Huge thanks to my February sponsor, John Rember, author of the three-book series Journal of the Plague Years, a psychic survival guide for humanity’s looming date with destiny, shaped by his experiences living through the pandemic in his native Idaho. Thoughtful, wry and humane, Journal 1 is a pleasure.
“Flawed economic models mean the accelerating impact of the climate crisis could lead to a global financial crash, experts warn.
“Recovery would be far harder than after the 2008 financial crash, they said, as “we can’t bail out the Earth like we did the banks”.”
“Greenland shatters temperature record, redrawing economy from fishing to minerals.
“Greenland, the Arctic island coveted by U.S. President Donald Trump, experienced its warmest January on record this year, as a rate of warming four times faster than the global average redraws the outlook for sectors from fishing to mining.”
“What is groundwater flooding and why Dorset is seeing ‘historical highs’ [UK]
“”When the water table rises and reaches ground level, water starts to seep through to the surface and flooding can happen,” the EA says. That means it may rise up through floors or underground rooms such as cellars and basements.”
https://www.bbc.co.uk/news/articles/cj4l7rlxzjxo
“A UK climate security report backed by the intelligence services was quietly buried – a pattern we’ve seen many times before…
“This episode is not even especially unusual, historically. Governments have been receiving warnings about climate change – and downplaying or delaying responses – for decades.”
“Europe’s public finances in a warming world.
“Climate change is increasingly shaping macro-fiscal outlooks. Extreme weather events, chronic damages from global warming, and decarbonisation efforts all have growing implications for public finances and the economy.”
https://cepr.org/voxeu/columns/europes-public-finances-warming-world
“Photos: exceptional storm floods Antibes streets. Three weeks’ worth of rain fell in just a few hours…
“Locals took to social media to share images and videos of the continuous rainfall, lightning, and hailstones which caused streets to quickly fill with water…”
https://www.connexionfrance.com/news/photos-exceptional-storm-floods-antibes-streets/767706
“Rising rivers and deadly floods slam Portugal as Storm Leonardo hits.
“Portugal faces floods and evacuations as Storm Leonardo swamps rivers and streets, after deadly weather in Spain and weeks of storms across Iberia… Portuguese civil protection said thousands of incidents were reported…”
“Andalucian mountain town soaks in an astonishing 500mm of rain in just 24 hours – obliterating 78-year record [Spain].
“Grazalema, the picturesque pueblo blanco in the Cadiz mountains, recorded a staggering 512.5mm [20+ inches] of rain in a single 24-hour period ending at 8pm on Wednesday…. it has annihilated the town’s previous daily rainfall record – which had stood for nearly eight decades.”
https://www.theolivepress.es/spain-news/2026/02/04/grazalema-rain-record-24-hours/
“Tornado Strikes Corfu as Heavy Rain Triggers Flooding in Kefalonia.
“Severe weather hit the Ionian Islands with force, as a tornado struck a village in Corfu and caused extensive damage, while heavy rainfall in Kefalonia triggered flooding in several areas… Authorities continue to closely monitor the evolving conditions.”
“Morocco evacuates over 100,000 people from 4 provinces after floods.
“Authorities set up emergency shelters and reception centers and provided essential assistance to those affected by the floods, the ministry said, adding that the measures aim to reduce the impact of the disaster and ensure public safety.”
“EXTRAORDINARY. >170 countries are breaking heat records. In Particular the tropics of all Continents are with unprecedented heat.
“Central Africa has been with record heat for months, every single day. Last record: 35.7 [96.3F] Franceville GABON. February record smashed.”
https://x.com/extremetemps/status/2019076799502963010
“Prolonged rainfall delays harmattan, disrupts crop fruiting season [Nigeria].
“The unusually prolonged rainfall recorded in January and February 2026, well outside the typical 2025 rainy season cycle, has raised concerns among farmers, who fear it could disrupt the fruiting cycle of key economic trees…”
“SOUTH AFRICA RECORD HEAT: one after another like an unstoppable factory, South Africa keeps breaking records continuously.
