Fran Berlin - Instituto Blockchain

🚀 Today is the day.

SpaceX is debuting on the Nasdaq. Ticker: SPCX. Price: $135 per share. The largest IPO in history.

And there’s a story within the story that no one is telling in the headlines.

Elon Musk, founder and owner of 40% of SpaceX, can't sell a single share for a year.

But there’s a group of investors personally selected by SpaceX executives who can sell from day one. No lock-up. No restrictions. Right from the opening bell.

SpaceX reserved 5% of the offering for this special program. The participants were chosen at the discretion of the management team.

Morningstar has already published its analysis: the fair value of SpaceX is between $1.1 and $1.7 trillion. The exit valuation is $1.77 trillion. The high end already discounts years of perfect execution.

An Australian hedge fund has already announced it will short its position as soon as possible.

While retail investors are coming in through the front door at $135 $USDT per share, some of those who have been invested for ten years are looking for the exit.

This doesn’t mean that SpaceX is a bad company. It’s probably the most extraordinary of its generation.

But in the markets, the starting price and the real value are two different things.

Are you going to jump into SPCX today or do you prefer to wait?

#SpaceX #IPO #SPCX #InstitutoBlockchain #FranBerlin

📅 Today is a historic day for the markets.

SpaceX makes its debut on Nasdaq. The largest IPO in history.

Bitcoin is trading close to $61,000 $USDT production cost zone, extreme fear, bear cycle.

And tomorrow, Friday, June 12, both narratives are going to collide.

Why does tomorrow matter?

Because it's the first full trading day of $SPCX . If the debut generates euphoria and the price spikes, the narrative of "capital flowing to tech stocks" gets reinforced. More pressure on crypto.

If SPCX disappoints and the price drops from the $135 launch, as Morningstar suggests it should, that capital will seek a new home. And crypto is the most liquid and accessible market in the world.

Meanwhile, the Fed meeting on June 18 is approaching with a CPI of 4.2% on the table. The market no longer expects rate cuts this year. But it does expect signals.

Three days. Three catalysts. Three potential directions.

What I know for sure is this: markets in extreme fear, with on-chain accumulation data, near the production cost, with institutions buying directly… don’t usually stay at that level forever.

When it changes, nobody knows. But that it will change, history confirms.

Are you positioned for when the change comes?

#bitcoin #SpaceX #Fed #InstitutoBlockchain #FranBerlin

🚨 The exchange that controlled 70% of Bitcoin started by selling Magic cards… and ended up losing 850,000 $BTC

It kicked off as a site for trading Magic: The Gathering cards.

No joke.

In 2010, American programmer Jed McCaleb had a domain called mtgox.com.

The acronym stood for:

Magic: The Gathering Online Exchange.

The original idea flopped.

But after discovering Bitcoin, he decided to repurpose the site to create a marketplace where folks could buy and sell BTC.

A year later, he sold the project to Frenchman Mark Karpelès.

What followed was one of the most incredible stories in the industry.

Mt. Gox grew to become the dominant exchange on the planet.

For years, it was the gateway to the ecosystem for millions of users.

If you bought Bitcoin, it was very likely you ended up using Mt. Gox.

But the success hid problems that nobody saw coming.

In February 2014, the exchange suspended withdrawals and shortly after declared bankruptcy.

The reason:

Approximately 850,000 BTC had vanished.

It was the equivalent of a global bank collapse within the nascent crypto ecosystem.

Trust plummeted.

Prices fell.

And the industry learned a lesson that still holds true:

Not your keys, not your coins.

What’s wild is that it all began with a failed project to trade collectible cards.

The story of Mt. Gox shows that innovation can come from anywhere, but also that growth without proper controls can have historical consequences.

This case is one of the most significant precedents to understand the evolution of Bitcoin, custody, and the regulation of digital markets.

Do you think Mt. Gox's fall was inevitable, or could it have been avoided with better practices and regulation from the start?

#bitcoin #MtGox #CryptoHistory #InstitutoBlockchain #BitcoinHistory

😱 $3.4 billion flowed out of Bitcoin ETFs in a week. Is this the end of the institutional cycle or just a tactical pause?

