A very interesting piece of news came out today. Adam Back, the creator of Bitcoin’s core technology Hashcash, is launching a new company — the Bitcoin Standard Treasury Company (BSTR). It will be a direct competitor to Michael Saylor’s Strategy (formerly MicroStrategy), which is known for its aggressive Bitcoin accumulation. But BSTR promises to accumulate even more aggressively.
The entire foundation of BSTR’s strategy is the idea that governments will begin buying BTC as a reserve currency (some already are). In my view, the strategy’s core assumption is weak — but the news itself is bullish for Bitcoin’s price. And BSTR is launching at exactly the right moment, with Bitcoin already significantly down from its all‑time high.
