Not even remotely a bubble.

cheaper sats later :P

Do you see that they are just over leveraged and that will be the needle to pop it?

Bitcoin is a bubble yet I still believe it can be useful because of the cryptography behind it. It’s also just cool. Use bitcoin, hodl, do whatever you want with it but don’t listen to economists who try to connect it to inflation or anything deeper than that.

Maybe they are riding this 'cycle' and dumping once they are in the profit?

Mvrv indicates that we are not in a bubble but right in the middle of value If it went to 150 tomorrow it still wouldn't be a bubble If it goes to 300 then it might be a bubble assuming it did a very quickly

You're right 👍 Fren

Remember In 2018…. Bitcoin at $4K. People Thought it was expensive then… still think it’s expensive now at $106K. Still buying. Every time

Why are you pushing bubble narrative recently? Bitcoin does its thing. It bubbles. Its great. More bubbler more gooder.

📈

This is not so much a metric for a BTC bubble, but a measure of bitcoin capture.

You mean the stock price of the treasuary companies is inflated or the actual price of bitcoin?

I don't understand what a bubble is in this context. Is the adoption of personal computers a bubble? Or the adoption of accounting standards for businesses? A bubble in any other context refers to the oversaturation of interest in something that lacks a commensurate utility. Do you presume there...

To quote Buffet: When the tide goes out we'll see who's swimming naked. Companies that are just playing degenerate fiat games with leverage will be liquidate andwe'll get cheaper sats.

Number will continue to go up but there will be a few Bitcoin treasury companies that blow up along the way and Im so keen on the discounts they bring

Where is the price action? Is liquidity getting redirected into the stupid mNAVs?

Wow - you'd have thought that 250 odd companies putting Bitcoin on their balance sheet would have moved the price some.

Solid profitable companies stacking bitcoin will stand the test of time and outperform. Horrible fiat mindset debt ridden business stacking BTC as a PR grab will capitulate. Just a matter of when.

LFG