...why Bitcoin’s reaction from here matters far more than the purchase itself.
Markets abandoned valuation discipline chasing AI and datacenter narratives despite massive capex and resurging inflation. When profitability pressure surfaces, the disconnect between expectations—SpaceX valuations, private markups—and reality will trigger sharp corrections.
Saylor answers doubts with a $100M purchase. Citrini just called Hyperliquid a buy. And SBF is formally asking Trump for a pardon.
Bitcoin’s reaction from here matters far more than the purchase itself.
Sharp reversals often reveal underlying stress that has been building beneath the surface
...markets reconcile ambition with economic scarcity...
Just one day before the monster IPO, Goldman reassures investors that fundamentals are fine, valuations are fine, speculation is fine, supply is fine and IPOs are fine. Nothing to…
How high can we push valuations before something snaps violently?