“February hottest night in history in many stations; MINIMUMS: 22.2 Stillbaai, 22.9 Somerset East, 23 Grahamstown, 23 [73.4F] Cape St Francis, 24.2 Uitenhage, 25.3 Pennington.”
https://x.com/extremetemps/status/2019059864186605973
“South Africa classifies drought, water shortages as national disaster…
“Elias Sithole, head of the National Disaster Management Center in the CoGTA, said that the decision was made “after having considered reports submitted on drought and the possible interruption of large scale water provision by organs of state in terms of the potential impact and magnitude in the Eastern Cape, Western Cape and Northern Cape.””
https://english.news.cn/20260205/9e515e9b923041b28bfea1cb35a5c5ac/c.html
“‘We have to rebuild’: Mozambique flood victims persevere in face of loss…
“This season, heavy rains and overflowing rivers have resulted in floods, which authorities say are some of the worst in decades, killing more than 150 people and affecting an estimated 800,000 people…”
“HISTORIC HEAT all over the tropics continue… 35.5 [95.9F] Juan de Nova Island. FRENCH SOUTHERN TERRITORY HOTTEST FEBRUARY DAY IN HISTORY.
“The area has been with relentless record heat since early 2014 breaking and rebreaking records continuously.”
https://x.com/extremetemps/status/2019056633511641462
“Amid worsening drought and crop failure, Zimbabweans support government investment in climate-resilient infrastructure, green energy.
“The country’s major challenges include reduced and erratic rainfall (Government of Zimbabwe & UNDP, 2017). Whereas droughts occurred in one in 10 growing seasons between 1902 and 1979, their frequency increased to one in four between 1980 and 2011.”
“Why Israel’s Vulture Population Isn’t Recovering…
“Poisoning has been harming Israel’s vultures for roughly three decades, with cumulative damage pushing the species toward critical endangerment. A series of mass poisonings over the years wiped out, among other sites, the country’s largest breeding colony at the Gamla Nature Reserve in the Golan Heights.”
“On Wednesday, February 4, the Mehr News Agency reported that Tehran is approaching what officials call “water tension,” a situation where supply can no longer meet demand.
“The warning comes after months of recurring water cuts across different parts of the city, with residents experiencing outages lasting several hours at a time.”
“FAO Warns of Unseasonably Warm Conditions Across Afghanistan.
“The United Nations Food and Agriculture Organization (FAO) has warned that unusually warm temperatures are expected across much of Afghanistan in the coming days, raising concerns about water availability and long-term agricultural impacts.”
https://kabulnow.com/2026/02/fao-warns-of-unseasonably-warm-conditions-across-afghanistan/
“A dam threatens Nepal’s Indigenous community; they want it on the ballot.
“Residents of Mulkharka, largely from the Indigenous Tamang community, learned only in 2023 about plans for the Nagmati Dam near their settlement on the northern edge of Kathmandu and now strongly oppose it…”
“Compound Heat-Drought Threatens China’s Oil Crops…
“A groundbreaking study led by Guo, S., Zhao, C., Jin, Z., and colleagues delves into this alarming phenomenon with a specific focus on oil crop production across China, revealing how the interplay of temporal and spatial extremes critically undermines crop yields and threatens agricultural sustainability.”
https://bioengineer.org/compound-heat-drought-threatens-chinas-oil-crops/
“At least 35 killed after weeks of heavy snowfall in Japan.
“At least 35 people have been killed and nearly 400 injured after an extended period of extreme snowfall dumped up to 6.5 feet (about 2 meters) of snow across parts of northern Japan, with authorities now warning that rising temperatures could trigger dangerous avalanches”
“Flash floods hit parts of Lahad Datu following hours of heavy rain. [Malaysia].
“On social media, the situation appeared serious, with videos and photos showing vehicles being swept away by strong currents, along with a wooden stilt house reportedly carried off by floodwaters.”
“Floods Inundate Pemalang Again [Java].
