Just released my conversation with Mexican billionaire and Bitcoin bull Ricardo Salinas.
YT:
We cover:
-His new book The Bitcoin Enlightenment
-His relationship with Michael Saylor and the mutual respect they have for each other
-Why he does NOT follow Strategy‘s playbook with his firms
-If Bitcoin advocacy has hurt his business
-What defines a great entrepreneur
-Why money isn’t everything
-And more
Pascal Hügli
pascal@primal.net
npub1qhx7...04l8
Mentally retired, financially semi-retired, professionally: only just starting 🚀 Book author: in English&German: http://kryptobu.ch
Bitcoin about to put in a double top?
Since its all-time high of $111k, Bitcoin has corrected about 6% to $105k. After hovering at this level for several days, some investors are now concerned we could be seeing the formation of another double top, similar to 2021. Frankly, I expected Bitcoin to push higher after breaking its all-time high in May. The reason it hasn’t is mainly because the demand side looks weak.
For one, ETF inflows have stalled, even turning negative by nearly $1 billion in late May and early June. Strategy also appears to be struggling to attract fresh capital, having purchased only 705 BTC on June 2.
On-chain dynamics show that coins held for 3 to 5 years — amounts comparable to local tops in March and November 2024 — are being sold into the market. The inability to absorb these coins at all-time-high prices suggests demand is fading.
From a sentiment perspective, last week’s Bitcoin conference felt like a potential top signal; watching the livestream gave me the impression that the enthusiasm from Bitcoin Treasury companies might be at a peak level.
The upcoming Circle IPO is another example: targeting a fully diluted valuation of up to $7.2 billion, the upcoming IPO is said to be oversuscribed by 25x. If this doesn’t give you late-cycle vibes, I don‘t know what will.
Finally, leverage remains elevated, as seen in futures volume, signaling that many investors are still positioned for immediate upside. Although this has eased somewhat since the all-time high, it’s still not non-negligible.
So, where do we stand? A week ago, I speculated that BTC would go to $120k fairly fast. I remain cautiously bullish in the short term, particularly as long as we hold above the short-term holder cost basis at $97k. Should we fall below that level, market psychology could take a real hit and things would have to be seriously assessed.
To stay above it, we’ll need to see fresh demand step in. If we dip lower in the coming days, I’d expect the first meaningful demand and support zone to appear around $99k.
Thoughts?
We are truly honored that @Lyn Alden has read our new book ‘The Bitcoin Enlightenment’ and shared such a thoughtful and generous praise.
Thank you, Lyn. I think I speak in the name of the entire industry, when I say:
Your work is inspiring countless people in this space — ourselves included — and we’re deeply grateful to have you.
Get your copy of the book now:

The Bitcoin Enlightenment: Hardcover | Dr. Saifedean Ammous

After months of anticipation, I’m thrilled to announce that our new book is finally here.
The Bitcoin Enlightenment is our magnum opus — a tribute to the #Bitcoin community and a deep dive into its transformative potential.
Here are only a few unique selling points the book offers:
➡️ An exclusive look into the family history of Mexican billionaire and Bitcoin advocate Ricardo B. Salinas
➡️A coherent, fact-based account of humanity’s fall from monetary grace
➡️A unique historical deep dive into the founding of the world’s first central bank (BoE) and the rise of government bond markets
➡️How fiat money places an especially heavy burden on younger generations
➡️Why CBDCs and MMT represent the endgame of the fiat system
➡️An assessment of the striking parallels between Bitcoin and the Reformation
➡️A forward-looking exploration of what a bitcoinized world might look like
I am beyond grateful to have had this opportunity!
Thanks for all the help, words of encouragement and general support! Also to @Saifedean Ammous and team
Order the book now (and if you do, thanks for leaving a review 👏 🙏)
amzn.eu/d/7o1cqzT


Why is $97k the "magical number" in Bitcoinland for now.
It's got to do with Strategy's goal to qualify for the S&P 500.
To qualify for the S&P 500, a company must meet several criteria, including:
-Market Capitalization: At least ~$14.5 billion.
