Strategy is and why people invest in it. Strategy At the highest level, Strategy is leveraged Bitcoin. That’s it. Strategy leverages debt to acquire more Bitcoin. Therefore, the main reason you invest in Strategy is because you want to outperform Bitcoin. The only thing better than Bitcoin is more Bitcoin. The second thing we need to understand is mNAV. mNAV Generally speaking for a pure-play Bitcoin Treasury Company like Strategy, mNAV is a reflection of the market's expectation of future Bitcoin Yield. Bitcoin Yield comes with diminishing returns because each additional Bitcoin purchase contributes less to Bitcoin Per Share. Thus, the larger your Bitcoin stack, the harder it becomes to generate Bitcoin Yield and by extension the harder it becomes to outperform Bitcoin. This is why on a Bitcoin Standard, over a long enough time horizon, mNAV trends towards 1 since the maximum amount of Bitcoin you can own is 21M. With all this in mind, why is Strategy trading where it is and why is it trading at such a low mNAV? There are a few reasons. 1. Strategy Is A Different Company In 2025 Firstly, Strategy is a totally different company in 2025 to the one it was in 2020. For context, believe it or not, the company only introduced Bitcoin Yield and Bitcoin Per Share in the July 2024 Q2 Earnings Call and so it was only after that that they began optimising for those metrics. In my view, that is also when Michael Saylor truly started to understand the opportunity that was in front of him, which is why in October 2024 we saw Strategy announce the 21/21 plan which became the catalyst for the parabolic run we saw in November 2024 where $MSTR went on to briefly hit an all-time-high of around $550. Since people are comparing $MSTR this cycle to the $MSTR of last cycle when it briefly traded at an mNAV of over 8x, it is distorting their expectations. Again, Strategy is a totally different company today with a totally different set of dynamics. 2. New Industry Secondly, we need to recognise that the Bitcoin Treasury Company industry is entirely new which means that the market has been forced to learn and adapt in real-time. With Strategy being the first and by far the largest Bitcoin Treasury Company, it has gained a disproportionate amount of attention and as a result it has attracted a disproportionate amount of speculative capital along the way while everyone has been trying to figure out how to value it. Consequently, in my view, the move we saw in November 2024 was an over-correction to the upside — which by the way coincided with Bitcoin’s parabolic run following Donald Trump’s election win — and what we’re now seeing is an over-correction to the downside. 3. Bitcoin Yield Thirdly, as I mentioned at the beginning, Bitcoin Treasury Companies are currently valued based on how much Bitcoin Yield they are expected to generate in the future. At the time of recording, Strategy currently holds precisely 637,460 Bitcoin — that’s over 3% of the total Bitcoin supply — which means that it is much, much harder to generate meaningful Bitcoin Yield, which again is why we’re seeing the mNAV compress. However, there is a caveat here. There is another metric that Strategy have introduced which is Bitcoin $ Gain. Bitcoin $ Gain is defined as the $ value of newly acquired Bitcoin within any period. Strategy — and I don’t blame them — have been attempting to encourage the market to interpret Bitcoin $ Gain as “earnings” and to value the company based on how much earnings it is expected to generate in the future. For full disclosure, I personally dislike Bitcoin $ Gain as a valuation metric. I think framing it as “earnings” is misleading and disingenuous. I understand why it has been introduced because it speaks the language of Wall Street. However, traditional earnings are final. Bitcoin $ Gain is not because it is forever subject to the price of Bitcoin. Therefore, for Bitcoin $ Gain to be embraced by Wall Street, the market must collectively agree that Bitcoin is going up forever. I remain very sceptical of that happening — especially in the short-to-medium term. However, I am also not attached to my beliefs and so if Wall Street does decide to embrace Bitcoin $ Gain as its primary valuation metric, then $MSTR is likely undervalued by a factor of 5-10x. If not, then $MSTR is likely undervalued by a factor of 1-2x. If you’re not content with the latter being the worst case scenario, then the stock probably isn’t for you. 4. Preferred Products Fourthly, the Strategy thesis right now revolves entirely around the success of its preferred products. Remember, Michael Saylor wants Strategy to become the Amazon of the fixed income market. Thus, we’re not talking about a small innovation here — we are talking about completely transforming global finance. This means that the process of generating awareness and educating the market that will ultimately drive demand for these products is going to take years — not months — which is why you need to have a long time-horizon. Presently, the market is completely discounting the success of Strategy’s preferred products. What it’s not factoring in however is that the capital markets are desperate for yield right now. Thus, when — not if — but when, they eventually wake up to Bitcoin, how do you think they’re going to get that yield? Who is going to be the entity that is offering Bitcoin-backed credit instruments at scale? The answer is obviously Strategy, but again, this is a 5-to-10 year and beyond story. So with all that said, if you’re reading this right now, what should you do? Valuing Strategy There are 3 steps you need to take: 1. Firstly, you need to define your time horizon. In other words, how long do you intend on holding the stock for? 2. Secondly, you need to estimate either — depending on your preferred metric — how much Bitcoin Yield or how much Bitcoin $ Gain you expect Strategy to generate during that period and then calculate how much you expect $MSTR to outperform Bitcoin based on those values. 3. Thirdly, ask yourself whether you’d be satisfied with the level of outperformance you have calculated? In other words, is the trade-off worth it? Or would you be better off investing in either spot Bitcoin, an alternative Bitcoin Treasury Company or a Bitcoin ETF. If you’re satisfied with the level of outperformance that you’ve calculated, then $MSTR it probably a good choice of investment for you. If you're not satisfied, then $MSTR is probably a bad choice of investment for you. I personally believe that $MSTR will outperform Bitcoin by a minimum factor of 1-2x over the next 5/10 years and potentially much more if Bitcoin $ Gain becomes the primary metric by which it is valued, but again, I remain sceptical of that happening. Regardless, the best is yet to come.
11:54

