Is $60,000 the Bottom for Bitcoin? | REKT Vision, June 5, 2026

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**Bijan Maleki** (1:09)
Happy Friday, everyone. Welcome back to REKT Vision. I'm Bijan Maleki, and today we are joined again by OSF. Thanks for joining us, Ovi. Happy Friday. How are you?

**OSF** (1:22)
Yeah, not bad. Not so happy Friday, but we're doing well, as is tradition every time I'm on this show, apparently.

**Bijan Maleki** (1:29)
You know, just trying to find some positives in it, but quick note to everyone before we get into today's show. I mean, we've got a lot to talk about. I mean, if you've looked at your portfolio, you'll know we have a lot to discuss. But before we get into it, our RV analysts have been dropping their playbooks. It's their actual frameworks on how they navigate the market. So whether we go up or whether we go down, whether you're bullish or bearish, we're just trying to figure out what's going on. Check it out because they drop a playbook to help you, whether the market's up or down. So head on over to realvision.com. Andradeus' just dropped yesterday. Jamie's is dropping today. So check that out.
So OV, I mean, I guess let's just start with it right there. Obviously Zcash, top story. But I want to start with Bitcoin and just kind of see where your head's at with it. Because we're kind of at that 60K level, which I think is like a psychological level, if you will. But I just want to, what do you think about this? Is this, is that resistance? Is it support? What are we looking at from here in your take?

**OSF** (2:33)
Yeah, I mean, Bitcoin and crypto overall is just in a very tough spot at the moment, isn't it? Like, and it's not just one factor. I think it's a multitude of factors. You have Sailor, the strategy prefs, which I'm calling the pressure, you know, they've dropped below par. I think they're trading at 92 Well, they're trading at 92 today. Um, and, you know, there's a massive dividend cash obligation that he has on that annually, which was, I think, known at the start. Um, the way they planned to fund it was to keep selling more equity as Bitcoin rises, and then, you know, fund their dividend payments that way. Obviously, Bitcoin's been weak, and they've been the only big buyer in the market. So in order to fund those obligations, they had to sell Bitcoin, which is kind of crazy. Um, I think my guess is, I know they made that initial sale of $2.5 million. Uh, my guess is they've sold quite a bit more than that this week, which has led the decline. Um, I think there are some rumors out there that maybe sold $1 to $2 billion worth. I don't, I don't know. I guess we'll see it when it's reported. But, um, my guess is they've sold a decent amount, um, in order to fund a certain amount of runway of these dividend obligations. Now, if that covers a year, two years, and there's an argument to say there's, um, you know, not that it's bullish, but there's an argument to say that at least he's done selling now. But the problem is, everyone else realized that this is a business model that, you know, is very challenging. It's not, it's not going to work unless there is another buyer of Bitcoin who is not Michael Saylor. And so that brings us to the second question, which is like, well, who is the marginal buyer of Bitcoin here? We all own it. Everyone in crypto who owns it already owns it, and they've been crushed. So there isn't really like additional crypto demand. ETFs have seen outflows, and the problem with ETFs and that trad-fi bid, so to speak, is that's chasing all the AI stuff, right? Like all the AI stuff, AI stocks are up 10x in some cases over the last year, and I think as we can all appreciate, the AI bubble, if you like, is showing no signs of slowing. But the demand for AI is only going to continue to grow, which will feed down to the hyperscalers, will feed down to the memory guys, it will just feed down through to everyone. So with AI, sure, stuff like Micron has had an insane run and maybe it's drew a pullback, but there's a level where people are like, well, I'm just gonna buy this because it looks crazy cheap on a forward price earnings ratio. So I think it's just like, when all that stuff is going on, it's really hard, I think, for people to be like, let me buy Bitcoin with no catalyst other than the four year cycle one always comes back, which is kind of like the only argument for Bitcoin right now.