Tyler Maltz
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$Bitcoin(BTC.CC$ has become more dominant in the crypto market thanks to impending halving and broader market risk aversion, despite the price correction
The largest cryptocurrency by market value was trading below $61,400 during Asian trading hours on Thursday, according to CoinDesk Indices data, as the sell-off in risk assets, fueled by difficult macroeconomic conditions, rages.
Meanwhile, The level of interest in t...
The largest cryptocurrency by market value was trading below $61,400 during Asian trading hours on Thursday, according to CoinDesk Indices data, as the sell-off in risk assets, fueled by difficult macroeconomic conditions, rages.
Meanwhile, The level of interest in t...
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$Bitcoin(BTC.CC$ I, like many was skeptical of THE ‘bitcoin’ despite all the noise and hype… but the turning point that flipped the switch was the analogy that the world went from cassettes to cds 💿 to digital; from vhs to dvds 📀 to digital; from gold to cash 💵 to… Bitcoin! Boom it made sense and once you see it, HODLing becomes innate
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$MicroStrategy(MSTR.US$
That is, 24 percent of Microstrategy's floating stock is shorted. This sets up well for a squeeze. $Bitcoin(BTC.CC$ is currently surging, mainly due to the news that $Coinbase(COIN.US$ has been absolved of it's SEC lawsuit. Add to that:
- BTC halving will occur sometime in the next two weeks, potentially driving up the price of BTC substantially in the short term. MSTR's book value is inherently tied to the cost of BTC, due to Micheal S...
That is, 24 percent of Microstrategy's floating stock is shorted. This sets up well for a squeeze. $Bitcoin(BTC.CC$ is currently surging, mainly due to the news that $Coinbase(COIN.US$ has been absolved of it's SEC lawsuit. Add to that:
- BTC halving will occur sometime in the next two weeks, potentially driving up the price of BTC substantially in the short term. MSTR's book value is inherently tied to the cost of BTC, due to Micheal S...
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$Bitcoin(BTC.CC$ may be setting up for a massive short squeeze:
Currently, the gap between institutional longs and hedge fund shorts is at a record high.
While hedge funds hold nearly 15,000 in net short contracts, institutions hold nearly 20,000 in net longs.
This is likely why price action has been so sporadic over the last few days.
Longs are not giving up and each new record high in Bitcoin is being fueled by widespread short covering.
How long can the shorts hold on?
Currently, the gap between institutional longs and hedge fund shorts is at a record high.
While hedge funds hold nearly 15,000 in net short contracts, institutions hold nearly 20,000 in net longs.
This is likely why price action has been so sporadic over the last few days.
Longs are not giving up and each new record high in Bitcoin is being fueled by widespread short covering.
How long can the shorts hold on?
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Tyler Maltz
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Fun Fact: 24% of your wealth has been diluted since 2020
Another interesting point to note:
The purchasing power of $Bitcoin(BTC.CC$ vs. USD has eroded with time as well as inflation has taken effect
As you can see below currently the purchasing power for BTC at the current price of $66,814 is actually $47,247. This means the yellow line reflects how many goods or services Bitcoin could buy at that point in time compared to 2009
$BTC/USD(BTCUSD.CC$ $Nasdaq Composite Index(.IXIC.US$ $S&P 500 Index(.SPX.US$
Another interesting point to note:
The purchasing power of $Bitcoin(BTC.CC$ vs. USD has eroded with time as well as inflation has taken effect
As you can see below currently the purchasing power for BTC at the current price of $66,814 is actually $47,247. This means the yellow line reflects how many goods or services Bitcoin could buy at that point in time compared to 2009
$BTC/USD(BTCUSD.CC$ $Nasdaq Composite Index(.IXIC.US$ $S&P 500 Index(.SPX.US$
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$MicroStrategy(MSTR.US$ holds 205k $Bitcoin(BTC.CC$ worth $15.2 bn at $74k/coin. Let's be charitable and say the software business is worth 5x revenue, or $2.5 bn, even though it is a loss making business. The stock trades at a 71% premium.
Why does this premium exist? Because arb traders are too scared of a short squeeze.
David Einhorn says markets are broken. And he is absolutely right. MSTR/IBIT is the new Palm/3Com.
Why does this premium exist? Because arb traders are too scared of a short squeeze.
David Einhorn says markets are broken. And he is absolutely right. MSTR/IBIT is the new Palm/3Com.
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$MicroStrategy(MSTR.US$acquires 12,000 more $Bitcoin(BTC.CC$ , bringing total holdings to 205,000 BTC.
Purchase mostly funded by $782 million from convertible debt offering.
Michael Saylor announces acquisition at an average price of ~$68,477 per coin.
Total investment for the new batch stands at $821.7 million.
Firm initially aimed to raise $600 million, later increased to $700 million for Bitcoin purchas...
Purchase mostly funded by $782 million from convertible debt offering.
Michael Saylor announces acquisition at an average price of ~$68,477 per coin.
Total investment for the new batch stands at $821.7 million.
Firm initially aimed to raise $600 million, later increased to $700 million for Bitcoin purchas...
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$MicroStrategy(MSTR.US$ announces a $600 million offering of convertible senior notes due in 2030, targeting qualified institutional buyers.
An additional $90 million may be offered to initial purchasers as an option.
Notes to be unsecured, senior obligations, with semi-annual interest payments starting September 15, 2024.
Proceeds intended for acquiring more $Bitcoin(BTC.CC$ and general corporate pu...
An additional $90 million may be offered to initial purchasers as an option.
Notes to be unsecured, senior obligations, with semi-annual interest payments starting September 15, 2024.
Proceeds intended for acquiring more $Bitcoin(BTC.CC$ and general corporate pu...
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Tyler Maltz
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1. The $Bitcoin(BTC.CC$ halving event, set for the end of April, will cut miner rewards from 6.25 to 3.125 BTC per block, negatively affecting miner profitability due to lower rewards and increased production costs.
2. The current estimated central production cost of Bitcoin is $26.5k, expected to double to $53k post-halving due to reduced rewards.
3. A projected 20% drop in the Bitcoin network's hashrate post-halving, primarily from less efficient min...
2. The current estimated central production cost of Bitcoin is $26.5k, expected to double to $53k post-halving due to reduced rewards.
3. A projected 20% drop in the Bitcoin network's hashrate post-halving, primarily from less efficient min...
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Tyler Maltz
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$Bitcoin(BTC.CC$
Last month, as bitcoin approached $45,000, JPMorgan Chase CEO Jamie Dimon compared the cryptocurrency to a Pet Rock and said people need to “stop talking about this s—.”
Now, bitcoin investors are laughing all the way to the bank.
The cryptocurrency is up a whopping 20% in just five days. And with Wednesday’s gains, it’s nearing its all-time high of around $69,000 set in November 2021, the last time bitcoin traded ab...
Last month, as bitcoin approached $45,000, JPMorgan Chase CEO Jamie Dimon compared the cryptocurrency to a Pet Rock and said people need to “stop talking about this s—.”
Now, bitcoin investors are laughing all the way to the bank.
The cryptocurrency is up a whopping 20% in just five days. And with Wednesday’s gains, it’s nearing its all-time high of around $69,000 set in November 2021, the last time bitcoin traded ab...
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