What's your preferred BTC mix?

Do you prefer having 100% of your BTC-related investments in cold storage or have you also considered a mix of perhaps 50% cold storage 30% MSTR 10% FBTC 10% top 3 miners? Especially where the funds for the proxies are tied up in IRA accounts.
The short answer is this:
Your very first priority should be securing your BTC stash in cold-storage.
You need to figure out what your target stack sizes are (your minimum, target and outrageous stacks) and make sure you are well above minimum and at least well on your way to target level before you consider "diversifying" into other BTC-adjacent plays.
I do understand some of your money may be stuck in the fiat machinery and you may be trying to figure out how to turn that into BTC. My personal pick for that is 100% MSTR.
I'll explain why near the bottom of this rant but the inverse-Cramer should be inspiration and guarantee enough:
Cramer refuses to acknowledge $MSTR despite the fact it’s outperformed every company in the S&P 500 and tells a caller to buy #Bitcoin ETFs instead.
— The ₿itcoin Therapist (@TheBTCTherapist) October 19, 2024
Inverse Cramer is never wrong. You know what happens next. pic.twitter.com/eeRBEvDZ3h
BTW, I love that Vanguard doesn't even have a BTC ETF. Masterful.
Miners
Mining is and will remain a difficult business and cutthroat environment demanding not just ruthless efficiency but a real edge —which is hard to achieve and harder to sustain .
Me telling new Bitcoin miners their business will fail unless they model around a clear asymmetric advantage and not only miner efficiency and electricity rate. pic.twitter.com/PpWrnKAcZK
— Rob W. (@BikesandBitcoin) September 1, 2024
You not only need access to cheap electricity in abundant supply, weather-appropriate setup, good maintenance staff and well-priced mining rigs. You also need enough capital to sustain you through bear markets, and the ability and luck to avoid regulatory capture (not to mention outright theft).
Will TeraWulf —as the first US nuclear-powered BTC miner have a long-term edge? Damned if I know. I like the concept but they still have execution, regulatory and many other risks ahead of them.
Here’s a name that’s blending two of the hottest sectors right now:
— TrendSpider (@TrendSpider) October 20, 2024
TeraWulf $WULF is a nuclear-powered Bitcoin miner that caught the attention of billionaire Stanley Druckenmiller, who recently scooped up 2 million shares.
Weekly chart looks primed, with price action coiled up… pic.twitter.com/USgoZRZdsl
It's worth noting many public miners, their stocks rise notwithstanding, are not actually profitable.
The main issue with the larger (public) miners is that largely they are not mining at a profit. They raise money, dilute their stock, continue to operate unprofitably, yet their stock stock price goes up (or people continue to buy their debt.)
— Bob Burnett (@boomer_btc) October 13, 2024
The worst part is at no foreseeable point will it get easier as new rigs will keep pushing difficulty up. There may be a respite in difficulty if a large miner blows up (or there's another country-wide ban) but it's unlikely to last long.
Furthermore, big-public miners are not the all that healthy for the ecosystem as they are both prone to regulatory capture (which could eventually mean attempts at censorship) and have mandates which will make it difficult for them to choose to do what's right for Bitcoin long-term if that means it may not be the best short-term decision for their shareholders.
U.S.-listed #Bitcoin miners now control 29% of the network's hashrate, a new record, according to JPMorgan. pic.twitter.com/wu1uqLj0KM
— TFTC (@TFTC21) October 16, 2024
If you want to mine for ideological, privacy or other reasons that's great, just don't expect to make back your full investment (if you do you'll be pleasantly surprised)
If you must invest in mining I'd suggest you start by mining yourself with either a small lottery-like solo miner (like BitAxe) or buying and running your own rig.
ETFs
Sure, the ETFs seem to be doing well,
Bitcoin ETFs have crossed $20b in total net flows (the most imp number, most difficult metric to grow in ETF world) for first time after huge week of $1.5b. For context, it took gold ETFs about 5yrs to reach same number. Total assets now $65b, also a high water mark. pic.twitter.com/edldEimfqd
— Eric Balchunas (@EricBalchunas) October 17, 2024
And it does seem —contrary to popular sentiment— that it's more the case that buyers are more bitcoiners new to Wall Street than "Wall Streeters" new to BTC.
BlackRock’s ETF chief tells CNBC's @KenzieSigalos that 75% of its bitcoin buyers are crypto fans new to Wall Street.
— CNBC (@CNBC) October 18, 2024
Read more: https://t.co/GgbaBc8jcM pic.twitter.com/Ko3YNnTG58
Still, there's no potential upside from the ETFs beyond spot and there is a fee, so you'll be slightly underperforming. Don't see the appeal beyond "grandma can't use a wallet"
MSTR
In the clip above, Cramer mistakenly states MSTR is a derivative of BTC, which is at best a half-truth —ETFs are direct derivatives of BTC, all the price action (minus fees) with none of the custody (for good and bad).
MSTR is a bit different. Yes, it's fully tied to BTC but it's inventing (and monopolizing) a whole new "Bitcoin securitization" market.
When you buy MSTR you don't own paper BTC, you own a slice of a business that is sitting on a huge-and-growing pile of BTC and transforming it into "different-flavored" products for the Trad-Fi market.
These products cater not just to different investor appetites, but to different investor mandates. This is a key detail, if you're bullish BTC but can only legally buy bonds (or stocks) what do you do? You buy MSTR debt (or shares).
- Want a BTC-yielding investment?
- Need to buy bonds but would like something closer to BTC price action?
- Don't care for BTC but want a market-beating fixed-income?
- Would you settle for limited BTC upside if it had zero downside risk?
MSTR has a product for you.
I'm not saying the current NAV is high or low, but I am saying almost no one understands this yet, no one is trying to compete with MSTR in this market and no one is likely to emerge as a credible competitor.
As long as Saylor keeps utilizing this bitcoin strategy with no major issues, $MSTR is a trillion dollar company in the future.
— MSTR Updates (@MSTRUpdates) October 18, 2024
This is all that matters.
Higher. pic.twitter.com/i19qarfh8W
MSTR's has a positive flywheel effect where —as long as they don't over-leverage— they can keep repeating the same strategy successfully, and because they were first-movers they've now developed a moat that will make it very hard for anyone else to catch up —even if they have more money.
I highly recommend this interview of you want to dive deeper into MSTR:

