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⌐◪-◪ → Michael Saylor just told analysts at Bernstein that he wants MicroStrategy to become the world’s leading Bitcoin bank worth over 1 trillion dollars.

Their strategy is simple: borrow money at low rates and use it to buy Bitcoin, where they expect returns of 30-50% a year for the next decade. Bullish.

For context, the company has been aggressively buying Bitcoin since 2020 and currently holds 252,220 Bitcoin worth over $15B — 1.2% of Bitcoin’s total supply. At a certain point, they’re going to have to change their name to macrostrategy.

Never forget → Saylor is a Bitcoin bull, bull, bull.

⌐◪-◪ → The SEC just filed a lawsuit against Cumberland DRW for operating as an unregistered broker-dealer, and crypto Twitter is NOT happy about it.

Cumberland is one of crypto’s largest market makers and liquidity providers — buying and selling cryptocurrencies like Bitcoin, Ether, Solana, Polygon, and more. They make the market more efficient and facilitate large institutional investments.

The SEC alleges that since 2018, Cumberland has been, “operating as an unregistered dealer in more than $2 billion of crypto assets offered and sold as securities.”

The company has already responded to the SEC, criticizing their “enforcement first approach” and accusing them of stifling innovation in digital assets. Furthermore, the company said they are not making any changes to their business operations or the assets in which they provide liquidity — punk.

It’s starting to feel like Gary’s getting desperate. Even SEC commissioner Mark Uyeda called their approach to crypto a disaster.

⌐◪-◪ → Today is a sad day. DeeKay, one of the kindest and most inspiring people in our space, just got hacked and lost all of his funds.

Fortunately, the hacker didn’t take any of his art, ownership of his smart contracts, or his NFTs (including a CryptoPunk) — ZachXBT has been helping DeeKay rescue those assets.

While this is certainly a tragedy, it’s a stark reminder to NEVER store your seed phrase online. DeeKay, unfortunately, stored a picture of his handwritten seed phrase on Google Drive, which probably led to his demise.

I have no doubt DeeKay will bounce back from this stronger than before; his charisma and energy cannot be killed.

If you’re not sure where to start with wallet security, read @punk6529’s thread on the Three Address Protocol (TAP).

If you’re confused, join Specs.Chat — we have some seasoned veterans in the chat who can help you stay safe on the internet.

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