Jake

[Jake @unique__user_]

@Croesus_BTC @WatcherGuru Tom Lee @fundstrat presented data showing the path to possible $13m+ per btc back in 2018. Very great presentation, a must watch. https://t.co/p3V6SQrVdv

[JT Singh @FranchiseMnA]

Had a MUCH smaller but similar story

Rolled my last investment banking bonus as the 10% down payment on a long standing senior care franchise using SBA

Acquired below market multiple bc seller needed out quickly (had a sexual misconduct charge pending)

Grew EBITDA ~50%

Sold for twice the multiple to an existing operator in the space under 2 years

Not generational F U money like this guy but it gave me the confidence and money to do other stuff and paid off my house

Franchise resale opportunities like this exist out there for those looking

[Jake @unique__user_]

@PeterLBrandt I've been reading your posts and reports since 2017. You've been more right than wrong.

[The Factor Report @PeterLBrandt]

Not financial advice
If you are young (under 40 to me is infancy) and have a good paying stable job, do NOT believe the "sky is falling" narrative. Instead, from here down keep buying quality U.S. equities, $SPY and/or $BRK.B

[6529 @punk6529]

1/ On Value in a Post-Scarcity World

Every now and then I like to annoy the feed by tweeting things like "when AGI brings us post scarcity, only important NFTs will hold value" and I get tweets like:

"oh god, I always knew you were an idiot"

[Tom McClellan @McClellanOsc]

For those who want to know the history of this silly definition, it began with Alan Shaw and the TA department at Smith Barney. According to Louise Yamada, when Shaw would comment that he expected just a "correction" and not a "bear market", the brokers there did not know what he meant by those terms.

So he told them to think of a correction as something which takes the market down about 10% or less, and to think of a bear market as something which goes further than that, more like 20%. He was trying to be descriptive of magnitudes, without precisely defining them.

CNBC (and others) mistook this description to be a hard definition, and created the misguided concept of "correction territory". In reality, the first increment of price movement (even a single tick) which is against the dominant trend is a correction.

See https://t.co/zLoCkIK85f for much more useful definitions.

[The White House @WhiteHouse]

America will be the Bitcoin superpower of the world.

The Golden Age of America has BEGUN!

[Jake @unique__user_]

@jimbochewdip @saylor @GalaxyTrading_ They didn't televise the summit. Only the closing remarks.

[Charles Schwertner @DrSchwertner]

It's time for Texas to lead the way in establishing a Strategic Bitcoin Reserve. That’s why I filed SB 778, which, if passed and signed into law, would make Texas the first state in the nation to establish a Strategic Bitcoin Reserve. This would position our state at the forefront of the digital economy, driving growth and securing economic freedom for our great state! #txlege

[Tuur Demeester @TuurDemeester]

*sigh* 🤷‍♂️😁

[Michael Saylor @saylor]

BlackRock explains #Bitcoin

[Michael Saylor @saylor]

MicroStrategy has acquired 15,400 BTC for ~$1.5 billion at ~$95,976 per #bitcoin and has achieved BTC Yield of 38.7% QTD and 63.3% YTD. As of 12/2/2024, we hodl 402,100 $BTC acquired for ~$23.4 billion at ~$58,263 per bitcoin. $MSTR https://t.co/K3TK4msGp0

[Mark Ritchie II @MarkRitchie_II]

Longer post on $BTC/crypto and how I'm thinking/managing it going forward.

For starters I've been talking about this base and posting potential low risk entries all year as I've been a 'responsible bitcoin bull' for years and there are still very few of us as everyone has either hated it or been full HODL/diamond hands promoter nonsense. I've traded it MANY times over the years going back to 2015 when it sets up and meets my criteria.
The current breakout is doing what I thought it would when it made new all time highs...stampede into new high ground. I was looking for a tighter 'right side' and as I said prior didn't think we get it but this was tradable so I added a trading scale and sold some yesterday & today as we're very extended short term.

I think 100K is a likely layup so many are probably asking 'why not hold the whole thing etc?' I'm up literally many multiples on my initial risk on an added scale so I'm lightening up to both smoothen my equity curve and allow me to hold a remainder for a bigger move. This is EXACTLY how you let a winning trade turn into an investment.

Now for those who think this move is overdone or stupid just take a look at this chart of $IBIT

So far this weeks volume is well on pace to be the largest in the ETFs history (200 mil and its Wednesday). As we like to say that 'aint your Uncle Bert or Aunt Betty' buying. Those are major institutions piling in!

For those who don't understand how this works think of it another way. Institutions take time to buy/sell because they have to and a whole due diligence process (This fact is a major advantage to smaller players). For years $BTC was considered uninvestable for a good deal of institutions, the ETF changed that. So if you bought this year or were waiting to either add more or buy many were likely waiting until after the election. Now the short term stampede is on, where it takes us in terms of price is simply a function of how much supply is available to meet the demand.

In regards to institutions for years owning crypto was a liability i.e. a good way to get yourself fired as it was unregulated wild west etc. Now with the ETF and a new crypto friendly admin its going to be the opposite, if you don't own it you will get fired so PMs are going to have to show that they own some and likely by year end if they don't. So again...stampede for exposure.

Lastly for anyone doing math or asking 'how high could this go' the short answer is I have no clue. However, if it truly becomes a reserve asset the only answer is MUCH higher (likely multiples). Take what Saylor & company at @MSTR are planning. They are attempting to raise 20-40billion to basically become a $BTC holding company. If they buy 20 bil worth at current prices based on some rough estimates their buying alone is roughly 2% of current supply. They are one company and roughly going to be buying similar to what the ETF has bought thus far this year. Do the math and come to your own conclusions.

I've already made up my mind to trade the crap out of every base & low risk spot I can find, use short term profits to fund longer term holds. Wash. Rinse. Repeat.

[Tuur Demeester @TuurDemeester]

Historic moment: bitcoin's market cap just exceeded that of all the aboveground silver, the noble metal used as money for over 4,000 years.

[The Factor Report @PeterLBrandt]

Bitcoin? vs. Gold? - the ultimate store of value
My friend @TuurDemeester argues here for $850k Bitcoin based on equal value to CB Gold holdings (https://t.co/XwRgHQzAIE)
BTC/XAU chart suggests target of 130 to 1 ratio
So long horizon projections suggest $6,500 XAU & $850k BTC

[Anthony Pompliano 🌪 @APompliano]

"Unrealized losses at US banks are 7x higher than during the 2008 financial crisis" - @Cointelegraph

Insane.

[Jake @unique__user_]

@NFT_Shooter @PeterLBrandt The US went off the gold standard in 1971. Between 1971 and 1980, the price of gold ran up from $35 to $850 per ounce.

[Voultar @Voultar]

Please share and RT so everyone can learn!

The words "restore" & "refurbish" are thrown around very loosely. Let's show this Sega Saturn controller some love by giving it a new lease on life! I'll show you how to remove 30 year old hardened solder flux, clean and brighten!

[Barchart @Barchart]

BREAKING 🚨: U.S. Banks

Unrealized losses in the U.S. Banking System increased to $517 billion in Q1

[Michael Saylor @saylor]

$BTC was $8,618 on the day of the last #BitcoinHalving.