California Bitcoin

Bitcoin-only. Structured learning.

Helping people understand Bitcoin through clear, curated education.

Library (free) + Dashboard (guided)

[California Bitcoin @CABitcoinLab]

Appreciate this, Jesse.

Built to create a clearer path through Bitcoin learning.

[Jesse Myers @Croesus_BTC]

The latest in cool #Bitcoin education resources...

Worth checking out: @CABitcoinLab is building a guided approach to Bitcoin education, with a curated library and a lesson-by-lesson dashboard.

Link: https://t.co/JGJEadeHJM

[California Bitcoin @CABitcoinLab]

@BTCedu I actually built a library dedicated to all the teachers, mentors and contributors—in hopes that others will find it useful! https://t.co/uW5VwcOJco

[California Bitcoin @CABitcoinLab]

Bitcoin-only. Structured learning.

Library
Free �� Self-guided

Dashboard
Premium · Guided

https://t.co/6ncnndCxpH

[California Bitcoin @CABitcoinLab]

From the Bitcoin Learning Library:

What if money is really a tool for storing and transferring human energy?

This conversation builds a completely different framework for thinking about money, value, and Bitcoin.

https://t.co/uLUBnFFr10

Channeling Monetary Energy Across Time and Space — @Breedlove22 and @saylor

[California Bitcoin @CABitcoinLab]

Bitcoin-only. Structured learning.

Library
Free · Self-guided

Dashboard
Premium · Guided

https://t.co/6ncnndCxpH

[California Bitcoin @CABitcoinLab]

From the Bitcoin Learning Library:

Before Bitcoin, there were decades of attempts to create digital money.

Most failed.

This talk explains the ideas, experiments, and people that ultimately made Bitcoin possible.

https://t.co/avSMoUU9Aw

Beginner’s Guide: What Is Bitcoin — @PeterMcCormack and @stephanlivera

[California Bitcoin @CABitcoinLab]

Today’s a good day to study Bitcoin.

https://t.co/47vyMN7903

[California Bitcoin @CABitcoinLab]

Bitcoin-only. Structured learning.

Library
Free · Self-guided

Dashboard
Premium · Guided

https://t.co/6ncnndCxpH

[California Bitcoin @CABitcoinLab]

Just rebuilt the Bitcoin Learning Library.

Cleaner structure.
Better filtering.
Embedded content.
Improved discovery.
Faster navigation.
A more guided experience overall.

Now up to 84 entries across podcasts, books, videos, and articles.

The goal is simple:
help people study Bitcoin in a calmer, more structured way.

More updates coming soon.

In screenshots: @AcquiredFM @OneChairPod @JasonPLowery @Dennis_Porter_ @saylor @Breedlove22

[California Bitcoin @CABitcoinLab]

Huge congratulations to @smarterwebuk @asjwebley and @TimKotzman on an incredible conference today.

One of the strongest examples of thoughtful Bitcoin leadership, vision and long-term thinking.

And a special thank you to @satmojoe for an outstanding presentation. Clear, grounded, and genuinely inspiring.

For anyone who missed it, the replay is worth your time.

[The Smarter Web Company @smarterwebuk]

Live May 29 https://t.co/NQ9xIhXRN0

[California Bitcoin @CABitcoinLab]

@River The next generation of educators working behind the scenes!

[California Bitcoin @CABitcoinLab]

Bitcoin-only. Structured learning.

Library
Free · Self-guided

Dashboard
Premium · Guided

https://t.co/6ncnndCxpH

[California Bitcoin @CABitcoinLab]

From the Bitcoin Learning Library:

Why do intelligent and successful people often dismiss Bitcoin?

This essay explores incentives, status, and the mental models that shape perception.

https://t.co/kXb8lVkqGH

Why The Yuppie Elite Dismiss Bitcoin — @Croesus_BTC

[California Bitcoin @CABitcoinLab]

@thekylehuber 👊

[Jesse Myers @Croesus_BTC]

I’m sick of it. The Bitcoin gloom and disappointment. Don’t you see what is underway?

When you close your eyes, there’s one number you should see in your mind: $500T of fiat assets.

That’s how much global asset value is sitting in Bonds (fixed income) & Money (M2 fiat currency). Why does that matter?

Because that giant reservoir of ~½ the world’s asset value contains the potential energy necessary to power hyperbitcoinization.

This is what Saylor sees.

But do you see it yet?

Consider Hoover Dam. The reservoir behind it contains 12 TWh of usable hydroelectric energy – it just looks like one big lake, calm and placid. But if you stick a pipe through that damn and put a turbine generator in the middle of it and let the water run through it… you can generate enough energy to power the city of Las Vegas for 5 years.

That’s potential energy. Stored, untapped power. And by removing the barrier for the water to flow towards a lower energy state, you can harness the pent up power of the reservoir.

This same mental model works for capital.

A high Sharpe ratio is the financial analogue of a low-energy equilibrium state. Capital flows downhill, always seeking lower risk per unit of return.

(Yes, I know everyone thinks about it as “highest return per unit of risk”, but this is the equivalent and helps understand the physical metaphor)

Do you see it yet?

Think about all the capital parked in fixed income instruments or money market funds. All of this capital is parked there because it has historically provided an acceptable trade-off of modest nominal returns for minimal risk.

The entire premise of fixed income is “here’s a way to park cash in low-risk instruments that will generate a positive return slightly greater than inflation.” Adjacent to this asset category is “cash and cash equivalents” where the value proposition is somewhat smaller returns in exchange for even less risk.

And over the decades, a steady stream of capital has found its way into these asset buckets that promise low risk and modest nominal returns via future fiat cashflows.