Making Sense Of Strategy What is happening with $MSTR? If you’ve been following me on X for any meaningful length of time, you will know that I have been attempting to calibrate people’s expectations of the stock's performance for the best part of 2025. Here I have synthesised all of my thoughts and distilled them into a single video. If you prefer YouTube, you can watch it here: If you prefer written format, continue reading. The first thing we need to understand is what Strategy is and why people invest in it. Strategy At the highest level, Strategy is leveraged Bitcoin. That’s it. Strategy leverages debt to acquire more Bitcoin. Therefore, the main reason you invest in Strategy is because you want to outperform Bitcoin. The only thing better than Bitcoin is more Bitcoin. The second thing we need to understand is mNAV. mNAV Generally speaking for a pure-play Bitcoin Treasury Company like Strategy, mNAV is a reflection of the market's expectation of future Bitcoin Yield. Bitcoin Yield comes with diminishing returns because each additional Bitcoin purchase contributes less to Bitcoin Per Share. Thus, the larger your Bitcoin stack, the harder it becomes to generate Bitcoin Yield and by extension the harder it becomes to outperform Bitcoin. This is why on a Bitcoin Standard, over a long enough time horizon, mNAV trends towards 1 since the maximum amount of Bitcoin you can own is 21M. With all this in mind, why is Strategy trading where it is and why is it trading at such a low mNAV? There are a few reasons. 1. Strategy Is A Different Company In 2025 Firstly, Strategy is a totally different company in 2025 to the one it was in 2020. For context, believe it or not, the company only introduced Bitcoin Yield and Bitcoin Per Share in the July 2024 Q2 Earnings Call and so it was only after that that they began optimising for those metrics. In my view, that is also when Michael Saylor truly started to understand the opportunity that was in front of him, which is why in October 2024 we saw Strategy announce the 21/21 plan which became the catalyst for the parabolic run we saw in November 2024 where $MSTR went on to briefly hit an all-time-high of around $550. Since people are comparing $MSTR this cycle to the $MSTR of last cycle when it briefly traded at an mNAV of over 8x, it is distorting their expectations. Again, Strategy is a totally different company today with a totally different set of dynamics. 2. New Industry Secondly, we need to recognise that the Bitcoin Treasury Company industry is entirely new which means that the market has been forced to learn and adapt in real-time. With Strategy being the first and by far the largest Bitcoin Treasury Company, it has gained a disproportionate amount of attention and as a result it has attracted a disproportionate amount of speculative capital along the way while everyone has been trying to figure out how to value it. Consequently, in my view, the move we saw in November 2024 was an over-correction to the upside — which by the way coincided with Bitcoin’s parabolic run following Donald Trump’s election win — and what we’re now seeing is an over-correction to the downside. 