-Profitability: Positive GAAP earnings over the last four quarters (with the most recent quarter also being positive).
-Public Float: At least 10% of shares must be publicly available.
-Liquidity & Sector Classification: Sufficient trading volume and being in an eligible sector.
Srategy is meeting all of them, except for the profitability metric.
Why the FASB Rule Change Matters: Before Q1 2025, companies had to report Bitcoin under old accounting rules that only allowed for impairment losses (but not unrealized gains). The new FASB rules (effective in Q1 2025) allow fair value accounting, meaning unrealized BTC gains count towards GAAP earnings. This helps profitability, a key S&P 500 requirement.
So know. In light of some back-of-the-envelope calculation, we can state:
An end of quarter close (March 31, 2025) with BTC at ≈ $96.5K keeps pre-Q1 holdings profitable but barely offsets Q1 losses.
An end of quarter close with BTC at ≈ $97K ensures positive Q1 net income under FASB, increasing S&P 500 eligibility.
An end of quarter close with BTC > $100K creates a much stronger profitability case, reducing uncertainty.
So yes, $97K BTC is the real "safe" threshold right now. Should we move anywhere near this price level towards the end of March, things could become very interesting. Once the profitability threshold is met and eligibility for SPY inclusion increases, we should expect a lot of front-running (in MSTR) from market participants.
This situation is obviously highly reflexive.. Well, I guess, we are here and ready for it 😁🔥
Some thoughts on the SBR announcement
-> The U.S. officially labels Bitcoin a strategic asset. This is quite big, confirming Bitcoin’s significant geoeconomic and geopolitical role
-> Expect to see more 13F filings by sovereign wealth funds
-> Sovereign and supranational bodies (like IMF) will have a harder time justifying anti-bitcoin policies
-> The probability that individual states in the U.S. will put bitcoin on their balance sheets just increased
-> Should individual states own Bitcoin, the probability that the US congress agrees to something like the Lummis Bitcoin bill (buying up to 1 million BTC over 5 years) increases as well
However: Labelling Bitcoin as strategic does have its downsides though
-> The establishment of a SBR is a “careful what you wish for”-moment
-> High likelihood the US will approach Bitcoin the same way they approach oil, gold, or critical infrastructure, meaning they will seek control, influence, and risk management over its supply and stability
-> In times of severe crises, we could see government commandeer or nationalize bitcoin miners. Or assume legal authority to aggressively seize private BTC holdings out of national interest
-> With Bitcoin being deemed strategic, centralizing forces around supply, custody, mining and development will intensify (Bessent already called for bringing crypto on shore)
-> If you understand the thinking of nation states around financial rails, labeling Bitcoin as strategic does not solely mean the government will buy bitcoin but lead to “oh we should control this network”
->There’s the risk that the US gov will not want to leave further Bitcoin protocol development to chance. Imagine a scenario where an army of NIST engineers, backed by virtually unlimited funding, suddenly steps in to influence or direct its evolution.
Remember, both the Secretary of Treasury (Bessent) and Commerce (Lutnick) have held Bitcoin in the past and understand its significance.
What is widely missed but hidden in the EO document called “Presidential Actions” (not the Factsheet broadly shared), is: “The Secretary of the Treasury and the Secretary of Commerce SHALL develop strategies for acquiring additional Government BTC…”
So, the actual text of the EO directs them to develop strategies to buy Bitcoin. This is very bullish price if you ask me.
There are many budget neutral strategies for acquiring Bitcoin.
-> Use USD surplus in Exchange Stabiliation Fund (ESF), netting to $39B
-> Revalue gold holdings, netting to about $800B
-> Demand IMF to include BTC in SDR or sell SDR for BTC
-> Issuing Bitcoin Bonds (Bit Bonds) -> Best option IMO, will examine in a future LNMS episode
-> Sell holdings from strategic cheese reserve held in Missouri caves, netting to about $3B (btw, hope this is Swiss cheese the US gov is holding. Every other cheese is shitcoin cheese)
-> Use tariffs proceeds to buy Bitcoin
-> Use DOGE savings?


