Bitcoin
No, Michael Saylor Doesn't Control Bitcoin
Published
1 month agoon
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adminI have to call BS on this claim that Michael Saylor is now Bitcoin’s overlord and can single-handedly decide its fate. That’s just ridiculous.
During some drama about whether MicroStrategy’s valuation makes sense, Vinny Lingham declared Saylor is the second most powerful person in Bitcoin after Satoshi Nakamoto. He argued Saylor can dictate terms by threatening to dump MicroStrategy’s giant bitcoin stash if he doesn’t get his way.
While questioning MicroStrategy is fair game, the notion Saylor controls Bitcoin’s destiny is intellectually dishonest drama-baiting. Vinny knows better.
Bitcoin is decentralized, permissionless, and based on consensus. No single entity, not even the largest holder, can dictate terms.
If influence correlated to Bitcoin holdings, the asset would have failed long ago. Governments could easily acquire 10% of supply with their printing presses and control Bitcoin — but that’s not how it works.
Saylor can’t force protocol changes on Bitcoin. Even if he demands certain features, node operators hold the real power by enforcing consensus rules. If Saylor forks Bitcoin to make unilateral changes, the main chain persists while his fork dies, assuming that would be a shittier version.
We’ve already seen this play out when early influencers like Roger Ver disagreed with the community. Bitcoin kept on trucking while Ver’s alternative chain became irrelevant.
Bitcoin’s entire value stems from no one party controlling it. If whales could centralise decision-making by buying large portions, the whole experiment would fail. Thankfully, that’s impossible by design.
So, while Saylor provides a valuable perspective, his influence has limits. He cannot compel developers or miners or nodes to follow his preferred roadmap. His Bitcoin stack buys him a voice at the table, not absolute authority.
No matter how many satoshis Saylor accumulates, he cannot unilaterally impose changes on a decentralized, leaderless network. Bitcoin derives resilience precisely from preventing such dominance.
So enough with this bogus narrative that Michael Saylor is now Bitcoin’s dictator. He’s an influential figure, sure — but he doesn’t control Bitcoin’s fate any more than you or I do. That power remains dispersed.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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Bitcoin
Bitcoin Plunges Below $100K Despite Positive Coinbase Premium Signal – What’s Next?
Published
4 hours agoon
January 8, 2025By
adminBitcoin (BTC) has seen bullish but unsteady price action in early 2025, with recent data highlighting shifting sentiment among US investors. After briefly crossing the $102,000 mark yesterday, the asset has struggled to maintain upward momentum, shedding most of its recent gains as it stands at just below $100,000.
These developments coincide with critical insights from key on-chain metrics that offer a clearer view of Bitcoin’s short-term trajectory.
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Bitcoin’s Price Struggles Despite Positive Coinbase Premium Index Signal
A CryptoQuant analyst known as Burak Kesmeci recently shared insights on the Coinbase Premium Index (CPI), which turned positive for the first time in 2025. The CPI measures the price difference between Bitcoin on Coinbase and other global exchanges, serving as a crucial indicator of US investor sentiment.
3 days ago, Coinbase Premium Index crossed SMA14 for the 1st time in 26 days—Bitcoin is now up 4% to $102K.
In Nov 2024, a similar move saw Bitcoin rally from $69K to $108K.
U.S. buyers could be back in action. pic.twitter.com/XtAlHUzzvv
— CryptoQuant.com (@cryptoquant_com) January 6, 2025
Alongside this positive shift, a notable 4,012 BTC outflow from Coinbase was recorded, signaling renewed buying interest among US-based investors. Historically, such patterns have been associated with a rise in buying pressure, often laying the groundwork for potential price surges.
Despite these positive signals, Bitcoin’s price performance remains restrained. After briefly surpassing $102,000 on December 6, Bitcoin retreated and now trades below $100,000, reflecting a modest 3.3% decrease over the past 24 hours.
This price mark from the largest cryptocurrency by market capitalization puts it at approximately 8.9% below its all-time high of $108,135, achieved in December 2024.
Bitcoin Faces Key Resistance Levels
Notably, the current price action from BTC suggests that while buying pressure exists, it may not yet be sufficient to trigger another strong rally.
According to cryptocurrency analyst Ali, Bitcoin maintains a critical support zone between $95,400 and $98,400, where over 1.77 million addresses collectively hold 1.53 million BTC.
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This support zone remains essential for stabilizing Bitcoin’s price amid market uncertainty. Conversely, resistance appears limited, with only 107,000 BTC supply positioned between $104,700 and $105,770. This relatively thin resistance could pave the way for upward movement if buying pressure intensifies.
#Bitcoin sits well above an important support zone between $95,400 and $98,400, where 1.77 million addresses bought over 1.53 million $BTC. However, there isn’t significant resistance ahead, only a minimal supply wall of 107,000 #BTC between $104,700 and $105,770. pic.twitter.com/MEATFegTV2
— Ali (@ali_charts) January 7, 2025
Meanwhile, zooming out, analysts remain bullish overall on Bitcoin. Captain Faibik for instance has recently shared his outlook on BTC suggesting that the asset is still poised for a rally to $112,000.