3. Bitcoin Yield Thirdly, as I mentioned at the beginning, Bitcoin Treasury Companies are currently valued based on how much Bitcoin Yield they are expected to generate in the future. At the time of recording, Strategy currently holds precisely 637,460 Bitcoin — that’s over 3% of the total Bitcoin supply — which means that it is much, much harder to generate meaningful Bitcoin Yield, which again is why we’re seeing the mNAV compress. However, there is a caveat here. There is another metric that Strategy have introduced which is Bitcoin $ Gain. Bitcoin $ Gain is defined as the $ value of newly acquired Bitcoin within any period. Strategy — and I don’t blame them — have been attempting to encourage the market to interpret Bitcoin $ Gain as “earnings” and to value the company based on how much earnings it is expected to generate in the future. For full disclosure, I personally dislike Bitcoin $ Gain as a valuation metric. I think framing it as “earnings” is misleading and disingenuous. I understand why it has been introduced because it speaks the language of Wall Street. However, traditional earnings are final. Bitcoin $ Gain is not because it is forever subject to the price of Bitcoin. Therefore, for Bitcoin $ Gain to be embraced by Wall Street, the market must collectively agree that Bitcoin is going up forever. I remain very sceptical of that happening — especially in the short-to-medium term. However, I am also not attached to my beliefs and so if Wall Street does decide to embrace Bitcoin $ Gain as its primary valuation metric, then $MSTR is likely undervalued by a factor of 5-10x. If not, then $MSTR is likely undervalued by a factor of 1-2x. If you’re not content with the latter being the worst case scenario, then the stock probably isn’t for you. 4. Preferred Products Fourthly, the Strategy thesis right now revolves entirely around the success of its preferred products. Remember, Michael Saylor wants Strategy to become the Amazon of the fixed income market. Thus, we’re not talking about a small innovation here — we are talking about completely transforming global finance. This means that the process of generating awareness and educating the market that will ultimately drive demand for these products is going to take years — not months — which is why you need to have a long time-horizon. Presently, the market is completely discounting the success of Strategy’s preferred products. What it’s not factoring in however is that the capital markets are desperate for yield right now. Thus, when — not if — but when, they eventually wake up to Bitcoin, how do you think they’re going to get that yield? Who is going to be the entity that is offering Bitcoin-backed credit instruments at scale? The answer is obviously Strategy, but again, this is a 5-to-10 year and beyond story. So with all that said, if you’re reading this right now, what should you do? Valuing Strategy There are 3 steps you need to take: 1. Firstly, you need to define your time horizon. In other words, how long do you intend on holding the stock for? 2. Secondly, you need to estimate either — depending on your preferred metric — how much Bitcoin Yield or how much Bitcoin $ Gain you expect Strategy to generate during that period and then calculate how much you expect $MSTR to outperform Bitcoin based on those values. 3. Thirdly, ask yourself whether you’d be satisfied with the level of outperformance you have calculated? In other words, is the trade-off worth it? Or would you be better off investing in either spot Bitcoin, an alternative Bitcoin Treasury Company or a Bitcoin ETF. If you’re satisfied with the level of outperformance that you’ve calculated, then $MSTR it probably a good choice of investment for you. If you're not satisfied, then $MSTR is probably a bad choice of investment for you. I personally believe that $MSTR will outperform Bitcoin by a minimum factor of 1-2x over the next 5/10 years and potentially much more if Bitcoin $ Gain becomes the primary metric by which it is valued, but again, I remain sceptical of that happening. Regardless, the best is yet to come.

