Appreciate your analysis.

I’d like to know why Peter Thiel paying a 90% discount to what $BMNR is currently trading is a good thing?

55M shares at $4.50 pic.twitter.com/CEJ3hgJupd

— SmallCapKing - aka “Bob” (@SmallCapBob2) July 15, 2025

$BMNR holding ETH options

If it’s 1:1 then why not just buy the ETH? With the ETH you can stake it, the options can’t pic.twitter.com/6lb3UwuC2Z

— Base Case D (@CashflowingOptn) July 17, 2025

So they didn't buy eth?

Yukon Cornelius said:

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So they didn't buy eth?

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Im not real sure. Im pretty sure I've seen other mentions of a purchase. Another confusing point has to do with options on BMNR.


The Peter Thiel thing sounds like a gimmick, just to announce Peter Thiel is in on it. Perhaps payment to be on board or something?

Ive seen some stuff on this too

OTC ETH had ran dry, supply shock to come

— JKDeFi.eth 📈 (@jkdefi_eth) July 18, 2025

I know they sold shares at about that price to raise money for the eth purchase. I think those shares can be sold in a week or so. (Somone fact check me)

Good thread on X about ETH, probably have to click to read it all

Ethereum is making HISTORY:

We are currently witnessing one of the LARGEST short squeezes in crypto history.

Ethereum has added +$150 BILLION in market cap since July 1st, days after net SHORT exposure hit record highs.

What's happening? Let us explain.

(a thread) pic.twitter.com/ZJ315XEIEV

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

Thank you for correcting @BitMNR
👇 https://t.co/1MDk1WQpmk

— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) July 18, 2025

I don't have X. Is it a lot to post all of them?

Thank you, good info

Probably gonna be ugly

Take a look at the chart below:

Heading into July, net leverage shorts on Ethereum hit a record high, per Zerohedge.

In fact, net short exposure was ~25% ABOVE levels seen in February 2025.

As a result, Ethereum has surged +70% in less than one month.

But that's not all. pic.twitter.com/sMtF8FFz1e

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

President Trump's World Liberty Financial has been buying Ethereum.

In fact, less than 24 hours ago, transaction logs showed a $5 million purchase.

This has added fuel to the already raging short-squeeze fire.

Much of these shorts were institutional capital. pic.twitter.com/hLykTGf61r

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

And, it get's even more interesting:

Heading into July 1st, Blackrock's ETF added Ethereum on 29 of the previous 30 days, per Zerohedge.

Yet, prices were DOWN because of the sudden surge in leveraged short exposure, as noted in the above post.

Someone knew this was coming. pic.twitter.com/GBtmGPxysW

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

As a result, we are seeing billions of dollars in liquidated shorts.

If Ethereum rises another 10%, another $1 billion of shorts will be liquidated.

Furthermore, the fact that many of these shorts are leveraged is adding even more pressure.

Ethereum could see $4,000 soon. pic.twitter.com/q9ktFNf49W

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

We are seeing similar effects in Ripple as well as relative strength in Bitcoin.

Bitcoin is officially back at $120,000 and has now added +$900 BILLION of market cap since the April low.

After months of lagging, Ethereum and Ripple are finally catching up to Bitcoin. pic.twitter.com/0lxpSF04N8

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

We got ahead of this trend. Below are some alerts for our premium members.

We bought dips into $80,000, $90,000, $100,000 and called for $115,000.

Last week, we raised our target to $120,000+ which was just hit.

Subscribe below to access our alerts:https://t.co/SJRZ4FrfLE pic.twitter.com/pPBchjBd92

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

Furthermore, markets are now pricing-in a massive report from FT today.

President Trump is set to sign an executive order as soon as this week allowing 401k retirement plans to invest in crypto.

This would be one of the most bullish developments in crypto history. pic.twitter.com/01HrGBJuWQ

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

As of Q1 2025, there are a whopping $8.7 TRILLION in US 401Ks.

To put this into perspective, the total market cap of crypto is currently $3.8 trillion.

This means capital worth ~2.3 TIMES more than the entire crypto market will soon have access to crypto.

This is historic. pic.twitter.com/qVZaUfedjc

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

On top of this, the US House passed all three major Bitcoin and crypto bills this week:

1. Clarity Act
2. Genius Act
3. Anti-CBDC Act

The biggest win for crypto is that it now has bipartisan support.

Candidates who do not embrace crypto are no longer able to win elections.

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

As we have said, institutional capital can no longer ignore crypto.

Bitcoin has seen a +90% CAGR over the last 13 years, crushing just about any asset in the world.

We continue to hear from a growing number of institutional investors that AUM is being allocated to crypto. pic.twitter.com/T5f7L551C0

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

As we look ahead, we believe the themes driving crypto higher will result in major macroeconomic shifts.

This is redefining the way markets are operating.

Want to see how we are capitalizing on it?

Subscribe to access our premium analysis below:https://t.co/SJRZ4FrfLE

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

Lastly, don't forget about the biggest bullish driver of crypto: the US deficit spending crisis.

Not only is Bitcoin up +55% since April, but the USD is down -10% YTD.

The USD is in an eternal bear market.

Follow us @KobeissiLetter for real time analysis as this develops. pic.twitter.com/hR4k8zZO4u

— The Kobeissi Letter (@KobeissiLetter) July 18, 2025

Yep, thats ugly

This guy was good if ya got 3 min

Thank you. I appreciate it.