“Heavy rain that pounded Pemalang Regency on Wednesday night (February 4, 2026) again triggered flooding in several areas. This incident, the third recorded in February 2026, underscores the ongoing challenges of flood control…”
“More than 80% of flying fox colony wiped out as January heatwaves kill thousands of bats [South Australia]…
““It’s a devastating loss of numbers,” said Judith Bemmer, a carer at Bat Rescue SA. Among the surviving 180 animals, about 34 underweight and dehydrated babies were rescued, and would face months of recovery.”
https://www.theguardian.com/environment/2026/feb/05/flying-foxes-january-heatwaves-kill-thousands
“Heat waves kill thousands of fish in Australia.
“Most of the dead fish, found at Sunset Strip on the banks of Lake Menindee, were native bony bream, along with some carp, ABC News reported. The die-off followed last week’s record-breaking temperatures that peaked near 50 degrees Celsius (122 Fahrenheit).”
https://www.aa.com.tr/en/asia-pacific/heat-waves-kill-thousands-of-fish-in-australia/3819850
“After the historic January heat wave, February started with some cold records in AUSTRALIA:
“February records low: 0.8 Coonawarra, 3.0 Windy Harbour, 3.9 King Island; Low maxes: 23.9 Victoria River Downs, 22 Lajamanu. Cool also in New Zealand with afternoon temps in the 10s in the South.”
[Extreme Temps]
https://x.com/extremetemps/status/2018644629269442665
“Melting Antarctic ice may weaken a major carbon sink.
“Melting ice from West Antarctica once delivered huge amounts of iron to the Southern Ocean, but algae growth did not increase as expected. Researchers found the iron was in a form that marine life could not easily use. This means more melting ice does not automatically boost carbon absorption.”
https://www.sciencedaily.com/releases/2026/02/260204042457.htm
“‘Doomsday Glacier’ is melting faster than we thought. Can a 150-metre wall stop it flooding Earth?
“Located on the West Antarctic Ice Sheet, Thwaites Glacier earned its apocalyptical name due to its potential impact on sea levels. Covering a vast 192,000 km², making it comparable in size to Great Britain… can the consequences of climate change really just be barricaded off?”
“HISTORIC WARMTH IN OCEANIA. Min 28.3C [82.9F] Majuro is FEBRUARY HOTTEST NIGHT EVER RECORDED IN MARSHALL ISLANDS.
“Also, record warm night again in MICRONESIA. The Min of 28.0 on Feb 2nd in Pohnpei was the February warmest night in history.”
https://x.com/extremetemps/status/2018876888958271776
“2025 was Hawai‘i’s second driest, warmest year on record, new report confirms.
“Hawai‘i experienced its second driest year in more than a century. Alongside drought, the state saw persistently above-average temperatures throughout the year, according to the inaugural Hawai‘i Annual Climate Report for 2025.”
“Austerity hinders fight against wildfires in Argentina’s Patagonia.
“Wildfires are sweeping through Argentina’s Patagonia region, consuming more than 450sq km (175sq miles) of native forests, including parts of the UNESCO World Heritage Site of Los Alerces National Park.”
“Severe storm floods Itaperuna and raises alert for climate disasters in Northwest Fluminense [Brazil].
“In less than an hour, rain gauges recorded 76 millimeters of rain, a volume almost four times greater than the 19 millimeters predicted by Civil Defense for the entire period. The extreme rainfall transformed streets into muddy rivers, and images recorded by residents show vehicles being swept away…”
“70% of the department of Córdoba is flooded due to the winter storm. [Colombia].
“The National Federation of Cattle Ranchers (FEDEGAN) issued an urgent warning about the millions of dollars in losses that the winter storm is causing to cattle ranchers on the Caribbean Coast.”
“Cuba records first freezing temperature amid deepening energy crisis.
“Cuba experienced its coldest temperature on record on February 3 when the mercury dropped to zero degrees Celsius, an unprecedented event for the Caribbean island nation that comes as it faces an acute energy crisis triggered by dwindling oil supplies and mounting US pressure…”
“This week’s cold blast was a total freak-show. Dozens of record lows were broken. That just doesn’t happen in Florida anymore – until now.
