2380: $100T Bitcoin Panic - They Think It's Over

**Justin Verrengia** (0:00)
Everybody's brave, until Bitcoin cuts in half. Then you find out, who was full of shit? Michael Saylor is under attack, so I just bought the fucking dips so I can double my stack. But on a serious note, Saylor is under attack again. Bitcoin is down over 50%, we hit a new cycle low, strategy is bleeding, the critics are celebrating, the headlines are brutal, everyone knows Bitcoin is finished. It's done, stick a fork in it. I've seen this movie before. Every single cycle, the louder the fear becomes, the closer Bitcoin gets to changing everything. Right now, social media is flooded with the same narrative. Strategies, preferred stock is trading well below par. Bitcoin has erased over half its value, billions have disappeared from the market, and Peter Schiff says Saylor is defrauding investors. Others are calling him criminal and one of the worst investors of all time. They're saying Bitcoin is over, they've written the obituary and yet this is exactly what every Bitcoin bear market has looked like. First they attacked the price, then they attacked the companies, then they attacked the people, eventually they attack anyone who still believes. Conviction becomes embarrassing, buying becomes irresponsible, optimism becomes a joke until the cycle changes. Most people think Bitcoin bull markets begin when prices start rising. History suggests the opposite. Bull markets begin when nobody wants Bitcoin. That's when the long-term holders quietly accumulate. That's when the weak hands finally surrender. And that's when fear reaches its maximum. Saylor recently addressed the volatility directly. He wrote, volatility tests every capital structure. It also tests something far more important, your conviction. Anyone can say they're bullish when Bitcoin is making new all-time highs. The real test comes when your portfolio is deep in the red, when every headline tells you you're wrong, when friends tell you to sell, and when social media laughs at anyone still buying. That's where fortunes have been made historically. And that's just a fact, Jack. In fact, that's a sexy little bitty black Jack. Not because fear guarantees higher prices, but because fear forces investors to decide whether they actually believe the thesis they claim to believe all along. Bitcoin has survived exchange collapses, government bans, mining bans, bank failures, endless media attacks, and multiple crashes exceeding 70 percent. And every single time, the obituary writers eventually disappeared. Bitcoin didn't. Today feels different because every bear market feels different. That's what makes them effective. Fear convinces people that history no longer matters until it does. The investors who usually win aren't the ones who perfectly predict the bottom. They're the ones still standing when everyone else gives up. Today's headlines may look terrifying, but history suggests they often appear right before the next chapter begins. The biggest opportunities don't arrive when people feel comfortable. They arrive when everyone is convinced Bitcoin is dead. Every cycle, that's exactly how the bottom feels. Think this time is different? Let's find out. Strategies STRC hit an all-time low today of $71.76 and now has an effective yield of 16.03%.
It is now 28% off from par, is supposed to be around $100.
That's why you have so many panicking, especially those with the very low conviction. They're now calling Michael Saylor a criminal because they're underwater. He's not a criminal when everything's good, but he's all of a sudden a criminal because they're in the red. So, Saylor responded today on Axe. He wrote, volatility tests every capital structure. Strategy remains focused on Bitcoin, disciplined capital allocation, credit quality and long-term value creation. We appreciate our investors and will continue to execute with transparency and resolve. And you can tell Saylor's not getting much sleep. And this was at 4:16 a.m. Time stamped right here. So, that's Saylor's response to what's going on right now. Also, Sampson Mao, I want to talk to Sampson. Suggests strategy can sell 25,000 Bitcoin to BSTR and an over-the-counter deal. This is Adam Back's company. Making BSTR the world's second largest corporate Bitcoin holder with 55,000 and 21 bits coin. He compared it to selling a classic car and wanting the new owner to take good care of it. Now, we all know when Saylor purchases Bitcoin, he does it over-the-counter, so it doesn't impact the price. But what happens when he sells it? I think he should also do over-the-counter, so it doesn't affect the price. I think Sampson has a great idea here, and that would make BSTR the second largest holder of Bitcoin. 21, they're currently the second largest corporate holder, so they would then be shoved down to number three, and the number two spot will go to BSTR. If they do that, do you think this will happen? Do let me know.