Bitcoin News
Let the Games Begin
There has been some (above my pay grade) discussions about whether options on BTC ETFs will increase or dampen volatility. What is clear to me is they will provide a broader hedging/speculating toolbox for professional traders, which means more interest in the asset. There's no date for their release yet, but options have been approved.
Surely at least a few of them will be blind to the dangers of paper Bitcoin and get gloriously REKT. May they pump our bags with abandon.
SEC approves NYSE options trading on spot #Bitcoin ETFs. pic.twitter.com/78YhVPumPy
— TFTC (@TFTC21) October 18, 2024
Meanwhile you should avoid these (you don't want to outsmarting yourself) and keep stacking spot BTC. Having said. that if you're really curious about what this means, I'll repost this from a few weeks ago:
If there were one thing to read today re the game-changing nature of Bitcoin ETF options, read (and bookmark) this one for 2025 - it's going to be wild. pic.twitter.com/On2DmUsbHX
— Jeff Park (@dgt10011) September 20, 2024
If that's too much text here's a clear simple chart:
Bitcoin is about to hit 5% global adoption
— Daniel Batten (@DSBatten) October 17, 2024
Source: @woonomic
That means its about to "cross the chasm" from the early adopters to the early majority
Probably nothing pic.twitter.com/p3zfs5mB3O
and speaking of early adopters, the ECB says you're all bastards…
Fighting Words
The European Central Bank just flipped positions. It went from BTC being worthless to Bitcoiners being thieves for stealing economic value from non-adopters, and dares to suggest non-adopters may experience "malaise and frustation" and will NOT, in fact, have fun staying poor.
🚨Minneapolis Fed Joins ECB With #Bitcoin Attack 🚨
— matthew sigel, recovering CFA (@matthew_sigel) October 20, 2024
New Paper Claims Governments Can Run Permanent Deficits if Consumers Don't Notice & Adopt New Money Like BTC.
Fantasizes About "Legal Prohibition" & Extra Taxes on BTC to Ensure Govt Debt Remains "Only Risk Free Security" https://t.co/IMOqZbYce0 pic.twitter.com/quRthS6Znl
This is not only a retarded position, it's hilarious as everyone knows it's impossible to stop Bitcoiners from trying to convince anyone at anytime and for any reason to buy some BTC.
I do applaud the for stating BTC could reach $10M per coin and for this excellent quote though:
Missing out on Bitcoin is not merely a lost opportunity for wealth accumulation, but means real impoverishment compared to a world without Bitcoin.
The cherry on top is that the absolute clowns responsible for this piece Mrrs. Tweedlee and Tweedledumb Ulrich and Jürgen, encourage non-adopters to oppose Bitcoin and advocate for laws that prevent Bitcoin's price from rising and preferably make it disappear altogether.
LOL
LMFAO even.
But as idiotic as their arguments are, the reality is they allow midwits to feel justified in proposing dumb, bound-to-fail anti-BTC policies, like this one
ICYMI: 🇮🇹 Italy plans to raise its #Bitcoin capital gains tax from 26% to 42% in 2025 and remove revenue thresholds for the Digital Services Tax, tightening regulations on digital assets. #BTChttps://t.co/Kgy9Aa4hwk
— BTC Times (@btc) October 19, 2024

