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Russ Jacobsen

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@RussJacobsen

Co-founder @BIONTICBTC. Ex @MoonIncHK, @HSBC and @DeutscheBank. Realist-optimist

₿itcoiner, Optimist
Hong Kong bionticbtc.com Joined March 2024
376 Following 290 Followers 714 Posts

Latest posts 5

Russ Jacobsen Verified account @RussJacobsen
Well said, James
James Lavish Verified account @jameslavish Oct 30
Good evening.

To everyone reading about the $5.9 billion Binance hack and declaring cryptocurrencies and Bitcoin dead, two things:

1) Bitcoin itself was not hacked, an exchange managing cryptocurrency wallets and holding the keys was hacked.

2) Former CEO CZ says that he expects Binance to fully cover the losses with their $144B balance sheet.

This event in no way shape or form exposed or impaired the Bitcoin network.

Have a great night.
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Russ Jacobsen Verified account @RussJacobsen
Strategy skipped bitcoin last week and spent $205M buying back its STRC preferred near $99.

Saylor can buy back the pref, buy back the common, or buy bitcoin, and use any one of them to fund the others. Short term that's a flywheel arbitrage. Long term, as long as bitcoin per share grows, he wins.