Chris Millas

36,835 Aufrufe • vor 11 Monaten

Harvey Levin says the latest letter sent to TMZ isn’t a ransom note but a demand for one bitcoin in exchange for the alleged kidnapper’s identity: “This letter that we got this morning is not a ransom letter. It is a letter saying that the person who wrote it knows the identity of the kidnapper, and for the price of one bitcoin, that person will disclose the information. The person gives a bitcoin address. We have checked it all day so far, and there is no bitcoin that has been deposited. If this is a hoax, it’s a crime. We’ve turned this over to the FBI and the sheriff’s department.”
0:38

Harvey Levin says the latest letter sent to TMZ isn’t a ransom note but a demand for one bitcoin in exchange for the alleged kidnapper’s identity: “This letter that we got this morning is not a ransom letter. It is a letter saying that the person who wrote it knows the identity of the kidnapper, and for the price of one bitcoin, that person will disclose the information. The person gives a bitcoin address. We have checked it all day so far, and there is no bitcoin that has been deposited. If this is a hoax, it’s a crime. We’ve turned this over to the FBI and the sheriff’s department.”

Sean Hannity 🇺🇸

220,432 Aufrufe • vor 6 Monaten

.Erik Voorhees: It’s actually good, from the Trojan horse perspective, that Bitcoin was traceable enough for traditional institutions to tolerate it. “When Bitcoin came out, everyone called it private, thought of it as private. It was referred to as anonymous in every news story. And in some ways, it is very private and very anonymous. But the truth is that it’s also extremely trackable and traceable. It is not private in reality. And the question is, should it have been from the start? And at first I thought, yes, it should have been more private. And that was a mistake in its design. However, I think if Bitcoin had been anonymous truly from the start, like a Zcash or a Monero, it would have had such antagonism from the state. I don’t know that the state could have snuffed it out, but they would have tried much harder. And I think it’s actually good, from the Trojan horse metaphor perspective, that it was traceable enough that the traditional institutions could tolerate it. They’ve never liked it, but they could at least tolerate it because there is some traceability. And that has allowed Bitcoin to grow. And I think in its shadow, that other crypto assets are actually anonymous is very healthy. The strength of cryptocurrency as a concept in society, I think, is served best when Bitcoin itself is not perfectly private, but other assets are. That is a very difficult thing, I think, for the state to combat. And that decentralization of attributes is really, really crucial. So, yeah, I’m very glad that there are other coins that are private. I want there to be more of them, and I want them to be more popular. And I think it’s okay that Bitcoin itself is not.”
2:11

.Erik Voorhees: It’s actually good, from the Trojan horse perspective, that Bitcoin was traceable enough for traditional institutions to tolerate it. “When Bitcoin came out, everyone called it private, thought of it as private. It was referred to as anonymous in every news story. And in some ways, it is very private and very anonymous. But the truth is that it’s also extremely trackable and traceable. It is not private in reality. And the question is, should it have been from the start? And at first I thought, yes, it should have been more private. And that was a mistake in its design. However, I think if Bitcoin had been anonymous truly from the start, like a Zcash or a Monero, it would have had such antagonism from the state. I don’t know that the state could have snuffed it out, but they would have tried much harder. And I think it’s actually good, from the Trojan horse metaphor perspective, that it was traceable enough that the traditional institutions could tolerate it. They’ve never liked it, but they could at least tolerate it because there is some traceability. And that has allowed Bitcoin to grow. And I think in its shadow, that other crypto assets are actually anonymous is very healthy. The strength of cryptocurrency as a concept in society, I think, is served best when Bitcoin itself is not perfectly private, but other assets are. That is a very difficult thing, I think, for the state to combat. And that decentralization of attributes is really, really crucial. So, yeah, I’m very glad that there are other coins that are private. I want there to be more of them, and I want them to be more popular. And I think it’s okay that Bitcoin itself is not.”

Arjun Khemani

23,056 Aufrufe • vor 1 Monat

Everyone agrees that Bitcoin is in a league of its own. Sadly, for 15 years, it has also been in a lonely world of its own - until now. With BOS, Bitcoin will understand activity on Cardano, and in the rest of the world. 🟠🔵🌎 Bitcoin can be the foundation that crypto needs!
1:52

Everyone agrees that Bitcoin is in a league of its own. Sadly, for 15 years, it has also been in a lonely world of its own - until now. With BOS, Bitcoin will understand activity on Cardano, and in the rest of the world. 🟠🔵🌎 Bitcoin can be the foundation that crypto needs!

