SoftBank just added another $11B in borrowing to keep funding OpenAI. That debt still has to be repaid, and Altman saying there’s no IPO this year delays the easy exit they were counting on. They’re carrying fresh leverage against a stake they can’t sell. Bitcoin doesn’t work like that: no lockups, no IPO calendar, no waiting on one company’s timeline. Liquidity matters.
Bryan Courchesne ₿Share
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