They need to have cash-like assets that are nimble enough to take advantage to seize on those

opportunities. But of course, as any business, they want to have their money working for them,

not just sitting in an ultimately melting ice cube, as Michael Saylor would put it.

Bitcoin was able to play that role for them.

This is not some corporate treasury forced profit taking.

It's an extremely mission-critical

business need taking precedence over long-term hoddling.

Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the

big-picture power shifts remaking our world.

The breakdown is sponsored by nexo.io and neer.org and produced and distributed by coin desk.

What's going on guys? It is Tuesday, April 27th, and today we are talking about why you shouldn't be stressed about Elon Musk selling $272 million in Bitcoin.

Yesterday, oh, woe of woes, we were betrayed. Like Benedict Arnold, come back to life to give

away the heart of our country. Like the Red Wedding on Game of Thrones, but even more violent,

we were betrayed. At least least that's what you would have

thought looking at Bitcoin Twitter yesterday. But to understand this, we need a little bit of

context. This entire leg of the Bitcoin bull market was sparked by Tesla's February announcement

of $1.5 billion of Bitcoin treasury. It also gave us one of the most iconic memes of the Bitcoin

space. In retrospect, it was inevitable. It put the world's richest man and the internet's most

prolific memester in our corner. It gave other massive corporations some pause that perhaps it wasn't

just crazy micro-strategy doing this Bitcoin treasury thing. Now, of course, Tesla buying Bitcoin

also flared up some additional tensions. The climate fud has been significantly worse since

the announcement. Instead of seeing Elon's involvement as evidence that

...