BOS

28,717 Aufrufe • vor 1 Jahr

Former BlackRock fund manager Ed Dowd: "The metals are telling you that there's uncertainty out there and a lack of trust... [and] that gold and silver are going to be part of the new monetary system... [so] gold and silver are the trade and not Bitcoin so much." This clip of Dowd (Edward Dowd), who is also the founder of Phinance Technologies, is taken from a discussion with Michael Farris (Michael Farris) posted to YouTube on January 13, 2026. ---------------Partial transcription of clip--------------- "The metals are telling you that there's uncertainty out there and a lack of trust. I think the big, the moves in gold and silver are really discounting a lack of trust and fear of what is coming and what it's going to look like. And, and also it's also telling you that gold and silver are going to be part of the new monetary system. "And Bitcoin, interestingly enough, has stalled out. It's down 20% since October, the high in October and Bitcoin is barely up today. So, you know, there was always this thesis around Bitcoin that when when there's a new monetary system comes, it's going to, it's going to be protection against, you know, any of that kind of uncertainty. It's increasing. It's becoming increasingly obvious to me that gold and silver are the trade and not Bitcoin so much. "And Bitcoin, unfortunately, is very highly correlated to the Nasdaq and it's disconnected from the Nasdaq. The Nasdaq and Bitcoin have disconnected temporarily. Generally speaking, they're highly correlated. So what does that say? Does that say Nasdaq is going to catch up down to Bitcoin or is Bitcoin going to rally back up? I think that the Nasdaq is going to go down to bitcoin. So that's where we are."
1:15

Former BlackRock fund manager Ed Dowd: "The metals are telling you that there's uncertainty out there and a lack of trust... [and] that gold and silver are going to be part of the new monetary system... [so] gold and silver are the trade and not Bitcoin so much." This clip of Dowd (Edward Dowd), who is also the founder of Phinance Technologies, is taken from a discussion with Michael Farris (Michael Farris) posted to YouTube on January 13, 2026. ---------------Partial transcription of clip--------------- "The metals are telling you that there's uncertainty out there and a lack of trust. I think the big, the moves in gold and silver are really discounting a lack of trust and fear of what is coming and what it's going to look like. And, and also it's also telling you that gold and silver are going to be part of the new monetary system. "And Bitcoin, interestingly enough, has stalled out. It's down 20% since October, the high in October and Bitcoin is barely up today. So, you know, there was always this thesis around Bitcoin that when when there's a new monetary system comes, it's going to, it's going to be protection against, you know, any of that kind of uncertainty. It's increasing. It's becoming increasingly obvious to me that gold and silver are the trade and not Bitcoin so much. "And Bitcoin, unfortunately, is very highly correlated to the Nasdaq and it's disconnected from the Nasdaq. The Nasdaq and Bitcoin have disconnected temporarily. Generally speaking, they're highly correlated. So what does that say? Does that say Nasdaq is going to catch up down to Bitcoin or is Bitcoin going to rally back up? I think that the Nasdaq is going to go down to bitcoin. So that's where we are."

Sense Receptor

136,648 Aufrufe • vor 6 Monaten

There have been whispers of Bitcoin hodlers swapping BTC for Zcash 🤔🔏 Why? Because some Bitcoiners want to be able to transact with more privacy. BUT Bitcoin can still have NATIVE privacy and scale. Eli Ben-Sasson | Starknet.io explains how ZK-proofs and OP_CAT hold the key 🗝️👇 We caught up with the 'Godfather of ZK' on Cointelegraph's Chain Reaction show this week for a deep dive into the promise of zero-knowledge technology for Bitcoin and beyond. Ben-Sasson, who co-authored the ZeroCash protocol whitepaper and helped found Zcash 🛡️, said that Bitcoin can still have native privacy and infinite scalability if developers can agree to reinstate OP_CAT, a Satoshi-era OP_Code that Bitcoin's creator disabled in 2010. It turns out that Zcash's resurgence in 2025 could be the catalyst for Bitcoin's privacy push. "I hope that one consequence of this would be that the Bitcoin community becomes more open to things like OP_CAT and OP_STARK so that it can have post-quantum security, best privacy, best scale and programmability for this beautiful hard asset that is Bitcoin." Ben-Sasson said. "The technology is ready. All you need is a soft fork adding nine lines of code that Satoshi actually introduced. It's called OP_CAT. It's very, very easy. If there's a will, there's a way. In this case, it's a very simple way to give all of that goodness to Bitcoin itself." You can watch our full conversation with Ben-Sasson in the 🧵👀📺
4:30

