Treasury’s Mixed Signals on Bitcoin Sparks Volatility

• Anniversary reflections: 54 years since Nixon closed the gold window in 1971 and 5 years since MicroStrategy announced its first Bitcoin purchase
• Global inflation since 1971: No country has averaged 3,000 BTC in partnership with Swan
• MicroStrategy “Stretch” (STRC): Explained as a variable coupon preferred equity designed to tap bond-like capital pools, offering ~9% returns
• Quick hits: Bitcoin obituary count at all-time lows, Google Play walks back non-custodial wallet ban, UK pushes bizarre “delete emails to save water” advice, and James Chanos misunderstands network effects

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