Over 2 Billion UTXOs in one view. Each bar is a week of Bitcoin moving on-chain by age band & realized PnL. Follow for clear, data-driven reads on holder cohorts: new buyers to 4y+ HODLers, & to spot shifts in on-chain flows long before price-only charts show them.

#Bitcoin supply by the price where each coin last moved on-chain. Red is in profit, blue is underwater. 21% of all BTC last moved within 10% of today’s price.

MSCI = Morgan Stanley Capital International... is just a bank spun entity, with a vendetta against a digital capital market that is revolutionizing (taking over) their business. It's like Blockbuster throwing a fit over streaming infringing on their market 2 decades ago. We all know how that went, even though they 'voted' against it as a business... They are over-reaching in trying to decide what is 'investible' but at the end of the day it's just a loud bark. Innovation is inevitable. So is sound money. #Bitcoin #mstr #strc #Strategy #msci

On-chain data shows accumulation is building across the groups that directly impact supply shocks. We are just getting started on this Bullish phase... #Bitcoin

New vizualization of the raw on-chain data. These charts combine the age and profit (or loss) since creation of every single UTXO in bitcoins history. The short term activity (blue) and long term activity (red) point to when the tops and bottoms develop. They also directly signal where we are in the cycle. #Bitcoin

If AI cannot alter the foundations of physics, it also cannot 'break' Bitcoins security. If you understand Cryptography, Signatures, and how Energy enforces them in #Bitcoin then you don't worry about this hyperbole.

If you print numbers in a standard size-12 font, you can measure the scale of reality in physical inches. - 9 items: 1 digit - 9 Billion items: 10 digits (~1 inch long) - Stars in the observable universe: ~24 digits (~3 inches long) - Combinations of a shuffled deck (52!): 68 digits (~6 inches long) - Atoms in the known universe: 80 digits (~8 inches long) - Bitcoin wallet seed combinations (24 words + custom 25th word): ~120 digits (~1 foot long) - Possible combinations of your DNA: A number so massive, the digits would stretch from NYC to Los Angeles just to write out. You are mathematically, impossibly unique.... Unless the universe is infinite. If we are living in an infinite reality, probability breaks. In an endless expanse, a sequence of DNA that stretches from NYC to LA isn't just rare... it is guaranteed to repeat. You appear over and over again, randomly, in the exact state you exist right now. Sometimes you emerge from a flawless replay of the exact 13.8 billion-year history that led to you sitting here today. Sometimes you materialize spontaneously out of random quantum dust. Infinite times, over an infinite timeline, that never ends.

I’ve always wanted to build a company, but never wanted to step away from deep engineering to manage overhead. So I’m running an experiment: building a company from the ground up, run entirely with AI. Week 1 is in the books. I’ve integrated my existing infrastructure into Claude, and I’m documenting the whole process here. The Stack & Roadmap: • Unified Engine: Tying together Omega (my automated Kalshi trading system) with over21million on-chain analytics. • Data Pipeline: Building an external API for unique, non-consensus Bitcoin metrics you can’t get on platforms like Glassnode. • Self-Funded Model: Powering the venture via a Jane Street-style quantitative desk that trades our own proprietary on-chain alpha. Building in public starts now. More architecture and progress updates shortly. #Bitcoin #OnChain #BuildInPublic #AI

This tree is over 2,000 years old. Not AI. Sad I have to start with that. Twelve years ago, I hopped on a plane to California for a 3 day weekend with no plan but to get lost in Northern California, in search of the elusive 'Grove of titans' ... holding several of the ten largest trees in the world (this one is #3). At the time this tree was 'unknown' and referenced vaguely online by those who had found it, when I found it everyone before me was still trying to keep it secret. That changed several year later, unfortunately. #GroveOfTitans #Redwoods Today it's a protected area by the National Park Service: nps.gov/places/got.htm

Live on-chain data shows Supply Shock in the making: old coins are staying put. In the last 12h, only ~0.3% of BTC spent was 1+ years old, and most realized PnL was profit (+$562M net). Long-term holders aren't distributing. #Bitcoin

There were signs... #Bitcoin

Rate hikes don't slow inflation anymore. They just guarantee the printer turns on sooner. The FED just added a $100B annual obligation to the annual deficit.

Data over Opinions... #Bitcoin on chain activity In the last 12 hours (79 blocks) there were 615,132 UTXOs and 96.0% of that activity was coins that previously moved just 7 days prior or less (extremely short term trading). Coins that have been held longer than 90 days made up 0.95% of th total volume in those 615,132 transactions. Lowest reading I've seen. No one who has held BTC longer than 90 days moved today. All of this market activity is tourists. More specifics in the data: the total change in value of the BTC that moved in that <7 day held group was $-145,938,220.71 (some of this could have been simply ETFs moving coins around, but if you mape the lst move to the move in the last 12 hours the culmination of that 96% of volume was a realized loss of $145m. Ironically, the very small movement of 8 year old and older coins represented a net change in value of +$11m even though it was 0.05% of total volume. Basically very very short term traders freaked out and sold. Everyone who has been here longer than a week is simply watching and waiting...probably accumulating (though that doesn't show up in the data, just volume).

All of the on-chain activity the last 12 hours has been very very short term holders. Everyone else continues to accumulate. #Bitcoin

New chart... teal grows when coins in profit become quiet (more apathetic) relative to training 12 month average volume for those in profit. Magenta is the inverse, volume spikes (relative to trailing 12 months of holders in loss). When you see both blue above and margenta below it's a bottoming capitulation from those in loss and sign long term holders are accumulating heavy. Making another version on this shortly that also gives a cloud metric in a new color for the increased volume from those in profit.

I have never exchanged #Bitcoin for USD... what does that feel like to those who have? Seems so risky (reckless)

No one can print 5,000 sats and hand them out to everyone on earth... #Bitcoin