There have been whispers of Bitcoin hodlers swapping BTC for Zcash 🤔🔏 Why? Because some Bitcoiners want to be able to transact with more privacy. BUT Bitcoin can still have NATIVE privacy and scale. Eli Ben-Sasson | Starknet.io explains how ZK-proofs and OP_CAT hold the key 🗝️👇 We caught up with the 'Godfather of ZK' on Cointelegraph's Chain Reaction show this week for a deep dive into the promise of zero-knowledge technology for Bitcoin and beyond. Ben-Sasson, who co-authored the ZeroCash protocol whitepaper and helped found Zcash 🛡️, said that Bitcoin can still have native privacy and infinite scalability if developers can agree to reinstate OP_CAT, a Satoshi-era OP_Code that Bitcoin's creator disabled in 2010. It turns out that Zcash's resurgence in 2025 could be the catalyst for Bitcoin's privacy push. "I hope that one consequence of this would be that the Bitcoin community becomes more open to things like OP_CAT and OP_STARK so that it can have post-quantum security, best privacy, best scale and programmability for this beautiful hard asset that is Bitcoin." Ben-Sasson said. "The technology is ready. All you need is a soft fork adding nine lines of code that Satoshi actually introduced. It's called OP_CAT. It's very, very easy. If there's a will, there's a way. In this case, it's a very simple way to give all of that goodness to Bitcoin itself." You can watch our full conversation with Ben-Sasson in the 🧵👀📺

Gareth Jenkinson

32,003 Aufrufe • vor 9 Monaten

afraid I’m gonna get roasted for this, but I did buy some Zcash Curious about the potential of privacy coins and think it’s a solution to a very powerful problem, spending can be too transparent on blockchains I view Zcash as complimentary to Bitcoin and Ethereum. The crypto ecosystem is evolving and growing up my thesis is Zcash /privacy coins could easy be 10-20% of Bitcoin’s market cap, maybe the shadow crypto network will be just as big as Bitcoin … so getting a piece of Zcash at 0.5% of Bitcoin network value made sense Why Zcash over other privacy coins? All gossip, but I’ve heard they have an insanely good technical team. Pioneers of this tech. Also there’s a self fulfilling prophecy network effect ✨ as Zcash takes off its privacy pool gets bigger and bigger making it more useful and more anonymized, as it’s easier to move big sums of value and be hidden. Therefore increasing its intrinsic value Buying something running so fast has got me feeling like an idiot forsure. But can’t get over the idea that privacy coins are going to be a big part of crypto going forward Don’t get me wrong, this is almost bullish for Bitcoin. Zcash needed Bitcoin to establish crypto. Now as the ecosystem matures new coins will pop up, not disrupting the incumbents but complimenting them What do you think ? #ZEC What are your thoughts on privacy coins??
0:44

afraid I’m gonna get roasted for this, but I did buy some Zcash Curious about the potential of privacy coins and think it’s a solution to a very powerful problem, spending can be too transparent on blockchains I view Zcash as complimentary to Bitcoin and Ethereum. The crypto ecosystem is evolving and growing up my thesis is Zcash /privacy coins could easy be 10-20% of Bitcoin’s market cap, maybe the shadow crypto network will be just as big as Bitcoin … so getting a piece of Zcash at 0.5% of Bitcoin network value made sense Why Zcash over other privacy coins? All gossip, but I’ve heard they have an insanely good technical team. Pioneers of this tech. Also there’s a self fulfilling prophecy network effect ✨ as Zcash takes off its privacy pool gets bigger and bigger making it more useful and more anonymized, as it’s easier to move big sums of value and be hidden. Therefore increasing its intrinsic value Buying something running so fast has got me feeling like an idiot forsure. But can’t get over the idea that privacy coins are going to be a big part of crypto going forward Don’t get me wrong, this is almost bullish for Bitcoin. Zcash needed Bitcoin to establish crypto. Now as the ecosystem matures new coins will pop up, not disrupting the incumbents but complimenting them What do you think ? #ZEC What are your thoughts on privacy coins??

