25:40
And so the question really becomes, has the fundamentals of Bitcoin changed? And I think the fundamentals have actually never been better. Absolute bloodbath today? Carnage. Merciless. Only pain. Bitcoin hit 59K today, making a new 2026 low. Last time Bitcoin hit 59K was October of 2024. So you can see last time Bitcoin hit 59K October of 2024. But it's not just Bitcoin or crypto today. The stock market takes a tumble as over 2.2 trillion wiped out of US stock market. Absolutely insane. In fact, taking a look at commodities, stock market, micro caps, crypto, today was one of the biggest multi-market crashes of the year. Guys, please take
two seconds, smash the like button. It's a small thing you can do, but it truly does help us grow. So, let me take the next three, four minutes to put what's going on today in context and talk about the future of this space. In my opinion, based on a multitude of metrics, where Bitcoin is today, Bitcoin's level today, this is a generational buying opportunity. Why? Well, Bitcoin's daily RSI is the lowest ever recorded. Sentiment in crypto is probably the worst in a decade. Ethereum daily RSI has literally never been lower. Not to mention, Bitcoin just touched the 200E moving average. Historically speaking, this is the right time to be looking to
scale into positions. If you were interested in Bitcoin at 90K, then today's prices are a bargain because nothing fundamentally about the asset has changed. Let's dive deeper into the bullcase for Bitcoin here. Bitcoin has fallen to its 200E moving average for the first time since 2023. Historically, Bitcoin has always hit the 200E moving average in a bare market. And historically, this is a great time to start taking out positions. Great time. Again, guys, smash the like button if you're getting value today. I'm trying to show you things that the mainstream isn't really showing you. Ethereum. This is the most brutal sell-off in Ethereum's history. The RSI is at 12. For reference, the lowest previous RSI was 16. After 5 years of ranging, Ethereum has now printed its
most brutal capitulation sell-off. And yet we know that Wall Street and institutions and banks are moving in. Most of retail doesn't understand the value proposition like we do. Bitcoin is digital gold. Ethereum is tokenized Wall Street. Salana is digital commerce at light speed. Today there is such a bullcase for quality crypto like Bitcoin, like Ethereum, like Salana, like others. And just today, 200 billion VanX Matthew Sigle guested it on CNBC to put his reputation and Van X reputation on the line. We think crypto is here to stay. We think crypto will become a mainstream asset and Bitcoin will compete with other reserve currencies.
Listen, those who have been in the crypto space for a long time, crypto winter is not a new concept. They've been through this before and they've been rewarded for that. But what if this time is fundamentally different? And I know it doesn't feel good to sell at 60 when you could have sold at 120, but do you think we're going back up to those old highs? This time is fundamentally the same, which is that there's a four-year cycle to this asset. It's highly cyclical. There's no buyer of B of last resort. And right now you have a narrative and a reality in the market around AI which is
going parabolic and it's sucking up investment capital and it's literally competing with existing software platforms including these open source buyer of last resort was kind of supposed to be Michael Sailor. I don't get too concerned with leveraged entities that buy and sell these cryptos. uh it'll feel good on the way up, but when you have a downdraft, you know, those leverage entities will get washed out. And that's kind of what's happening to Micro Strategy at the moment. If we look forward 6 months, 12 year, eventually these parabol will ease and capital will rotate back to the software platforms that have re real utility that are selling at a reasonable discount. And it, you know, we'll see,
but Q4 looks to us like a time when you want to have a full position. uh the market will be discounting the election outcome. We'll be able to focus on some of the money printing that will continue. To me, it was so compelling as an adoption story. And when it got so mainstream that the president was up there embracing it in court, I mean, you can't get more mainstream than that. And it's hard to imagine ever reaching that level of adoption velocity again. Well, I mean, we think that this will become a mainstream asset that will compete with other reserve settlement currencies. There's two central banks that are buying Bitcoin. There's a number of sovereign wealth funds. This
is the time in the market when the weak hands are puking Bitcoin and chasing AI and like let's talk in 60 months. So, Bitcoin between 40 to 50,000 is a phenomenal entry point. To be honest, I doubt it will get there. 50 to 60K phenomenal entry point. In a few years, we'll look back and laugh at all this. It's the same as the bottom in 2018, 2020, 2022. Just like those periods, this time won't be different. And yet despite the bull case, we are still seeing some huge whales selling a huge capitulation of selling this week in crypto. So who are the whales selling? We have data on this. Much of the selling is from shortterm holders who bought Bitcoin in the last year or less.