These buckets have become a giant fiat reservoir, brimming with nearly $500T of capital.

Do you see it yet?

Along comes Strategy. @saylor realizes that much of this $500T of capital would be better off if it flowed into Bitcoin. But Saylor also recognizes that this reservoir of capital is inherently constrained. Boxed in by convention, investment mandates, risk management, volatility aversion, etc.

It won’t flow to Bitcoin on its own. It can’t – it’s walled off, dammed up.

Strategy engineers a solution. Creates a product to meet that capital where it’s at. The $500T fiat asset reservoir wants low risk, low volatility, fiat cash flows. Strategy designs preferred equity instruments that solve for these constraints, while Strategy uses the fiat capital proceeds to buy Bitcoin (which it believes will appreciate at 29% CAGR for the next 20 years).

In exchange for capital today, STRC offers 11.5% annual returns with volatility asymptotically approaching 0. The Sharpe ratio is off the charts. It breaks everything in tradfi portfolio allocation. At first glance, it seems impossible. But it works because it’s not powered by risk-taking layered on top of fiat inflation; it’s powered by the ongoing monetization of a superior monetary asset whose endogenous properties ensure its appreciation when valued in fiat currency units over time.

Saylor terms this kind of Bitcoin-powered fixed income offering “Digital Credit.”

When a commodity flows from a high-energy state to a low-energy state, it releases energy. In the case of Hoover Dam, that energy can be used to power a hydroelectric turbine. In the case of Bitcoin treasury companies with Digital Credit offerings, that energy can be used to power shareholder returns for common equity holders. This can happen in every major capital market in the world.

Do you see it yet?

Strategy has stuck a pipe through the dam. A conduit through which capital can flow out of the Fiat Asset Reservoir and towards a low-energy equilibrium state. Digital Credit offerings (e.g., STRC, SATA, and others) create that value proposition.

And what’s the Total Addressable Market (TAM)? All $500T of fiat assets in the reservoir.

The recent SpaceX IPO Prospectus recently made a splash by claiming the company had a combined $28.5T TAM, proclaiming that this was the “largest TAM in human history.”

But my essay from 2023 titled “Bitcoin’s Full Potential Valuation” already articulated how Bitcoin’s TAM is all value itself, above and beyond the usual lens of annual economic activity across industries. Saylor read it, adopted it for his presentations, and built on it with the Bitcoin24 valuation model.

The SpaceX Prospectus is wrong. Bitcoin has the largest TAM in human history.

And Digital Credit has the second largest TAM in human history – the $500T Fiat Asset Reservoir.

Do you see it yet?

Digital Credit offerings will redirect some % of the $500T Fiat Asset Reservoir into Bitcoin. This will happen because the value proposition of Digital Credit offerings is higher Sharpe than anything I am aware of in the entire $500T reservoir, inflation-adjusted.

Think of it as the Second Law of Capital Dynamics: capital flows toward assets offering superior risk-adjusted returns.

If Digital Credit ingests 1% over the coming decades, that’s $5T. It seems unreasonably pessimistic to think that only 1% of the $500T Fiat Asset Reservoir would be interested in vastly better returns with a similar (or better) risk profile.

Let’s say Digital Credit appeals to a (still-conservative) 10% of the $500T fiat asset reservoir, that’s $50T.

Bitcoin is currently a $1.5T asset.

Do you see it yet?

Digital Credit may direct a torrent of $50T of capital into Bitcoin over the coming decades. All of it bidding for a finite supply of Bitcoin.

The scale of that inflow would likely drive Bitcoin’s valuation to $10m/BTC, or ~$200T total.

Digital Credit is the plumbing of hyperbitcoinization.

This is how it happens – you’re watching the early stages of Bitcoin’s monetization megatrend.

The question is: do you see it? Or will it have to play out first?

[California Bitcoin @CABitcoinLab]

@BTCedu @craigwarmke Thank you for sharing this and thank you @craigwarmke for all your work in Bitcoin. 👊

[California Bitcoin @CABitcoinLab]

Bitcoin-only. Structured learning.

Library
Free · Self-guided

Dashboard
Premium · Guided

https://t.co/6ncnndCxpH

[California Bitcoin @CABitcoinLab]

From the Bitcoin Learning Library:

Most people think inflation is normal because they’ve never studied money deeply.

This short documentary connects monetary history, inflation, and Bitcoin in a clear visual way.

https://t.co/2pDmHQCJi8

A Remedy Against Inflation? |
Bitcoin: Digital Gold — Bitcoin: Hard Money

[California Bitcoin @CABitcoinLab]

Bitcoin-only. Structured learning.

Library
Free · Self-guided

Dashboard
Premium · Guided

https://t.co/6ncnndCxpH

[California Bitcoin @CABitcoinLab]

From the Bitcoin Learning Library:

A compelling explanation of why Bitcoin may represent a technological upgrade to money itself rather than simply a hedge or insurance policy.

“Bitcoin as an Upgrade, Not Just Insurance” — @ProofOfMoney

https://t.co/0q30fggcFU

[Terence Michael @ProofOfMoney]

🚨Bitcoin is NOT an insurance policy‼️

Hear me out.

(short 240 second video👇)

[California Bitcoin @CABitcoinLab]

Bitcoin-only. Structured learning.

New: Bitcoin Radio Hour

Bitcoin-inspired music for focus, work, and learning.

https://t.co/Z9DrptYrSd

[California Bitcoin @CABitcoinLab]

From the Bitcoin Learning Library:

An accessible introduction to Bitcoin’s role in the global economy and why open monetary networks matter in the digital age.

“Beginner’s Guide: Why We Need Bitcoin” — @PeterMcCormack and @aantonop

https://t.co/pYzwaj5sm3