BSOL72

Scarcity; Endurance; Owner Alignment

[BSOL72 @BSOL72]

@BKKT is positioning itself as the compliant AI-plus-payments infrastructure layer that regulated institutions will need as they’re forced off third-party AI APIs. Another excellent article by @0xtuytuy on $BKKT & 🫧 👀 @thebtcpharaoh & @mriemer & @jwat_5

[Remi Tuyaerts @0xtuytuy]

https://t.co/9lz1akG1yk

[THE BITCOIN PHARAOH @thebtcpharaoh]

$BKKT

[BSOL72 @BSOL72]

@philliplord1 @bitcoincojp Why not make a strategic investment in MetaPlanet at below 1mNav instead? @bitcoincojp and @Bakkt shareholders would stand to benefit in the long term > spot #BTC and align with a fellow Japanese listed company and management excellence by @gerovich & @DylanLeClair 👀

[BSOL72 @BSOL72]

The shareholders in my community agree with @ryQuant & @BitStrategy21 ; $MSTR will have unprecedented optionality in the years to come. Study Rockefeller. We trust @saylor & @phongle to build Digital Rome; the New Berkshire.

[Retail Ry 🏧🟧 @ryQuant]

@CJ_Bitcoin @Strategy May I?

What the people want,
is Digital Rome.

We want a Ruthless Monopoly. (RM)

The unprecedented opportunity of Bitcoin is not the end, rather it’s just the beginning of @Strategy.

[BSOL72 @BSOL72]

@bitcoincojp 👀 @UncleDividends & @gerovich 👋

[BSOL72 @BSOL72]

👀 @philliplord1 & @Akshay_Naheta & @mikealfred Bitcoin Japan Corp should align with @DylanLeClair and invest in @Metaplanet instead of spot #BTC - a win for https://t.co/9RiWyuAcoN & $BKKT shareholders at below 1 mNav for https://t.co/9NjKrR59Bq 👋 @thebtcpharaoh .

[Dylan LeClair @DylanLeClair]

My keynote at BFC in NYC on the state of the $BTC market, how this bear market sets the stage for the next bull, and Metaplanet’s vision to massively grow adoption in Japan & abroad.

[BSOL72 @BSOL72]

@thebtcpharaoh @UncleDividends @DylanLeClair Agreed. I’m BTC class of 2020 and remember @DylanLeClair and a couple of others emerging as the next gen of on-chain analysts. Most of the others have faded into obscurity. I recall in the 22 / 23 bear market Dylan was deep diving into global macro & credit. 💪🏽

[BSOL72 @BSOL72]

@Freedom_By_40 Thank you 🙏 Interested to know your thoughts on $BKKT .

[BSOL72 @BSOL72]

@Bakkt ‘s Indian 🇮🇳 subsidiary is performing well! $BKKT - not sure the “market” has figured this out (or it’s Japanese subsidiary, Bitcoin Japan Corp, for that matter) 👀

[BSOL72 @BSOL72]

@BritishHodl 👌🏽 Have you seen the G Shock MR G models? Which other watches are you fond of? Cheers.

[BSOL72 @BSOL72]

@philliplord1 Very cool 👌🏽 $BKKT shareholders look forward to learning more about the way forward for Bitcoin Japan Corp 🙌

[BSOL72 @BSOL72]

$BKKT ‘s subsidiaries in #japan & #india are making moves… Hopefully @Bakkt follows suit with an announcement (or two) soon … @Akshay_Naheta @mikealfred 💪🏽

[Bitcoin Japan @bitcoincojp]

Today we announced @bitcoincojp’s investment in @figure_robot.

We will continue deploying capital into exceptional businesses where we believe we can create long-term shareholder value.

Disciplined. Selective. Long-term.

$8105 #AI #Japan #Robots

[BSOL72 @BSOL72]

A second investment announced by $BKKT subsidiary Bitcoin Japan - this time Figure AI (the first investment was $SPCX )… 👀 @thebtcpharaoh

[サラリーマンと漁師 @katsuuranohito]

Figure AI社には2024年実施の総額6億7500万ドルのシリーズBの調達ラウンドで、Microsoft、OpenAI、NVIDIA、Amazon（ジェフ・ベゾス氏）、Intel、ARK Investなどが出資を主導・参加。 #BitcoinJapan(@bitcoincojp)
https://t.co/BEnZKPSMfg

[BSOL72 @BSOL72]

Excellent capital allocation by @Akshay_Naheta for $BKKT

[THE BITCOIN PHARAOH @thebtcpharaoh]

This position keeps printing for Bakkt. All paper gains, but now worth a net $150M to $BKKT shareholders; 40% of the $370M mcap.