Gali

18,644 Aufrufe • vor 8 Monaten

So, does it matter that Bitcoin seems to be moving away from its cypherpunk roots? Bitcoin ETFs and Bitcoin Treasuries have taken BTC mainstream. So I asked Saifedean Ammous this very question. His answer might surprise you... 👀👇 "If you have very strong feelings about how people should and shouldn't use Bitcoin, you're in for a rough time." "To be honest, a lot of people project too much onto Bitcoin. Ultimately, it's just a bunch of software and anybody can use it in any way they want. Initially, it's a small subset of people that use it and then they start projecting their values onto it. And then over time, they expect it to continue to abide by that," Ammous said. "If it's a successful technology, it's going to be used by everybody. It's going to be used by small businesses, large businesses, governments, individuals. It's money. Everybody uses money. There are 8.5 billion people on Earth, they all use money and they're all going to continue to use money. And Bitcoin is just the best money." Ultimately, the protocol itself is immune to the financial instruments that TradFi has concocted. If people want to lend against their BTC or create complex financial products, that does not actually impact the underlying network. "The way that the protocol works is that it's completely blind to what you're doing with your coins on the Bitcoin blockchain there is no paper Bitcoin there's no such thing as paper Bitcoin there's only 21 million Bitcoin and every node makes sure of that every 10 minutes and then if somebody who has some of these Bitcoin on their private key decides to sell obligations or financial liabilities referring to that Bitcoin under any condition, that's their choice. It's outside of Bitcoin and it's outside of the realm of other Bitcoin users being able to say this is right or wrong and this should happen or shouldn't happen. People are going to do whatever they want with the Bitcoin, including selling access to it or exposure to it in all kinds of different ways. And if you don't like it, you don't buy it, you can stack your own Bitcoin." You can find the full interview for Cointelegraph in the 🧵. If you enjoyed this content, please like 🧡, retweet 🔁 and follow me 👋!
1:57

So, does it matter that Bitcoin seems to be moving away from its cypherpunk roots? Bitcoin ETFs and Bitcoin Treasuries have taken BTC mainstream. So I asked Saifedean Ammous this very question. His answer might surprise you... 👀👇 "If you have very strong feelings about how people should and shouldn't use Bitcoin, you're in for a rough time." "To be honest, a lot of people project too much onto Bitcoin. Ultimately, it's just a bunch of software and anybody can use it in any way they want. Initially, it's a small subset of people that use it and then they start projecting their values onto it. And then over time, they expect it to continue to abide by that," Ammous said. "If it's a successful technology, it's going to be used by everybody. It's going to be used by small businesses, large businesses, governments, individuals. It's money. Everybody uses money. There are 8.5 billion people on Earth, they all use money and they're all going to continue to use money. And Bitcoin is just the best money." Ultimately, the protocol itself is immune to the financial instruments that TradFi has concocted. If people want to lend against their BTC or create complex financial products, that does not actually impact the underlying network. "The way that the protocol works is that it's completely blind to what you're doing with your coins on the Bitcoin blockchain there is no paper Bitcoin there's no such thing as paper Bitcoin there's only 21 million Bitcoin and every node makes sure of that every 10 minutes and then if somebody who has some of these Bitcoin on their private key decides to sell obligations or financial liabilities referring to that Bitcoin under any condition, that's their choice. It's outside of Bitcoin and it's outside of the realm of other Bitcoin users being able to say this is right or wrong and this should happen or shouldn't happen. People are going to do whatever they want with the Bitcoin, including selling access to it or exposure to it in all kinds of different ways. And if you don't like it, you don't buy it, you can stack your own Bitcoin." You can find the full interview for Cointelegraph in the 🧵. If you enjoyed this content, please like 🧡, retweet 🔁 and follow me 👋!

Gareth Jenkinson

34,417 Aufrufe • vor 8 Monaten

. Raoul Pal reveals he's been buying $ZEC during this recent market correction, and why he thinks it could be worth 5-10% of Bitcoin "In the world of store of value, there was only one really. But now we've got another one: Zcash 🛡️ - Bitcoin with privacy." "I talked to Barry Silbert about this the other day. To assume it could be 10% of Bitcoin, 5% of Bitcoin - that's great, in terms of how much economic value it has." "Privacy in the world has value for people, and I think people will understand that more." Podcast out this Thursday! Real Vision
1:12