Featured image created with DALL-E, Chart from TradingView
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Bitcoin
Meet Jason Marquez: The Truck Driver Who made $750,000 on MicroStrategy
Published
13 hours agoon
January 8, 2025By
adminThis week, I stumbled across one of the coolest posts I’ve seen in a while – Jason Marquez, who says he is “just a Truck Driver that loves listening to Michael Saylor on YouTube,” revealed he has profited massively from listening to the advice of the MicroStrategy Executive Chairman.
According to Marquez, he invested big in Saylor’s bold Bitcoin bet, and now holds $866,000 worth of $MSTR stock, at an average cost of $46 per share — a profit of over $750,000.
I'm just a Truck Driver that loves listening to @saylor videos on YouTube while I'm driving. $MSTR pic.twitter.com/A8DwclhUNx
— Jason Marquez (@jasnmrquez) January 3, 2025
After watching the collapse of Sam Bankman-Fried and FTX in 2022, Marquez says he got scared out of the market and “went all in on Saylor” because he considered that to be the safest bet. This wasn’t Marquez’s first time seeing money in crypto evaporate, and has said that he got burned on a hack in 2018. After that, he did not feel safe holding any crypto, including bitcoin.
This is the reality for many people in trying to navigate this Wild West industry. Losing money in hacks and exchange collapses is not fun, and it can easily turn people off from wanting to buy and hold bitcoin on their own. I can totally see why Marquez would have rather invested in a stock that is heavily accumulating bitcoin after witnessing these hacks.
Luckily, after getting more comfortable in this space, Marquez says he feels he has enough MSTR and his next move is to DCA into bitcoin. I applaud him because this is the smart move to make because actually owning the keys to your bitcoin in cold storage is the best thing to own in the end, as all fiat trends to $0 against bitcoin over time.
Regardless, at this point in time, Marquez is a soon to be millionaire off of this one stock trade alone, and is well set financially because of it. He put in the work to learn about Bitcoin and the potential of MicroStrategy’s BTC accumulation plan, executed a plan of action, took his own hard earned money to invest in the stock, and profited big.
Update on my post from Yesterday. Up more $ today than I make in a year Truck Driving. pic.twitter.com/vkme600mCI
— Jason Marquez (@jasnmrquez) January 3, 2025
This is a legendary bear market story to be told in years to come. It reminds of the story of when American HODL sold his car to buy more bitcoin, riding a moped until bitcoin went higher.
As for me, I refused to get my car fixed. I would jimmy rig it on and off with a screw driver, just so I could stack cheap bitcoin and fix the vehicle later at a higher bitcoin price. Marquez’s story is yet another awesome example of an everyday person taking advantage of the opportunities in Bitcoin and translating that into a massive life upgrade. His trade earned him more money in one day than he makes in a year truck driving. Think about that.
Hats off to you sir, well done. And good luck to you now accumulating bitcoin!
Update on my post from Yesterday. Up more $ today than I make in a year Truck Driving. pic.twitter.com/vkme600mCI
— Jason Marquez (@jasnmrquez) January 3, 2025
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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Bitcoin
Bitcoin Layer 2 Foundations Should Buy Bitcoin For Their Treasuries
Published
17 hours agoon
January 7, 2025By
adminI’ve been thinking about this a lot lately: Bitcoin Layer 2 foundations need to start holding bitcoin in their treasuries. It makes too much sense for them not to.
And apparently I’m not the only one.
As someone who’s watched this space evolve, let me explain why Bitcoin Layer 2 foundations should listen to Molly and I.
For years, bitcoin was known as “digital rock”—a solid store of value but not much else. But now with the explosion of Bitcoin Layer 2s, bitcoin is becoming a “programmable rock.” These layers are adding functionalities like smart contracts and scaling solutions, making bitcoin more versatile than ever.
But here’s the thing: these projects raise millions of dollars from VCs and investors, and most of that money ends up sitting in fiat currencies like USD. That’s a huge mistake.
Why? Because fiat is a melting ice cube. Every year, it loses 5-10% of its value due to inflation. The longer you hold it, the less it’s worth. On the other hand, bitcoin has a Compound Annual Growth Rate (CAGR) of around 70%. If these foundations held their treasury in bitcoin instead of fiat, their runway wouldn’t just stay the same—it would grow.
Imagine having 70% more resources each year to fund developers, grants, and projects. That’s the kind of edge that could make or break a Layer 2 ecosystem.
Okay, okay, I get it — Bitcoin is volatile, and these foundations need some stability. Because of this, keeping 3 to 4 years of runway in fiat makes sense. It would help to cover short-term needs. But the rest? It should be in bitcoin. Over the long run, this strategy could double or even triple the runway of these foundations, giving them the time and resources they need to succeed.
There’s a precedent for this too. Remember EOS? They raised $4.2 billion in 2018 and reportedly bought 164,000 bitcoin with it. Today, that bitcoin is worth around $16 billion—even though EOS itself fell off the map. Now, imagine if Bitcoin Layer 2 foundations did the same but actually used their bitcoin to grow and sustain their ecosystem. The potential is massive.
At the end of the day, these foundations are building on Bitcoin. They believe in its future, so why not hold it in their treasuries? Bitcoin is the best store of value out there. If you’re running a Bitcoin Layer 2 foundation, stop holding depreciating fiat, and start holding bitcoin. It’s not just a smart move—it’s the move.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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