Jay
605 posts








TRENDING: Antonio Brown filed for bankruptcy and currently owes eight creditors nearly $3 million. In the Chapter 11 filing, Brown claims he has less than $50,000 in assets per @timesunion. @AB84 earned over $88M in his career; let's break down how he lost it all 👇 🧵1/10






Microstrategy's historical volume chart is quite the site, it traded more than Amazon yesterday w/ $8b. Outrageous activity relative to its history. The spillover effect from the spot bitcoin ETFs is underrated part of this. The equitized btc complex is doing >$20b/day in volume


You get some really wonky stuff that happens in market trend transitions. Like large delta-neutral funds/institutions getting blown out on "risk free" spread trades (blockfi, dcg/genesis, 3ac, Alameda, etc) MSTR currently has $3b of short interest - roughly 20% of its float. I imagine a lot of that float is angry tradfi boomers trying to capture the premium to NAV The funny thing is that the premium went from 50% pre ETF to 13% post ETF but now has reached highs of 70% The bull market is not nearly over so you might get the opposite effect here where that spread blows out in a mega squeeze - $GME style. Keep in mind that it's just gotten big enough to be included in S&P 500 $MSTR as levered $BTC is back baby

Elon Musk at Giga Berlin today. “When will I be able to buy a Tesla with dogecoin?” “At some point I think we should enable that.” 😂🔥

Just joined the Bored Ape Yacht Club! Why? Simply—I've always wanted to. Seeing all the selling in the timeline made me think this was a good time to pull the trigger. The floor price is the lowest it's been since August 2021 in ETH terms. Aren't you a Bitcoin Ordinals Maxi? Yes. But don't forget just over a year ago Yuga made a huge sign of support to Ordinals when it was nascent ecosystem that few big brands believed in. @CryptoGarga @GordonGoner are believers and supporters of Bitcoin despite being the top Ethereum NFT company. Aren't you bearish on Yuga? No. Yuga has the most capital of any team in the space. By a country mile. They own 5 out of the top 10 all time traded NFT collections. While the sentiment is at an all-time low today, just a year ago they were killing it with Dookey Dash at the absolute bottom of the market when BTC was $20k. I respect Daniel Alegre for his accomplishments as an executive, but the history of Silicon Valley has shown that bringing in a non-founding CEO almost always ends up being the wrong move for a young company. It's clear that since he took over as CEO shortly after Dookey Dash's success, Yuga's execution started to stray from it's vision. Not so different from when John Sculley took over as CEO of Apple from Steve Jobs. But with Garga back in the captain's seat, I'm bullish that this will no longer be the case. But isn't ETH the testnet? Yes. Ordinals and Bitcoin L2s will dominate the narrative, attention, and liquidity this year. But longer term, the testnet isn't going anywhere. It's good for Bitcoin. Competition breeds innovation and leads to a more vibrant industry with choice for devs and users. Conclusion I have many friends in the BAYC and am happy to finally join them in the club! I'm looking forward to meeting more holders and making new friends. I'd also love to see Yuga do more in Bitcoin Ordinals and expect they will; I'm happy to be a resource there if needed.