“Since 2020, Tampa and Miami have only had 1 record low each – both this season. Ft Myers 2. But each city has had well over 100 record highs! Yeah, record highs are outnumbering record lows ~100 to 1 there. That’s how freakish this week’s cold has been.” [Jeff Berardelli]
https://x.com/WeatherProf/status/2019033879026213364
“The cold arriving in the Northeast and Mid-Atlantic this weekend will be next level.
“Here’s why: The incoming air mass comes all the way from the Russian Arctic and will be passing the North Pole en route to the United States. This is known as cross-polar flow.”
[Ben Noll]
https://x.com/BenNollWeather/status/2019037095948693557
“Lake Erie Nears 100% Ice Coverage After Record Cold Stretch.
“It has been 30 years since the last time Lake Erie was 100% frozen over in February 1996. This year, however, Cleveland’s Great Lake has come extremely close… As of Feb. 3, 2026, Lake Erie is 94% frozen over…”
https://clevelandmagazine.com/articles/lake-erie-nears-100-ice-coverage-after-record-cold-stretch/
“Colorado River Negotiators Are Nearly Out of Time and Snowpack.
“With another federal deadline only weeks away and record-low snowfall further drying out the watershed, states have begun talking about whether they are prepared for litigation… as the Feb. 14 deadline looms, basin states, particularly Arizona and Colorado, have begun discussing the prospect of settling their disputes in court.”
https://insideclimatenews.org/news/04022026/colorado-river-record-low-snow-litigation/
“Ohio farmers face weather whiplash.
“Last spring, many Ohio farmers struggled to plant their corn and soybeans because persistent rain made their fields too soggy to work. But by August, many farmers faced the opposite problem. Drought plagued much of the state.”
https://yaleclimateconnections.org/2026/02/ohio-farmers-face-weather-whiplash/
“All-time driest January for two Okanagan cities [BC, Canada].
“It’s s been a drier-than-normal January in many parts of B.C., but particularly in the Okanagan. Two cities set all-time records. As Travis Lowe reports, if the pattern continues, it could be cause for concern on the wildfire front.”
https://globalnews.ca/video/11653298/all-time-driest-january-for-two-okanagan-cities/
“EXCEPTIONAL WARMTH IN CANADA. Summer day with temperatures up to 20.6C [69.1F] in Alberta and 19.5C in British Columbia.
“Several records of February high Temperature pulverized: 20.3 Bow Island, 19.5 Bella Bella, 18.5 Brooks, 18.1 Tatlayoko Lake etc.”
https://x.com/extremetemps/status/2019230031579607468
“Record warmth moves into Alaska, with colder weather along the Slope…
“Following record warmth through parts of Southeast Tuesday, another warm stretch of weather remains with the panhandle. We’ll keep waves of rain in the forecast through the close of the week, with some dry time between each passing storm.”
“January’s record snowfall in Southcentral Alaska has created dangerous avalanche conditions across Alaska’s backcountry, burying weak snow layers that could trigger deadly slides even for experienced snowmachine riders.
““We’ve got three inches of precipitation and 40 inches of snow in town. So that’s really unusual,” John Sykes, Avalanche Forecaster for Chugach National Forest Avalanche Center, said.”
“January 2026 Arctic sea ice extent was statistically tied (with last year) for the 2nd lowest on record for the month…
“This was 1,310,000 km² below the 1981-2010 average. January ice extent is decreasing at about 2.85% per decade.” [Zack Labe]
https://bsky.app/profile/zacklabe.com/post/3mdymqznbhc24
“Critical moment when El Niño started to erode Russia’s Arctic sea ice discovered.
“Scientists discover a tipping point that took place in 2000, where El Niño’s effect on sea ice loss in Siberia was amplified… After the year 2000, the transitions out of El Niño started to speed up, possibly due to interactions with the Pacific Decadal Oscillation…”
“El Niño update: Westerly wind bursts during January were very unusual and record-breaking in some areas.
“Warm water is now moving across the subsurface Pacific and will probably start to surface in February and March. By mid-2026, ocean-atmosphere El Niño coupling is possible. [Ben Noll]
https://x.com/BenNollWeather/status/2019070943969128835
“Daily global Sea Surface Temperatures are now 0.18°C above 2023, with identical La Niña temperatures in the tropical Pacific.
