Merry Christmas, Nostr friends

Proof of steak. Tonight, a wagyu strip

Pump the TFTC quarterly liquidity update with @Marty Bent and @Matthew Mezinskis directly into my veins. One of my favorite podcasts every quarter. Thanks for the quality content guys

Had a BTC $100k celebratory steak dinner tonight with a friend and two other “crypto guys” he knew. Here was the breakdown: - friend: career day trader, bought bitcoin at $300 and made $1M selling it, has been trading ever since. Rolled initial return into a “blockchain fund” and holds all current Bitcoin at Coinbase and the ETFs - guy 1: similar story, has “no idea” why anyone values bitcoin at $100k+ - guy 3: holds a large MSTR position only, no Bitcoin Reminded me how early we still are. 4 people celebrating $100k Bitcoin and only one actually holds any Bitcoin. The other 3 guys have net worths well over $10M each.

I get increasingly uncomfortable with these MSTR weekly buys. On one hand, coins are moving from weak hands to strong hands, which should strain future supply. On the other hand, it supports the feeling that a couple of buyers are propping up Bitcoin at these prices. And I can’t help but focus on the increasing counterparty risk with Coinbase. Not only with MSTR, but also nearly all of the ETFs. Hope I’m wrong. But I’m stacking sats carefully and resisting the “greed mindset.”