Kendrick | Ledger ₿

Since last post, we entered ding dong stage as expected. Seems like $BTC is trying breaking out of an triangle now. The past week buys have been by the institutions. Expect it to accumulate at this area before the next move.

Pullback into accumulation zone Bags loaded Next run will be an institutional run Keep it simple Patience.

There is a lot of noise surrounding the potential US/Iran deal. Here’s what the rumors are so far: - Iran has agreed to give up its stockpile of highly enriched uranium. Iran currently has 400 kg of highly enriched uranium. Enough for 11 nuclear bombs. - The US would begin a phased unfreezing of Iran’s $6b to $30b in cash. - The Strait of Hormuz will open up. - Iran won’t charge a penny for ships to pass through. No $2m toll fee. - The US agrees to relieve some of the sanctions. - War ENDS on all fronts with Lebanon. - US forces near Iran to withdraw. - 30 to 60 days to finalize the nuclear deal. If true, that’s a massive victory for the President. Here are the winners and losers. Winners: 1. American people. Oil prices will likely fall. Shipping insurance costs drop. Inflation pressure eases. 2. The President 3. Global markets. 4. Stock market. 5. Gulf states. Temporary tension eliminated. I have them as both winners and losers. 6. IRGC gains legitimacy. They’re not Venezuela. Whether anyone likes it or not. Including myself. 7. China is a major winner. The Strait of Hormuz hurt them the most. They can spin this to their people that the deal got done after the President left China. 8. Russia relies on Iran being a bit more stable. 9. NATO nations were starting to worry. They were pansies shivering about having to help the US. (They’re also big losers in my eyes) Losers: 1. Iranian people. No one knows what the IRGC will do after this deal to their own people. Their media outlets will say they beat America. That message will 100% be pushed. The Iranian people will be under even more scrutiny by the IRGC. 2. Obama’s administration. This sounds like a much stronger deal than Obama’s administration made. 3. Netanyahu. He wanted regime change or collapse for his legacy, but Trump wasn’t on the same page at the end. 4. NATO was exposed. They showed they don’t have America’s back if shit were to hit the fan. Terrible moment for them. 5. Reza Pahlavi. Another year of not being able to help his people become free. This point will lead to more memes by the RP loyalists but it’s the truth. 6. Gulf states. The IRGC still controls a neighbor capable of firing rockets at surrounding Gulf nations. 7. Iranian proxies and non state actors. Hezbollah, Houthis, and Shia militias will not receive the same funding flow if sanctions are removed under limitations tied to the agreement. 8. Defense contractors and war hawks. They wanted this thing to continue so they could land massive contracts. I’m sure they’re not happy. 9. Oil producers benefiting from high prices. 10. Political extremists on both sides. Those who wanted to see the President lose (woke right) and those pushing for nuclear war. 11. Democrats. They desperately needed this to continue heading into the midterms. They will HATE this deal. Don’t worry, they’ll still find a way to blame Trump. But independents won’t fall for the BS. Democrats and the woke right will follow suit, but not reasonable independents who can see through the nonsense. I predicted this would be done before June 14th. Lots of people pushed back. Obviously, it’s not done yet, and anything can happen, especially when dealing with Iran, but if the President pulls this off, the news outlets, pundits, and influencers will move on to the next issue after they’re done crying nonstop. The greatest 60 days of positive distractions are around the corner. President Trump’s birthday: June 14th US 250 year anniversary: July 4th World Cup: June 11th to July 19th The world will move on, and the President can focus on driving results toward the midterms, Cuba, affordability and other issues. Love him or hate him, he continues to show how fluid his mind is and that he can change his approach depending on whether things do or don’t go his way. Future Looks Bright.

Discipline in trading is truly the hardest trait to acquire.

@Usoppu 1. Your priority is your wife. Your wife’s priority will always be the kiddo. 2. Water tumblrs on standby everywhere. Useful when she’s pumping. 3. 2nd opinions always before making any medical decisions

First-time dads: What’s the best advice you wish you knew before birth? My wife (30F) and I (35M) are expecting our first kiddo this month!

Hidden in the chaos is arguably Bitcoin's greatest adoption story to date. In the middle of a war, a country chose Bitcoin to settle trade. Not gold. Not the dollar. Not stablecoins. Why? Because in the end, the best money wins. Bitcoin is money for all when you need it most.

