Just finished
@theempirepod’s latest (
youtu.be/s6ItpBRMQMo): “SpaceX’s $1.75T IPO, Strategy Sells Bitcoin & Crypto’s Hard Reset” (5 Jun 2026).
@kukulabanze @JasonYanowitz @santiagoroel @HadickM
At 48:50 they go hard on DATs:
“the DATs, which I think has also been super value destructive. … it’s SPACs all over again … You can’t put a token on a corporate rapper and expect to perform well … it’s just incredibly value-destructive…”
Then they hit Strategy: Saylor’s preferred notes trading under par, selling BTC to cover dividends, “it looks like a ponzi all of a sudden…”
“There is a number it’s probably somewhere south of 30… higher than teens where his creditors do liquidate it… that would be the ultimate sort of liquidation cascade for the space…”
And the bear case price target: “this could be going down to 10K… 10k could be high…”
As a believer in
@smarterwebuk and the ecosystem, this take is exactly why the armchair skeptics keep getting it wrong. DATs aren’t value-destructive SPAC 2.0 — they’re building real utility while the bears recycle 2021 FUD and pray for a 10k BTC spiral Saylor liquidation. History shows who ends up right. Recovery isn’t “TBD”… it’s coming.
What’s your take — DATs destroying Bitcoin or the smartest infrastructure play heading into the next cycle?
#SWC #BTC #Bitcoin