New US Treasury Secretary Scott Bessent recently said:
“𝑊𝑒'𝑟𝑒 𝑔𝑜𝑖𝑛𝑔 𝑡𝑜 𝑚𝑜𝑛𝑒𝑡𝑖𝑧𝑒 𝑡ℎ𝑒 𝑎𝑠𝑠𝑒𝑡 𝑠𝑖𝑑𝑒 𝑜𝑓 𝑡ℎ𝑒 𝑈𝑆 𝑏𝑎𝑙𝑎𝑛𝑐𝑒 𝑠ℎ𝑒𝑒𝑡 𝑓𝑜𝑟 𝑡ℎ𝑒 𝐴𝑚𝑒𝑟𝑖𝑐𝑎𝑛 𝑝𝑒𝑜𝑝𝑙𝑒. 𝑊𝑒 𝑎𝑟𝑒 𝑔𝑜𝑖𝑛𝑔 𝑡𝑜 𝑝𝑢𝑡 𝑡ℎ𝑒 𝑎𝑠𝑠𝑒𝑡𝑠 𝑡𝑜 𝑤𝑜𝑟𝑘, 𝑎𝑛𝑑 𝐼 𝑡ℎ𝑖𝑛𝑘 𝑖𝑡'𝑠 𝑔𝑜𝑖𝑛𝑔 𝑡𝑜 𝑏𝑒 𝑣𝑒𝑟𝑦 𝑒𝑥𝑐𝑖𝑡𝑖𝑛𝑔.”
CT is still wondering what Bessent meant by this.
Here’s one (likely) interpretation:
𝗠𝗼𝗿𝗲 𝗔𝘀𝘀𝗲𝘁𝘀 (𝗦𝘁𝘂𝗳𝗳 𝘁𝗵𝗲 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗢𝘄𝗻𝘀):
The US government (US Treasury) owns a lot of gold. Think of the US Treasury like the government’s bank account.
Revaluing this gold to today’s market price would increase the US Treasury’s assets.
The US Treasury currently holds 261,498,926.241 troy ounces of gold, equivalent to approximately 8,134 tons. At today’s market price of $2,900 per troy ounce, the total value amounts to around $758 billion.
However, this gold is still recorded at a book value of $42 per troy ounce, totaling just $11 billion. This means the market value is nearly 68 times higher than the official book value.
By revaluing its gold reserves to reflect current market value, the government would instantly recognize an additional $747 billion in assets—effectively realizing a substantial increase in its wealth without selling a single ounce of gold.
𝗠𝗼𝗿𝗲 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀 (𝗪𝗵𝗮𝘁 𝘁𝗵𝗲 𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁 𝗢𝘄𝗲𝘀):
To balance this out, the government issues "gold certificates" (fancy IOUs backed by gold) to the Federal Reserve (the US central bank).
These certificates tell the Fed: “Hey, we now officially say our gold is worth more. Here’s proof you can use to balance your books.”
𝗠𝗼𝗿𝗲 𝗔𝘀𝘀𝗲𝘁𝘀 (𝗩𝗮𝗹𝘂𝗮𝗯𝗹𝗲 𝗦𝘁𝘂𝗳𝗳 𝗼𝗻 𝘁𝗵𝗲 𝗙𝗲𝗱’𝘀 𝗕𝗮𝗹𝗮𝗻𝗰𝗲 𝗦𝗵𝗲𝗲𝘁):
The Fed receives those new gold certificates from the Treasury.
These certificates increase the Fed’s assets because they represent valuable claims backed by US gold.
𝗠𝗼𝗿𝗲 𝗟𝗶𝗮𝗯𝗶𝗹𝗶𝘁𝗶𝗲𝘀 (𝗠𝗼𝗻𝗲𝘆 𝗢𝘄𝗲𝗱 𝗯𝘆 𝘁𝗵𝗲 𝗙𝗲𝗱):
Here’s where it gets interesting: the Fed, in return, credits the US Treasury’s checking account (called the Treasury General Account, or TGA) with new money equal to the increased value of the gold.
