Strategy, the Michael Saylor-led company formerly known as MicroStrategy, has surpassed BlackRock's flagship spot Bitcoin exchange-traded fund (ETF) to become the world's largest institutional holder of Bitcoin.
The April 21 session delivered a "cold shower" for bulls. While volatility is making traditional markets turn red, a decisive battle is unfolding on Bitcoin's price chart.
Arthur Hayes does not waste words when he disagrees with a narrative. Asked whether crypto is becoming the backbone of a parallel financial system, given reports of Iran charging crypto tolls on oil tankers, Bitcoin entering nation-state financial conversations and XRP being discussed as cross-border settlement infrastructure, he gave a single sentence in response.