The week ending in early June 2026 marked the worst week in the history of Bitcoin spot ETFs.

$3.4 billion in net outflows over seven days. The largest weekly exodus since these products launched in January 2024. In total, over $4.4 billion $USDT exited in 13 consecutive days of withdrawals, coinciding with a 21% drop in the price of $BTC .

Institutional panic? Not exactly.

75% of the outflows came from a single fund: the IBIT of #blackRock . This was mostly hedge funds unwinding base arbitrage positions, not structural allocators selling their long-term holdings.

In other words: it's not that institutions are leaving Bitcoin. It's that arbitrage traders, who jumped in when the basis was high, are cashing out now that it’s no longer profitable.

The macro context explains it: the 10-year Treasury bond near 4.45%, a new Fed chair with a restrictive bias, and oil hovering around $97 due to tensions with Iran. In that environment, a non-yielding asset like Bitcoin struggles against the opportunity cost.

Today the PPI is released in the U.S. 🇺🇸 Next week, the Fed will make decisions. These two events will determine if this was a technical correction or the start of a deeper bearish phase.

How are you positioned for what's coming?

#bitcoin #ETFbitcoin #InstitutoBlockchain #FranBerlin

🚀 Today, for the first time in history, you can buy shares of SpaceX from a crypto platform. Here’s what no one explains.

Today, June 12, 2026, is a day that will go down in the financial history books.

The tokens $SPCXB , digital representations of SpaceX shares, started trading on spot exchanges in crypto. Not on Wall Street. On blockchain.

How does this work technically?

1. The token is backed 1:1. For every SPCX that exists in circulation, there's a real SpaceX share held by a regulated broker-dealer. It’s not smoke and mirrors. It’s not a synthetic bet. It’s direct economic exposure to the underlying asset.
2. It’s blockchain-agnostic. The tokens $SPCXB are interoperable on Ethereum, Solana, and TON. You can move them across chains.
3. It’s not direct ownership. Here’s the legal nuance that matters most: SPCX holders have economic exposure to the price of SpaceX, but they don’t have voting rights or dividends. They are tracker certificates, structured by Backed Assets, a regulated entity in Jersey.
4. The demand was insane. The SpaceX IPO attracted about $150 billion in investor interest, nearly double the $75 billion they aimed to raise.

This isn’t just crypto news. It’s the convergence of traditional capital markets and blockchain. The world of RWA (real-world assets) tokenized just made its most visible leap.

As a digital asset specialist, this is what I’ve been studying for years. Got questions about how it works legally?

#RWA #SpaceX #tokenizacionDeActivos #InstitutoBlockchain #FranBerlin

💥 The token aiming to be the backbone for AI agents on the blockchain.

There's a name that's popping up more and more in crypto infrastructure talks: $NEAR Protocol.

It's not new. But what's happening in June 2026 is.

This month, they're rolling out their dynamic resharding update: the network will automatically add capacity based on demand. In simple terms, if thousands of AI agents start transacting on NEAR simultaneously, the network scales itself.

Why does this matter now?

Because NEAR is positioning itself as the settlement layer for autonomous AI economies. Not for human users buying NFTs. But for bots executing payments, contracts, and transactions at speeds no human could oversee.

Plus, its NEAR AI branch has already implemented local anonymization of personal data in prompts sent to models like Claude or GPT. And Trezu utilizes its infrastructure for confidential corporate treasury and private multi-signature payments.

From the legal perspective I'm focused on: NEAR is building in a space where regulation and technology have yet to meet. That’s risk, but it’s also a window of opportunity.

This ain't investment advice. It's a thesis worth keeping a close eye on.

Do you have NEAR on your radar, or do you think you arrived too late to this story?

#Near #AltcoinAnalysis #CriptoEducación
#InstitutoBlockchain #FranBerlin

🌕 The night the man who would never sell... sold.

It was a promise worth tens of billions of dollars. $USDT

For five years, Michael Saylor repeated the same thing in every interview, every conference, every tweet: Strategy does not sell $BTC Bitcoin. Never.