@anndylian It recently got rejected at MA200 and a Resistance area so the pullback is normal. Key area would be to observe the yellow trend line. Did a research on the recent price action, sharing it here thebitcoinclass.substack.com/p/intelligence…

I think Bitcoin will go lower. Do you agree? Thread 👇

Silver is looking like a classic textbook play

Who runs harvard ?

Chamath just asked the question nobody in AI wants to answer (Save this). "Okay guys, you've spent $3 trillion in the last four years. What is the ROI of these tokens?" It is the most important question in technology right now and the data suggests most of the people being asked cannot answer it. A PwC CEO survey published in January 2026 found that 56% of CEOs report no increase in revenue and no decrease in costs attributable to AI over the past year meaning the majority of companies deploying AI tools have not yet produced a single dollar of auditable return. And only 12% reported experiencing both benefits. Hyperscalers alone are on track to spend $675 billion on AI infrastructure in 2026, up 63% year over year, with total global AI investment approaching $2.5 trillion this year alone against a backdrop where most enterprise buyers cannot yet quantify what any of it produced. Chamath's answer to the question is the real insight. He said what happens next is that enterprises go to guys like Mark Benioff and say: "please sell my tokens." In other words, the AI labs built the capability but the enterprise software giants are the ones who have the customer relationships, the distribution, the workflows and the trust to actually convert token consumption into measurable business outcomes and therefore into revenue that justifies the spend. Mark Benioff was sitting in the same conversation and confirmed exactly that, he said Salesforce is about to spend $300 million on Anthropic. But listen to what Benioff did with Salesforce's own balance sheet at the same time. He announced the largest stock buyback in enterprise software history $50 billion, or 28% of Salesforce's entire market cap while simultaneously admitting the stock has fallen 36% over the past year. In March, Salesforce launched the largest accelerated share repurchase in history to execute $25 billion of it immediately, financed in part with debt it will be carrying until 2066. Chamath is pointing at the underlying structural problem that has triggered the SaaS rout of 2026, software forward P/E multiples have now fallen below the S&P 500 for the first time in history, the iShares software ETF is down over 21% year to date and 30% from its September 2025 peak, and companies like Adobe, and Workday have seen their valuation multiples drop 47-54% in a single year. The core fear is not that AI does not work but rather that AI is breaking the seat based model that built the entire B2B software industry. If one AI agent can do the work of five employees, enterprises stop buying 500 seats and start buying 100, or renegotiate entirely and the recurring revenue that made SaaS stocks trade at 40 times forward earnings simply evaporates. Chamath's prediction is that AI multiples come way back down while infrastructure plays go back up and find a balance is essentially already happening in real time.

Bitcoin is better money than gold. It has superior monetary properties. In fact, Bitcoin beats gold on 25 different dimensions. 1. Portability: Move billions across borders with 12 or 24 words. Gold needs guards, vaults, trucks, customs, and prayers. 2. Divisibility: Bitcoin divides into 100 million sats per BTC. Gold is awkward to divide, verify, and spend in small amounts. 3. Verifiability: Anyone can verify Bitcoin supply and ownership with a node. Gold requires assays, trust, and specialists. 4. Scarcity certainty: Bitcoin has a hard cap of 21 million. Gold supply expands with mining, new discoveries, and potentially asteroid mining. 5. Supply auditability: Bitcoin’s total supply is publicly auditable in real time. Nobody knows the exact amount of above-ground gold. 6. Settlement speed: Bitcoin can settle globally in minutes. Gold settlement is slow, expensive, and institution-heavy. 7. Custody sovereignty: Bitcoin can be self-custodied without a vault. Gold self-custody is physically dangerous and logistically annoying. 8. Confiscation resistance: Properly secured Bitcoin can cross borders invisibly. Gold is obvious, heavy, and historically confiscatable. 9. Storage cost: Bitcoin can be stored for near-zero physical cost. Gold requires vaulting, insurance, security, and transportation. 10. Transport cost: Bitcoin travels at the speed of information. Gold travels at the speed of armored logistics. 11. Programmability: Bitcoin can integrate with multisig, time locks, Lightning, smart custody setups, and financial infrastructure. Gold is inert metal. 12. Global liquidity: Bitcoin trades 24/7 globally. Gold markets still rely heavily on traditional financial rails and business-hour settlement layers. 13. Settlement finality: Bitcoin can provide direct bearer settlement without trusted intermediaries. Gold often settles through paper claims. 14. Resistance to counterfeit: Bitcoin units are mathematically validated. Gold can be plated, diluted, faked, or rehypothecated. 15. No trusted issuer: Bitcoin has no central issuer, board, treasury, or refinery bottleneck. Gold custody often depends on institutions. 16. Easier inheritance: Bitcoin can be structured with multisig and recovery planning. Gold inheritance is physical, messy, and theft-prone. 17. Collateral efficiency: Bitcoin is easier to pledge, move, audit, and financialize digitally. Gold collateral is slower and more custodial. 18. Transparency: Bitcoin’s monetary policy and ledger are open. Gold’s market is opaque, with hidden reserves, paper claims, and unclear leverage. 19. Censorship resistance: Bitcoin can be sent peer-to-peer globally. Gold needs physical handoff or trusted transport. 20. Energy-to-scarcity conversion: Bitcoin turns energy into digitally verifiable scarcity. Gold turns energy into heavy rocks guarded by men with sunglasses. 21. Monetary upgradeability: Bitcoin can absorb software improvements at the network edges. Gold cannot become more useful without wrapping it in trust-based systems. 22. Unit consistency: Every bitcoin is perfectly fungible at the protocol level. Gold varies by purity, form, assay, and bar history. 23. Lower friction: Bitcoin is easier to buy, sell, send, receive, verify, split, secure, and integrate into modern finance. 24. Digital-native compatibility: Bitcoin fits an internet economy. Gold belongs to a world of vault receipts, musty central bankers, and men named Klaus guarding basements. 25. Personal sovereignty: Bitcoin lets one person hold immense wealth directly. Gold makes you become your own medieval castle.

