James Altucher:

1 Million BTC Treasury Push, Michael Saylor Attends Bitcoin Act Roundtable

U.S. lawmakers are meeting today with 18 crypto industry executives, including Strategy chairman Michael Saylor, to discuss how Congress can move forward with President Donald Trump’s Strategic Bitcoin Reserve.

Those in attendance include Fundstrat CEO Tom Lee, who is also the chairman of BitMine, as well as MARA CEO Fred Thiel.

The industry executives are looking to build momentum behind the BITCOIN Act, a measure introduced by U.S. Senator Cynthia Lummis in March that calls on the government to acquire one million Bitcoin over five years. 

The purchases would be funded through the Federal Reserve and Department of the Treasury, with Trump’s executive order stating that it must be financed through budget-neutral strategies.

The Bitcoin industry executives are pitching ideas around how the U.S. can fund these Bitcoin purchases without impacting taxpayers. Among the budget-neutral strategies that have been floated so far are the reevaluation of the Treasury’s gold certificates and tariff revenue.

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Enrique Abeyta:

A $300 Billion Question for Sam Altman

OpenAI, the makers of ChatGPT, announced a bombshell $300 billion deal with Oracle last week. The two are partnering to build a global network of giant data centers that can power the next wave of artificial intelligence.

These facilities (part of what’s being called Project Stargate) will provide the raw computing infrastructure that OpenAI needs to train and run its models.

Oracle’s stock surged more than 40% in a single trading day following the news, boosting its market capitalization by a staggering $250 billion.

Despite the hype, I think the numbers in the deal are almost too big to believe. Just a year ago, OpenAI wasn't profitable. It relied heavily on Microsoft-backed cloud services, and its projected cash burn through 2029 was pegged at over $115 billion.

Today, the company is still in the red. Yet, it’s reportedly behind $10 billion in Broadcom chip orders and committing an absurd $300 billion to Oracle.

That brings us to Sam Altman, CEO of OpenAI. What do we really know about Sam Altman and his questionable history? Is he the next Steve Jobs — or the next Elizabeth Holmes? And more importantly, where is he going to get $300 billion?

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Davis Wilson:

Meta’s New Smart Glasses Are Coming This Week

Meta’s next big Connect conference is nearly here. This year, Meta plans to announce new smart glasses with a small display in the right lens that can be controlled with hand gestures via a wristband. The display apparently has a limited field of view and is only intended to show small pieces of information.

The wristband will use surface electromyography (sEMG) technology that “reads and interprets the electrical signals from hand movements,” according to CNBC. The tech comes from CTRL-Labs, a startup Meta acquired in 2019, and Meta demoed it last year with its augmented reality Orion glasses. 

Meta is very optimistic about sEMG technology; in a recent blog post, it said that “sEMG could revolutionize how we interact with our devices” and that sEMG “may just prove to be the perfect input for virtually any device.”

The new glasses are expected to cost “about $800,” CNBC says, and could be thicker and heavier than some of Meta’s other smart glasses offerings.

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