9-2-2025
- Bitcoin long-term holders sold 97K BTC in a single day.
- Meta Planet plans to acquire 210K BTC using preferred equity offerings.
- Strategy issued more Strike, Strife, and Stride preferred shares to fund BTC buys.
- El Salvador redistributed its Bitcoin citing quantum computing concerns.
- HKU Business School will accept Bitcoin for tuition.
The New Normal Ain’t Normal Yet
Bitcoin is above $100K. Again. And long-term holders (folks who’ve been sitting tight for over 155 days) sold 97,000 BTC in a single day. That’s a $3 billion offload. It’s the biggest sell-side pressure of the year, and it tells you one thing: people still don’t believe. Not really. Not at six figures. Not when brisket’s $75 and the world feels like it’s fraying at the edges. It's simply the psychology of disbelief. People don’t yet see $100K as normal, so they’re cashing in chips. Until that changes, we’re in for chopsolidation: sideways movement with enough volatility to chew up anybody still trying to time tops and bottoms.
Meanwhile, Meta Planet stepped to the mic in Tokyo with a plan to buy 210,000 Bitcoin by 2027. They’re rolling out perpetual preferred stock to do it; a page straight from Saylor’s playbook. Class A gets you 5% yield, low risk, no convertibility. Class B is spicier. It's convertible to common stock so higher risk with potentially higher upside. They’re borrowing like a sovereign state and doing it with Japan’s rock-bottom interest rates. That’s phase two of the Bitcoin treasury playbook: start with cash, move to equity dilution, then build structured products that print capital. It’s not as innovative as it sounds. Governments have done this forever, only now it’s private companies doing it with Bitcoin as the endgame. Be careful with this stuff, folks.
And Strategy is still printing. They’ve relaxed their 2.5x NAV rule and now issue equity even when the premium is thin. Investors don’t love it, but they’re not stopping him either. Saylor’s running the same flywheel: print equity, issue preferreds (Strike, Strife, Stride), raise capital, buy more Bitcoin. It’s not complicated but it is dilutive to common shareholders of MSTR.
El Salvador’s Bitcoin office made a move to redistribute their national BTC stash across new addresses. They say it’s about quantum security. That’s not wrong in theory, but the technical explanation they gave was shaky. Public keys are exposed the minute you transact. Splitting funds into smaller pots doesn’t change that. So either they don’t fully understand, or they’re hoping you won’t notice. Either way, the quantum threat isn’t here yet. Not really. But it’s always worth watching how governments treat their holdings. Especially when the IMF’s breathing down their neck.
And then there’s the University of Hong Kong’s business school. They’re prepping to accept Bitcoin for tuition and donations. No timeline yet, but the intent is clear. As the U.S. higher ed system staggers into its own demographic collapse, Asia’s top-ranked business school is moving toward real-world Bitcoin integration. Fun, innit?
On another note entirely . . .
Cattle prices at the sale barn are the highest they’ve ever been, but the global herd is the smallest it’s been since we started keeping records. That's a big red flag. High prices with low supply doesn’t mean we’re doing well. The system is cracking. When ranchers are cashing in animals just to stay afloat, we’re not building anything, certainly not the herd size. We’re eating the seed stock. Nature doesn’t tolerate vacuums, and neither does food production. If you want beef in ten years, go find a rancher now, shake their hand, and help them stay in business.
Circle P Vendor of the Day: GreatGhee
Ghee: it’s butter, but better. Golden, nutty, shelf-stable, and tough enough to handle 485°F without breaking a sweat. Cook with it, bake with it, moisturize your elbows.
Tell 'em BITCOINAND sent you.
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