“Hold on to your hats.” [Leon Simons]
https://x.com/LeonSimons8/status/2018716403759542705
“Don’t put blind faith in climate models:
“”Because tipping points are hard to model with any precision, and harder still to predict, they are often left out of climate projections — and hence are still largely ignored by climate negotiators””.
https://x.com/LeonSimons8/status/2019228790593839231
“Extreme Weather Fuels Volatility Across the Global Olive Oil Market.
“Localized extreme climate events are increasingly triggering cascading effects across the global olive oil market, with irregular harvests feeding price volatility, trade tensions and subtle shifts in traditional diets.”
“I’m a prepping expert – this is how I’m getting ready for water shortages.
“Start with some Jerry cans. “I have a couple of 20 litre Jerry cans [they look like petrol containers] for water. You can get them from army surplus stores [for around £30 depending on the brand, and the World Health Organisation recommends two litres per person per day.”
https://inews.co.uk/inews-lifestyle/prepping-expert-getting-ready-for-water-shortages-4209449
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You can read the previous “Climate” thread here. I’ll be back tomorrow with an “Economic” thread.
Nothing to do with today’s report but I was reading up on the Kessler Syndrome yesterday (thanks Leaf) and came across a few stories about sunspot region 4366, which appeared suddenly a few days ago and is putting out some strong flares. From the article: Intense solar radiation storms can have adverse consequences, such as radio blackouts, GPS disruptions, and damage to satellites and spacecraft.
https://www.livescience.com/space/the-sun/sunspot-launches-27-solar-flares-in-24-hours-including-strongest-outburst-in-years
Just another thing to throw in the mix…Meh.
If any readers are feeling particularly bummed out, perhaps these flares are playing a role:
“Does solar activity affect human happiness?
“…Babayev & Allahverdiyeva study the effect of geomagnetic variability on brain functioning using EEG and find that abrupt changes in geomagnetic variability have strong negative effects mainly on emotional parts of …the brain. Some studies take the effect of solar activity even further, e.g. Mikulecky finds that historical revolutions culminated close to solar activity maxima…”
https://www.sciencedirect.com/science/article/abs/pii/S0378437117310415
Anytime Flippr!
My click rate on these links is getting abysmal, probably in the low single- digits, so I guess my brain is basically running down to idle status.
However, today’s The Conversation piece, unlike its usual mush, is pretty good on the sober truth scale. The author’s blog seems righteous and caustic – so what can he possibly teach at the University of Sussex Business School?
Speaking of truth, I hope the Wiz is ok – I assume he lost that bet on the govt shutdown. Please don’t bet any more of your hard-earned money.
Martin, he is a research fellow at Sussex Uni, so probably doesn’t do much teaching. His conclusion is on point:
“Here’s the final irony. Conspiracy theorists and climate deniers insist governments are exaggerating the threat. In reality, the evidence increasingly suggests the opposite… The situation is not better than we are told. It’s actually far worse.”
I hadn’t realised that poor Truth Wizard’s bet had gone south – the one time you’d actually want the blasted government to stay partially shut!
Encouraged by a couple of fluky and lucrative wins, I went on a boxing betting spree a few years ago. It ended painfully and now I have no stomach for gambling. Those bookies are hard to beat.
Another video from Mordecai Ogada, doing the thankless and repetitive but necessary task of explaining why carbon credits are a scam. Not the abuses or frauds in the carbon credits market that are sniffed out by the media but the premise itself is a scam – as Mordecai puts it, carbon credits do not exist.
https://www.youtube.com/watch?v=ejIFu3R5QK4
It reminded me of Osvaldo Zavala’s book ‘Drug cartels do not exist’. Needless to say, the title is not literal. Drug cartels do exist, but not in the way the state and media represent them. In the same way, carbon credits do exist. They are part of the financial apparatus of the “green transition” aka the streamlining of direct domestic FF consumption by displacing the least efficient parts of it to places where that inefficiency can be offset by the exploitation and dispossession of labour en masse. What doesn’t exist, and never has, is the green transition itself.
