"Bitcoin stabilizes capital" — quoting ChatGPT. Meanwhile in reality, Bitcoin ETF investors are underwater, mining costs exceed the price, and corporate treasuries are sitting on billions in unrealized losses. The theoretical elegance of fixed supply meets the practical reality: who's making money here? The people selling the thesis, not the people buying the coin. Where are the customers' yachts? https://www.mecrankyoldguy.com/p/bitcoin-in-your-401k-where-are-the
"Bitcoin stabilizes capital" — quoting ChatGPT. Meanwhile in reality, Bitcoin ETF investors are underwater, mining costs exceed the price, and corporate treasuries are sitting on billions in unrealized losses. The theoretical elegance of fixed supply meets the practical reality: who's making money here? The people selling the thesis, not the people buying the coin. Where are the customers' yachts? https://www.mecrankyoldguy.com/p/bitcoin-in-your-401k-where-are-the
Interesting article.
https://jinlow.substack.com/p/bitcoin-price-analysis-2026-the-geopolitical
I was wondering about this...makes sense!