The Treasury can now spend this newly credited money on public projects, debt repayment, or stimulus—without borrowing or raising taxes.
𝗛𝗼𝘄 𝗧𝗵𝗶𝘀 𝗜𝘀 𝗟𝗶𝗸𝗲 "𝗦𝗲𝗰𝗿𝗲𝘁" 𝗤𝘂𝗮𝗻𝘁𝗶𝘁𝗮𝘁𝗶𝘃𝗲 𝗘𝗮𝘀𝗶𝗻𝗴 (𝗤𝗘):
Normally, the Fed prints money (QE) by buying bonds from the market to pump cash into the economy.
But in this case, the Fed is not buying anything from the public. Instead, it’s crediting the Treasury’s account simply because the gold is now valued higher.
Result: The Treasury now has more cash to spend, similar to QE, but without the Fed purchasing assets from banks or investors.
In a recent interview with Bloomberg, Nic Carter calls for a $900k Bitcoin price, while denouncing the idea of a strategic bitcoin reserve happening.
How does this add up, you ask?
Well, Nic didn't have time to argue this but I think he’d agree that the growing entrenchment of stablecoins will make this inevitable.
Legalizing stablecoins in the US will open the door for more institutions to get involved, likely tripling the stablecoin market cap in no time.
As the stablecoin market cap expands, issuers will need to soak up more US Treasuries to back their stables. This demand will be met by increased Treasury issuance from the US government. And more US debt isissuance will lead to more monetary inflation down the line, which will primarily benefit Bitcoin's price.
This is the Bitcoin-Stablecoin-Flywheel-Effect that might very well take Bitcoin to $900k and beyond, given enough time.
See the chart below from a class I regularly teach 👇🏻


𝗧𝗵𝗲 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗠𝘂𝗿𝗱𝗲𝗿 𝗼𝗳 𝗚𝗼𝗱 – 𝗮𝘀 𝗽𝗿𝗲𝘃𝗮𝗹𝗲𝗻𝘁 𝗮𝘀 𝗲𝘃𝗲𝗿
By now, you’ve likely heard about Pump.fun‘s notorious live-streaming feature, which spiraled out of control and showcased some of humanity's worst behavior before being banned now.
Or perhaps you’ve come across the story of the infamous banana duct-taped to a wall, originally priced at $120,000, which recently sold as a piece of art for an astonishing $6.2 million. The buyer? None other than His Excellency, Liberland’s Prime Minister, Justin Sun.
So, in the midst of this bull run you are questioning “our” industry’s assumptions again. 𝗪𝗵𝘆? 𝗪𝗵𝘆 𝗶𝘀 𝘁𝗵𝗶𝘀 𝗵𝗮𝗽𝗽𝗲𝗻𝗶𝗻𝗴?
Well, let me tell you why all of this is happening by turning to the chad philosopher himself, Friedrich Nietzsche!
In 1882, the German philosopher famously declared, “God is dead!” This bold assertion captured the spirit of an era that would shape the 20th century and beyond. God, a symbol of truth and stability that grounded humanity's moral values, was now absent. The God of the Bible, who declared, “I am the Lord, and I change not,” was pronounced dead by those he created. In The Gay Science (1882), Nietzsche elaborated:
“𝑊ℎ𝑖𝑡ℎ𝑒𝑟 𝑖𝑠 𝐺𝑜𝑑? [...] 𝐼 𝑤𝑖𝑙𝑙 𝑡𝑒𝑙𝑙 𝑦𝑜𝑢! 𝑊𝑒 ℎ𝑎𝑣𝑒 𝑘𝑖𝑙𝑙𝑒𝑑 ℎ𝑖𝑚 – 𝑦𝑜𝑢 𝑎𝑛𝑑 𝐼! 𝐴𝑙𝑙 𝑜𝑓 𝑢𝑠 𝑎𝑟𝑒 ℎ𝑖𝑠 𝑚𝑢𝑟𝑑𝑒𝑟𝑒𝑟𝑠!”
