{"id":5215,"date":"2025-11-21T07:48:56","date_gmt":"2025-11-21T12:48:56","guid":{"rendered":"https:\/\/www.inflation.us\/news\/?p=5215"},"modified":"2025-12-07T00:54:51","modified_gmt":"2025-12-07T05:54:51","slug":"the-chart-that-proved-bitcoin-peak","status":"publish","type":"post","link":"https:\/\/www.inflation.us\/news\/articles\/the-chart-that-proved-bitcoin-peak\/","title":{"rendered":"The Chart That Proved Bitcoin\u2019s Peak"},"content":{"rendered":"\n<style>\n.responsive-img {\n    width: 100%;\n    max-width: 680px;\n    height: auto;\n    display: block;\n    margin: 12px auto;\n}\n<\/style>\n\n<p style=\"font-size:14px; font-family:Tahoma, Geneva, sans-serif;\">\nIt genuinely makes us <strong style=\"color:#e74c3c;\">cringe<\/strong> every time we hear <strong>Michael Saylor<\/strong> encouraging his followers to <strong style=\"color:#27ae60;\">take out<\/strong> <strong>margin loans<\/strong>, <strong>home-equity loans<\/strong>, <strong>second mortgages<\/strong>, <strong>credit lines<\/strong>, <strong>credit-card loans<\/strong>, and <strong>student loans<\/strong>\u2014essentially any form of <strong style=\"color:#2980b9;\">leverage<\/strong> imaginable\u2014to buy shares of <strong>Strategy (MSTR)<\/strong>.\n<\/p>\n\n<p style=\"font-size:14px; font-family:Tahoma, Geneva, sans-serif;\">\nExactly one year ago, NIA released an alert entitled <strong>\u201cThe Only Bitcoin Chart That Matters.\u201d<\/strong> \n<strong><a href=\"https:\/\/www.inflation.us\/news\/articles\/the-only-bitcoin-chart-that-matters\/\">Click here<\/a><\/strong> to read. \nIn that alert, we highlighted the <strong>Bitcoin\/TQQQ (NASDAQ triple-leveraged ETF) ratio<\/strong>, which stood at <strong>1,267<\/strong>\u2014far above its 7-year average of <strong>705<\/strong>. \nThis <strong style=\"color:#2980b9;\">signaled<\/strong> with <strong style=\"color:#2980b9;\">near certainty<\/strong> that <strong>Bitcoin<\/strong> was nearing a \n<strong>secular <span style=\"color:#27ae60;\">bull<\/span> market <span style=\"color:#e74c3c;\">peak<\/span><\/strong>.\n<\/p>\n\n<p style=\"font-size:14px; font-family:Tahoma, Geneva, sans-serif;\">\nAt the time, NIA <strong style=\"color:#e74c3c;\">warned<\/strong>, \n<strong>\u201cBitcoin is nothing but a <span style=\"color:#2980b9;\">super-leveraged<\/span>, <span style=\"color:#e74c3c;\">risk-on<\/span> <span style=\"color:#27ae60;\">asset<\/span> and it is approaching the <span style=\"color:#e74c3c;\">peak<\/span> of the 2017 and 2021 bubbles.\u201d<\/strong> \nThat warning proved <strong style=\"color:#2980b9;\">accurate<\/strong>. \nIn April 2025, the <strong>Bitcoin\/TQQQ ratio<\/strong> \n<strong style=\"color:#2980b9;\">surged<\/strong> to a <strong style=\"color:#27ae60;\">new all-time high<\/strong> of <strong>2,133<\/strong> (TQQQ executed a 2-for-1 split yesterday, so we adjusted the chart)\u2014almost <strong style=\"color:#27ae60;\">triple<\/strong> its long-term average.\nToday, the ratio has fallen to <strong>922<\/strong> yet still sits above its 8-year mean of <strong>773<\/strong>.\n<\/p>\n\n<img decoding=\"async\" src=\"https:\/\/www.inflation.us\/news\/wp-content\/uploads\/2025\/11\/btcusdtqqq.jpg\" alt=\"Bitcoin TQQQ Chart\" class=\"responsive-img\" \/>\n\n<p style=\"font-size:14px; font-family:Tahoma, Geneva, sans-serif;\">\nThis makes two things overwhelmingly clear:<br>\n1) <strong>Bitcoin has already <span style=\"color:#e74c3c;\">peaked<\/span> for this cycle and possibly for the next decade.<\/strong><br>\n2) <strong>Bitcoin remains <span style=\"color:#e74c3c;\">overvalued<\/span> and is likely to <span style=\"color:#e74c3c;\">decline dramatically<\/span> in 2026.