. Raoul Pal reveals he's been buying $ZEC during this recent market correction, and why he thinks it could be worth 5-10% of Bitcoin "In the world of store of value, there was only one really. But now we've got another one: Zcash 🛡️ - Bitcoin with privacy." "I talked to Barry Silbert about this the other day. To assume it could be 10% of Bitcoin, 5% of Bitcoin - that's great, in terms of how much economic value it has." "Privacy in the world has value for people, and I think people will understand that more." Podcast out this Thursday! Real Vision

MR SHIFT 🦁

138,281 Aufrufe • vor 2 Monaten

Ansem explains why zcash:native should trade at a much higher ratio to bitcoin:native "Zcash has a lot of the same features as Bitcoin, but it's quantum-resistant and it's private. A lot of the core believers who were early to Bitcoin were also early to Zcash" "When a ton of smart people work on a really hard technological problem, solve it, and the only thing missing is attention, those are typically the best trades" "Zcash should benefit from Bitcoin doing well, and it should be at a much higher ratio to Bitcoin than it currently is"
1:30

Ansem explains why zcash:native should trade at a much higher ratio to bitcoin:native "Zcash has a lot of the same features as Bitcoin, but it's quantum-resistant and it's private. A lot of the core believers who were early to Bitcoin were also early to Zcash" "When a ton of smart people work on a really hard technological problem, solve it, and the only thing missing is attention, those are typically the best trades" "Zcash should benefit from Bitcoin doing well, and it should be at a much higher ratio to Bitcoin than it currently is"

Market Bubble

39,596 Aufrufe • vor 1 Monat

Matthew Kratter of Bitcoin University on being self sovereign with Bitcoin: "The Michael Saylor followers right now who think that they're somehow Bitcoiners when they own a preferred stock that sits in their brokerage account and can be censored at any time... There's operational risks with that and there's leverage risks. And the actual Bitcoin that secures the assets of the balance sheet of the company is sitting at various custodians." "Having things in centralized places, having Bitcoin IOUs or anything like this is a big mistake." "If you don't know how to move Bitcoin around, if you don't know how to send it on-chain... you're going to be dependent on larger services. And the risk is that those don't even have the Bitcoin that they say that they do."
2:11

Matthew Kratter of Bitcoin University on being self sovereign with Bitcoin: "The Michael Saylor followers right now who think that they're somehow Bitcoiners when they own a preferred stock that sits in their brokerage account and can be censored at any time... There's operational risks with that and there's leverage risks. And the actual Bitcoin that secures the assets of the balance sheet of the company is sitting at various custodians." "Having things in centralized places, having Bitcoin IOUs or anything like this is a big mistake." "If you don't know how to move Bitcoin around, if you don't know how to send it on-chain... you're going to be dependent on larger services. And the risk is that those don't even have the Bitcoin that they say that they do."

Simply Bitcoin

20,525 Aufrufe • vor 2 Monaten

Hodlonaut on the illusion that just shattered: "We bypassed the social layer, the human layer. We somehow thought the virtue and direction of this protocol was set in stone, no matter what developers do. That's obviously not true. Bitcoin didn't win. Bitcoin can change. Bitcoin is changing. Bitcoin has changed. The illusion that we had a foothold in this world we could put our energy on, that illusion is gone right now. All you want is to sit back posting 'Bitcoin fixes this, number go up, stay humble, stack sats,' and anyone sounding an alarm is seen as a threat. We need Bitcoiners to fight for Bitcoin. If no one fights for Bitcoin, Bitcoin will very soon be dead." hodlonaut #BIP-110 on The The Bitcoin Matrix Podcast ⚡️ #286.
0:31

Hodlonaut on the illusion that just shattered: "We bypassed the social layer, the human layer. We somehow thought the virtue and direction of this protocol was set in stone, no matter what developers do. That's obviously not true. Bitcoin didn't win. Bitcoin can change. Bitcoin is changing. Bitcoin has changed. The illusion that we had a foothold in this world we could put our energy on, that illusion is gone right now. All you want is to sit back posting 'Bitcoin fixes this, number go up, stay humble, stack sats,' and anyone sounding an alarm is seen as a threat. We need Bitcoiners to fight for Bitcoin. If no one fights for Bitcoin, Bitcoin will very soon be dead." hodlonaut #BIP-110 on The The Bitcoin Matrix Podcast ⚡️ #286.

Cedric Youngelman ⚡️

31,533 Aufrufe • vor 11 Tagen