The rise of science and reason ushered in a climate of relentless questioning, overturning beliefs that had been accepted for centuries. Western society, deeply rooted in Judeo-Christian principles, found itself shaken. As scientists proposed new theories about life, even the existence of God came under scrutiny. This shift had profound implications: without God, absolute truth seemed to vanish as well.
Through Nietzsche’s lens, the events of 1971, when national currencies were severed from the gold standard, appear as a logical extension of this worldview. Nietzsche observed that without God, humanity loses its anchor—a fixed measure of truth—and drifts aimlessly, lacking a compass. He vividly described this disorientation:
“𝐵𝑢𝑡 ℎ𝑜𝑤 ℎ𝑎𝑣𝑒 𝑤𝑒 𝑑𝑜𝑛𝑒 𝑡ℎ𝑖𝑠? 𝐻𝑜𝑤 𝑤𝑒𝑟𝑒 𝑤𝑒 𝑎𝑏𝑙𝑒 𝑡𝑜 𝑑𝑟𝑖𝑛𝑘 𝑢𝑝 𝑡ℎ𝑒 𝑠𝑒𝑎𝑠? 𝑊ℎ𝑜 𝑔𝑎𝑣𝑒 𝑢𝑠 𝑡ℎ𝑒 𝑠𝑝𝑜𝑛𝑔𝑒 𝑡𝑜 𝑤𝑖𝑝𝑒 𝑎𝑤𝑎𝑦 𝑡ℎ𝑒 𝑒𝑛𝑡𝑖𝑟𝑒 ℎ𝑜𝑟𝑖𝑧𝑜𝑛? 𝑊ℎ𝑎𝑡 𝑑𝑖𝑑 𝑤𝑒 𝑑𝑜 𝑤ℎ𝑒𝑛 𝑤𝑒 𝑢𝑛𝑐ℎ𝑎𝑖𝑛𝑒𝑑 𝑡ℎ𝑒 𝑒𝑎𝑟𝑡ℎ 𝑓𝑟𝑜𝑚 𝑖𝑡𝑠 𝑠𝑢𝑛? 𝑊ℎ𝑖𝑡ℎ𝑒𝑟 𝑖𝑠 𝑖𝑡 𝑚𝑜𝑣𝑖𝑛𝑔 𝑛𝑜𝑤? 𝑊ℎ𝑖𝑡ℎ𝑒𝑟 𝑎𝑟𝑒 𝑤𝑒 𝑚𝑜𝑣𝑖𝑛𝑔 𝑛𝑜𝑤? 𝐴𝑤𝑎𝑦 𝑓𝑟𝑜𝑚 𝑎𝑙𝑙 𝑠𝑢𝑛𝑠? 𝐴𝑟𝑒 𝑤𝑒 𝑛𝑜𝑡 𝑝𝑒𝑟𝑝𝑒𝑡𝑢𝑎𝑙𝑙𝑦 𝑓𝑎𝑙𝑙𝑖𝑛𝑔? 𝐵𝑎𝑐𝑘𝑤𝑎𝑟𝑑𝑠, 𝑠𝑖𝑑𝑒𝑤𝑎𝑟𝑑, 𝑓𝑜𝑟𝑤𝑎𝑟𝑑, 𝑖𝑛 𝑎𝑙𝑙 𝑑𝑖𝑟𝑒𝑐𝑡𝑖𝑜𝑛𝑠? 𝐼𝑠 𝑡ℎ𝑒𝑟𝑒 𝑎𝑛𝑦 𝑢𝑝 𝑜𝑟 𝑑𝑜𝑤𝑛 𝑙𝑒𝑓𝑡? 𝐴𝑟𝑒 𝑤𝑒 𝑛𝑜𝑡 𝑠𝑡𝑟𝑎𝑦𝑖𝑛𝑔 𝑎𝑠 𝑡ℎ𝑜𝑢𝑔ℎ 𝑡ℎ𝑟𝑜𝑢𝑔ℎ 𝑖𝑛𝑓𝑖𝑛𝑖𝑡𝑒 𝑛𝑜𝑡ℎ𝑖𝑛𝑔?”
