8-1-2025
This week, Strategy stunned markets with a 46,671% earnings beat fueled by Bitcoin. Ray Dalio exited Bridgewater sounding debt alarms again. El Salvador leaned authoritarian. Meanwhile, Anchorage and Coinbase stacked serious BTC—even as the price dipped.
I don’t think I’ve ever seen anything like Strategy’s earnings call. A 46,000% earnings-per-share beat doesn’t even sound real, yet here we are. When you tie your capital structure to Bitcoin and get out of the fiat savings trap, this is what happens. Strategy is rewriting the corporate treasury playbook in real time. Saylor is siphoning fiat demand into Bitcoin reserves and converting liabilities into something useful. Wall Street still hasn’t priced this in, and that's the weirdest part. They're trading like a software firm with a Bitcoin strategy instead of the other way around. That’ll change.
https://bitcoinmagazine.com/news/strategy-eps-beat-bitcoin-treasury
Ray Dalio. The guy who predicted the 2008 meltdown finally sold off his last stake in Bridgewater. He’s walking away from the firm he started fifty years ago, but he’s not quiet about what comes next. He’s shouting about global debt collapse and loudly pointing people toward gold and Bitcoin. Now, I’ve said this before—I don’t worship at the altar of market oracles. Dalio’s made some bad calls. But it’s telling that someone with his history is pulling the ripcord on fiat exposure and telling people to stack harder assets. He may not be all-in Bitcoin, but his signal is like a lighthouse in a storm.
https://cointelegraph.com/news/ray-dalio-sells-last-bridgewater-stake-debt-collapse-prediction
El Salvador’s signal, though, just got cloudy. Bukele pushed through constitutional reforms that allow indefinite presidential reelection. That’s not nothing. I like what he’s done economically. The Bitcoin Law, the tourism turnaround, the reduction in crime—those are real wins. But turning yourself into a de facto emperor? That’s a problem. We’ve seen this movie. You don’t strengthen a republic by concentrating power. And if the IMF loan is the carrot that led to all this, then we need to rethink who’s holding the leash. Bitcoin in El Salvador was supposed to be about independence. This ain’t it.
On the other side of the spectrum, institutions are still quietly stacking Bitcoin in size. Anchorage Digital grabbed 10,000 BTC in one day. That’s a billion-dollar move from a federally chartered crypto bank, and they did it off-market. Coinbase got back into the top ten public treasuries with a 2,500 BTC buy of their own. All this is happening while Bitcoin’s price grinds sideways and everyone whines about weakness. Maybe it is late cycle behavior. Or maybe we’re just watching a different kind of bull market unfold—one that doesn't need price to scream every time a whale moves.
https://decrypt.co/333132/metaplanet-plans-3-7b-stock-raise-to-fuel-massive-bitcoin-buying-spree
I don’t have price predictions. One Bitcoin equals one Bitcoin. That’s it. But I do keep an eye on what companies are doing, not what they’re saying. Meta Planet in Japan is raising $3.7 billion to chase 210,000 BTC. They’re structuring preferred shares in a Strategy replication scheme showing that the playbook is already spreading. Fiat is still the language of capital markets, but more and more, Bitcoin is the strategy. Whether it’s anchoring a treasury, shielding against sovereign debt collapse, or forcing legacy players to evolve, the signal’s coming through loud. You just have to stop watching the price and start watching the behavior.
Daniel Prince's Once Bitten! Podcast
If you’re not listening to my good friend Daniel’s Once Bitten podcast, you’re missing out. I’ve been on the show twice and I’d do it again in a heartbeat. Daniel asks the right questions and brings a kind of energy that’s rare in Bitcoin media. Add it to your rotation. You won’t regret it
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