Johan Bergman

Head of Bitcoin Research @ The Bitcoin Layer | Host @ Digital Credit Frontier

[Johan Bergman @JohanMBergman]

@jaysmontoya @TheBitcoinLayer Very true. In TBL Pulse you can switch between Halving, Cycle Low and Cycle High by the way

But while you right, this fact plays a role in the feeling of underperformance with holders and investors.

[Johan Bergman @JohanMBergman]

We're at index 100.0 since the halving. It's been 775 days and bitcoin:native sits at the same price it was when the most recent halving occurred. Holder patience is being tested big time.

[Johan Bergman @JohanMBergman]

@kanemcgukin Got it, thanks!

[Johan Bergman @JohanMBergman]

Thank you @joakimbook for your questions on the Bitcoin State Grid during the TBL Pulse Webinar!

You've been the inspiration for the Heat and Dwell overlays.

[Johan Bergman @JohanMBergman]

@SullyMichaelvan Hey Michael, I would love to chat with you about bitcoin, your sentiment research, stoicism, leadership and investment decisions. Are you open for it? Your DMs are closed, how can I reach you?

[Johan Bergman @JohanMBergman]

@MattCrosbyPro Legend! Prague next week?

[Johan Bergman @JohanMBergman]

"Why then are we offended? Why do we complain? This is what we're here for."

Seneca on bitcoin:native capitulation sell-offs.

June 4th

[Johan Bergman @JohanMBergman]

@TheBitcoinLayer Join us and become a Pro Member! https://t.co/GCZpbyv6wq

[Johan Bergman @JohanMBergman]

@_Checkmatey_

[Johan Bergman @JohanMBergman]

@timevalueofbtc @AugustineCarrB @demianschatt @TheBitcoinLayer 🤣

[Johan Bergman @JohanMBergman]

@RobbieV1988104 Thanks Robbie, wish you all the best too!

[Johan Bergman @JohanMBergman]

🔴 Red dot confirmed.

But more happened. The BTC sale was purely symbolic. They needed to pay $100.5 million in STRC dividends for May, and here is how they funded it:

- 801,994 MSTR shares issued → $128.3 million raised
- 32 BTC sold → $2.5 million raised
- $130.8 million raised in total
- $100.5 million paid out
- $30 million added to the USD Reserve, now ~$0.9 billion

🟠 BTC Purchases
🟢 USD Reserve add-ons
🔴 BTC Sales

[Johan Bergman @JohanMBergman]

@PunterJeff https://t.co/AyPmm4t9kp indeed, more happened

[Johan Bergman @JohanMBergman]

🔴 Red dot confirmed.

But more happened. The BTC sale was purely symbolic. They needed to pay $100.5 million in STRC dividends for May, and here is how they funded it:

- 801,994 MSTR shares issued → $128.3 million raised
- 32 BTC sold → $2.5 million raised
- $130.8 million raised in total
- $100.5 million paid out
- $30 million added to the USD Reserve, now ~$0.9 billion

🟠 BTC Purchases
🟢 USD Reserve add-ons
🔴 BTC Sales

[Johan Bergman @JohanMBergman]

@_nym21_

[Nik Bhatia @timevalueofbtc]

RIDE THE ROLLER COASTER WITH US

[The Bitcoin Layer @TheBitcoinLayer]

TBL Pulse combines on-chain, technical, derivatives, flows, and risk appetite into one read on exactly where Bitcoin sits in its cycle.

Clarity for our members, not guesswork. Join us.

Video/analysis by: @JohanMBergman

[Johan Bergman @JohanMBergman]

@Andre_Dragosch @BTCPrague Looking forward to it!

[Johan Bergman @JohanMBergman]

Working on this now for tomorrow's letter. Divergence has almost never been this large 😅

Looks like one of the two has to give at some point...

[André Dragosch, PhD⚡ @Andre_Dragosch]

Tell me this is not true.

[Nigel Farage MP @Nigel_Farage]

The fear of being called racist was greater than dealing with Henry Nowak’s murder.

We should respond to this with pure cold rage.

Britain’s historic way of life is being thrown away.