Unshackling currency from gold mirrored this philosophical "murder of God." Once God was removed as the arbiter of spiritual truth, it was perhaps inevitable that the economic realm would follow suit. Without a single, immutable source of value in life, why should there be one in money? Why should society remain bound by gold—a metal beyond human manipulation—when it could instead create money over which it held complete control?
Nietzsche foresaw the profound consequences of such upheaval:
“𝐻𝑜𝑤 𝑠ℎ𝑎𝑙𝑙 𝑤𝑒 𝑐𝑜𝑚𝑓𝑜𝑟𝑡 𝑜𝑢𝑟𝑠𝑒𝑙𝑣𝑒𝑠, 𝑡ℎ𝑒 𝑚𝑢𝑟𝑑𝑒𝑟𝑒𝑟𝑠 𝑜𝑓 𝑚𝑢𝑟𝑑𝑒𝑟𝑒𝑟𝑠? [...] 𝑊ℎ𝑎𝑡 𝑓𝑒𝑠𝑡𝑖𝑣𝑎𝑙𝑠 𝑜𝑓 𝑎𝑡𝑜𝑛𝑒𝑚𝑒𝑛𝑡, 𝑤ℎ𝑎𝑡 𝑠𝑎𝑐𝑟𝑒𝑑 𝑔𝑎𝑚𝑒𝑠 𝑠ℎ𝑎𝑙𝑙 𝑤𝑒 ℎ𝑎𝑣𝑒 𝑡𝑜 𝑖𝑛𝑣𝑒𝑛𝑡? 𝐼𝑠 𝑛𝑜𝑡 𝑡ℎ𝑒 𝑔𝑟𝑒𝑎𝑡𝑛𝑒𝑠𝑠 𝑜𝑓 𝑡ℎ𝑖𝑠 𝑑𝑒𝑒𝑑 𝑡𝑜𝑜 𝑔𝑟𝑒𝑎𝑡 𝑓𝑜𝑟 𝑢𝑠? 𝑀𝑢𝑠𝑡 𝑤𝑒 𝑜𝑢𝑟𝑠𝑒𝑙𝑣𝑒𝑠 𝑛𝑜𝑡 𝑏𝑒𝑐𝑜𝑚𝑒 𝑔𝑜𝑑𝑠 𝑠𝑖𝑚𝑝𝑙𝑦 𝑡𝑜 𝑎𝑝𝑝𝑒𝑎𝑟 𝑤𝑜𝑟𝑡ℎ𝑦 𝑜𝑓 𝑖𝑡?”
By abandoning gold as the foundation of monetary value, the financial system lost its anchor to any stable truth, committing the economic death of go(l)d.
Currency, now unmoored from gold, moves in every direction—backward, sideways, forward—leaving us uncertain of its trajectory. In this post-gold era, we are left to grapple with the consequences of a system adrift, mirroring the philosophical turmoil Nietzsche so prophetically described.


If I want to host the most knowledgable person that can still explain what Nostr is and can do to normies, who should I bring on my podcast?
#nostr #bitcoin
Here‘s my latest interview with cypherpunk @Jameson Lopp
We talk about Bitcoin, what power Bitcoin core developers hold, what to be weary of and how to think about the risk of quantum computing to Bitcoin and its holders.
Check out the interview below 👇🏻🔥
And don‘t forget to like, comment and subscribe on YouTube 🙏💪🏻
#Bitcoin #Decentralization #Ossification #Governance #QuantumComputing #CoreDevelopers #InstitutionalInfluence #Cryptocurrency #SelfCustody #Blockchain
It gives me great joy that I was recently invited by @npub1s5yq...6q7z to his podcast.
Together with @Max Kei, we talked about:
-Why peer-to-peer lending is so important in the Bitcoin context
-How Swiss banks like are so advanced when it comes to Bitcoin
-Why, stablecoins will most definitely be adopted by traditional banks
- And how banks should be thinking about tokenizing all sorts of assets.
