Today’s Nuggets
Trump Media ups BTC Treasury Ante by $10 Billion
Tick-Tock next Block
Circle IPO Success
BTC vs MAG 7 vs World
Waymore Driverless Trips in CA
Ark Jumping into Neuralink
U.S. Officials to Meet Chinese
Record Debt Buyback
Over 12% of Credit Cards are 90+ Days Delinquent
Highest Unemployment in 43 Months
This is Friday Fire, where I cover all of the fire stories from the week. It has been a rough week, but it is Friday, so that is good news.
Let us get into today's story.
Let us delve into the fear and greed driving the crypto market, as Bitcoin has been hovering around the $105,000 level for quite some time, which has been sticky.
$105,000 is not bad, as we are still above $100,000.
There is a significant amount of cumulative short liquidation at levels above $110,000.
Firstly, there is not much Bitcoin available for sale. Secondly, the shorts will be forced to scramble to cover, which could take us to an impulse north of $120,000 rapidly.
The setup is there for the Bitcoin price to explode if the Bitcoin price could move another $6,000 fast.
Here is Greg Kidd, who invested in both Twitter and Square.
He has bought a company called Know Inc. and plans to buy 1,000 Bitcoins worth over $100 million. Each time a company comes in and buys 1000 Bitcoin, it displaces those whole coiners.
This BTC treasury trend is crazy, and I have never seen anything like this, as the pace even astounds me.
Trump Media was originally going to raise $2.5 billion to buy Bitcoin.
They have now decided they will add another $10 billion to the ante. This company is suddenly trying to raise $12.5 billion. My theory has been that they want to raise as much as possible to buy as much as they can because they want to front-run the strategic Bitcoin reserve by the U.S. government.
We already have a Pakistan front running the U.S. government. This is a crazy time to be alive, but sit back, hold, and watch your Bitcoin in one hand and your popcorn in the other while enjoying the show.
Bitcoin for corporations did a very detailed post on exactly how Palantir needs to deploy some of its cash position.
They have $2.1 billion in cash. This is interesting, but I do not like them for a few reasons: 1.
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