Krypto News
"Crypto" can be lethal to your portfolio
Billionaire Agents
VC legend Marc Anderseen must have been bored. He gave an AI agent $50,000 in BTC to help it "spread in the wild".
It resulted in the launch of a token (based on a very gross meme) called Goatseus Maximus. As of this writing it's market cap is <$400 million
This story is fucking insane
— AI Notkilleveryoneism Memes ⏸️ (@AISafetyMemes) October 15, 2024
3 months ago, Marc Andreessen sent $50,000 in Bitcoin to an AI agent to help it escape into the wild.
Today, it spawned a (horrifying?) crypto worth $150 MILLION.
1) Two AIs created a meme
2) Another AI discovered it, got obsessed, spread it like a… https://t.co/lDgVUc1UKN pic.twitter.com/fpJn2hvpqh
Abort
Speaking of highly retreaded ideas, Trump's crypto project —and I can't overstate how BAD an idea this was— launched to resounding crickets (sold less than 5% of its 20 billion tokens on the 1st day). Let's hope they give it a quick, merciful death.
How it started
— gfodor.id (@gfodor) October 20, 2024
How it’s going pic.twitter.com/fWvgV6O2LV
Delusional
Charles Hoskins must have access to phenomenal drugs.
Cardano founder $ADA explains how Cardano will flip Bitcoin. pic.twitter.com/teBgwwdszj
— Altcoin Daily (@AltcoinDailyio) October 19, 2024

