Hello Humble Bitcoiners!
Get ready for your daily dose of Bitcoin signal! |
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📝 Today's Rundown - Margin Call?: Michael Saylor took to Twitter to assure investors that MicroStrategy’s balance sheet is well-positioned to avoid a margin call in its bitcoin-backed loan.
- Texas & Mining: A combination of energy infrastructure, favorable policy and unique incentives is making Texas the Bitcoin mining capital of the U.S.
- A Scamming Industry: These days, startups chase VC fiat and high valuations by attracting newly-printed money but without delivering value. Bitcoin fixes this.
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MicroStrategy CEO Sheds Margin Call Woes As Bitcoin Nears $21,000
By Shawn Amick Bitcoiners have been keeping track of MicroStrategy movements since they purchased Bitcoin for the first time back in August 2020, when the company decided to accumulate strongly. Going so far as to acquire a $205 million bitcoin-backed loan from Silvergate Bank in March 2022.
Naturally, as the price sinks under $21,000, people have been wondering if there is a risk of the company undergoing liquidation.
Michael Saylor, the CEO of MicroStrategy, took to Twitter to assure investors that the company is well-positioned to not have to sell its bitcoin.
“When MicroStrategy adopted a #Bitcoin Strategy, it anticipated volatility and structured its balance sheet so that it could continue to #HODL through adversity" – Michael Saylor |
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Why Bitcoin Mining Is Taking Off In The Lone Star State
By Ryan Dusek While Bitcoin mining has been criticized for being energy-intensive, Texas Governor Greg Abbott, among others, views Bitcoin mining as a solution to other related issues, such as taking advantage of untapped energy, including natural gas (such as surplus gas or associated gas) that would otherwise be flared or vented because of limited infrastructure to transport it to a destination.
Apart from that, Texas is a great choice for miners and has already become a major participant in the industry with the fourth-highest hashrate because: - The state’s energy infrastructure allows for access to cheap power from its deregulated power market;
- Its growing energy source mix from renewables, particularly wind energy; and
- Its supportive policy and backing by policymakers
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Bitcoin SongSheet: Like Altcoins, Startups Are New Money Magnets
By Jimmy Song The Bitcoin SongSheet series is back with more controversial but substantiated opinions about our decaying society. In this chapter, Jimmy Song, Bitcoin educator, developer, entrepreneur and The Bitcoin Magazine contributor, explains how the fiat system and its manipulative nature has managed to stop technological development and innovation by transforming startups into speculative money magnets.
Profit and dividends have become secondary to the startup’s narrative because attracting newly printed dollars in an uncapped monetary system is much easier. The game is not about providing better goods or services anymore but to create hype since something popular will attract more printed money than something profitable.
The good news is that with Bitcoin, we have hard money again. Once money is scarce, all these speculative games won’t be so appealing and we might experience true innovation and progress again. |
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 | | TUNE IN to our 100th episode for news & notes with: Q, P, and Chris |
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By Tyrone Baggums
If you are holding your own keys, you are only exposed to the volatility, but not losing your keys. The price moves up and down on a strong volatile manner, but it is precisely due to this volatility, that we in turn can experience massive appreciation.
Just stay humble, stack sats, and keep going.
With love,
Bam |
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Today's email was brought to you with ♥ by Bam.
Keep on reading, keep on stacking. |
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