[BSOL72 @BSOL72]

@BitStrategy21 @saylor @phongle Do you have any thoughts re Shirish Jajodia being on the Strive board? Seems to indicate wilful alignment.

[BSOL72 @BSOL72]

Excellent interview with @thebtcpharaoh discussing the @Metaplanet synopsis & investment case - synergies with $BKKT for “streaming of perpetual pref dividends “? @Akshay_Naheta & @mikealfred

[One Chair @OneChairPod]

“Their end game is to become a multi-jurisdictional black hole.”

- @TheBTCPharaoh

That may be the real Metaplanet endgame:

Not just a company buying Bitcoin,

but a financial gravity well designed to pull capital from multiple jurisdictions into BTC.

[BSOL72 @BSOL72]

The investment case: $MSTR + patient capital = scarcity, endurance and a singular focus 👀 @MJWeeks @RonStoeferle

[Jeff Walton @PunterJeff]

Structural reasons to hold $MSTR
1. @Strategy is a corporation embedded in market cap weighted index funds. As balance sheet value and market cap rise (price + share issuance), Strategy’s weight in those indexes increases, forcing passive funds to rebalance and buy more. An estimated 50–60% of net new equity capital flows into passive index vehicles. This is reflexivity (cuts both ways)
2. Leveraged Bitcoin exposure with effectively zero explicit expense ratio versus spot BTC ETFs.
3. Deep, liquid options market on top of liquid spot, enables sophisticated hedging and yield strategies.
4. Bitcoin is used as productive capital, taking calculated risk to generate BTC yield instead of sitting idle. (Increasing “potency” of Bitcoin exposure per share)
5. The $STRC digital credit “machine” targets the largest TAM on the planet: global credit.
6. The “replacement cost” of rebuilding the MSTR BTC treasury (4% of network), capital markets team, AI operating business, and index inclusion, is plausibly in the $75–100B range.
7. Convexity: structurally higher beta than BTC, with upside that can outpace the underlying asset over a full halving and business cycle
8. Transparent, frequent capital markets communication, ability to price risk 24/7/365
9. Can be held in IRAs, 401(k)s, HSAs, and standard brokerage accounts where pure BTC exposure is still constrained.
10. Ability to build a holistic Long BTC portfolio across BTC correlated risk/return profiles (STRC / BTC / MSTR).

Structural reasons to trade $MSTR
1. Reflexivity of passive, market cap weighted index flows cuts both ways; forced buying on the way up, forced selling on the way down.
2. Deep options and spot liquidity support tactical positioning, volatility trading, and basis trades.
3. Clean ability to hedge BTC exposure in both directions with structural leverage through the equity and derivatives.
4. Speculation surrounding sentiment, funding, and non‑consensus data points (mNAV, index inclusion/exclusion risk, STRC pricing, issuance cadence, etc.).

How I frame the position
- Just because you don’t want to hold $MSTR for X/Y/Z reasons doesn’t mean the rest of the market agrees. Roughly 60% of the equity market operates like a rules based “zombie” that buys market cap weighted index funds; those rules, not emotions, drive flows.
- Actively holding spot $MSTR means you are structurally long a Bitcoin bull thesis. It will trade with more volatility than BTC; historically, $MSTR has run at roughly a 1.5x rolling beta to Bitcoin.
- If your mental model is a 4-year holding period for BTC (one business cycle/halving), the mathematically appropriate duration for $MSTR is longer given the higher beta and volatility.
There will be periods, (like right now, and like 2022) when the market (X especially) is extremely noisy and misses the forest for the trees. If you liked the $MSTR thesis at $500, you’re now being offered the same balance sheet and strategy at a ~80% discount.

I’m still incredibly long $MSTR, with a very meaningful share of my net worth in the equity.

Do I enjoy being down ~80% from ATH? Of course not. But after 12 years in the capital markets, I’ve learned that REAL capital is brutally hard to accumulate.

I’ve watched insurance companies grind for years to make ~$60M on a $1B balance sheet, with massive overhead, heavy regulatory drag, underwriting risk, and aging legacy tech.

