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EndGame Macro
What Jack Dorsey Is Probably Signaling With 108
If you’ve followed Jack for a while, you know he doesn’t post numbers randomly. The most straightforward read is that Block recently added 108 BTC to its balance sheet and he loves turning dry filings into little on chain haikus. It’s his way of signaling that they’re still quietly accumulating without making it a formal corporate announcement.
The Second Layer Most People Miss
Jack isn’t just a Bitcoin executive, he’s deep into Vipassanā, Eastern philosophy, and symbolic numerology. And in that world, 108 is a loaded number. It represents wholeness, cycles, completion. It shows up in meditation beads, mantra counts, and the way practitioners frame essential truths. Jack often blends that part of his life with the way he communicates about Bitcoin.
How It Comes Together
So the post probably isn’t a date, a prediction, or some cryptic countdown. It’s Jack doing what he does best…mixing a real world signal with a number that reflects how he sees Bitcoin not just as an investment, but as something foundational, cyclical, and spiritually aligned with his worldview of strip everything down to what actually matters.
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What Jack Dorsey Is Probably Signaling With 108
If you’ve followed Jack for a while, you know he doesn’t post numbers randomly. The most straightforward read is that Block recently added 108 BTC to its balance sheet and he loves turning dry filings into little on chain haikus. It’s his way of signaling that they’re still quietly accumulating without making it a formal corporate announcement.
The Second Layer Most People Miss
Jack isn’t just a Bitcoin executive, he’s deep into Vipassanā, Eastern philosophy, and symbolic numerology. And in that world, 108 is a loaded number. It represents wholeness, cycles, completion. It shows up in meditation beads, mantra counts, and the way practitioners frame essential truths. Jack often blends that part of his life with the way he communicates about Bitcoin.
How It Comes Together
So the post probably isn’t a date, a prediction, or some cryptic countdown. It’s Jack doing what he does best…mixing a real world signal with a number that reflects how he sees Bitcoin not just as an investment, but as something foundational, cyclical, and spiritually aligned with his worldview of strip everything down to what actually matters.
108 tweet
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EndGame Macro
What a 0.70 Put/Call Ratio Is Really Telling Us
A put/call down near these levels is the market saying, “We’re not worried right now.” When people stop buying puts and pile into calls, it usually means they’ve convinced themselves the coast is clear. Protection feels like a waste of money, upside feels cheap, and everyone wants to chase what’s been working.
Why It’s Happening Now
The setup makes sense. We just had a clean narrative flip, the Fed stepped back, cuts are on the table, QT is ending, yields have eased, and stocks have ripped higher. A lot of managers were underweight risk all year, and the easiest way to catch up into year end is to buy upside rather than rebuild hedges slowly. So positioning gets lopsided…lots of calls, very few puts, and sentiment that feels almost relieved.
The Deeper Tone
But historically, when everyone leans to one side like this, short term returns get choppy. Not because disaster is guaranteed, just because the payoff for adding risk shrinks while the air pocket in the other direction grows. It’s classic late cycle psychology…the feeling that the worst is behind us, right as the system is still carrying real macro fragility.
So the put/call ratio is flashing confidence maybe a little too much of it at the exact moment when the market should probably still be paying attention.
tweet
What a 0.70 Put/Call Ratio Is Really Telling Us
A put/call down near these levels is the market saying, “We’re not worried right now.” When people stop buying puts and pile into calls, it usually means they’ve convinced themselves the coast is clear. Protection feels like a waste of money, upside feels cheap, and everyone wants to chase what’s been working.
Why It’s Happening Now
The setup makes sense. We just had a clean narrative flip, the Fed stepped back, cuts are on the table, QT is ending, yields have eased, and stocks have ripped higher. A lot of managers were underweight risk all year, and the easiest way to catch up into year end is to buy upside rather than rebuild hedges slowly. So positioning gets lopsided…lots of calls, very few puts, and sentiment that feels almost relieved.
The Deeper Tone
But historically, when everyone leans to one side like this, short term returns get choppy. Not because disaster is guaranteed, just because the payoff for adding risk shrinks while the air pocket in the other direction grows. It’s classic late cycle psychology…the feeling that the worst is behind us, right as the system is still carrying real macro fragility.
So the put/call ratio is flashing confidence maybe a little too much of it at the exact moment when the market should probably still be paying attention.
Total Put/Call Ratio drops to 0.70, one of the lowest levels in the last 4 years 👀 https://t.co/5Kw1zcRH69 tweet
memenodes
I've seen this before
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I've seen this before
I've lost $6000 trading over the last 3 months. I had $20 left and turned it to $400 then to zero all in one day. I've no choice but to leave crypto. tweet
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Coinfessions (@coinfessions) on X
I've lost $6000 trading over the last 3 months. I had $20 left and turned it to $400 then to zero all in one day. I've no choice but to leave crypto.
