Today, the 4th ever #Bitcoin   halving will occur, reducing the supply of new $BTC issued each day from 900 to 450.

After the halving, #Bitcoin   will have an annual supply increase less than that of the reigning king of hard assets, gold.

The stock-to-flow ratio of #Bitcoin …

The price of $MSTR is starting to make sense, relative to its underlying $BTC position.

Still seems kind of high though.

This week in #Bitcoin -related stuff:

CleanSpark $CLSK: +16%
TeraWulf $WULF: +12%
Iris Energy $IREN: +6%
Bitfarms $BITF: +6%
Marathon Digital $MARA: +2%
Bitcoin $BTC: -4%
Block $SQ: -9%
Coinbase $COIN: -14%
MicroStrategy $MSTR: -21%

S&P 500: -3%

Data: Yahoo Finance

Happy halving day. Luckily #Bitcoin has many halvings yet to come. We are still so early.

Currently, 6.25 $BTC are issued every ~10 minutes to the #Bitcoin miners (the block reward), but that is set to drop to 3.125 today after the halving.

You can currently buy an entire…

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We should send rockets not at each other, but rather to the stars

3.125

$TSLA is looking so juicy, I'm hoping it touches the lows of ~$110ish. I definitely think it could, given macro (high inflation, high interest rates).

#Bitcoin miner $MARA stands out compared to other miners in that it has financed much of its 17,381 $BTC position using long-term debt.

$MARA is even more leveraged than $MSTR with respect to its $BTC position.

Other large miners $RIOT and $CLSK have virtually no long-term…

The price of $MSTR is starting to make sense, relative to its underlying $BTC position.

Still seems kind of high though.

The election of Biden over Trump in 2020 was a fair outcome, not rigged.

In the short term, #Bitcoin will always trade in a manner the crowd least expects:

1. The $BTC price had never dipped below the all-time high (ATH) price of the previous cycle, but it did in 2022 when it dropped to ~$15.5K, whereas the ATH of the previous cycle was $20k. ✅

2.

Electric vehicle (EV) makers are in the dog house so far this year.

Year-to-date performance:
$TSLA Tesla: -38%
$LCID Lucid: -43%
$PSNY Polestar: -43%
$XPEV XPeng: -50%
$NIO NIO: -57%
$RIVN Rivian: -62%
$VFS VinFast: -67%

vs S&P 500: +6%

Data: Yahoo Finance

The valuation of the S&P 500 has been trending higher overall and remains well above its historical average; however, it has not yet reached the levels seen during the 1999/2000 dot-com bubble.

$TSLA is trading near its 52-week low.

#Bitcoin separates itself from 'crypto', in that it is the only substantial proof-of-work asset.

As such, the network only becomes more secure over time.

Happy to have my Tweet spark such discussion, and get mentioned in Jack Mallers The Money Matters Podcast podcast.

It’s hard to express nuance in a Tweet, and I’m completely inexperienced as a software developer. I’m pretty much only focused on $BTC price, which is my area of expertise.…