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100 sats \ 6 replies \ @j7hB75 OP 6h
Not sure how you all feel about this but something about this doesn't seem right. Jack has, from my recollection, been strongly against Tether and the like. So, it's very odd seeing him go into business with them. First impression is that it leaves a bad taste in my mouth. Curious on everyone's thoughts on this announcement.
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300 sats \ 3 replies \ @k00b 6h
I don't recall him ever being against Tether. I can see how someone might think that - he associates with people who seem like they have been against Tether. Regardless, Tether is allocating more money into Bitcoin stuff than any single entity, so expect to see more people who you thought were against Tether, or who would otherwise be against Tether, suddenly become pro-Tether.
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55 sats \ 0 replies \ @j7hB75 OP 6h
Yeah, I don't know if he mentioned it in his podcast a while back or in some video on YouTube, just felt like he would be against it based on his standards of being Bitcoin-only. However, Strike does use USDT for deposits/withdrawals in certain countries. So, I would guess that might disprove my prior statement.
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36 sats \ 0 replies \ @DarthCoin 6h
Like George Carlin said... "it's a big (Tether) club / family and you ain't in it..."
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10 sats \ 0 replies \ @kepford 2h
You are correct. Pretty sure I have heard him explain this a few times. The reality is that in the US Strike uses fiat dollars and in other countries Tether is popular. I get why they are doing this.
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57 sats \ 0 replies \ @SwapMarket 2h
Jack says good things about Bitcoin, but runs a KYC wallet. So now he wants to compete with Saylor, another fiat maxi. Partnering with Tether makes total sense.
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0 sats \ 0 replies \ @denlillaapan 1h
There's some fault play in play??
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135 sats \ 3 replies \ @BlokchainB 5h
As a Jack mallers fan I’m confused by this announcement. The business is just buying and holding bitcoin?
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176 sats \ 2 replies \ @justin_shocknet 3h
It'll end up being the US franchise of Tether that gets them access to our equity markets and possibly other favorable treatment by the treasury
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0 sats \ 1 reply \ @BlokchainB 2h
So is Jack getting in bed with Palo and team to combat circle and the big banks for stablecoin dominance in USA?
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137 sats \ 0 replies \ @justin_shocknet 2h
Seems that way, depending who we define as big.
Very likely that domestic banks will have some exposure or render services to this, and it's really central banking that is being disrupted... not so much banking in general.
Elimination of the Fed in favor of the Treasury should be good for banks currently subordinate to the Fed and not the masters of it.
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101 sats \ 2 replies \ @joseph_at_nostr_fan 5h
If you read the whole announcement, the business is not just to buy, hold and give access to their Bitcoin treasury, they intend to build financial software that uses Bitcoin underneath:
"Twenty One is structured to be a day one Bitcoin-native company that will strategically allocate capital to increase Bitcoin per share. Twenty One intends to develop a corporate architecture capable of supporting financial products built with and on Bitcoin. This includes native lending models, capital market instruments, and future innovations that will replace legacy financial tools with Bitcoin-aligned alternatives. As a pro-Bitcoin advocate, Twenty One plans to produce original Bitcoin-focused content and media. This pure-play approach will offer investors access to a public company that combines Bitcoin exposure with an operating business building Bitcoin-native products and services."
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33 sats \ 0 replies \ @elvismercury 4h
This sounds like what I hoped Saylor would do - instead of just hovering up everything possible, spend some resources to attend to the actual ecosystem. Build capacity in ways the raw market won't or can't.
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0 sats \ 0 replies \ @k00b 4h
I don't read this as software products. I read this as financial products. They are SPACing without any product - they just have a bitcoin treasury. I don't think anything about this announcement implies that there's going to be software product sold.
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235 sats \ 2 replies \ @k00b 6h
So this is like Microstrategy without the software business for cashflow? Another debt fueled bitcoin holding company? Because ETFs are too risk averse?
I can't help but feel like this is all going to end poorly. Feels a lot like hearing about that friend of a friend that was flipping 10 homes at a time in 2006 and was driving a Maserati until they weren't. Maybe USDT fixes this.
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21 sats \ 0 replies \ @crenshaw 3h
It's all be fine as long as the music never stops.
It won't ever stop though, right?....
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0 sats \ 0 replies \ @Coinsreporter 6h
I already reported it hours before #954271
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100 sats \ 1 reply \ @Coinsreporter 6h
Same Reported here: #954271
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0 sats \ 0 replies \ @j7hB75 OP 6h
I posted the link and it showed no dupes, but the link you posted was different. I could have done more digging I suppose. Sorry about that!
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20 sats \ 1 reply \ @DarthCoin 6h
nothing to see here, just more fiat maximalism...
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0 sats \ 0 replies \ @j7hB75 OP 6h
Yeah, it's just disappointing.
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0 sats \ 0 replies \ @byzantine 3h
https://www.sec.gov/Archives/edgar/data/1865602/000121390025034375/ea023922201ex99-3_cantor.htm
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0 sats \ 0 replies \ @byzantine 3h
i'm pretty sure that they are going to use this space to both acquire bitcoin through financial products and also acquire companies that have been venture capital back in a liquid, but sats flow positive
I bet they acquire strike
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0 sats \ 0 replies \ @nkmg1c_ventures 4h
Yuge
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