The Bitcoin treasury company DEATH SPIRAL is Accelerating! | EP 1553

**SPEAKER_1** (0:03)
Well, everybody's been distracted with Michael Saylor. We keep getting more confirmation that the Bitcoin Treasury death spiral is unwinding. Today we saw the second largest Bitcoin Treasury company in the UK officially capitulating selling all their Bitcoin and closing the doors on their company. But you can't view this in a vacuum. Of course, yesterday we talked about Jack Maulers leaving the second largest Bitcoin Treasury company in the world. And last week we didn't cover it, but Adam Bach's Bitcoin Treasury company also stalled. So is this the capitulation signal we've been waiting for? We've been saying this on the show. I don't even know for how long at this point, but the capitulation that everyone is expecting the Bitcoin price is most likely going to come from the Bitcoin Treasury space. So we might be seeing the bottom signal. This might officially be the bottom, guys. It might be this. I think this might be it. All right. Anyway, what am I talking about? What am I going into here? So yesterday we saw this is coming from Bitcoin Treasuries on Twitter, and it goes, Justin, shareholders of Mark Moss-backed British Bitcoin Treasury company, Satsuma Technology, dollar sign, sat sticker, have voted to sell all of its remaining 668 Bitcoin return capital to shareholders and shut down the company. So let's let's dive in here a little bit. Here's Bitcoin Mags, Satsuma shareholders approved Bitcoin liquidation, and London D listing. So look, for all of us that stayed humble and stack sats, I don't necessarily think this is a time for us to gloat about us being right. But for everyone else that did get caught up in the Bitcoin Treasury hype, it might be time to reevaluate your investing thesis here. Look, I'm not saying like fire sale your stocks yet, but if I was holding Bitcoin Treasuries, I would probably be a little worried, right? I mean, but like how much more worried can you be when most of them are down like 80% plus? I don't mean to laugh at your pain here, but man, it's been brutal. Anyways, let's look at the Bitcoin Treasuries leaderboard, I guess you'd call.
And you can see that Satsuma is here at 57 on the Bitcoin Treasury leaderboard. But since there's not that many UK companies, this as of now, or rather was the second largest Bitcoin Treasury company in the UK. So let's look at their holdings here. And this is where you can kind of see the story. They did at their all time high hold almost 1200 Bitcoin. Now, of course, 668 Bitcoin and that's all gone. That's gonna hit the market or, you know, they just voted that it's going to be sold. The company's gonna delist. Shareholders are gonna get their capital back.
It's not looking very good for the Bitcoin Treasury hype cycle. This is something that we've been talking about for a while and now we are seeing it. And I think this brings up the broader kind of conversation. One, of course, is this the final capitulation signal that we were expecting for the bottom of the bear market? This is usually what happens in a bear market. When you get to the bottom of a bear market, it's like we always say, the world is healing. And those that weren't smart allocating their capital, they end up leaving the market. And we're seeing this not only again, not in a vacuum, we're seeing this happen everywhere. Obviously, you could make the case that maybe Saylor started this. Well, in general, I guess, being maybe a little loose with your definitions by creating the Bitcoin Treasury Company and the hype that followed. If you wanted to be cynical, you could put the blame on Saylor. But Saylor's strategy is doing, I think, will be okay. I think Saylor figured out what they're going to do with strategy. Yes, they're being tested right now. But this did also come on the tail of Saylor selling some Bitcoin. And everyone obviously has an opinion on this. It's like he was aping in at the top of Bitcoin and stacking dollars at the Bitcoin bear market. You're kind of supposed to do the opposite. And now, we're seeing, hey, look, the quote, pure Bitcoin play, it might not work out as everyone expected it was. I mean, there was a very big hype on this idea that all you had to do to turn around a zombie company, because like the broader conversation is really there like the entire economy, the entire stock market, whether it's in the US or everywhere else, for the most part, are kind of it's kind of filled with a bunch of zombie companies. If you look at the S&P 500, it's probably like 495 zombie companies. Like they're, yeah, they're there, their names, you know, but are they really doing anything? Not really. They are pretty much only going up because they are expanding the money supply. That's one of the things that I keep saying, and I keep trying to keep in mind is, we are seeing the stock market continue to go up. And yes, most people would look at that and be like, hey, look, I made more dollars on these stocks. Like, look at my gains. I'm doing so well, you know, 15, 20% or whatever, it's at right now.