[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Brad Mills 🔑⚡️ [@bradmillscan](/creator/twitter/bradmillscan) on x 80.1K followers Created: 2025-07-21 16:27:48 UTC Tell your grandma when her broker calls to sell a hot new crypto stock she should say "Thank you dear but I already have my full line of Fartcoin & WIF, I can't carry anymore." This is turning into 2017 ICOs. Be careful out there folks. Betting on multiple BTCTCs in one jurisdiction is making less & less sense with the incoming DAT Bubble. Short term speculators will be drawn to the volatility of shitstonks. Bitcoin is bootstrapping its way to a global reserve asset. It's going to $XX million, it'll be up there with bonds as a primary sovereign settlement & reserve asset. Corp buys BTC in clownworld, it gets a NAV premium, cool. Many say high mNAV is a bubble that will pop, but there's trillions of trapped capital in fiat markets that will be allocating to BTCTCs that are clearly communicating their plan. They get rewarded with a high NAV multiple when they create "bitcoin torque" by executing the plan to increase bitcoin-per-share relentlessly & intelligently (ATMs at high mNAV, debt issuance at low interest, accretive preferred issuance, etc). These BTCTCs do not use too much leverage, they are disclosing everything ... they aren't trying to get fancy by borrowing against it like celsius, or trying to earn yield on it like greyscale or 3AC. They are using Bitcoin as a growth engine, harnessing the high% ARR & their business model is acquiring more BTC intelligently. What we're starting to see is the arrival of all the crypto opportunists & grifters with their STDs (shitcoin treasury deals.) THIS is what's going to cause the next crash, and it's not going to affect bitcoin as much in the SaylorCycle, unless they inevitably start realizing they need to hoover up Bitcoin to compete (like Anchor did). What caused the 2018/2019 crash was all these ICOs with huge treasuries in ETH & BTC (primarily ETH) building these ginormous teams that was all designed around fantasy economics of tokenomics & MV=PQ nonsense. None of them made any money, they all just issued tokens and held huge treasuries of ETH. When the bubble popped, these companies had huge teams and they had to sell off their treasuries ... it was a game of chicken ... as long as nobody sold their ETH, the true scale of how horrible things were on paper wouldn't be realized ... but when teams started making the choice to sell instead of lay off staff, it became a race to see who could sell first. The liquidity disappeared for the tokens, and the ETH price cratered as it was now a competition to see who could lock in the most amount of fiat to keep their company alive the longest. This is what I see coming with "DATs" ... If all you are doing is building a treasury of a useless shitcoin, and then you start playing the game of "what is my differentiating factor" you start getting cute with it. We are an ETH Treasury Company that stakes! We are and ETH Treasury Company that earns yield in DeFi! We are an ETH Treasury Company that borrows on Liquity & can't be liquidated! We are an ETH Treasury Company that shorts SOL Treasury Companies! Now you pair this with Trump’s "crime is legal" red wave and you're going to see Wall St getting involved in this in the exact same way that they created the derivatives bubble in the 1990s. We're likely going to see a bunch of these shitcoin treasury company products bundled with high yield “DAT debt” & Bitcoin & US Bonds. It will be highly rated. It'll be a "triple A rated Crypto bond" but behind the scenes it will be no different than the garbage that Wall St sold to pension funds & municipalities in the 1990s ... random bets on interest rates in Mexico or other casino machinations that ended up blowing & going to zero. There's going to be big money to be made playing this bubble, but in the bear it will be the corp HODLers of last resort that keep the bear price of Bitcoin much higher ... I could see a XX% drawdown for Bitcoin in a bad bear market. STDs will be done XX% just like alts in the bear. Stack sats. XXXXX engagements  **Related Topics** [volatility](/topic/volatility) [bubble](/topic/bubble) [fartcoin](/topic/fartcoin) [coins solana ecosystem](/topic/coins-solana-ecosystem) [coins meme](/topic/coins-meme) [coins pump fun](/topic/coins-pump-fun) [Post Link](https://x.com/bradmillscan/status/1947332691902558719)
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Brad Mills 🔑⚡️ @bradmillscan on x 80.1K followers
Created: 2025-07-21 16:27:48 UTC
Tell your grandma when her broker calls to sell a hot new crypto stock she should say "Thank you dear but I already have my full line of Fartcoin & WIF, I can't carry anymore."