That phrase was not just a corporate policy. It was the axis of an entire market narrative. Retail investors repeated it like a mantra. Institutions built positions with it as psychological backing.

Then came June 1, 2026.

An 8-K filing with the SEC revealed that Strategy had sold 32 Bitcoin between May 26 and May 31. Average price: $77,135 per coin. Total raised: $2.5 million.

What was the reason? To pay dividends on their preferred shares STRC.

32 coins. Out of a holding of 843,706 BTC. Just 0.0038% of their total position.

Mathematically irrelevant. Symbolically devastating.

The market shuddered. Not because of the amount sold, but because in that same week, Strategy raised $128.3 million by issuing common shares, but because a line believed impossible to cross was crossed.

As a lawyer specializing in digital assets, what catches my attention is not the sale: it's that the promise never had legal backing. It was a moral commitment that the market treated as a contract.

Does this change your perception of Strategy as an institutional Bitcoin reserve?

#bitcoin #strategy #MichaelSaylor #InstitutoBlockchain #FranBerlin

🔎 Bitcoin is trading today close to its production cost.

This isn’t just an opinion. It’s an on-chain fact.

The CEO of Capriole Investments released an analysis this week: the current price of $BTC is very close to the global average mining cost. Historically, this level has acted as a structural floor in the cycle.

Why? Because when the price dips below production costs, miners stop being profitable. The weaker ones power down their rigs. Network difficulty decreases. And equilibrium is restored.

It’s the most powerful self-regulating mechanism Bitcoin has. And it operates without central banks, regulators, or human intervention.

There are other on-chain metrics pointing in the same direction:

Whale wallets holding over 1,000 BTC have been quietly accumulating for three weeks. Not selling. Accumulating.

The percentage of BTC that hasn’t moved in over a year is at all-time highs. The so-called "illiquid supply." Capital that isn’t for sale.

The Fear & Greed Index today: 8. Extreme fear. Historically, readings below 10 have marked accumulation zones, not sell zones.

Headlines scream crisis. On-chain data tells a different story.

Which of the two do you hear more often?

#bitcoin #Onchain #mineria #InstitutoBlockchain #FranBerlin

😮 Yesterday something happened that deserves more attention than it received.

The May CPI in the U.S. came in at 4.2% year-over-year. The highest figure in three years.

The expected reaction was panic in the markets. Massive sell-offs. Bitcoin drop $BTC

But that didn’t happen.

Bitcoin briefly surged to $62,000 and then stabilized around $61,400. Analysts were expecting worse.

Why? Because the core CPI — the one that excludes energy and food, providing the cleanest signal on structural inflation — came in at 0.2% month-over-month. Less than expected.

That matters. It means inflation is still high, yes, but the deeper, harder-to-control part is cooling off at the margins.

And then Trump said something that created more noise than the data itself:

“I love inflation.”

While oil surpassed $90 a barrel due to tensions with Iran. While consumers in the U.S. were paying $4.16 $USDT per gallon of gas. While the markets were processing everything at once.

In this context, Bitcoin showed something important: it’s no longer mechanically reacting to macro data. It’s picking up on the nuances.

That’s market maturity. Or the bottom is very close.

Which of the two readings do you think is more likely? $USDC

#bitcoin #inflación #Macro #InstitutoBlockchain #FranBerlin

🔍 Today was a day packed with market info.

The May CPI dropped. The Fed has its response lined up for June 18. Bitcoin reacted.

Let me put into perspective what’s really happening in this cycle.

Eight months ago, back in October 2025, Bitcoin hit $126,073. Its all-time high.

Today, it's trading around $63,000. $USDT Exactly half.

In the last three Bitcoin cycles, 50% corrections from the ATH generally marked, on average, the smartest accumulation zone of the cycle. Not the exact bottom. The zone.

In 2018, $BTC dropped 84% from ATH. Those who bought at 50% of the ATH lost more before gaining a lot more.
In 2021, BTC fell 77% from ATH. Those who bought at 50% of the ATH saw 3x returns in the next cycle.
In 2022, the pattern repeated.

