Written by: Nicky, Foresight News
Welcome back to "Hot Takes," where we check out the crypto world's weekly spectacle of "some people making a killing, others cutting their losses and leaving."
Three stories this week: "A tech big shot confesses on camera how he was defeated by leverage, a Reddit image leaves countless people sighing with a wry smile, and the White House releases financial reports that leave netizens speechless."
Ex-Google, Meta Tech Lead Proves High Leverage Treats Everyone Equally!
A video went viral this week! A former Google and Meta technical lead confessed: Suffering massive losses due to using excessive leverage as Bitcoin fell from $120K to $60K, he was forced to liquidate all his holdings.
His core points are worth pondering: First, what's traded isn't fundamentals, but attention. Second, Bitcoin lacks a stable source of sustained attention. Third, the external environment has changed. The AI frenzy has sucked up vast amounts of capital; companies and individuals are no longer considering building Bitcoin reserves. Fourth, structural risks cannot be ignored. The Bitcoin network's core code is controlled by 6 people, facing two major hidden dangers: the threat of quantum computing and insufficient miner incentives.
However, he also stated he remains bullish on Bitcoin long-term, believing it will be rediscovered by each new generation every cycle.
Who knows .
Turns out it's Patrick Shyu 🤔.
And a famous one!
What's next, teacher? 🥺
So now it's endless neglect?
Netizen's spicy comment: This is everyone's counterparty, to be precise, the short sellers'.
After all, it's "virtual," so risk management is important!
So, does using multiple AI tools make you an AI Tech Lead?
So is this a precious buying opportunity?
Action speaks louder than words!
Therefore, the ability to control leverage becomes key.
Who's actually right? 🧐
The Investment Whiz Kid is Here!
On the CryptoCurrency subreddit, a post featured an image:
Michael Saylor standing on a balcony looking down at a table of people sitting below.
The caption read: "Our investment whiz kid is here! Why not come down and tell us about your collection of network tokens, dear?"
Spicy comment in the replies: Saylor: Upstairs thinking about how to buy more BTC with company money. You: Downstairs thinking about what's for dinner.
Pump the MSTR stock price?
Netizen's spicy comment: Off to pawn my little bear 🧸.
Referring to the loss of $6 billion in one day shown in the picture? 😭
Sell NFTs, buy more Bitcoin.
Hopefully 🥹.
Maintaining independent judgment becomes especially important!
Have to rely on the Monopoly money to prop up the stock price!
Buy! 🥳
Trump Rakes in $1.4 Billion from Cryptocurrency in a Year
On July 1st, the White House released Trump's personal annual financial report: In his first year back in the White House, he earned at least $2.2 billion, with $1.4 billion coming from the cryptocurrency sector.
But the flip side: The "Trump Coin" he strongly promoted, which initially skyrocketed to around $70 at launch, has now plummeted to $1.75, a drop of 97%.
The New York Times reported that "Trump Coin" has caused losses for 810,000 investors, totaling over $2 billion.
California Governor Newsom stated the documents clearly show how Trump plays with cryptocurrency, "He's gotten wealthier, while his followers were played."
On July 2nd, Trump complained in an interview: "I feel bad for my kids, no matter what they do, people think they have inside information. I keep telling the kids, if you can avoid touching related industries, try to stay away."
K-line artist!
Can you let us know when you're buying and selling? 🤣
Roger that 🫡.
A single sentence from Musk can affect trillion-dollar companies.
Even Buffett has something to learn from Trump.
Double expert!
Everyone is a Trump "consumer."
Shows everyone how profitable the crypto market can be 🫢.
This week, someone reflected on camera, someone posted a meme on Reddit, and someone counted money in the White House. The world is one giant amateur operation, and "Hot Takes" is here to cut together the real harvesting, the sincere reflections, and the hilarious memes for you!
Wishing everyone a happy weekend, see you next week!
(This issue's content is based on public information and online discussion, interpreted lightly and for reference only.)
Previous Reviews: Hot Takes｜The "Most Emotionally Valuable" Post! Will STRC Be the Next LUNA?
Hot Takes｜Michael Saylor's "Player Comments"; 60-Year-Old Aunt Liquidates Her Futures and "Roasts the Youngsters"
Hot Takes｜"King of Retail" Has His Account Hacked by His Brother for "Scam"? AI "Archaeology" Unearths Bitcoin...