By comparison, a Digital Credit capital structure like Strategy’s is the most efficient and antifragile capital accumulation machine I’ve ever seen (Name another corporation that has gone from $250M to $60B in capital in under 6 years). That’s why, despite the drawdown, I still want exposure to this vehicle on top of my BTC.

I trust the capital structure, I trust the team.

[BSOL72 @BSOL72]

#AI on it’s future spending habits $BKKT x $MTPLF 👀 @thebtcpharaoh & @mikealfred @DylanLeClair & @UncleDividends & @gerovich

[BoxLongs @BoxLongs]

$BKKT what claude thinks - @jwat_5

This is a significant post. Remi Tuyaerts (Bakkt's CTO and DTR co-founder) is publicly laying out Bakkt's strategic positioning in the emerging "agentic payments" infrastructure war. Let me break down what matters for the thesis.

What he's saying:
Six competing protocols have launched for AI agent-to-agent payments: Stripe/OpenAI (ACP), Google (AP2), Visa (Trusted Agent Protocol), Mastercard (Agentic Tokens), Coinbase (x402), and Stripe/Tempo (MPP). Remi's argument is that most of these are just tokenized card transactions in a new wrapper, and that card rails are structurally wrong for the use case. Agents don't need chargebacks or merchant checkout flows. They need programmable, instant, micropayment-capable settlement, which means stablecoins.

The key paragraph for BKKT:
He explicitly states Bakkt is building toward this: an MCP server with API-first primitives, stablecoin rails on the backend, where every function (auth, balance, funding, transfer, settlement) is callable by software before it's callable by a human. Agent wallets funded in stablecoins as the native motion, not a translation through card rails.
What this means for the investment case:

It confirms Bakkt Agent / Zaira is being architected as agentic payments infrastructure, not just a consumer payments app. This is a TAM expansion signal. The framing is no longer "stablecoin remittances" or "cross-border payments." It's positioning Bakkt as the settlement layer for machine-to-machine commerce. That's a fundamentally different (and larger) market than what the sell-side is modeling.
The "MCP server" reference is concrete. MCP (Model Context Protocol, Anthropic's standard) is rapidly becoming the default way AI agents interact with external tools. Bakkt building an MCP server means any AI agent (Claude, GPT, etc.) could natively call Bakkt's payment primitives. That's distribution through the AI developer ecosystem, not through traditional fintech sales cycles.
He's drawing the consolidation map. His prediction is six protocols collapse to two or three, and the survivors will be the ones with programmable settlement + identity abstraction. He's explicitly positioning Bakkt in that survivor camp alongside x402/Coinbase, and against tokenized card approaches from Visa/Mastercard. This is a bold bet against the incumbents' wrappers.
The timing matters. This post drops one week before the Bakkt AGM (June 23) and during the period where Bakkt Agent's named distribution partnership is expected to be announced. Remi wouldn't be publishing a thought leadership piece framing Bakkt's infrastructure positioning unless they're getting ready to show something.

What to watch:
The gap between vision and revenue is still wide. He acknowledges x402 (the closest comparable) is doing ~$28K in real daily volume, mostly test traffic. The infrastructure thesis is directionally right but pre-revenue for everyone in this space. The question is whether Bakkt can convert the DTR tech stack + regulatory licensing + Zaira into a first-mover position before Coinbase or Stripe absorb the category.
Bottom line: This post reframes what Bakkt Agent actually is. It's not a payments app competing with Wise or PayPal. It's infrastructure for AI agents to settle with each other using stablecoins. If that framing holds, the comp set and valuation framework change entirely. It's also the CTO publicly signaling product readiness in a way that lines up with the expected 2H26 launch timeline.

[BSOL72 @BSOL72]

Consider the architecture for the $BKKT agentic payments system as described by by @0xtuytuy … 👀 @thebtcpharaoh

[サラリーマンと漁師 @katsuuranohito]

#Bakkt(@bakkt)がステーブルコイン決済について本格的にPRを開始したもよう。

・Rémi Tuyaerts氏(@0xtuytuy )がステーブルコイン決済を裏側に備えた新基盤について記事を投稿
https://t.co/aHUglrv2mH
・公式が具体的にPR
https://t.co/IchREZKjRt
・APIドキュメント更新
https://t.co/wJuWapjPUw

[BSOL72 @BSOL72]

@katsuuranohito @mikealfred 👀@thebtcpharaoh & @BoxLongs