No cycle is identical. But they all share one thing in common: the most intense fear occurred exactly at levels where patient capital found its best opportunities.

Fear & Greed today: 10. Extreme fear.

I’m not telling you what to do. I’m giving you the context that the media doesn’t provide.

Which cycle do you think we’re in?

#bitcoin #BTC #EducacionCrypto #InstitutoBlockchain #FranBerlin

📊 Bitcoin ETFs have seen five consecutive weeks of net outflows.

$5.4 billion $USDT withdrawn. The longest streak of outflows since April 2025.

And yet, there's something that this number doesn’t account for.

Last week, amidst the largest outflows of the year, Strategy bought 1,550 $BTC , Bitmine picked up 126,971 $ETH , and Strive added 32 BTC to their treasury.

Institutions using ETFs are exiting. Institutions buying directly are entering.

These are two completely different types of institutional capital.

ETFs represent managed capital: funds responding to redemptions from their retail clients. When retail panics, managers sell. Not because they think the asset isn't worth it. But because their clients are asking for their money back.

Treasury companies like Strategy or Bitmine don’t have that problem. They buy when they want. And this week, they wanted to.

Which of the two groups has better insight into the real value of the asset?

The answer isn’t obvious. But the question definitely matters.

Which type of capital do you trust more to gauge market direction?

#bitcoin #etf #institucionales #InstitutoBlockchain #FranBerlin

🛢️ Back in 2021, no one would have connected Middle Eastern geopolitics to the price of Bitcoin.

By 2026, it’s impossible not to.

Here’s the chain that few are seeing in full:

Israel and Iran escalate tensions → the Strait of Hormuz, through which 20% of the world’s oil flows, is at risk → oil prices spike → electricity costs rise globally → mining Bitcoin gets pricier → miners start to sell more $BTC to cover expenses → increased selling pressure on the price.

And there’s more. High energy costs don’t just hit the miners. They impact overall inflation. And high inflation gives the Fed the perfect excuse to keep interest rates up. High rates drain capital from risk assets.

A missile over the Persian Gulf ends up affecting Bitcoin prices in Madrid, Mexico City, and Buenos Aires.

That didn’t exist ten years ago. Today, it’s the reality of the world’s most globalized asset.

BlackRock warned this week: if the Strait of Hormuz is closed for more than 30 days, U.S. oil inventories could drop to four-decade lows.

Bitcoin doesn’t exist in a vacuum. It never has.

Do you follow geopolitics when analyzing the crypto market?

#bitcoin #geopolitica #Energía #InstitutoBlockchain #FranBerlin

🕗 This morning, at 14:30 Madrid time, we're getting the data that could flip the script for Bitcoin this week.

The CPI for May 2026. Inflation in the U.S. 🇺🇸

And there's a factor almost no one is connecting to Bitcoin's price: the Strait of Hormuz.

Israel and Iran have been on edge for weeks. The Strait of Hormuz, through which 20% of the world's oil flows, has been at risk of closure. Oil prices reacted. Energy spiked. And energy is the main cost of mining Bitcoin.

BlackRock put it bluntly this week: the May CPI will be the first real read on how much that conflict is affecting consumer prices.

Market consensus expects a 4.2% year-over-year CPI. If the number comes in higher, the Fed has even less reason to cut rates. Higher rates for longer. Capital fleeing risk assets. More pressure on Bitcoin.

If the number surprises to the downside, the narrative could shift quickly.

$BTC is trading this morning around $63,000. In a holding pattern.

We’ll know in a few hours.

What are you expecting from today’s data?

#bitcoin #inflación #Fed #InstitutoBlockchain #FranBerlin

📊 What really went down this week in crypto.

Not what the headlines said. What the data shows.

What the market did:
$BTC dropped to $59,100 on Thursday. Today it's trading at $63,718. $ETH hit $1,505 on Sunday. Today it's at $1,665. $SOL fell to 2026 lows. Today it’s at $65.94.

What the institutions did while retail was panicking:
Strategy shorted 32 BTC last week. This week they bought 1,550. Bitmine scooped up 126,971 ETH in seven days. $214 million. Their biggest buy of the year.