Jupiviv, I liked the first comment under Mordecai’s video. It has the ring of truth:
“They first came as missionaries, now they come as environmentalists.”
https://youtu.be/PsK4IfBJtVE?si=st97Fn5kCLUFcvCL
A good short haters guide to ai and bitcoin and ai scams they go into Ed zitron with pivot to ai its short and to the point
Heather, thank you – I thought I recognised the name, Ed Zitron:
“His blunt, brash scepticism has made the podcaster and writer something of a cult figure. But as concern over large language models builds, he’s no longer the outsider he once was…
“His tech newsletter, Where’s Your Ed At, now has more than 80,000 subscribers; his weekly podcast, Better Offline, is well within the Top 20 on the tech charts; he’s a regular dissenting voice in the media; and his subreddit has become a safe space for AI sceptics, including those within the tech industry itself – one user describes him as “a lighthouse in a storm of insane hypercapitalist bullshit”.”
https://www.theguardian.com/technology/2026/jan/19/ed-zitron-on-big-tech-backlash-boom-and-bust-ai-has-taught-us-that-people-are-excited-to-replace-human-beings
Re crypto:
“This is absolutely insane: On October 6th, crypto markets hit a record high market cap of $4.3 trillion. Today, the crypto market is worth just $2.3 trillion, losing -$2 TRILLION worth of market cap in 4 months.
“In other words, ~46% of crypto’s entire value has been wiped out since October 6th.”
https://x.com/KobeissiLetter/status/2019413451471483282
Though it’s really not directly related to the climate, it is directly to the observation of wee are going to burn every drop we can get our hands on….
California man arrested in DeKalb Co. with 600 gallons of diesel tied to multi-state theft scheme
https://www.waff.com/2026/02/03/california-man-arrested-dekalb-county-with-600-gallons-diesel-tied-multi-state-theft-scheme/?outputType=amp
During a search of the van, a bag containing electrical switches, wiring, remotes and battery packs was found, which raised suspicions when coupled with such a large amount of fuel in proximity.
It was discovered that Alvarez did not have a CDL or any proper paperwork or documentation required to haul fuel in Alabama.
After multiple other law enforcement agencies responded to the scene, investigators learned that Alvarez was conducting a “sophisticated multi-state diesel fuel theft which consisted of illegally hijacking diesel pumps at truck stops across the country.”
Alvarez allegedly traveled from New Jersey down the East Coast, gaining access to an unknown number of fuel pumps to “scam” the pumps into dispensing fuel without paying.
I was a teenager during the gas crisis in the 1970s and remember well the thefts were commonplace among car owners! I even had to buy a locking gas cap and a spring to prevent the siphoning of the tank….I’ll be prepared for the next time …
Get some good walking shoes
VPK, I too remember waiting in long, long lines to buy gas in the gas crisis. Back in the day, nearly all pickups had the gas tank behind the seat with the filler neck protruding outside. We were on ODD/EVEN gassing days so when I finally filled my tank it was a relief.
That night, some thief took a pipe wrench to my locking gas cap and drained the tank dry. Had to bicycle until my next fill-up day rolled around the second day ahead. Grrrr…
Yes, will need a good solid bike too. I own a vintage 10 speed Schwinn racer that was made in the USA, when quality mattered.
As a matter of fact, just saw a YouTube video on the Schwinn company, it’s rise and fall. Seems they missed the boat on the mountain bike surge and cheapened the product.
https://www.youtube.com/watch?v=YiCATHEwDCw
Oh well, at least I have great memories of my childhood with my pals
Vince, similar, if less sophisticated, crimes have been happening on these shores, too, eg:
“Cumbria Police are investigating a high-value theft of diesel from Crosby Moor Garage, located on the A689 near Carlisle.”
https://www.newsandstar.co.uk/news/25581339.high-value-diesel-theft-crosby-moor-garage-a689/
It’s metal that’s proving particularly tempting, though, thanks to elevated prices:
“Copper theft is hitting building sites, street lights – and now phones. How do we stop it? …a 2024 report found metal theft was costing the United Kingdom’s economy around £480 million (A$970 million) a year.”
https://theconversation.com/copper-theft-is-hitting-building-sites-street-lights-and-now-phones-how-do-we-stop-it-270781
I remember the gas wars where gas stations on four corners at traffic intersections would have signs 26.9/gal. & less, for just hours. I remember them changing sign prices at heavy traffic times.
