Live from BTC Prague - Day 2
Спикеры
Stephane de La Faverie
— CEO, Estée Lauder Companies
Larry Serach
— Президент, The Block
Mauricio D. Batomeo
— Co-founder, Leen
Freddy New
— CEO, Bhuddle
The second day of BTC Prague features interviews with Stephan La, Freddy New, Mauricio D. Batomeo, Larry Serach, Ephra Finson, and Danny Sanders. Conversations span Bitcoin market outlook, the role of Bitcoin treasury companies, Lightning-based payments, Bitcoin-backed lending, self-custody, and the future of Ethereum. Key investment views include a bullish Bitcoin call with a power-law thesis, a levered long on MicroStrategy as a Bitcoin proxy, caution on Bitcoin short-term due to Strategy’s overhang, and bullish takes on Hyperliquid and Zcash as standout tokens.
- Stephan La is wildly bullish on Bitcoin, citing power-law growth and the bear market being the best time to buy.
- He also views good Bitcoin treasury companies, specifically Strategy (MicroStrategy), as levered ways to outrun Bitcoin and attract new capital.
- Freddy New describes Bhuddle as a UK-listed Bitcoin treasury company that actively uses its Bitcoin for Lightning payments.
- Mauricio D. Batomeo highlights Leen’s investment-grade S&P-rated bond as the first rated Bitcoin debt instrument, signaling institutional appetite.
- Larry Serach warns that Bitcoin faces short-term downside risk because Strategy’s large leveraged position creates an overhang that may suppress buying.
- He identifies Hyperliquid and Zcash as the only tokens with real demand, driven by fundamentals and privacy narrative, while calling Ethereum structurally challenged.
- Ephra Finson and Danny Sanders talk about Bitcoin’s role in freedom, self-custody, and the hardware wallet landscape, with Trezor touting its open-source security legacy.
Идеи
MSTR can outperform Bitcoin via leverage.
Good Bitcoin treasury companies like Strategy (MicroStrategy) can outrun Bitcoin by using leverage from debt and equity issuance, attracting capital that wouldn't otherwise flow into Bitcoin. Despite custody and dilution risks, they are a net positive force for Bitcoin adoption.
Buy Bitcoin now, best time.
Short-term Bitcoin faces a significant overhang from Strategy's large leveraged position (4% of supply), which may force selling if Bitcoin does not rise. Large investors are hesitant to allocate, making more downside likely. He would not be surprised if current levels are not the bottom.
Hyperliquid leads on fundamentals and demand.
Hyperliquid has outcompeted all other protocols in decentralized perpetuals for fundamental reasons, and is one of the very few tokens with a real bid in a dead market. It is performing well amid widespread token weakness.
Zcash benefits from privacy narrative.
Zcash has benefited from a strong narrative around privacy and increasing discourse. It is one of the few tokens where people are buying for fundamental reasons, making it an outlier performer in the current market.
Ethereum faces challenges, avoid for now.
Ethereum has lost its edge due to poor leadership, inability to attract normal users, and Solana's challenge. The assumption that Ethereum will always be the winning smart-contract chain is broken, making it difficult for large allocators to commit. It will struggle unless the foundation makes drastic changes.
Далее
This The Block video, published June 12, 2026, features Stephane de La Faverie, Larry Serach discussing MSTR, BTC, HYPE, ZEC, ETH. 5 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Stephane de La Faverie, Larry Serach · Tickers: MSTR, BTC, HYPE, ZEC, ETH