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Published 19 Jul 2026, 17:58 UTC · fetched 3 Nov 2026, 13:36 UTC
Matt Hougan
@Matt_Hougan
Quoting · 19 Jul 2026, 16:36 UTC · context given to the AI
There are two problems rn for crypto and, specifically, bitcoin bulls: 1) marginal liquidity would rather speculate in prediction markets and equity markets 2) marginal energy to mine BTC is worth 10-20x if reallocated to serving AI tokens These changes feel structural but I could be wrong…1 is true, which is why bitcoin’s vol is down and why the next bull market will be slower. 2 is largely self-correcting and not a near-term concern. https://t.co/P5Pb4Ew1YNView original on X ↗
Deterministic: the same prices and policy always give the same result
unscored Awaiting manual review
Only the end-of-horizon price counts. A brief move followed by a reversal is not a success. Read the methodology
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