Bitcoin filters for truth

Self recommending.

🦔Community protests have blocked $130 billion in data center projects so far this year. Q1 2026 produced the most blocked and delayed projects on record. Nashville collected 180,000 petition signatures in days. Charlotte voted on a moratorium. My Take These companies committed hundreds of billions in capex and filed IPOs on the assumption the data centers would get built. $130 billion of them didn't. Communities across the country figured out how to organize against these projects before the developers could lock in permits. The industry built its financial models around infrastructure that doesn't have permission to exist yet, at least not on the timeline the IPOs need. Hedgie🤗

🎯🎯🎯

This week the most advanced AI model on the planet got switched off by a foreign government. British researchers were studying it. British companies were testing it. British hospitals were piloting it. Not any more. This isn't an AI story. It's the story of every industry we used to lead. Britain has some of the best AI talent in the world. DeepMind was built here. Our AI Safety Institute writes the rules other countries follow. We have the researchers, the universities, the standards. What we don't have is the power stations to run the data centres, the planning system to build them, or the industrial base to make the chips. So the work happens here and the value lands somewhere else. We invent. Others build. Others decide. Then we read about it on Saturday morning. Same story as the kit our soldiers don't have. Same story as the factories we used to. I spent nine months in government making this argument inside the room. I'll make it louder from outside.

encrypt the money

En Palacio Nacional, recibimos a Ben Horowitz, cofundador y socio general de la firma financiera Andreessen Horowitz. Coincidimos en que México es ejemplo de confianza y certeza económica.

Self recommending.

The largest USDC transfer in history. ~$4.4B sent to the Coinbase Hyperliquid deployer.

USDC, USDe, USDT, DAI

Ok. Finished reading it. The story of Europe's failure in AI is turned into a gripping story (congratulations to the authors on finding this way to write it) and an outstanding SHOUT for action. I disagree with many things in this scenario (e.g. ASML cannot be used for leverage, I am afraid: all the EUV tech is San Diego-based (Cymer), and the chips are Nvidia, AMD, Intel, etc.) But the key insight is correct: (1) AI is THE critical technology of the future, and (2) Europe is falling badly behind on AI and running out of options. Both the economic and strategic consequences are brutal. We will write a reaction in Silicon Continent. In the meantime, please do read it. europe2031.ai/#timeline

One piece of advice we got during YC was to explain our company using verbs instead of nouns. Early on, I walked into a meeting and did the opposite: “We’re building a cloud platform for AI” No one knew that that meant, their eyes glazed over. Then I started saying this instead: “We containerize your code and run it on GPUs in the cloud so you don’t have to manage the infra yourself” That clicked way more. Our brains understand verbs because they’re more concrete. If you describe your company using nouns, you risk people not understanding you. And no one buys or invests in things they don’t understand.

SAYLOR: “I said to you to never sell your Bitcoin. I never said that the company would never sell its Bitcoin.”

$BTC Bear markets This one is not so different from the others, and it may have further still to go.

Big day for @Morpho. Last year, we sat down with @PaulFrambot and had him explain it from scratch: what it is, why institutions suddenly care, and where he thinks finance is headed. Five answers 👇

Same vibes.

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Major support in Silver comes in at $54 Here is how the dynamics of price behavior works: Late comer bulls who bought >$90 missed the top and have sworn to themselves that they will never sell out In fact, they have stated their intent to buy more at $65 and more at $60 They will mark the bottom by puking out their positions below $60 swearing to never trade Silver again This is how bottoms are made every time in every market be it Silver or Bitcoin or Soybeans or Sugar or the S&Ps $SI_F #silver

The Michael Saylor Broken Promise Tracker 🧵 1/ "Never dilute if it decreases Bitcoin per share." Broken: Announced today the issuance of 1.4M new common shares to bolster cash reserves and manage STRC stress, mathematically decreasing BPS for common holders. 2/ "Never dilute below 1.22x EV mNAV." Broken: Floor officially breached today. 1.4M shares were issued at a compressed premium simply to hoard fiat cash rather than accreting Bitcoin. 3/ STRC will act as a stable "money market fund" (3% volatility). Broken: The preferred stock is now trading like a volatile high-beta asset. 30-day historical volatility hit 11% and the principal plunged to $90.40, breaking its $100 par value. 4/ "There is no second best crypto asset." Broken: Now heavily promoting DeFi yield protocols and stablecoins (like Apyx and Saturn), as these alternative assets have quietly become STRC's largest holders to absorb the supply. 5/ "We will never sell." Broken: In May 2026, Strategy Inc. officially sold 32 BTC, permanently shattering the perpetual hold narrative. 6/ The $42B plan will be deployed methodically "over 3 years." Broken: Burned through the vast majority of the allocation in months, eventually halting purchases entirely due to dividend coverage stress. 7/ "Never dilute below 1.0x basic mNAV." Broken: Floor entirely abandoned as market premiums collapsed. 8/ "Never dilute below 2.5x basic mNAV." Broken: This initial floor was quietly abandoned the moment premiums began compressing. 9/ "Zero counterparty risk." Broken: While technically equity, the massive preferred stack introduces severe systemic risk. The 11.5% yield created a massive annual cash obligation, acting as a structural margin call that is forcing the liquidation of treasury BTC. 10/ "Chasing yield is how you lose your Bitcoin." Broken: Created STRC to chase yield and is now seemingly in a position where they will need to start selling (losing) their Bitcoin. 11/ Maintain accurate, lawful corporate accounting. Broken: Caught cooking financial books in 2000, triggering an SEC settlement. The stock wiped out 90% of its value in a single month, ultimately crashing 99.4% from its peak.

Just about any company can raise money at 11.5% if they wanted to... they simply don't, because that's an incredibly high hurdle rate to overcome, no matter what you do with the money. Just because $MSTR calls this innovative doesn't make it smart. Sure, BTC could go up more than 11.5% per year. It also may not. But every company COULD do this. They could buy assets with the proceeds, or they could reinvest in their business, or they could even buy back their own stock. Many of these investments would outperform BTC. But again, no one does this, because 11.5% is a massive hurdle rate.