Fiat News
MOAR
$455 Billion of additional debt in 3 weeks. $4 Trillion since the debt ceiling was suspended 16 months ago. People who study the rise and declines of empires call this the "looting the treasury" stage. It always happens near the end.
Let’s be honest. The United States does not have a tax problem. The United States has a spending problem. pic.twitter.com/WCVdlzbeZO
— James Lavish (@jameslavish) October 19, 2024
Speaking of the Treasury, are they down with the flu or something? Their Monthly Treasury Report was released (uncharacteristically) 6 business days late without forewarning, explanation or comment.
The current estimate for 2024 deficit spending is now an eye-popping $1.8 trillion.
Latest Monthly Treasury just released. Net Interest on the debt outpaced Defense and Medicare for full FY2024. Time to lower rates despite a strong economy. Uncle Sam needs lower borrowing cost. pic.twitter.com/goGmOPmiKF
— Mel Mattison (@MelMattison1) October 18, 2024
As Mr. Mattison points out in the Tweet above, the government needs lower rates. But that is a bit of an issue because banks have gargantuan (means trillions) "unrealized losses" —an accounting wizardry spell that allows banks to hide the fact they bought tons of expensive bonds at very low rates which are now kind of worthless in a high-rate environment.
BofA alone has exposure to the tune of $130 billion and Wells Fargo weighs in at over $50 billion.
This is fine. Nothing to worry about. I am sure Americans all trust their government and their bankers not to completely fuck us… every.single.time https://t.co/XqWmIP2Wh5
— Porter Stansberry (@porterstansb) October 19, 2024
If banks face a situation where they need to sell those bonds to meet liquidity requirements, they'd be completely fucked in serious trouble.
Here comes the interesting twist: The Fed lowered rates a month ago, but the market has been giving them the finger demanding higher rates on 10-year debt. The higher these rates go, the deeper in trouble the banks are.
The bond market is revolting against the Fed
— Porter Stansberry (@porterstansb) October 7, 2024
This morning, yields on the U.S. 10-year bond soared over 4%. This continues a non-stop rise in yields following the Fed’s 50 basis point rate cut on September 18.
Normally, long term rates follow the path of interest rates in the… pic.twitter.com/xn4cz5wJqF
It's worth mentioning that if banks don't face any runs / liquidity issues, they will simply hold the bonds to maturity and all will be well. Also the government won't allow the big banks to fail, it will reach into the future, take your children's and grandchildren's savings and use them to bail out the banks and pay big fat bonuses to the executives. We know this because it's what they've done every time.
As this crisis comes to a head, you should expect gold and silver to soar -- as happened on Friday. You should expect Bank of America's shares to plummet. And you should expect the government to tell you a boat load of lies about how your money is safe. It isn't. It's already…
— Porter Stansberry (@porterstansb) October 19, 2024
Debt
Meanwhile debt seems to be weighing on the American consumer too.
Serious delinquencies on US auto loans are skyrocketing:
— The Kobeissi Letter (@KobeissiLetter) October 14, 2024
Auto loan 90+ day delinquency rates are now 2.88%, the highest since Q2 2010.
The percentage has almost DOUBLED in just 2.5 years.
Serious delinquent auto loans have been rising at the fastest pace since the 2008… pic.twitter.com/JPLZIOfMvb
Then again, it seems everyone is up to their eyeballs in debt.
China is in a debt bubble:
— The Kobeissi Letter (@KobeissiLetter) October 17, 2024
China’s debt-to-GDP ratio hit a jaw-dropping 366% in Q1 2024, a new all-time high.
Since the 2008 Financial Crisis, the ratio has DOUBLED.
To put this differently, for 1 unit of GDP, the Chinese economy has produced 3.66 units of debt burden.… pic.twitter.com/loYhfxa19W
But remember what your mom told you "just because everyone else is doing it doesn't mean it's OK"
Global debt is expected to surpass $100 Trillion this year warns the IMF. pic.twitter.com/HViHVB3SS6
— TFTC (@TFTC21) October 21, 2024
No Gold
BRICS has been talking about its alternative currency forever. Recently they've been backstopping their transactions with gold, with plenty of hopium they'd mnove to a BTC standard. Now it seems they're releasing a new digital currency (sigh). I hope it does as well as Trump's project.
BRICS has announced a new payment system called BRICS Pay.
— In Gold We Trust (@IGWTreport) October 18, 2024
The payment app is currently being live-tested at the BRICS business forum at the International Trade Centre in Moscow, ahead of next week's BRICS Summit in Kazan.
This is a quote, directly from the BRICS Pay website:… pic.twitter.com/aFIsCN3jiN

Dystopian News
Dinosaur Dislikes Meteors
I don't expect central bankers to like Bitcoin. But statements like this are just embarrasing.
Shot:
JUST IN: 🇺🇸 Federal Reserve official Neel Kashkari says #Bitcoin remains worthless after 12 years.
— Watcher.Guru (@WatcherGuru) October 14, 2024
Chaser 1:
#Bitcoin is the 6th largest monetary asset in the world. pic.twitter.com/iypeSnnBvI
— Matthew Mežinskis (@1basemoney) October 17, 2024
Chaser 2:
Nothing highlights the superior monetary properties of bitcoin better than looking at a chart of the average price of a home priced in USD v. bitcoin.
— TFTC (@TFTC21) October 15, 2024
Since 2016:
+46% in USD
-99% in BTC
Since 2020:
+34% in USD
-70% in BTC pic.twitter.com/F6eeBesahc
Chaser 3:
Friendly Reminder:
— Geiger Capital (@Geiger_Capital) October 17, 2024
If your income has not risen by at least 23% over just the last 4 years, you are now poorer.
And that is using the government’s own data. The real number is likely 35% plus. pic.twitter.com/M8s7R0Ttwz
Chaser 4:
— illuminatibot (@iluminatibot) October 19, 2024
Chaser 5:
"Guys, I only want to know one question, how long before you fail? Not how complicated you can make the formula to confuse me and certainly confuse the public."
— Porter Stansberry (@porterstansb) October 18, 2024

Price News
Bitcoin Surfing
Bitcoin jumped off the Board ($63k) last week and hit its head on the $69k resistance. The Water level ($63.3k) is near and provides support.

Dip Fishing
Price managed to briefly pierce through the $69k resistance last week before being rejected. A trip back to the $65k support would be unsurprising and even down to $60k would not be alarming. A dip below $60k I'd find surprising and a great buying opportunity.

Calm Chart
Uptober remains green, as expected.