As someone who has been in the Bitcoin space for about 8 years 🕰️ and knows how real Bitcoiners truly think, I want to take this knowledge and contribute to the bank’s understanding of Bitcoin and Bitcoiners! 💡🏦
Here's our talk:
#Bitcoin #tokenization #digitalassets #peertopeer #lending #bitcoinbanks
Hello world! 🌍
The Cantonal Bank of Zurich is now offering its clients the option to invest in Bitcoin and Ethereum. 🚀 This marks yet another major step forward for the Swiss banking industry. Earlier this year, the third-largest bank, Post Finance, also introduced its own crypto offering.
It seems like only a matter of time before the two largest banks (looking at you, UBS 👀) will need to follow suit!
When it comes to Bitcoin and digital assets, Swiss banks are far ahead of their US counterparts. 🇨🇭 In the US, regulatory hurdles still prevent banks from fully engaging with Bitcoin.
Offering custody for digital assets like Bitcoin involves significant costs due to the capital backing required (thanks to Basel III regulations 💰).
However, in Switzerland, thanks to changes in Swiss law and banking regulations, banks can separate digital assets from their balance sheets. This allows them to offer true custody accounts, ensuring that assets belong to the client. By law, these assets are fully segregated from the bank's estate during bankruptcy and are returned to the client. 🔐✅
At Archip Maerki Baumann, this is why we're able to offer a segregated wallet for each of our clients holding Bitcoin with us.
As I understand it, something similar is possible in Wyoming 🇺🇸, thanks to the efforts of @Caitlin Long and others, but it's still rare in most of the United States.
#Bitcoin #Crypto #DigitalAssets #SwissBanking #FinancialInnovation


Treasury bill, or short-term US debt paper, has historically ranged between 15% and 20%. In recent months, this percentage of T-bill of total US debt has broken above 20% and it might well be on it‘s way to 25% (or even higher).
As institutions like pension funds are starved from getting long-dates securities, other have been buying the short end. Who? Banks, credit providers as well as the infamous US stablecoiner provider Tether.
Why is this significant?
This is covet yield curve control or yield supression because it supresses the long-end of the curve.
As a matter of fact, the yield of long-dated treasuries should actually be higher, about 100 basis points by conservative estimates.
The question we need to ask is how will the US get investors back into long-dated treasuries?
-Bring down short-term policy rates (significantly) to make long-end debt more attractive.
-Push for a recession to create save haven demand for long-term treasuries (beat steepener). Rather improbable, no?
-Go new ways. For example, as @npub1s5yq...6q7z has explained, what if the US Treasuries were to back long-dated bonds with a Bitcoin component. Could this be enticing enough for regular investors to buy into long-end Treasuries?
About to go live with @npub1s5yq...6q7z and @Max Kei to talk about Bitcoin, pristine collateral, peer-to-perr lending, pitching Bitcoin to boomers and more.
Super Stoked!😎🏋️
Am I the first #banker to have joined #nostr?
If so, don‘t worry. I come in peace. And for tumhe record: I do understand Bitcoin, I do hold my own keys, I do run my own node!
And there will be more of us
#Bitcoin #BitcoinBanking
I had an amazing time in Riga at #BH2024!
Huge thanks to @Max Kei and the team for giving me the opportunity to present on how we’re pitching Bitcoin to boomers at Maerki Baumann.
There's still a long way to go, but Bitcoin’s favorablr risk/return ratio will do the trick, and more money managers will start adding #BTC to their clients' portfolios. A 10% performance boost with just a 2% allocation to BTC will be hard to ignore!
A special shoutout to @npub1s5yq...6q7z for the insightful conversations about how traditional banks that embrace Bitcoin will ultimately lead the pack. Again, there’s still plenty of work to do—like educating them on how Bitcoiners actually think (low-time preference, full custodial transparency, etc.) and showing that peer-to-peer lending is the future, instead of adding unnecessary risks by tranching collateral. 