Ali Abdaal just dropped his Claude Code workflow. And I think this is the most beginner-friendly breakdown anyone has published. Most Claude Code tutorials are made by engineers for engineers. Terminal commands. API keys. Technical jargon that loses you in the first 60 seconds. Ali starts from zero.

New podcast on sales - Sell the Truth. 00:00 Be Credible 03:18 “Yes, And” 04:31 Selfish Honesty 05:37 Charisma Is Confidence + Love 07:56 Don’t Manage, Lead 11:16 Hunt Together 14:51 Feed Your (Good) Obsessions 18:57 Sell the Truth 21:07 Good Deal or No Deal 23:39 The Age of Nonlinear Returns

While Bitcoin gets a lot of attention, it hasn’t played the safe-haven role many expected. In my view, there are a few reasons why. First, Bitcoin lacks privacy. Transactions can be monitored and potentially controlled, which is why central banks aren’t looking to hold it. Second, it also has a high correlation with tech stocks. When investors get squeezed in other areas of their portfolio, they sell their Bitcoin to cover it. Third, it’s a relatively small and controllable market, whereas gold stands alone. There is only one gold. Ultimately, gold is more widely held, deeply established, and still plays a central role in the global system.

I guess Kimmy is becoming paranoid

We broke out of the ascending triangle Bullish momentum, next stop to watch $85,000 Very likely that was the bottom of BTC Will need more catalyst as it moves higher

@Usoppu Mahjula Singapura 🇸🇬

wah really meh? where my singaporean bros at let's lepak together

@Xeer @SingaporeAir Damn that NDA move was not it 🦕

As a Singaporean 🇸🇬 I’m always the most proud of my national carrier @SingaporeAir. Sadly this wasn’t one of those times. I take a LOT of flights every year and a large number of those are on SQ. Dirty seats. Chocolate wrapper stuck in the seat table and another in the chair seam. Poor service recovery. On an 18 hour flight from New York to Singapore. Even on the lowest of low cost carriers I’ve not experienced this. Followed up with customer service after the flight. Their offer? 7500 miles ($100) and NDA so I never speak about this again. Told them to shove it. Loyalty should go both ways. I hope SQ reclaims best airline in the world one day the way Lee Kuan Yew envisioned but this is not it.

Aave LLC has filed an emergency motion to vacate a restraining notice served on Arbitrum DAO on May 1, 2026 that attempts to seize approximately $71 million in ETH belonging to victims of the April 18 exploit. A thief does not gain lawful ownership of stolen property simply by taking it, and the law is clear on this. Those assets were recovered to be returned to users victimized in the April 18, 2026 exploit. Freezing them harms the very people this recovery effort is designed to protect. We’ve asked the court for an expedited hearing and a temporary vacatur, and we are continuing to work alongside the Arbitrum community and DeFi United to make affected users whole.