Bitcoin (BTC)

BREAKING: 🇺🇸 US SENATORS WILL MEET NEXT WEEK TO FINALIZE THE #BITCOIN CLARITY BILL BEFORE AUGUST RECESS — PUNCHBOWL CLEAR RULES FOR CRYPTO IT'S FINALLY HAPPENING 🚀 https://t.co/RcDnmqqi2O

If Bitcoin keeps going down, will MicroStrategy end up like FTX? Pio and Kaleo discuss the future of MicroStrategy. Pio: "Do you realistically think that $MSTR is going to have to sell 50,000 Bitcoin in the next two years?" Kaleo: "More, and I think it's their best option. They have made it their clear mission that they want to increase net Bitcoin, but what does that necessarily do to create value for $MSTR holders?" "I just think it's reckless right now, the way that $MSTR and the other assets are being advertised... MSTR is amplified Bitcoin... it's just a fancy word for saying it's leveraged." "You can also lose a lot more on the way down... they can't get rid of those dividends unless they buy $STRC back... the obligations accrue; they don't go away." "Look at what happened with FTX. Did anybody think that Bitcoin was going to go back down to 16k?... No. As Bitcoin price goes down, the MSTR compression of their multiple continues to go down."

BREAKING: 🇺🇸 US SENATORS WILL MEET NEXT WEEK TO FINALIZE THE #BITCOIN CLARITY BILL BEFORE AUGUST RECESS — PUNCHBOWL CLEAR RULES FOR CRYPTO IT'S FINALLY HAPPENING 🚀 https://t.co/RcDnmqqi2O

GROCERY STORE GIANT SPAR IS NOW ACCEPTING #BITCOIN PAYMENTS IN SWITZERLAND IT HAS 13,900 STORES ACROSS 48 COUNTRIES THIS IS MASSIVE 🔥 https://t.co/gjlGbQwVSJ

Eddy Travia: Bitcoin treasury companies aren't dead, but betting your whole company on $BTC price is a bad business model. "The whole company should not rely on the price of Bitcoin for its future performance." NAV, BTC yield, all those metrics that went viral last year? "This is not a business model. This is just indicators." The companies that survive will have real operational activities, not just passive Bitcoin exposure. FT @KevinWSHPod @EddyBitcoin @CoinsiliumGroup.

"A 40-year-old IT worker, who requested anonymity, told @DecryptMedia that he feels misled after accumulating around $425,000 worth of STRC starting in May. The Californian’s position is roughly $42,000 underwater, yet he’s still holding, despite his shift from believer to cynic. “I was always skeptical of Strategy,” he said. “But the community was so dogmatic about its stability that, for a brief time, I was tricked into thinking STRC would be different.” The IT worker said he sold bonds to buy STRC and has since become glued to Strategy’s operations, particularly the company’s recent decision to heavily tap its cash stockpile to repurchase a portion of its debt at a discount, before attempting to steadily rebuild it. “Traditional investors like me don’t like the instability that comes from having a small cash reserve,” he added. “It could force them to sell Bitcoin.”"

🚨 ILLINOIS OFFICIALLY PASSES LAW TO TAX ALL CRYPTO TRANSFERS. Ridiculous or fair? https://t.co/ZAWK8BIxcv