Strategy sold 32 BTC the week before this.
With a 1550 BTC buy today, they bought 48x as much BTC as they sold. Average price of ~$65k / BTC.
If they had deployed the same $101m into BTC a week earlier (~$75k / BTC), they would have bought ~1347 BTC.
In other words, selling 32 BTC and the market irrationally panicking about it... allowed Strategy to buy 203 BTC more this week for the same dollars.
@GamalLiranzo Why would you expect that there are public records for complaints about the brakes (or any other issue)? Teams will always endeavour to keep engineering (or staff) issues within the team. Just because people haven't heard about a problem before doesn't mean it isn't a known issue
“A fire-breathing dragon lives in my garage.” Suppose I seriously make such an assertion to you. Surely you’d want to check it out, see for yourself. . . I lead you to my garage. You look inside and see a ladder, empty paint cans, an old tricycle—but no dragon.
“Where’s the dragon?” you ask. “Oh, she’s right here,” I reply, waving vaguely.
“I neglected to mention that she’s an invisible dragon.” You propose spreading flour on the floor of the garage to capture the dragon’s footprints. “Good idea,” I say, “but this dragon floats in the air.”
Then you’ll use an infrared sensor to detect the invisible fire. “Good idea, but the invisible fire is also heatless.”
You’ll spray-paint the dragon and make her visible. “Good idea, but she’s an incorporeal dragon and the paint won’t stick.” . . . Now, what is the difference between an invisible, incorporeal, floating dragon who spits heatless fire and no dragon at all?
If there’s no way to disprove my contention, no conceivable experiment that would count against it, what does it mean to say that my dragon exists? Your inability to invalidate my hypothesis is not at all the same thing as proving it true.”
— Carl Sagan
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I organized an intervention to stop Elon from starting SpaceX. Here is the story...
Twenty five years ago, Elon and I sat in a car on a dark stretch of Long Island highway, two neurodiverse geeks staring at the night sky and wondering what came next. We had both experienced substantial exits and felt the weight of possibility ahead of us.
When I joked about 'space' while gazing upward, neither of us imagined we were planting the seed for what would become the largest IPO in history. We spent the next two hours debating why space was so hard. In the end, rockets are fuel and metal. We also debated where to go, and it was crystal clear that Mars was the only real destination.
Upon returning to NYC, we embarked on a global tour of space, meeting space agencies and luminaries worldwide. This opened our eyes to an industry stuck in bureaucratic thinking. If things continued at that pace, it was clear that we would never explore space in our lifetime.
So, we launched Life to Mars to show the world that two ambitious young men (29 and 30 years old), could send life to Mars without any government backing or support. We planned to send and grow plants on Mars, though some were pushing us to send mice.
We had a $50 MM budget that rested on our purchase of two Russian ICBMs for $7 MM each. We assumed one ICBM would fail, and we would learn and fix everything before launching again. When Elon went back to actually buy the ICBMs, the Russians tripled the price, bringing out launch costs from a total of $14 MM to $42 MM.
Our ambitious Life to Mars plan was no longer viable.
As you might imagine, Elon was not pleased. So, he decided to start SpaceX and create his own Mars rockets. Now, this is a crazy idea, both now and at the time, so I organized a large panel of top space experts, and we ambushed him at the Georgian Hotel one morning. It was set up like an intervention for an alcoholic, but for space.
Elon looked me in the eye when leaving the room and said, "I am going to do this." The intervention failed. Elon was committed. The rest is history.
I am excited to see this IPO after 25 years of hard work. What SpaceX has done is a testament to human will and overcoming insurmountable obstacles. It's nothing short of amazing.
Congratulations, E. Amazing.
Bitcoin has pierced the 200 Week Moving Average 6 times since 2016.
1 of those was in 2018.
1 of those was in 2020.
3 of those were in 2022-2023.
1 of those times is today.
You said you'd buy the dip.
The world is giving it to you on a silver platter:
@derekquick1 Smashed again this past week and several months worth of gains off the 200 SMA (in many cases) evaporated, but perhaps worth buying the sector again off the lows. Maybe.
This price drop surely caused frustration, after the realization that the 4-year cycle and bear market remain intact. It’s ironic to see this frustration directed at @saylor and Digital Credit, which has been the main source of demand in this bear market.
@David_McMahon75 Always found it interesting that advocates for higher taxes to reduce consumption e.g. cigarettes, deny that it could have the same effect as high income taxes on a person's desire to work
The responses to this have confirmed my point: a lot of people are treating these CGT changes as a moral issue instead of an economic one.
I get it. It sounds fair and common sense to say that all kinds of economic activity should be taxed the same. But that’s not how any tax system in the world works.
Why? We tax some activities more heavily and others more lightly because we care about incentives. We tax tobacco heavily to discourage smoking, for example. Super concessions are there to encourage saving. CGT concessions encourage people to invest their savings in businesses that create jobs. Everybody benefits from this.
I agree there is too much leveraged speculation in the housing market. The default path to getting wealthy in Australia shouldn’t be leveraging up on as many investment properties as possible. But there are targeted ways to address that without hitting all forms of productive investment.
#BTC
In the previous 2022 Bear Market, Bitcoin deviated -22% below its 2017 old All Time Highs to mark a Bear Market bottom
In this current 2026 Bear Market, Bitcoin has deviated only -10.5% below its 2021 old All Time Highs
Bitcoin is getting close to a bottom but it's not there quite yet and there's still time left
$BTC #Crypto #Bitcoin