We're Right on Schedule

Bitcoin dropped 10% to $73k over two weeks while stocks are exploding to all-time highs. This bear market isn't driven by collapsing companies — investors are leaving because the grass looks greener on the other side.

#417 - Strategy Pays Off Debt, Ethereum Wavers, and Trump Guards Crypto

Capitulation across the board, Vitalik's course correction for the Ethereum Foundation, Strategy retires debt with cash, and the Clarity Act stalls. We break down why this is the worst sentiment in years.

Is America Going to Buy 1 Million BTC?

After a year of silence, the US bitcoin reserve is back on the agenda — no longer as executive order but as law. Are massive bitcoin purchases coming? Plus: on-chain stocks and the SpaceX IPO.

A Secular Turning Point

Inflation spikes as the Iran war reshapes markets. Stocks keep setting records while central banks are painted into a corner. Meanwhile, bitcoin grinds through its bear market—caught between a K-shaped economy and AI's insatiable hunger for capital.

The Alphabet Economy

The alphabet economy reveals why growth doesn't feel the same for everyone. From K and E to C and I: if you own assets, you ride the wave up. If you don't, you're the one stuck with the bill.

Bitwise: "They Bought the Dip"

The rally seems to be losing steam, with price stuck around $80K—not exactly bull market behavior. Meanwhile, Bitwise just had its best quarter ever. Who's quietly accumulating?

Bitcoin Is Undergoing an Uncomfortable Merger

Bloomberg analyst Eric Balchunas sees bitcoin and Wall Street slowly merging. But what happens to bitcoin when banks and ETFs take it mainstream? The cypherpunks built it—now the suits want in.

Does this rally prove the bear market is over?

Bitcoin is up over 30% from its $60,000 bottom on February 6. Yet it's too early to declare a new bull market. This could very well be a bear market rally.

Bitcoin: The Domain of Dark Blue Suits

Bitcoin 2026 showed how blue suits are embracing bitcoin. But the real bull market needs to happen in usage, privacy, wallets, and peer-to-peer adoption — where bitcoin actually began.