Is it too soon to talk about Crypto yet?

[MinnesotaEric]

Saylor is the worst thing for Bitcoin.

He's running a ponzi backed by leveraged Bitcoin.

I don't how else to say this, but just like SBF or the many others...things can't progress until he's gone.

If BTC went to a dollar it wouldn't force any liquidations. MSTR isn't Three Arrows. MicroStrategy's earnings are also tomorrow.

 

[rumwrks]

"It's complicated.."

El Salvador walks back its bitcoin law

But it's also investing more in the cryptocurrency.

reason.com

Just waiting for all of the "no true scottsman" arguments around this one.

 

[MinnesotaEric]

"It's complicated.."

El Salvador walks back its bitcoin law

But it's also investing more in the cryptocurrency.

reason.com

Just waiting for all of the "no true scottsman" arguments around this one.

"The first nation to print their own currency to buy Bitcoin wins," goes the saying.

From the article you linked to: "The reforms come as part of a broader financial agreement between Bukele and the International Monetary Fund (IMF). One of the conditions for a proposed $1.4 billion Extended Fund Facility loan was that El Salvador mitigate 'potential risks of the Bitcoin project.'"

So they're buying Bitcoin and educating their youth about the Bitcoin economy.

And of course, El Salvador is still going forward with the Bitcoin City and they are attracting Bitcoin holders to their nation.

The neat thing about Bitcoin is the fear, uncertainty, and doubt thrown at it that can fuel sell-offs that scare "normies" becomes a feature for those who want to increase their Bitcoin holdings.

 

[quicksandfarmer]

"The first nation to print their own currency to buy Bitcoin wins," goes the saying.

If you click through the link you see that the "saying" is a quote from Michael Saylor. Hardly a disinterested observer.

 

[Snobdds]

I've been asked to be an investor in a crypto bank ran by a very smart lady named Caitlin Long, called custodia bank. It has 1:1 deposits to loans, but it ran into the buzz saw the SEC under the old administration. It can't get fed accces like all banks need.

I told her, that if there is any exposure to Michael Saylor and MicoStrategies...I'm calling my money back. I want nothing to due with his leveraged Bitcoin ponzi.

 

[rumwrks]

called custodia bank. It has 1:1 deposits to loans,

I'd want to see some reeeeeaaally thorough auditing of that from a very well accredited third party before I touched it given how shady most of the crypto enterprises are.

 

[MinnesotaEric]

If you click through the link you see that the "saying" is a quote from Michael Saylor. Hardly a disinterested observer.

I was the one who linked to Saylor. What you don't know is right after that Saylor interview, sovereign wealth fund and nation-state Bitcoin activity ratcheted up. Since I made my post we've not got 22 states with some type of Bitcoin activity going on, up one more from Monday's post. Hyperbitcoinization is coming where everybody is using, owning, or talking about Bitcoin but right now, we're still early.

That said, here is a different interview with Samson Mow over on X who talks about the increase of nation-states with excess energy currently mining Bitcoin and the inevitably of nation-states issuing sovereign debt to buy Bitcoin. That said, with the change in accounting rules from the SEC two weeks ago, Bernstein says Strategy's balance sheet will be boosted by $12.75 billion after adopting new accounting rules.

 

[MinnesotaEric]

I've been asked to be an investor in a crypto bank ran by a very smart lady named Caitlin Long, called custodia bank. It has 1:1 deposits to loans, but it ran into the buzz saw the SEC under the old administration. It can't get fed accces like all banks need.

I told her, that if there is any exposure to Michael Saylor and MicoStrategies...I'm calling my money back. I want nothing to due with his leveraged Bitcoin ponzi.

I've interacted from time to time on X with Caitlyn over the last three years. She has been on the button about Operation Chokepoint 2.0 and now with the new administration, we're starting to find out how GovCo agencies systematically debanked individuals and companies involved in blockchain here in the USA while also closing the two largest banks involved in blockchain-based companies. Here is a link on X with "Operation Chokepoint 2.0" as the search phrase. The search defaults to the top links, but if you want to read the latest, click "Latest" near the top.

x.com

x.com

 

[MinnesotaEric]

As of today, Iowa has become the 23rd State in our Union to introduce some type of Bitcoin legislation.

Source: Iowa Legislature - BillBook

 

[MinnesotaEric]

In just three days, four more states have introduced some type of Bitcoin legislation bringing the total to 27 states with 20 of those states having introduced legislation for Stategic Bitcoin Reserves (SBR). Why? Because if you save in dollars things get more expensive, but if you save in Bitcoin things become less expensive.

And we're still early even though Bitcoin adoption continues to be faster than internet adoption and Bitcoin is currently a $2T industry that is expected to go on and eclipse the $18T gold industry as more nation-states, companies, and funds increasingly adopt Bitcoin Reserves.

Source of data maps that links to local state legislation pages: Bitcoin Laws - Tracking Bitcoin and Digital Asset legislation

Meanwhile, what endowments are also ramping up their Bitcoin exposure. Typical:

The University of Austin is launching a first-of-its-kind Bitcoin investment fund, showcasing the growing Bitcoin adoption among United States institutions.

The University of Austin will raise a Bitcoin fund worth over $5 million, as part of the institution’s $200 million endowment fund.


“We don’t want to be left behind when their [cryptocurrency’s] potential materializes dramatically,” Chun Lai, the foundation’s chief investment officer, told FT, according to a Feb. 9 report.

The news of the fund comes over three months after a regulatory filing revealed that Emory University accumulated over $15 million worth of Bitcoin through Grayscale’s spot Bitcoin exchange-traded fund (ETF), Cointelegraph reported on Oct. 28.

Source: https://cointelegraph.com/news/austin-university-launch-5-m-bitcoin-fund-5-year-hodl-strategy-report