Digital Money should be stable, liquid, digital, and yield-bearing. Bitcoin-backed credit makes that possible. The next wave is not just stablecoins — it is stable-value money with yield, built on Bitcoin. $BTC

Bitcoin Capitalism — my keynote from @BTCPrague 2026. Digital Capital is the foundation for Digital Credit, Digital Money, Digital Yield, Digital Equity, and a universe of Bitcoin-backed products and services. Timestamps: 01:37 - The Four Bitcoin Ideologies and the case for Bitcoin Capitalism 03:29 - Bitcoin as Digital Capital: thousand-year capital with a half-life of infinity 06:12 - Bitcoin network snapshot and ~68% dominance 07:41 - What is money? The Austrian view, the conventional investor view, and “Bitcoin is money, everything else is credit” 09:21 - Digital Money and Digital Credit: bitcoin-backed products for fiat-facing investors 11:28 - Digital Credit: an ~$11–12B asset class that was zero 12 months ago 14:54 - Bitcoin’s opportunity: $1T of bitcoin vs. $1,000T of global capital 15:43 - The 10-dimensional model for reaching stranded capital 16:44 - 1) Asset types: commodities, equities, credit, derivatives, real estate, money, and tokens 18:07 - 2) Capital functions: store of value, appreciation, income, collateral, and payments 19:29 - 3) Custody: self-custody, banks, custodians, broker-dealers, prime brokers, and exchanges 20:34 - 4) Jurisdictions: 664,000 legal and regulatory environments for capital 22:03 - 5) Distribution networks: banks, exchanges, payment networks, and $156T controlled by wealth advisors 23:13 - 6) Account forms: retirement accounts, brokerage accounts, insurance policies, treasuries, and trusts 24:51 - 7) Risk: market, currency, duration, regulatory, credit, technical, security, theft, and counterparty risk 26:03 - 8) Liquidity: transforming $350T of illiquid capital with liquid digital assets 28:02 - 9) Investors: banks control ~$200T and need compliant bitcoin-backed products 30:09 - 10) Product characteristics: fixed rate, floating rate, leverage, callability, fees, and structure 30:45 - The 10x10 matrix for channeling global capital into Bitcoin 31:19 - How $10–20T of capital could expand Bitcoin into a $100T network, moving from $70K to $700K to $7M per bitcoin 32:10 - Bitcoin Capitalism as a Darwinian market: winners, challengers, failures, and 1,400 companies tracked by Strategy 34:53 - Existing bitcoin-backed products: @Trezor, @Unchained, @Fidelity, @Fold_app, @Tando_me, @Relai_app, @CashApp, @HodlHodl, @AnchorWatch, @Meanwhile, $IBIT, $STRC, and $MSTR 40:03 - Digital Capital, Digital Credit, Digital Money, and Digital Yield competing with traditional capital markets 41:03 - Digital Money and Digital Yield: better stablecoins and higher-yield bitcoin-backed products 47:27 - 3 ways to participate: savers, investors, and innovators 49:19 - The aluminum airplane analogy: people buy the product, not the commodity underneath 52:29 - Build a ₿ridge to connect $BTC to the global capital markets 53:42 - 10,000 products, 10,000 needs, and 100,000 corporate efforts to change the world

We’re not traders. We don’t speculate or try to time the market. We don’t do technical analysis or draw lines on charts. $BTC is going up forever. There’s only one @Strategy. Buy and hodl.

My conversation with @scottmelker on @YahooFinance on @Strategy, the largest holder of Bitcoin in the world, why $GOOG and $MSTR use preferred equity, paying $STRC dividends, buying and selling $BTC, and $MSTR performance.

Digital Credit. Digital Money. Digital Equity. Digital Treasury. My conversation with @ColeMacro at @BTCPrague on the future of capital markets, followed by Q&A on the nuances of Bitcoin-backed securities and corporate finance.

I haven’t sold a sat. Strategy is still stacking.

The sun hates to see this guy coming 😅

Bitcoin finds a home where it's treated best. The over-levered, the unprofitable, the indebted are forced sellers. The responsible, the patient, the solvent are dip buyers. Bear markets transfer from the weak to the strong. Earn more than you spend. Stay humble. Stack sats.