<\/strong>\n<\/p>\n\n<p style=\"font-size:14px; font-family:Tahoma, Geneva, sans-serif;\">\nIn that same alert, NIA wrote: \n<strong>\n\u201cIt is very obvious that Augusta Gold (TSX: G) will be <span style=\"color:#27ae60;\">acquired<\/span>, \nwhereas <span style=\"color:#e74c3c;\">nobody<\/span> will ever consider acquiring MSTR at a valuation equal to <span style=\"color:#27ae60;\">4\u00d7<\/span> the NAV of its Bitcoin holdings. \nIf you read the Solaris Resources (TSX: SLS) press release from yesterday and the quote from Augusta Gold (TSX: G) Executive Chairman Richard Warke at the bottom, he seems <span style=\"color:#2980b9;\">much smarter<\/span> than Michael Saylor\u2014like he actually knows what he is doing vs. Saylor <span style=\"color:#2980b9;\">purposely trying to create<\/span> a <span style=\"color:#e74c3c;\">financial crisis<\/span> similar to 2008.\u201d\n<\/strong>\n<\/p>\n\n<p style=\"font-size:14px; font-family:Tahoma, Geneva, sans-serif;\">\nNot only was <strong>Augusta Gold (TSX: G) <span style=\"color:#27ae60;\">acquired<\/span><\/strong> by \n<strong>AngloGold Ashanti (AU)<\/strong> at a <strong style=\"color:#2980b9;\">huge premium<\/strong>, \nbut <strong>Richard Warke<\/strong> has been <strong style=\"color:#27ae60;\">executing<\/strong> <strong style=\"color:#2980b9;\">perfectly<\/strong> at <strong>SLS<\/strong>. \nSince NIA\u2019s alert: <strong>Michael Saylor\u2019s MSTR<\/strong> has <strong style=\"color:#e74c3c;\">collapsed by 62.62%<\/strong>, \nwhile <strong>Richard Warke\u2019s SLS<\/strong> has <strong style=\"color:#27ae60;\">surged by 127.36%<\/strong>.\n<\/p>\n\n<img decoding=\"async\" src=\"https:\/\/www.inflation.us\/news\/wp-content\/uploads\/2025\/11\/solarisresourcesvsmichaelsaylorsposcompanystrategymstr.jpg\" alt=\"SLS vs MSTR Chart\" class=\"responsive-img\" \/>\n\n<p style=\"font-size:14px; font-family:Tahoma, Geneva, sans-serif;\">\nThere\u2019s <strong><span style=\"color:#e74c3c;\">zero<\/span> <span style=\"color:#2980b9;\">credible<\/span> evidence<\/strong> that <strong>Michael Saylor<\/strong> has ever \n<strong style=\"color:#2980b9;\">demonstrated<\/strong> the kind of \n<strong style=\"color:#27ae60;\">repeatable, operational, cash-flow-compounding shareholder value creation<\/strong> \nthat <strong>Richard Warke<\/strong> is known for. \n\n<p style=\"font-size:12px; font-family:Tahoma, Geneva, sans-serif;\">\n<em>Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research. This message is meant for informational and educational purposes only and does not provide investment advice.<\/em>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It genuinely makes us cringe every time we hear Michael Saylor encouraging his followers to take out margin loans, home-equity loans, second mortgages, credit lines, credit-card loans, and student loans\u2014essentially any form of leverage imaginable\u2014to buy shares of Strategy (MSTR). Exactly one year ago, NIA released an alert entitled \u201cThe Only Bitcoin Chart That Matters.\u201d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5216,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[48,104,12,9,176,32,8],"class_list":["post-5215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-copper","tag-crypto","tag-g","tag-gold","tag-mstr","tag-sls","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts\/5215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/comments?post=5215"}],"version-history":[{"count":4,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts\/5215\/revisions"}],"predecessor-version":[{"id":5546,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/posts\/5215\/revisions\/5546"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/media\/5216"}],"wp:attachment":[{"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/media?parent=5215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/categories?post=5215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.inflation.us\/news\/wp-json\/wp\/v2\/tags?post=5215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}