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memenodes
There will be no second date, but at least she now knows what bitcoin is and who controls the market https://t.co/EYpQIYANLK
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There will be no second date, but at least she now knows what bitcoin is and who controls the market https://t.co/EYpQIYANLK
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Fiscal.ai
7 quality companies trading at their cheapest valuations ever:
1. Airbnb $ABNB
EV/EBIT: 22.6x https://t.co/QKzcWeWFTu
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7 quality companies trading at their cheapest valuations ever:
1. Airbnb $ABNB
EV/EBIT: 22.6x https://t.co/QKzcWeWFTu
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Dimitry Nakhla | Babylon Capital®
Visa was JUST trading at a 4% FCF yield & legendary investor Chris Hohn increased his $V stake by +47%, making it 18% of TCI Fund 💵
Here’s what $V has returned (CAGR %) each time it hit a 4% FCF yield for the first time in a given year since 2016
1. +17.8% CAGR | (1/19/16)
2. +16.2% CAGR | (9/27/17)
3. +15.6% CAGR | (2/8/18)
4. +12.2% CAGR | (8/5/19)
5. +15.6% CAGR | (3/16/20)
6. +17.1% CAGR | (3/7/22)
7. +18.0% CAGR | (9/21/23)
8. +13.9% CAGR | (4/24/24)
9. ❓ | (11/14/25)
___
𝐃𝐈𝐒𝐂𝐋𝐎𝐒𝐔𝐑𝐄‼️
𝐓𝐡𝐢𝐬 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐢𝐬 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝 𝐟𝐨𝐫 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐚𝐧𝐝 𝐞𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐩𝐮𝐫𝐩𝐨𝐬𝐞𝐬 𝐨𝐧𝐥𝐲 𝐚𝐧𝐝 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐜𝐨𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐝𝐯𝐢𝐜𝐞, 𝐚𝐧 𝐨𝐟𝐟𝐞𝐫, 𝐨𝐫 𝐚 𝐬𝐨𝐥𝐢𝐜𝐢𝐭𝐚𝐭𝐢𝐨𝐧 𝐭𝐨 𝐛𝐮𝐲 𝐨𝐫 𝐬𝐞𝐥𝐥 𝐚𝐧𝐲 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲.
𝐁𝐚𝐛𝐲𝐥𝐨𝐧 𝐂𝐚𝐩𝐢𝐭𝐚𝐥® 𝐚𝐧𝐝 𝐢𝐭𝐬 𝐫𝐞𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐚𝐭𝐢𝐯𝐞𝐬 𝐦𝐚𝐲 𝐡𝐨𝐥𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬 𝐝𝐢𝐬𝐜𝐮𝐬𝐬𝐞𝐝. 𝐀𝐧𝐲 𝐨𝐩𝐢𝐧𝐢𝐨𝐧𝐬 𝐞𝐱𝐩𝐫𝐞𝐬𝐬𝐞𝐝 𝐚𝐫𝐞 𝐚𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐝𝐚𝐭𝐞 𝐨𝐟 𝐩𝐮𝐛𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐬𝐮𝐛𝐣𝐞𝐜𝐭 𝐭𝐨 𝐜𝐡𝐚𝐧𝐠𝐞 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐧𝐨𝐭𝐢𝐜𝐞.
𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐡𝐚𝐬 𝐛𝐞𝐞𝐧 𝐨𝐛𝐭𝐚𝐢𝐧𝐞𝐝 𝐟𝐫𝐨𝐦 𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞𝐝 𝐭𝐨 𝐛𝐞 𝐫𝐞𝐥𝐢𝐚𝐛𝐥𝐞 𝐛𝐮𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐠𝐮𝐚𝐫𝐚𝐧𝐭𝐞𝐞𝐝 𝐚𝐬 𝐭𝐨 𝐚𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝐨𝐫 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞𝐧𝐞𝐬𝐬. 𝐏𝐚𝐬𝐭 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐠𝐮𝐚𝐫𝐚𝐧𝐭𝐞𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐫𝐞𝐬𝐮𝐥𝐭𝐬.