Bitcoin just printed the biggest short-term holder capitulation in its entire history. The realized loss ratio for short-term holders just hit a new all-time low. Worse than COVID, worse than May 2021, worse than FTX, deeper than tariff lows. I wish more people would subscribe to Altcoin Daily, so they can truly understand the bullcase for crypto and make their own decisions. Subscribe to Altcoin Daily. We are the largest crypto community in the world. Just in Michael Sailor's strategy is now sitting on 12.58 billion in unrealized loss on its Bitcoin position. Let's talk about the Michael Sailor problem. And
please comment your thoughts below. Do you think Michael Sailor is going to become a problem for the bullcase for Bitcoin because he owns so much? This video of Sailor is living rentree in a lot of Bitcoin holders heads right now. If Bitcoin falls 90% for the next four years, we'll refinance the debt. Refinance where, Michael? We'll just roll it forward. I mean, again, but you think banks would lend to you at that point. Yeah, because the volatility of Bitcoin is such that it's always going to be value. Look, you're at 68,000 right now. Literally has to fall to 8,000. Then we just refinance the debt. If you think it's going to zero, then we'll deal with that. But I don't think
it's going to zero, and I don't think it's going to 8,000 either, but the credit risk is dimminimous at this point. A lot of people are saying that Sailor is about to get margin called. Sailor even tweeting back at people, "No, we're not getting margin called." Still, this is creating a lot of fear, uncertainty, and doubt in the market. Certainly not as bad as a lot of people are making it out to be. Six months ago, Michael Sailor told Grant Cardone that Strategy's balance sheet could withstand a 90% drawdown in Bitcoin's price before being collateralized. At the time, Bitcoin's price was 95,000. He said that the company can tolerate the price going down to 10,000. So, the point is,
anybody who makes Sailor out to be the boogeyman right now doesn't understand how his business is structured and what's actually going to happen with this. Where do you have to liquidate? Where do you have to liquidate any MSTR? I don't think we're liquidating. Uh, look, we have eight billion dollars of debt and we have 65 to70 billion, 57 billion of equity today. Yeah. So in terms Bitcoin would have to fall 90% from here for us to be sort of collateralized to be one-on-one at which point we probably would dilute the equity and so it would be bad for dilute the equity because you would just issue more.
We'd have to sell more equity. We're not going to def but the point is we're never going to liquidate. The equity is going to be a loser. Yeah. If Bitcoin fell to zero tomorrow forever Yeah. then the bonds won't come the bonds won't default. Yeah. Um but a 90% draw down we wouldn't default. Yeah. Right. Um that's seems so if you think Bitcoin is going to go to 10,000 I think we're good. If you think Bitcoin is going to a dollar tomorrow forever then yeah the bonds would default. But yes I was in a family office.
That's like saying you know New York City sinks underneath the ocean. If you think that's happening your New York City real estate bonds will go bad too. Everybody's reporting that Sailor sold Bitcoin this month. Nobody is reporting that Sailor is actually a net buyer of Bitcoin this month like he always is. Strive is a competing company to Micro Strategy. They're both Bitcoin treasury companies and he has good perspective on this. Bitcoin's always a volatile journey and that's something that you have to expect in the asset. You mentioned that this was the largest
decline in Bitcoin since November of 2022. That is correct. that would have also been the time to buy the literal bottom of the last bare market. And so the question really becomes, has the fundamentals of Bitcoin changed? And I think the fundamentals have actually never been better. We seeing the institutionalization of Bitcoin, Bitcoin ETFs proliferate, corporations like Strategy, like Strive become major buyers of Bitcoin. And you also mentioned Strategy selling 32 Bitcoin uh last week. It's also important to note that even in that month, the month of May, they bought over 20,000 Bitcoin on a net basis. And so my expectation with strategy is they're going to be net buyers of Bitcoin for months to come.
And so people that have that fear, I think that'll age poorly, but it makes sense that they would be a little bit scared right now. And so we're always looking to buy. Strategies also always looking to buy. It's important to note that their 32 bitcoin sale represented less than 0.004%. So if you round down, it's literally 0.00% of their Bitcoin. I don't think they need to sell Bitcoin. I think they were doing it to prove a point. Um, and we're going to be buying the dip. I expect strategy to be buying the dip as well. Come on, crypto holders. We're all in the same boat. The boat. So it's hard to visualize. I know, but take it from me. I have experience in this and anybody who's been in Bitcoin for more
than a cycle. You make the most money in bare markets, but it is hard to realize at the time. Hey, remember my friends, trading is a great way to make money in crypto whether the market goes up or down. Right now, there is 50% deposit bonuses on WEX. Take advantage of this free money, not to mention an extra $10,000 for signing up new. Take advantage of this crypto traders. Trading is a great way to make money in crypto whether the market goes up or down. A lot is going on behind the scenes and we keep you informed on everything crypto every day. Subscribe to Altcoin Daily. Join our team and I'll
see you tomorrow, my friends. Hold strong, guys. Hold strong.