"We're the largest holder of Bitcoin in the world. We're the largest purchaser of Bitcoin in the world. And we'll continue to be". Watch my conversation with @CNBC @PowerLunch below. 00:00 — "We're net purchasers of Bitcoin." The 32 BTC sale helped inoculate the market, test our processes, and capture tax losses over time 1:47 — We balance the needs of our constituents: $MSTR and $STRC shareholders, $BTC hodlers, and debt holders 3:07 — Four-year cycles, macro volatility, geopolitical conflict, inflation uncertainty, Fed policy, Clarity 4:15 — Bitcoin is a hedge against inflation and big government 5:32 — Capital that rotates from $BTC to AI will come back to $BTC 6:42 — With clearer rules, every major bank is going to flood into $BTC and crypto 7:27 — Expanding financial-system access is good for Bitcoin

What does Wall Street actually see in Bitcoin? I sat down with someone leading the charge from the inside. Amy Oldenburg runs digital asset strategy at Morgan Stanley. We talk about how much Bitcoin should be in a portfolio, the success of $MSBT, why the price of bitcoin has been stuck and what could finally move it. Full conversation streaming now! TIMESTAMPS: 00:00 Tech Roots: From the 1999 Tech Bubble to Emerging Markets 8:26 Why Bitcoin Made Sense Early On 14:17 Morgan Stanley's Spot Bitcoin ETF 16:43 Why Aren't Institutions All-In On Bitcoin? 19:18 Record Demand for MSBT 21:21 Would Morgan Stanley Ever Issue Digital Credit? 23:42 The Advisor Gap: Why Isn’t Everyone Recommending Bitcoin? 28:37 What's Holding Bitcoin Back? 34:19 Corporate Balance Sheets 36:22 Bitcoin's Future 38:05 What Should More People Understand About Bitcoin? 39:15 Winner-Take-All Tech vs. Redundant Finance: The Industry's Future 45:32 Addressing Big Bank Skepticism

Dear $MSTR Haters, Watch this clip. Best, @AdamBLiv @PunterJeff

The Clarity Act passed committee. The floor is next. We did not come this far to quit at the 5 yard line.

The move from $16,000 to $126,000 to $60,000 was not a full cycle move. It was just a re-basing before the actual bull run. The actual bull run will take us from $60,000 to at least the $315,000 area. It will correspond with an actual economic and business cycle. Newbs will see.

JUST IN: $13 BILLION IREN BOARD MEMBER MIKE ALFRED JUST SAID THERE’S NO CHANCE #BITCOIN DOESN’T GO TO $1 MILLION THE MOMENT BTC GOES PARABOLIC, “EVERYONE WILL FORGET” THIS" DIP “LONG-TERM THINKERS” WILL BE REWARDED MATTER OF TIME 🚀

Bitcoin is bleeding; the most important IPO moment in market history, with SpaceX, Anthropic, and OpenAI all heading to public markets simultaneously; why the data center buildout is falling dangerously behind schedule; Bernie Sanders' plan to give the government a 50% stake in every major AI company in America, and so much more in today's episode on All Things Markets (@AllThingsMkts) with Mike Novogratz (@novogratz) and me. (@SALTConference) Watch on X, YouTube, or Spotify, using the link in the comments below. Timestamps 0:00 Novo and Mooch are back! 0:45 Jobs report: Why is the economy so resilient despite every headwind? 2:11 If you knew everything coming, would you have predicted Bitcoin down 50%? 4:57 Relative Strength Index (RSI) explained 5:55 Is the Bitcoin thesis broken? 8:21 Anthony's Bitcoin position 10:23 The story of 3 IPOs: Anthropic, SpaceX, and OpenAI 12:17 Bernie Sanders "A.I. Is a Public Resource. You Should Own Half of It." 15:40 Galaxy’s data center and what it all means 18:18 The K-shaped economy problem and America's tale of two cities 21:22 Bullish or Bearish 1: Bernie Sanders' AI fund gets serious Senate traction 22:10 Bullish or Bearish 2: The AI energy trade outperforms chip stocks in the second half of 2026 24:24 Bullish or Bearish 3: Bitcoin trades down into the $50s before it gets back into the $70s 27:18 Bullish or Bearish 4: The U.S. enters a recession before year-end 28:03 Bullish or Bearish 5: The Knicks win the NBA Championship 29:46 Novo's story about his father

The AI buildout is absorbing capital at historic scale, creating temporary pressure across global markets. That does not weaken Bitcoin. It strengthens the case for scarce, liquid, digital capital. Bitcoin remains the premier asset for the long term. $BTC

RT @ColeMacro: As a long-time Bitcoiner, I believe the debt crisis won’t improve, debasement will continue, and we’re moving toward a Bitco…

I agree with this assessment

It’s just a flesh wound, Jim.

“It’s a massive vacuum. Every single investment bank on Wall Street is out there marketing the anthropic deal, the open AI deal, Google deal the Spacex deal. Everybody has to come up with $400 billion of cash.” - Michael @saylor Capital is chasing the IPO frenzy. It will revert back to pristine, scarce collateral as technology breakthroughs fuel access and expose moats. The network that doesn’t need a moat wins at the end. #MSTR #BTC From @TradePMR event.