Buying Bitcoin with Operating Profit: Wall Street's Tether Capital, Merger of Mining and Remittance Settlement Companies | Seo Dong-ju, Kim Dong-hwan, Baek Hoon-jong CEO of SmashFi [Crypto PLUS]

Summary

The video covers the Bitcoin 2026 conference in Las Vegas, highlighting the merger of Strike, 21.co, and Electron Energy to form an operating-income-driven Bitcoin company. Baek Hoon-jong, CEO of SmashFi, contrasts this model with Strategy's debt-based approach and predicts a rotation of mining companies back to Bitcoin from AI. The discussion also touches on the rise of Bitcoin yield products, Tether's Lightning integration, and quantum computing risks.

• Bitcoin 2026 conference drew over 40,000 attendees despite a bear market.
• Strike, 21.co, and Electron Energy announced a three-way merger to create an operating-income-focused Bitcoin company.
• Baek Hoon-jong prefers the new model over Strategy's debt-heavy approach because it generates cash flow to buy Bitcoin.
• Bitcoin mining companies that pivoted to AI are expected to return to mining as AI overvaluation emerges.
• The conference highlighted a surge in Bitcoin-based yield products and decentralized finance solutions.
• Tether is actively using the Bitcoin Lightning network for payments, with a wallet and merchant partnerships.
• Quantum computing risks and the fate of Satoshi's coins were major discussion topics at the event.
• Home mining and technological advances are expanding the mining ecosystem.