2463: Bitcoin Breaks $86,000 for the First Time in 8 Months as Shorts Get REKT

Justin Verrengia (0:00)

If you've been waiting for Bitcoin to finally wake up, pay attention, because something changed in this market overnight, and the biggest buyers were already positioned before it happened. What comes next is going to move fast. Let's get straight into it. $1 million Bitcoin just got one step closer. Bitcoin smashed through 85 for the first time in eight months, and the timing couldn't be more obvious, because while traders were betting against Bitcoin, $400 million plus in leverage shorts got obliterated in hours. As Saylor says, bears get burned. Meanwhile, some of the biggest Bitcoin treasury companies on earth were doing the exact opposite, buying more. Strategy acquired another 950 BTC. Strive acquired another 1,355 BTC. That's 2,305 Bitcoin acquired by two public companies while the market was preparing for Bitcoin's next move. And now Bitcoin is breaking out still. And look at what's happening at the same time. Gold is falling. That's right. As Bitcoin is ripping. Take that, Peter Schiff. And while gold trades lower, Bitcoin has surged roughly now 6%, smashing through 86,000, hitting a new 8-month high. The hard money trade is shifting in real time. Take that, Peter Schifty. This is how the race to 1 million accelerates. Not because of one green candle, not because somebody drew another line on a chart, but because the amount of capital competing for Bitcoin continues to expand, while the available supply remains brutally scarce. Strategy now holds 846,000 Bitcoin even, and Saylor still isn't finished. He's just getting started. Corporations aren't finished. Wall Street isn't finished. Governments aren't finished. And now Apple is hiring a crypto lead to work on Apple Pay as digital assets continue pushing deeper into the mainstream financial infrastructure. Bitcoin is breaking out. Shorts are getting destroyed. Public companies are accumulating. Institutional access keeps expanding. And Bitcoin continues disappearing into the hands of the buyers who aren't thinking about the next trade. They're thinking about years and decades ahead. That matters because $1 million Bitcoin doesn't happen because everybody wakes up one morning and suddenly agrees Bitcoin has worked seven figures. It happens through repricing. More capital enters. More Bitcoin gets accumulated. Available supply gets tighter. Then the price moves higher. Sellers demand more. The market reprices once again. And eventually, the numbers everyone once called impossible become the numbers everyone pretends were obvious. We have watched this happen throughout Bitcoin's entire history. $100 sounds ridiculous. A thousand sounds ridiculous. Oh, 10,000, Dave, it'll never happen. 100,000 is just insane. Now the conversation has moved to a million. And the people laughing at that number should probably pay closer attention to who is accumulating before Bitcoin gets anywhere near it. Strategy isn't waiting for a million, and neither is strive. Institutional capital isn't waiting for a million. They're positioning right now. And every Bitcoin removed from liquid circulation makes the competition for the remaining supply that much more intense. That's the part the bears continuously underestimate. Bitcoin doesn't need every person on earth to suddenly become bullish. It needs incremental demand to collide with increasingly reluctant sellers. Then price has to do the one thing it can do, go higher. Today's breakout isn't one million Bitcoin. It's another step in the repricing process that gets us there. And once Bitcoin starts ripping through the major levels again, everyone waiting on the sidelines faces the same decision. Keep waiting for cheaper Bitcoin, or start competing alongside Sailor, Strive, Wall Street, corporations, Nipponator, and eventually the sovereigns for what remains left. The $1 million Bitcoin race just accelerated. And that's the bigger picture. Now let's get into everything happening underneath this breakout, because we've got fresh Bitcoin purchases, liquidations, institutional moves, and another major name pushing deeper into digital assets. And let's start right here with Sailor's update. Strategy has acquired 950 Bitcoin and repurchased 174 million worth of STRC.

As of September 20th, we hold 846,000 Bitcoin and over 6 billion USD.

That's the fiat war chest. Sailor's strategy is currently sitting on 8.7 billion in unrealized gains. Not too shabby. And this bull market is just getting started. To put this into perspective, he was negative 14 billion 90 days ago. So he went from negative 14 billion, of course, in unrealized losses to now almost 9 billion in unrealized gains. It just goes to show you how fast things can change around in the Bitcoin space. So shut out Sailor. Also, as you can see here, he should be celebrating right now. A 90 day turnaround like we have never seen. Bear market fudsters. And of course, he got so lucky that Michael Sailor, well, to be quite honest, Sailor has bigger set of balls than every other CEO out there because he was the first to put Bitcoin on the balance sheet and see the vision and put his money where his mouth is. You got to respect it. He had the first movers advantage and he'll be the first company to achieve holding 1 million Bitcoin. And they say Satoshi has roughly 1 mil to 1.1 million Bitcoin, which has been untouched and unmoved since the inception. You know, he received all those two block rewards that are dispersed in like over 20,000 Bitcoin wallet addresses. Well, Sailor, his company is gonna have over a million Bitcoin quite soon, if you're to ask me, potentially before the end of this year, as we're fast approaching the fourth quarter, let me know your thoughts on that.