Mike Seldon

[Elon Musk @elonmusk]

@visegrad24 Why is the British government failing to take action?

[Starlink @Starlink]

The Starlink team is exploring ways to extend connectivity beyond our planet

[Elon Musk @elonmusk]

Engineering is real magic

[Joe Consorti @JoeConsorti]

One more week until the 20,000,000th bitcoin is mined.

The remaining 1,000,000 will take 114 years.

[Michael Saylor @saylor]

“I’m a huge proponent of Bitcoin. I think it hits $1 million. I’ve never been more bullish.” — @EricTrump

[Discover Crypto | AI Investing @DiscoverCrypto]

CZ Drops the hammer on banks at Davos:

‘Binance handled $7B in withdrawals in one day & $14b that week with no issues”

“I DONT KNOW OF ANY BANK THAT CAN HANDLE THAT"
@cz_binance

[Peter Girnus 🦅 @gothburz]

I'm a Reserve Manager at a central bank.

My job is buying gold.

297 tons this year.

Quietly.

While we print money.

Loudly.

Gold hit $5,000 an ounce yesterday.

We've been buying since it was $1,800.

That's called "reserve diversification."

Diversification means we don't trust our own currency.

But we can't say that.

So we say "diversification."

The Governor went on television last month.

He said inflation is "anchored."

Anchored means 6%.

Used to mean 2%.

We moved the anchor.

That's monetary policy.

He said the currency is "sound."

Sound means losing 20% of its value.

Per year.

But it sounds sound.

That's what matters.

We bought 45 tons in November.

Poland bought 95 tons.

Brazil bought 43.

China reports 1 ton.

China is lying.

We all know.

Nobody says it.

95% of central banks plan to buy more gold next year.

That's a survey.

We surveyed ourselves.

On whether we trust ourselves.

We don't.

We trust gold.

Citizens ask why prices keep rising.

We say "supply chains."

We say "external factors."

We don't say "we printed 40% of all money in existence since 2020."

That's not external.

That's us.

The Finance Minister asked if gold is a hedge against our own policies.

I said "gold is a strategic reserve asset."

Strategic means yes.

I just can't say yes.

Gold is $5,000 now.

Our currency buys less every day.

Our gold buys more.

That's the strategy.

For us.

Not for you.

You get the currency.

We get the gold.

That's central banking.

[Elon Musk @elonmusk]

Room for improvement

[Bitcoin @Bitcoin]

Snatching a head of state and stuffing him in a potato bag is a very clever budget neutral way to increase a strategic #Bitcoin reserve.

[Michael Saylor @saylor]

Strategy has acquired 1,287 BTC to increase its BTC Reserve to ₿673,783 and has increased its USD Reserve by $62 million to $2.25 billion. $MSTR https://t.co/Cv8jD80kQC

[Raoul Pal @RaoulGMI]

Utterly brutal crypto markets with relentless, rapid positions unwinding and rumours swirling after 10/10 of impaired market maker balance sheets leading to less liquidity and someone blowing up.

It reminds me a lot of 2021 when in a 4 week period Bitcoin fell 56%, ETH -62% and SOL fell -68%. It then sharply reversed and exploded to new highs. That sell off was as baffling as this one.

With the macro backdrop still so positive it is hard to think that we won't see something similar here (a sharp recovery) but massive downside volatility like this is not easy for anyone and not certainly something I expected to see at this stage, but it is also not out of the normal.

Back in 2019 to 2020 we had a -72% sell off (in a bull market but the sell off was exacerbated by Covid). Back in 2016 to 2017 we had 7 sell offs of over 30% in BTC. Alts always do worse of those periods too (see chart)

The current price action is showing no signs of letting up yet even though we are massively oversold, but having lived through huge rapid de-rsking events before in many markets, this too shall pass.

My strategy is to add into these sell offs but Im ok with large swings in P&L in a long-term multi-year trend as I've explained many times, but everyone circumstances and time horizons are different.

Good luck out there, its ugly and made harder by the lack of actual negative news outside of price. Try to get away from your screens if you can and get into nature to destress.

[Not Jerome Powell @alifarhat79]

@elonmusk 🤣

[jim iuorio @jimiuorio]

Here’s my response to Scott Bessents comment that you will always get paid what you’re owed owning u.s. treasuries…

[Michael Saylor @saylor]

Congratulations @Brian_Armstrong on $COIN being added to the S&P 500 Index. A major milestone for Coinbase and for Bitcoin.

[Arthur Hayes @CryptoHayes]

$BTC hodlers need to learn to love tariffs, maybe we finally broke the correlation with Nasdaq, and can move onto the purest form of a fiat liquidity smoke alarm.

[Watcher.Guru @WatcherGuru]

JUST IN: Anti-Bitcoin Peter Schiff admits "Bitcoin is digital gold."

[Mike Seldon @SeldonMike]

Boom, another win for crypto. They all said it was a scam years ago and now they are all racing to get their stake in the future. Going to be crazy how many countries start buying Bitcoin (maybe the others too but most will buy BTC first as it's the original and digital gold)

[PlanB @100trillionUSD]

Periodic reminder. 2016-2017 bull market (which current bull market mimics) had multiple -30% dips on the way up. Have to get rid of the tourists.

[CZ 🔶 BNB @cz_binance]

No need to panic, bitcoin won't die. 🤷‍♂️

[CZ 🔶 BNB @cz_binance]

Waiting for the new headline: #Bitcoin "CRASHES" from $1,001,000 to $985,000.

Save the tweet.