Pan’s topmost post today:
Flawed economic models mean climate crisis could crash global economy, experts warn. “Recovery would be far harder than after the 2008 financial crash, they said, as “we can’t bail out the Earth like we did the banks.
——————–
ME: I wonder if Michael Saylor of Strategy {BTC company} has incorporated any Overshoot & Collapse modeling along with eco-collapse modeling into his company’s forward financial projections.
I strongly doubt it. IMO, he knows he has got a Ponzi Scheme going and is doing his best to maximize it all before it crashes down.
Strategy’s optimal goal would be to grow big enough with huge amounts of BTC that the company reaches the “too big to fail” threshold. Then if the company starts crashing, then it will start putting other financial institutions at risk necessitating the US Govt to step in to try and halt the contagion.
But perhaps Strategy will never reach this bailout threshold. The share price is now Down Over 70%!
Time will tell…BTC now at $67,000…OUCH!
—————————
https://bitcoinmagazine.com/markets/bitcoin-price-crashes-to-69000
Bitcoin Price Crashes 9% to $69,000 As Markets Spiral Into Full Risk-Off Mode
The bitcoin price crashed to $69,000 in trading Thursday as a deepening selloff in global markets spilled into crypto markets.
…Bitcoin price has now wiped out all gains since its previous $69,000 all-time high in 2021. BTC is now down nearly 30% over the past 12 months and about 45% below its October peak [peak near $126,000], according to Bitcoin Magazine Pro data…
…Attention now turns to Strategy, the largest corporate holder of bitcoin, ahead of its fourth-quarter earnings report Thursday. The company holds about 713,502 BTC, and investors are watching for any changes in its balance-sheet posture.
Strategy shares have collapsed more than 70% from their 2025 high, recently trading near $120, levels last seen in September 2024. The decline has weighed on public pension funds with exposure to the stock, with reported paper losses in the hundreds of millions.
Despite price dips, Chairman Michael Saylor has made it clear that Strategy won’t be selling its Bitcoin — and in fact is doubling down on purchases even as the market dips, signaling his intent to keep accumulating more.
Yesterday, Treasury Secretary Scott Bessent told the House Financial Services Committee that the U.S. government has no authority to “bail out” bitcoin or direct banks to buy BTC.
——————–
Bob Shaw Are Humans Smarter than Yeast?
Thanks, Bob. I imagine crypto will be featuring in tomorrow’s thread. You wonder how much hidden crypto leverage lurks in the shadow banking system…
“Michael Burry, known for predicting the 2008 global financial crisis, cautioned in a Substack post this week that free-falling Bitcoin prices could trigger a self-reinforcing ‘death spiral’, causing lasting negative effects on corporations that have been buying the digital assets for years…
“Burry said Bitcoin, which is down 40% since its October peak, is now exposed as a completely speculative asset and does not qualify as a debasement hedge like gold or silver.”
https://www.ibtimes.co.uk/michael-burry-warns-btc-crash-could-deepen-death-spiral-more-declines-could-mean-bankruptcy-1776333
BTC now about to go under $60,000. Will it rally higher? or nosedive even deeper?
“Why Israel’s Vulture Population Isn’t Recovering…”
My wife; “Just like the Gazans, we don’t want you here.”
This is a sick species. Of course one shouldn’t be offended if they are not a member of the species. 😉
I’m dedicating this to members of the heat engine.
https://www.youtube.com/watch?v=Zfr3L0drhS8&list=RDZfr3L0drhS8&start_radio=1
“I’m an ordinary guy burning down the house.”
I’m going to start paying all the bills with rolls of Bitcoins.