Everyone copied Michael Saylor. $80 billion later, they’re selling the bottom.
Michael Saylor’s Strategy just bought Bitcoin again after ten weeks on the sidelines, spending $370 million near the week’s highs. Scott breaks down where the rest of the $603 million it raised actually went, and why that matters more than the purchase.
Meanwhile the fifty biggest Bitcoin treasury copycats have lost a combined $80 billion and turned into net sellers, which Scott argues proves Strategy’s machine, not the idea of holding Bitcoin, was always the real asset.
He also covers a record year for crypto token buybacks, Russia’s new state-run crypto exchange, two hacks that halted their own blockchains, and a teleprompter operator who bet on Trump’s speeches before they aired.
Timestamps
00:00 Cold open: Saylor is buying Bitcoin again, but the real story is how
00:42 Strategy spends $370 million to restart its Bitcoin buying
01:41 Where the rest of the $603 million Strategy raised went
02:52 Shareholders are getting diluted to fund the buying
04:13 The 50 biggest Bitcoin treasury copycats lost $80 billion
07:02 Crypto token buybacks just hit a record high
09:23 Russia opens a state-controlled crypto exchange
11:38 Two hacks halt their own blockchains in one week
13:16 How Not to Invest: betting on words before they’re spoken
#DailyWolf #Bitcoin #MichaelSaylor
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