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Hashpoint Editors

The BitVac Pauses

The BitVac Pauses

Strategy bought bonds, not Bitcoin, this week. The mechanics of why — and what "the BitVac is charging" actually means for the week ahead. Four words. That is all it took to move the institutional demand picture for Bitcoin this week. "Bought bonds, not bitcoin." Michael Saylor

The 2007 Number

The 2007 Number

The 30-year Treasury yield hit 5.197% on May 20. Its highest since July 2007. What that number means for Bitcoin, and why bond market volatility is the variable that matters most right now. The equity market is calm. The VIX sits at 15.32. By that measure, this is

Reading the $1 Billion Outflow Week

Reading the $1 Billion Outflow Week

ETF flows reversed sharply in the second week of May. The reversal reveals something durable about the nature of institutional demand in 2026. It amplifies, but it does not lead.

Inside the STRC Par Defense: Why $99.30 Matters More Than $77,000

Inside the STRC Par Defense: Why $99.30 Matters More Than $77,000

Strategy's preferred-stock funding instrument has become the single most consequential mechanism in 2026's Bitcoin supply-demand balance. Here's why it's flashing yellow.

The CPI Print That Broke the Rally

The CPI Print That Broke the Rally

April inflation data forced Fed funds futures to reprice from rate cuts toward rate hikes. The macro environment for Bitcoin is now restrictive, not accommodative.

The Hashpoint

Where Bitcoin sits in its long-run structural envelope. The simplest version of what the data says.