I don’t typically comment on crypto markets, but the recent volatility in Bitcoin has become difficult to ignore and is worth addressing in the broader context of risk and portfolio construction.
Bitcoin Update — Volatility Returns to Center Stage
Bitcoin has recently fallen below the $70,000 psychological level, a key threshold many investors had been watching closely. The move represents a sharp pullback from its prior highs and reflects a combination of regulatory clarity, shifting institutional behavior, and broader risk-off sentiment across markets.
One notable catalyst was recent testimony from U.S. Treasury Secretary Scott Bessent, who stated plainly that the federal government cannot and will not intervene to support Bitcoin or instruct banks to backstop crypto markets. That comment reinforced the reality that Bitcoin trades without any policy safety net, prices are driven entirely by liquidity, sentiment, and market positioning.
At the same time, institutional dynamics have shifted. Spot Bitcoin ETFs, which had previously seen consistent inflows, have experienced net outflows, while leveraged positions across crypto exchanges have been unwound, accelerating downside pressure. From a technical standpoint, markets are now watching whether Bitcoin can sustainably reclaim the $70,000 level; failure to do so has some analysts pointing to potential support lower, in the $60,000–$65,000 range.
This episode serves as a reminder that assets untethered to cash flow or underlying fundamentals can move quickly—and sometimes violently—when sentiment changes.
Land Fund Update — Strong Investor Interest
Against that backdrop, I wanted to share a brief update on our Troy, TX land development investment. We’ve seen strong interest from investors, with capital already committed, and currently have approximately $700,000 remaining before this round closes.The opportunity targets 20% blended annualized returns through a short-duration, approximately 18-month investment, focused on fully entitled, finished lots that are pre-sold to multiple builders. Returns are generated through profit participation at home sales, rather than reliance on market appreciation, and are supported by strong entry-level housing demand and USDA 0% down financing.