Bob Dewey

Gold is repricing trust. Below is the updated debt-to-gold ratio. For 100+ years it climbed almost in one direction as fiat replaced discipline. As @LynAldenContact has shown, gold couldn’t keep up with the telegraph — money had to move faster than metal. As @saifedean explains, WWI accelerated the break from sound money and ushered in the debt-laden fiat century. The ratio just turned — but not because debt fell.

My compliance department has not approved the title so ignore it since it is wrong and has bad market juju. But I had a great time doing the interview with Angelo @familyoffice for close to two hours. He has embraced AI and used it to build an amazing business for single family offices. We covered the end of the AI Mid-Cycle Slowdown for momentum, Bitcoin, the Fed, markets, productivity, and the framework I’m using to think about what comes next. youtube.com/live/s3Tc9kGXy…

@ColeMacro @phongle Thanks again, Matt. Both you and @phongle emphasized listening to market signals and adapting as you learn. It was a reminder that financial innovation doesn't happen all at once or only in theory—it develops through market feedback.

A discussion between @macroleverageTP, @PhongLe, and me on why Bitcoin Treasury Companies exist, what the first real stress test for Digital Credit taught us, and the opportunity ahead for Bitcoin-backed financial innovation. TIMESTAMPS 0:04 - Why Bitcoin Treasury Companies Exist 7:22 - Financial Engineering Vs. Financial Innovation 14:24 - What Makes Bitcoin Treasury Companies Durable 18:42 - Does Bitcoin Need Treasury Companies? 22:20 - Addressing Bitcoin Treasury Company Criticism 26:46 - Growing Demand For Bitcoin-Backed Products 30:11 - What Has Surprised The CEOs Most 36:06 - The Evolution Of Digital Credit Products 45:10 - Lessons From The First Market Stress Test 53:10 - Bitcoin Market Depth And Liquidity 55:21 - Why Selling Bitcoin Is Not A Contradiction 1:03:37 - The Future Of Bitcoin Treasury Companies $MSTR $ASST $STRC $SATA $BTC

Equity investors have developed a confidence in public company reporting for a number of reasons including the role of the SEC and the low incidence of fraud among large public companies. Investors are trusting Bitcoin treasuries in the same way they trust bank balance sheets (and all others) to be accurate. For you and many others, it is perfectly legitimate to want to see more verification before you invest, but the market is not asking for it as of now.

@ColeMacro @macroleverageTP @phongle Bitcoin treasuries solve balance sheet transparency. Use multisig cold storage for custody. Why trust a board instead of a verifiable on-chain address?

Full interview here: youtube.com/watch?v=2rtWV0…

Markets don't just test companies. They test ideas. After one of the most turbulent periods yet for Bitcoin Treasury Companies, I sat down with Strategy CEO @phongle and Strive CEO @ColeMacro to discuss what the market taught them—and where they believe financial innovation goes from here.

Everyone has an opinion on why the stock market does what it does. Earnings. The economy. Who's in the White House. The Fed chair's mood that morning. Almost all of it is noise. This chart is 15 years of the Nasdaq 100 plotted against total global liquidity. The correlation is 97%. When I first saw this I was stunned. A fit this tight meant something much deeper was going on underneath. So I started pulling the thread. That thread became the Everything Code, the framework I've been building in GMI since 2023. It’s the single most important thing I can teach anyone about how the modern economy actually works.

Bitcoiners waking up after 22 months at $60k

Wait, Merriam-Webster’s got jokes?

@LynAldenContact No mulligan?

In related news, July 4th 2026 was intended to be the original end-date of DOGE, where they would have cut over a trillion dollars from the annual federal budget. But instead it dismantled, because nothing stops this train.

Important context.

"AI driving 28,000 job losses per month in tech and finance." The underlying data: - Tech and finance employment declined in the latest data. Bloomberg supplied the cause. Data and narratives are different things. That's precisely why efforts like @DigEconLab's new AI Economic Indicators project matter.

@dampedspring @JackFarley96 @BobEUnlimited Most people also did not need: 5G, iPhones, fast-speed WiFi, streaming entertainment, a home PC, dial-up AOL email electric windows in cars, or cars for that matter. These inventions naturally were better than the tech before them and became ubiquitous.

@JackFarley96 @BobEUnlimited "Some" people of course. "Other" people want the speed to be slow as they collect the rent of the kiting. "MOST" people don't give a fuck

What if. 1. Holding tradfi and real assets on chain is not something that anyone really cares about and decentralizing is just a tin hat myth 2. There are plenty of anti fiat stores of value without BTC or crypto 3. Existing payment rails are fine as is except for a small cohort of tech enable unbanked transactions and ones who need to avoid KYC 4. Traditional exchanges will meet all degen gambling and 24/7 trading demand

@gladstein Very expensive to be an "all-in" Trump fan. Brings the term "milking strategy" to new heights.

This rug was orchestrated to such an outrageous extent that maybe not even his biggest detractors could have thought this was possible

@LawrenceLepard 110%

This coin has lost 80% of its value. Better than Trump Coin and Melania coin which are down 99% from their peaks. The price we paid for having a crypto friendly President was high. Not a good look and has bad implications if Blue Team regains power.

Link: digitaleconomy.stanford.edu/project/indica…

The history of technology is not the replacement of people. It is the replacement of lower-productivity work with higher-productivity work. @DigEconLab latest AI labor data in its Canaries Dashboard may be showing the first stages of that transition. Use AI every day. The people who learn fastest may benefit most. Link below:

OpenAI released GPT-5.6 today. Access limited to "trusted partners only" — at the US government's request. Claude Fable 5 has been offline for 18 days under a separate government order. June 2026 marks the first month the US government materially restricted access to two separate frontier AI systems. @DavidSacks - why is this necessary?

@chasepalmieri @Strategy Insightful. The market is underestimating how much flexibility MSTR has over the long term.

I view @Strategy selling 32 BTC and drawing down its USD reserve the same way I view SpaceX rockets exploding on the launch pad. To outsiders, they look like failures. In reality, they’re stress tests that reveal the physics of the model, generating the data needed to make the next iteration stronger, more efficient, and more scalable. @saylor $MSTR $STRC

@HHorsley @Strategy Many levers to pull because MSTR is asset-rich.

People always seem to forget — Operators aren't passive actors. While the road is always winding for pioneers, they are determined to succeed and steer through the weather. Delighted to see this Framework from @Strategy