What if one company bought more Bitcoin than the entire mining network produced over the past 12 months — and the price still went down? That's exactly what happened with Strategy.
In this clip, I unpack Michael Saylor's $1B (and subsequent $2B+) recent purchase, the 780,000 BTC treasury, the "paper Bitcoin" debate, and why this might be the most fascinating piece of financial engineering ever executed in real time.
Here's what's covered:
00:00 — One buyer outbought every miner on earth
01:20 — The $1B recent Strategy purchase
02:30 — Paper Bitcoin or real Bitcoin? The custody debate
03:45 — Where the coins actually sit: Coinbase, BitGo, Zappo, Fidelity
05:10 — The flywheel: price up, treasury up, buying power up, repeat
Custody providers: Coinbase Custody, BitGo, Zappo, Fidelity Digital Assets
If Strategy outbought new supply and price still dropped — think about how much selling pressure was actually out there. Did a lot of coins just move into diamond hands? Or is Saylor's BTC balance sheet just a paper promise?
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