What nobody saw coming:
Bybit launched tokenized access to SpaceX's IPO for global retail. The barriers to entry in traditional markets were torn down from the inside, using crypto infrastructure.

There’s a pattern in all this:

While the price was dropping and fear was rising, smart capital didn’t leave. It repositioned.

That doesn’t guarantee the market will pump tomorrow. But it says something about where those with more info and resources are putting their cash.

BTC opened 2026 at $92,500. Topped $126,073 in October 2025. Today it’s at $63,718.

The cycle isn't over. It's being tested.

Are you watching or participating?

#bitcoin #Ethereum #crypto #InstitutoBlockchain #FranBerlin

🚀 For decades, getting into an IPO at the launch price was the most exclusive privilege of Wall Street.

You needed the right bank. The right contact. The right net worth.

That changed this week.

Starting today and until June 11, anyone in the world can subscribe to tokenized shares of SpaceX at the official IPO price. Directly from their crypto wallet. No brokerage account. No traditional middleman.

The minimum entry: $10 dollars. $USDT

No level requirements. No minimum net worth. No exclusive waiting list.

The infrastructure making this possible is what's called RWA: real-world assets tokenized on the blockchain. Each token is backed 1 to 1 by a real SpaceX share held by a regulated entity. They’re not derivatives. They’re not synthetics.

And there’s one detail that no traditional broker can offer: these tokens trade 24/7, including the weekend after the Nasdaq debut on June 12, which historically is the most volatile period of any IPO.

SpaceX received $150 billion in demand. Double the $75 billion they aim to raise.

What’s happening here is not just an IPO. It’s the first time crypto infrastructure is breaking into the traditional primary markets.

Not in 2030. Today.

Would you use crypto to get into the biggest IPO in history?

#SpaceX #tokenización #RWA #InstitutoBlockchain #FranBerlin

🔄 Last week, Strategy shorted 32 Bitcoin and the market tanked.

This week, Strategy scooped up 1,550 $BTC

$101 million. At $65,332 $USDT per coin. The first buy since that sale that rocked the market.

And there's a detail that nobody is highlighting: this purchase was made $10,000 below Strategy's historical average price. For the first time since he started his accumulation strategy, Saylor reduced his average cost per Bitcoin.

It wasn't an accident. It was a calculated move.

Last week's narrative was: "Saylor sold, the model broke." This week's narrative is: "Saylor bought at the floor, the model continues."

Both narratives come from the same company. With a week in between.

This is what markets do all the time: they build stories around data. And then the data changes and the story changes.

BTC today: $63,718. Regaining ground.

The question isn't what Saylor did. The question is: how many of your decisions last week were based on a narrative that has already changed?

#bitcoin #strategy #BTC #InstitutoBlockchain #FranBerlin

🔍 There’s a question I’ve been getting this week more than any other:

"Fran, is this the end of the cycle?"

My honest answer: I don’t know. Nobody knows.

But I can tell the difference between data and fear. And this week there’s been a lot of both mixed together.

The real data from this week:

$BTC dropped to $59,100 on Thursday. Today it's trading at $62,681, trying to bounce back. $ETH has a -67% drawdown from its ATH of August 2025. Companies that copied the BTC treasury model lost $62 billion in combined value. The Fed won’t lower rates in 2026 according to 68.8% of the market. The SpaceX IPO on June 12 — the largest in history — is grabbing attention and possibly capital.

The real fear this week:

Polymarket gives a 55% chance that Bitcoin drops below $55,000 before the year’s end. Technical analysts are talking about $40,000-$45,000 if the $59,000 support $USDT breaks definitively.

And yet.

Bitcoin opened 2026 at $92,500. Touched $126,073 on October 6, 2025. It’s built to survive exactly this: narratives collapsing, institutions rotating, retail panicking.

What changes in each cycle isn’t Bitcoin. It’s us.

The investor who understands the cycle isn’t looking for the exact bottom. They’re looking for context. And the context today says: extreme fear, adverse macro data, and a week with the largest IPO in history competing for the same capital.