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Visa was JUST trading at a 4% FCF yield & legendary investor Chris Hohn increased his $V stake by +47%, making it 18% of TCI Fund 💵
Here’s what $V has returned (CAGR %) each time it hit a 4% FCF yield for the first time in a given year since 2016
1. +17.8% CAGR | (1/19/16)
2. +16.2% CAGR | (9/27/17)
3. +15.6% CAGR | (2/8/18)
4. +12.2% CAGR | (8/5/19)
5. +15.6% CAGR | (3/16/20)
6. +17.1% CAGR | (3/7/22)
7. +18.0% CAGR | (9/21/23)
8. +13.9% CAGR | (4/24/24)
9. ❓ | (11/14/25)
___
𝐃𝐈𝐒𝐂𝐋𝐎𝐒𝐔𝐑𝐄‼️
𝐓𝐡𝐢𝐬 𝐜𝐨𝐧𝐭𝐞𝐧𝐭 𝐢𝐬 𝐩𝐫𝐨𝐯𝐢𝐝𝐞𝐝 𝐟𝐨𝐫 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐚𝐧𝐝 𝐞𝐝𝐮𝐜𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐩𝐮𝐫𝐩𝐨𝐬𝐞𝐬 𝐨𝐧𝐥𝐲 𝐚𝐧𝐝 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐜𝐨𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐞 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐚𝐝𝐯𝐢𝐜𝐞, 𝐚𝐧 𝐨𝐟𝐟𝐞𝐫, 𝐨𝐫 𝐚 𝐬𝐨𝐥𝐢𝐜𝐢𝐭𝐚𝐭𝐢𝐨𝐧 𝐭𝐨 𝐛𝐮𝐲 𝐨𝐫 𝐬𝐞𝐥𝐥 𝐚𝐧𝐲 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐲.
𝐁𝐚𝐛𝐲𝐥𝐨𝐧 𝐂𝐚𝐩𝐢𝐭𝐚𝐥® 𝐚𝐧𝐝 𝐢𝐭𝐬 𝐫𝐞𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐚𝐭𝐢𝐯𝐞𝐬 𝐦𝐚𝐲 𝐡𝐨𝐥𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐬𝐞𝐜𝐮𝐫𝐢𝐭𝐢𝐞𝐬 𝐝𝐢𝐬𝐜𝐮𝐬𝐬𝐞𝐝. 𝐀𝐧𝐲 𝐨𝐩𝐢𝐧𝐢𝐨𝐧𝐬 𝐞𝐱𝐩𝐫𝐞𝐬𝐬𝐞𝐝 𝐚𝐫𝐞 𝐚𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐝𝐚𝐭𝐞 𝐨𝐟 𝐩𝐮𝐛𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐬𝐮𝐛𝐣𝐞𝐜𝐭 𝐭𝐨 𝐜𝐡𝐚𝐧𝐠𝐞 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐧𝐨𝐭𝐢𝐜𝐞.
𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐡𝐚𝐬 𝐛𝐞𝐞𝐧 𝐨𝐛𝐭𝐚𝐢𝐧𝐞𝐝 𝐟𝐫𝐨𝐦 𝐬𝐨𝐮𝐫𝐜𝐞𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞𝐝 𝐭𝐨 𝐛𝐞 𝐫𝐞𝐥𝐢𝐚𝐛𝐥𝐞 𝐛𝐮𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐠𝐮𝐚𝐫𝐚𝐧𝐭𝐞𝐞𝐝 𝐚𝐬 𝐭𝐨 𝐚𝐜𝐜𝐮𝐫𝐚𝐜𝐲 𝐨𝐫 𝐜𝐨𝐦𝐩𝐥𝐞𝐭𝐞𝐧𝐞𝐬𝐬. 𝐏𝐚𝐬𝐭 𝐩𝐞𝐫𝐟𝐨𝐫𝐦𝐚𝐧𝐜𝐞 𝐝𝐨𝐞𝐬 𝐧𝐨𝐭 𝐠𝐮𝐚𝐫𝐚𝐧𝐭𝐞𝐞 𝐟𝐮𝐭𝐮𝐫𝐞 𝐫𝐞𝐬𝐮𝐥𝐭𝐬.
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Fiscal.ai
Is Nubank the fastest growing bank in the world?
$629 million → $38.8 billion in customer deposits in 7 years.
Outrageous growth.
$NU https://t.co/IZYeruehJ5
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Is Nubank the fastest growing bank in the world?
$629 million → $38.8 billion in customer deposits in 7 years.
Outrageous growth.
$NU https://t.co/IZYeruehJ5
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Fiscal.ai
ASML sells fewer than 500 units per year and generates $37 billion in revenue.
Is there any company in the world with a wider moat?
$ASML https://t.co/N8fSDsr6jT
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ASML sells fewer than 500 units per year and generates $37 billion in revenue.
Is there any company in the world with a wider moat?
$ASML https://t.co/N8fSDsr6jT
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