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Michael Saylor's Strategy is sitting on a $8.5 billion unrealized loss on Bitcoin.
Strategy sold $2.5 million of Bitcoin two days ago. Bitcoin fell another five thousand in the two days since. Saylor posted "โฟack to Work" at 8 AM ET this morning. 898,000 views in seven hours.
A sovereign holder does not have an unrealized loss.
A sovereign holder has a stack and a price they don't watch. Your wallet doesn't report to shareholders. Your seed phrase doesn't file a 10-Q.
Strategy is a publicly traded corporate Bitcoin proxy. The price chart became a spectacle because the shares became a vehicle. The vehicle has investors. The investors need a tweet.
Sovereignty doesn't tweet "back to work."
Sovereignty doesn't ever stop working.
A self-custodied holder watching today's price chart is not waiting for Saylor's signal.
Bitcoin sent to your own wallet does something Strategy stock can't do. It clears in ten minutes and stops asking for your attention.
Stack the way the seed phrase stacks.
Quietly, without an audience.
@JonathanSh20873@MarioNawfal Would I still want to hold Bitcoin over everything else?
Damn strait.
I've also held from 20k to 3k and I'm in this for more than temporary price movements.
- Zach ๐งโโ๏ธ
@BitcoinMagazine The world's largest brokerage just told 34 million Americans: Bitcoin belongs in the financial system. They're right. 24/7 settlement is where all money is going.
@TheBitcoinConf@SECGov Institutions spent years saying Bitcoin was a scam. Now they're quietly positioning in ETFs. The plan didn't change Bitcoin. It changed who has to get on board.
@PeterSchiff The Bitcoin express doesn't care which party claims credit. Treasury just confirmed the strategic reserve is advancing with speed. The train left the station.
The CLARITY Act passed the House 294-134. It cleared the Senate Banking Committee 15-9 with Democrats crossing the aisle. Its now queued for a full Senate floor vote.
Bitcoin Twitter is celebrating because the bill defines a Bitcoin as a commodity and ends regulation by enforcement.
A definition is a useful thing.
A definition is also a permission slip. A commodity classified by the United States is still a commodity that the United States can reclassify. The next administration writes the next definition. The next Congress writes the next floor vote.
Bitcoin existed before the CLARITY Act. Bitcoin will exist after it.
A self custodied holder will find it easy to be glad if the bill passes and also unbothered if it doesn't.
Regulatory clarity might be a gift to the price, but self custody is designed so you can ignore the rulings of governments.
Hold your own keys.