What you think about it now?

Concerning. https://t.co/W0dZcWOQkQ

— David Sacks (@DavidSacks) July 20, 2025

Dramatic. Twinkletoes twins will have to pay more to banks yes. The exchanges like his and Coinbase charge extreme fees and you always get hosed on the spread too. He's just crying because it'll eat into his margin.

But banks are freaking out. Stable coin and blockchain eats into a large portion of their market share. They need to get off center and start offering full blown crypto services. Like yesterday if they wish to survive.

Yukon Cornelius said:

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What you think about it now?

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Corrective waves have so many possibilities. You can map out a potential path, but there's very few hard rules that they follow because they are ultimately an indecision point for both bulls and bears, buyers and sellers, each trying to create the next trend. They whipsaw each other around. There are patterns that tend to play out though..

- Zigzag (5 waves down, 3 waves up to lower high, 5 waves down to lower low bottom. The two down segments equal in size)
- Flat (3 waves down, 3 waves up to lower high, 5 waves down to double bottom or lower low bottom. Last down segment usually double bottom or 1.618 size larger than first)
- Triangle (all segments are 3 waves.. no 5 wave segments. Can only happen in b-waves and wave 4's. With this being a 2nd wave, its not going to be a triangle (flag lookalike) pattern.
- Double three and triple three combos (this is where you get two ow three segments of the above patterns.

There's just too many possibilies, which is why my ultimate goal is to watch support and an impulsive move toward new breakout. Best guess as of now..

Doge has been making a big move also. Doge etf incoming?

Bitcoin is a generational asset used by young people as a tool to absolve the sins of the old people.

— Anthony Pompliano 🌪 (@APompliano) July 20, 2025

Hot take: Boomers/Gen X will be left holding the bitcoin bag and the younger generations won't buy it.

I've tried MOODENG and backed out. This morning after research and 1/2 a gummy, I am back in a meme coin, King $SNEK.

What does this mean? Thought you were a long term btc believer?

Your comment makes no sense bc boomers aren't buying it and the young generation is. So not sure what you are trying to say. That the young generation will flip and short it when the boomers get in? I seriously doubt that.

Me thinks YK was making fun of the X post.

Gotcha. I was confused.

The buying rn is predominantly ETFs and corporations. Zoomers and whatever below them are called are more into Sol, ETH and XRP. I have several younger family members into crypto and not one of them holds btc. Largely I think to being priced out but that will only get worse. And thus only those with money will pump it from on out. But at some point that will daylight.

Gotcha. Guess it depends on what you mean by the younger generation. If you are talking 25 and younger I guess I can see that. But when they start making money; they will be in btc imo. If they have $1-10k to throw at something, then the alt coins and a chance to 2-5x is more enticing.

Yukon Cornelius said:

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The buying rn is predominantly ETFs and corporations. Zoomers and whatever below them are called are more into Sol, ETH and XRP. I have several younger family members into crypto and not one of them holds btc. Largely I think to being priced out but that will only get worse. And thus only those with money will pump it from on out. But at some point that will daylight.

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Which is crazy considering the white paper detailed the SAT being the penny denomination at some point in the future. If BTC is for real, you can buy plenty of pennies right now that would be worth a fortune in the future.

Potentially so. I've been saying for a few years now the first exchange that figures out to list bitcoin as sats will see a massive increase in volume from retail.

Yukon Cornelius said:

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Potentially so. I've been saying for a few years now the first exchange that figures out to list bitcoin as sats will see a massive increase in volume from retail.

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Sounds like a business opportunity.

No doubt. But one that requires a lot of liquidity lol.

Bought my BMNR position this morning. Looks like it found its floor etc.

GLXY digital. Mike Novogratz firm, crypto holding + massive staking spot + datacenters.

Yukon Cornelius said:

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Hot take: Boomers/Gen X will be left holding the bitcoin bag and the younger generations won't buy it.

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Pls explain

Yukon Cornelius said:

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Bought my BMNR position this morning. Looks like it found its floor etc.

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I tapped out yesterday but was able to get back in lower today

Apparently Kathie woods bought a crap load too

Bag said:

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Yukon Cornelius said:

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Hot take: Boomers/Gen X will be left holding the bitcoin bag and the younger generations won't buy it.

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Pls explain

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As more and more btc sits on balance sheets and ETFs and as the price appreciates fewer and fewer young people will be interested in buying. How many young people get excited to buy gold eagles? But older people still buy them. I can see btc following the same trajectory of gold post etf.

Yukon Cornelius said:

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Bag said:

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Yukon Cornelius said:

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Hot take: Boomers/Gen X will be left holding the bitcoin bag and the younger generations won't buy it.

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Pls explain

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As more and more btc sits on balance sheets and ETFs and as the price appreciates fewer and fewer young people will be interested in buying. How many young people get excited to buy gold eagles? But older people still buy them. I can see btc following the same trajectory of gold post etf.

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The ETF was my main reason for getting into bitcoin, not because I was unwilling to study up to buy it in a wallet but because I thought millions who otherwise would never go that route would do so with a simple ETF

And now they're working towards getting it into 401K options, which imo would have a much bigger impact than ETFs