The nonsense continues on all fronts

We gotta keep shitting on the scum, lesssgo (#1425033, #1425619). (They're also reporting earnings today, so that'll be fun to watch... see them pretend bullishness/cognitive dissonance in the face of total disaster.)

ICYMI: And yes, the worthless orange crap keeps showing its worthlessness. Makes sense; one of the ways Strategy could fail, which we've said from the very beginning, is if bitcoin fails -- and it's trying hard.

I really wonder what it feels like to burn 300 mil (NAKA) or closer to 5 billion(!) in Strategy's case. My god, what a lousy, needless gambit. Why don't people just go build something real instead? Financialization is a curse (#1291642)

"These days, $1 of crypto might trade at 80 cents on the stock exchange.""These days, $1 of crypto might trade at 80 cents on the stock exchange."

That is a sad conclusion to the story, if you are a promoter or early shareholder of a DAT. But if you don’t know or care about the back story — if you come to this situation with fresh eyes — then “$1 of crypto trades at 80 cents on the stock exchange” is great! That’s a great trade too! You just have to buy. Selling $1 of Bitcoin for $2 was a good trade while it lasted, but it ended; buying $1 of Bitcoin for 80 cents is the good trade now. Not investing advice!

...and you can't even take over the entire company and liquidate the bitcoin because takeovers take regulatory time and by the time the bitcoin is yours it won't be worth the "$1" you acquired for 80 cents... (hashtag, Strive; yous should be paying attention #1232905) it'll most likely be considerably less. HENCE, all these crapshot treasury companies sit tight and safe, even at below 1 mNAV. Man, nobody saw THIS coming.

"Finance is great; it gets you coming and going.""Finance is great; it gets you coming and going."

Wall Street is laughing, all the way to Epstein's bank, and the Bitcoin losers take the hit. Sounds about right (same with the GameStop debacle/rebellion a few years ago, btw) https://thedailyeconomy.org/article/five-years-after-gamestop-what-the-squeeze-actually-changed/, https://thedailyeconomy.org/article/the-stories-from-a-decentralized-short-squeeze/

And Empery, a DAT/Crypto treasury company that had flown under my radar with its NAKA-sized pot, is apparently selling a bunch. We'll see a bunch more of that (#1356919)

...and some activist hedge fund type firm has taken 5-10% ownership of Empery, presumably to squeeze this arbitrage to its conclusion. Shame on the board, indeed:

I suppose that if you run a digital asset treasury company in 2026, you might want to keep it going, hoping that the 2025 magic will come back and you’ll trade at a premium again.

available via: https://newsletterhunt.com/emails/219120

P.S., the prediction market story is fantastic: Polymarket and Kalshi trying to woo New Yorkers by... giving them free food? I'm sold! (https://www.bloomberg.com/news/articles/2026-02-03/kalshi-polymarket-woo-new-yorkers-with-dueling-free-food-offers)