So let me get this right. 1. Trump places tariffs on China 2. China raises tariffs on US 3. US pulls back on its tariffs on China

Not his first rodeo

"Fool me once, shame on, shame on you. Fool me ... you can't get fooled again!" - George W. Bush

Sypher Capital recently posted its latest newsletter. 🪙 AZ and NH first states to launch a Bitcoin reserve! 🟠 Stacks Integrates with SUI 🏦 OCC Provides Clarity on Banks Holding Crypto 2️⃣1️⃣ A New and Improved MicroStrategy Launching? ⭕ Circle Gets Buyout Offer(s) from Ripple

Bitcoin treasury companies are viable if you believe in $BTC. You are essentially betting that the company’s cost of capital is < BTC’s future returns. That said, in exchange for the premium valuation you now must weigh in company specific risks to your BTC investment.

Time to repost the Sypher bitcoin bull case deck.

The belle of the cannabis ball….

Muneeb shot the bazooka for Stacks today. 1. Self-custody and unilateral withdrawals of sBTC 2. Sustainable underlying yields for sBTC via dual-staking 3. Potential to secure other protocols w/ dual staking and earning yield in BTC 4. Tier 1 stablecoins should be coming soon

We’ve gotten several inbounds from investors totally new to Bitcoin, who are looking to diversify their gold ownership. 🧐

$MSTR is an interesting play, but the value creation is driven by the arbitrage between the company’s cost of capital and the expected returns on Bitcoin. Based on our calculations, the cost of equity for $MSTR has now reached 20%+. 🤷‍♂️

IF you believe that stablecoins will represent a large share of US treasuries ($29T mkt) and $CRCL will share an oligopoly in that… …is a $20B valuation too big or too small?

Based on our analysis, we believe Bitcoin’s medium-long term value range is $1.2M–$1.9M. Our bull case presentation—shared with hundreds of institutions—has received strong feedback and has just been updated! 🔗 docsend.com/v/xnf3k/bitcoi… #Bitcoin #BTC

We watched muneeb.btc orange-pill a group of traditional finance investors last night—and it was masterful. Haven’t seen anyone make the case for Bitcoin that well in person. A sight to see. Minds were blown. 🤯 $STX stacks.btc #Bitcoin

In the middle of Kevin Durant’s panel at Fanatics Fest, news breaks he is being traded to the Houston Rockets. Kevin Durant #FanaticsFest #fanaticsfest2025 #KevinDurant

In moments of geopolitical instability, governments respond with spending—defense, security, aid. Historically, that spending has preceded monetary expansion. Bitcoin has quietly tracked that pattern for years.

Reading the Sypher Capital newsletter and saw a SIP 031 mention for stacks.btc 🚀

I’ll never understand cannatwit. Investors and mgmt will focus way too much energy trashing another company, forgetting that when something bad happens to one co it gets attributed to all the others in eye of the public markets. Fairly or unfairly.

Tom Angell 🌳📰ⓥ Prob excited abt him saying he’d prioritize pushing the resched process forward. I assume everyone understands by now that dea is entrenched against mj. Perhaps it’s not crazy to presume that will remain the case until proven otherwise. Like how I assume the sun will rise tmr.

Since this post.... Bitcoin +45% S&P 500 +18% NASDAQ +27% GLD +9%

There is $9T in 401(k) plans and $43T in US retirement accounts. Our analysis shows, Institutional adoption will be the biggest driver of Bitcoin hitting our $1.2-$1.9M price target.