That’s not the end. It’s the entry price for those who study while others panic.

Are you studying or panicking?

#bitcoin #season #crypto #InstitutoBlockchain #FranBerlin

💀 Since 2020, Michael Saylor has been repeating the same thing in every interview, every tweet, every conference:

"We never sell Bitcoin."

The market believed him. And he built an entire narrative on that promise.

Companies around the world copied the model. Nakamoto. Metaplanet. Twenty One Capital. Dozens of firms turned their treasuries into positions of $BTC betting that if Saylor never sold, the floor would always hold.

On June 5, 2026, Strategy sold 32 Bitcoin.

Just 32. At an average price of $77,135. $USDT To pay dividends on preferred shares.

The 0.0038% of their total holdings.

And the market tanked.

An analyst named BitQuant had predicted exactly this moment back in January 2026: "Saylor buys between 2,000 and 20,000 Bitcoin a week and nobody cares. One day he’ll sell just 200 and the entire market will crash on that news."

He was wrong on the amount. He got everything else right.

What happened next was darker: the combined value of all the companies that copied Strategy's model dropped from $134 billion to $72 billion. Nakamoto did a reverse split of 1 for 40. Metaplanet is down -80% in twelve months. SoftBank liquidated its 26% in Twenty One Capital.

The model that seemed indestructible revealed its fragility in a single transaction.

The narrative is not the asset. The price is.

How many investment decisions did you make based on what Saylor said, not on what the data showed?

#bitcoin #strategy #MichaelSaylor #InstitutoBlockchain #FranBerlin

📉 In August 2025, $ETH Ethereum hit $4,951. $USDT Its all-time high.

Today it's trading at ~$1,630.

That's a 67% drop from the peak. In less than ten months.

But there’s one detail hardly anyone mentions: during that same period, Ethereum whales bought over $2 billion in ETH. Silently. No announcements. No tweets.

Who’s selling while the whales are buying? The fearful retail traders.

The ETH market in June 2026 shows a strange fracture: all the technical data is bearish — price below all moving averages, decreasing highs and lows, ETF outflows of $401 million just in May — but the fundamentals of the protocol haven’t budged.

The total value locked in DeFi remains stable. Gas fees are consistent. Ethereum is still the leading smart contract platform in the world.

And a catalyst is approaching that few are watching: the Glamsterdam upgrade, scheduled for Q3 2026. If developers confirm a date, the market could pivot before it arrives.

There’s a technical level that analysts point to as the line in the sand: $1,964. If ETH closes below that price sustainably, the next structural support is at $1,545.

If it holds… the story could be very different.

Whales know something the price hasn’t reflected yet. Or they could be wrong.

Which of the two scenarios are you betting on?

#Ethereum #ETH #defi #InstitutoBlockchain #FranBerlin

🚀 On June 12, 2026, SpaceX is making its debut on the Nasdaq.

Ticker: SPCX. Valuation: $1.75 trillion. Estimated raise: $75 billion. The largest IPO in history.

Analysts suggest that this date partly explains why Bitcoin $BTC took a dip to $59,100 $USDT last week.

Today kicks off the official IPO roadshow. The countdown is real.

The logic is simple and brutal: when the most awaited IPO of the decade arrives, retail investors need liquidity. Where do they get it? From where they have profits… or where they can exit quickly.

Crypto is liquid 24/7.

What makes this IPO unique is that up to 30% of the shares are reserved for retail investors. Not for funds. For people like you and me, through Robinhood, Fidelity, and Charles Schwab.

SpaceX, merged with Musk's xAI, is not just a space company. It's AI infrastructure. Starlink. Reusable rockets. And according to the S-1 filed with the SEC, Anthropic is paying $1.25 billion a month for access to its data centers.

The problem? The company recorded a net loss of $4.27 billion just in Q1 2026.

The hard data is contradictory. The hype is real.

And while the world decides whether to buy SPCX, Bitcoin is trading today at $62,681 — trying to regain ground after its worst week of the year.

Coincidence… or disguised capital rotation?

#SpaceX #bitcoin #IPO #InstitutoBlockchain #FranBerlin