This is turning into 2017 ICOs. Be careful out there folks.
Betting on multiple BTCTCs in one jurisdiction is making less & less sense with the incoming DAT Bubble.
Short term speculators will be drawn to the volatility of shitstonks.
Bitcoin is bootstrapping its way to a global reserve asset. It's going to $XX million, it'll be up there with bonds as a primary sovereign settlement & reserve asset.
Corp buys BTC in clownworld, it gets a NAV premium, cool.
Many say high mNAV is a bubble that will pop, but there's trillions of trapped capital in fiat markets that will be allocating to BTCTCs that are clearly communicating their plan.
They get rewarded with a high NAV multiple when they create "bitcoin torque" by executing the plan to increase bitcoin-per-share relentlessly & intelligently (ATMs at high mNAV, debt issuance at low interest, accretive preferred issuance, etc).
These BTCTCs do not use too much leverage, they are disclosing everything ... they aren't trying to get fancy by borrowing against it like celsius, or trying to earn yield on it like greyscale or 3AC.
They are using Bitcoin as a growth engine, harnessing the high% ARR & their business model is acquiring more BTC intelligently.
What we're starting to see is the arrival of all the crypto opportunists & grifters with their STDs (shitcoin treasury deals.)
THIS is what's going to cause the next crash, and it's not going to affect bitcoin as much in the SaylorCycle, unless they inevitably start realizing they need to hoover up Bitcoin to compete (like Anchor did).
What caused the 2018/2019 crash was all these ICOs with huge treasuries in ETH & BTC (primarily ETH) building these ginormous teams that was all designed around fantasy economics of tokenomics & MV=PQ nonsense. None of them made any money, they all just issued tokens and held huge treasuries of ETH.
When the bubble popped, these companies had huge teams and they had to sell off their treasuries ... it was a game of chicken ... as long as nobody sold their ETH, the true scale of how horrible things were on paper wouldn't be realized ... but when teams started making the choice to sell instead of lay off staff, it became a race to see who could sell first.
The liquidity disappeared for the tokens, and the ETH price cratered as it was now a competition to see who could lock in the most amount of fiat to keep their company alive the longest.
This is what I see coming with "DATs" ... If all you are doing is building a treasury of a useless shitcoin, and then you start playing the game of "what is my differentiating factor" you start getting cute with it.
We are an ETH Treasury Company that stakes! We are and ETH Treasury Company that earns yield in DeFi! We are an ETH Treasury Company that borrows on Liquity & can't be liquidated! We are an ETH Treasury Company that shorts SOL Treasury Companies!
Now you pair this with Trump’s "crime is legal" red wave and you're going to see Wall St getting involved in this in the exact same way that they created the derivatives bubble in the 1990s.
We're likely going to see a bunch of these shitcoin treasury company products bundled with high yield “DAT debt” & Bitcoin & US Bonds. It will be highly rated. It'll be a "triple A rated Crypto bond" but behind the scenes it will be no different than the garbage that Wall St sold to pension funds & municipalities in the 1990s ... random bets on interest rates in Mexico or other casino machinations that ended up blowing & going to zero.
There's going to be big money to be made playing this bubble, but in the bear it will be the corp HODLers of last resort that keep the bear price of Bitcoin much higher ... I could see a XX% drawdown for Bitcoin in a bad bear market.
STDs will be done XX% just like alts in the bear.
Stack sats.
XXXXX engagements
Related Topics volatility bubble fartcoin coins solana ecosystem coins meme coins pump fun