I said yest in an intv that IMO bitcoin has become too dependent on ETFs/MSTR narrative, esp when it has the "Nothing Stops This Train" narrative, which gets more powerful every year (just look at Knicks Finals tix in '99 vs today). ETFs/MSTR should be seen as icing on cake, not whole cake. A store of value the gov't can't debase or mess with is the cake. Thanks for coming to my TED Talk..
Saylor / Strategy selling a few raspberries isn’t causing bitcoin to crash. The reality is that there is a massive parabolic spike in AI-related equities that is vacuuming up all excess liquidity, multiples of bitcoin’s market cap. On top of that, labor market is healthy and energy prices are up, so sentiment for dovish rate cuts is nowhere to be found. Bitcoin’s fundamentals have never been better even if the macro environment isn’t doing it any favors.