BREAKING: Bitcoin’s selloff accelerates, dropping below $63,000 for the first time since February 24th.
Over $1.1 billion worth of levered crypto positions have been liquidated over the past 24 hours.
NEW: Blockstream CEO Adam Back told Bloomberg that Strategy's BTC sell proved that Bitcoin is liquid and there is no need to keep large cash reserves anymore 🤯
"It shows the market how to value Bitcoin" 🚀
Great write up @scottmelker I think time will grind people down all summer long, while other mkts rip….. there will be blood and angst during the great reset.
This was never going to be easy!
JUST IN: Bitmine $BMNR files for a preferred equity offering paying weekly dividends at 9.5% annualized interest rate with a $300M IPO.
That's 200 basis points less yield than Strategy's #Bitcoin-backed $STRC.
$ETH treasuries are borrowing the Saylor playbook. 👀🔥