The market has struggled to evaluate BTBT because its strategic narrative has shifted substantially, and past financials and profits are not telling the story of where they’re headed. • they have abandoned BTC mining, which is no longer profitable with the rising energy costs and BTC mining rewards constantly being halved over time • they own 70–80% of WYFI, an AI HPC which recently IPOed and is being carved out (WYFI is up 23% this past week) • BTBT is very clear that their sole goal now is to become a leading ethereum treasury, and they plan on divesting WYFI over time to make opportunistic ETH accumulation minimizing potential share dilution • you need to be bullish and long on the macro case for ETH to really appreciate the BTBT opportunity beyond a simple discount to nav play • with the Genius Act, there’s regulatory clarity on stable coin, and there’s a clear movement and institutional alignment in the broader financial systems to integrate tokenization and stable coin, and this is mostly being built on ETH rails as a settlement layer • ETH is rapidly evolving into a store of value narrative similar to gold, and in recent years, bitcoin In my opinion, ETH treasuries like BTBT (especially if you can get it at a discount like right now as retail investors sleep on this one) are the best risk-adjusted bet for asymmetric returns in the long run. Risks include execution, governance, crypto volatility, and broader black swan events.

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That is why I went long LDI. It's a nice little hedge to my open short. It was on the same peoples radars and has very similar conditions. If I was wrong on OPEN then LDI is a great long. DYOR

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Yes a very severe one at that

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Very cool how the market only moves enough for options to not be profitable.

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55% of the S&P is held up by the Magnificent Seven. That's something to think about. They're starting to lose influence and early adopters are switching to SLM's, instead of LLM's, which are easier to integrate in their systems and in phones. And the chips and servers they invest in have a smaller lifespan than the investments companies made during the dotcom era. There are also other things to consider, but the point is that a lot of investments are being made, while revenue remains very low. That in combination with the market share they are about to lose, will make the stocks go down eventually. The only good thing is that the Magnificent Seven uses their own money to make these investments, rather than taking loans. So if the whole thing comes down, at least the banks are safe. Investors not so.

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https://preview.redd.it/7jo746p19rof1.jpeg?width=1024&format=pjpg&auto=webp&s=0008896ce464508473b4ccb38524c8161cad5d82 U practice Jew-jitsu very well my friend

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Got all 10 of my GEMI from RH, thank you RH, very cool

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Looks like nothing matters until FOMC. I'll most likely trade after that but it's been pure chop and drift very slowly higher the past few days.

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The VP or The Vice Pallbearer wore his very best eyeliner to pay his deepest respects.

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no idea for sure but I imagine it could easily get very ugly for them

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