Micron banks $13B in prepayments as SpaceX seeks $40B for Nvidia chips

Bitcoin's trend intact despite ETF outflows and a Ledger wallet drain

The host says Bitcoin's weekly chart structure "still looks fine," arguing the broader trend has not broken even as the price fell this week, with bears hoping for a drop to "40K, the dream." He cites a seasonal pattern where October in midterm election years has averaged a 3% gain with a 74% win rate since 1950. He also references an analyst called Bluroo who argues that every time Bitcoin has climbed from 50% below its all-time high back to 30% below, it has made a new high within 75 days, with a median of 24 days and a "100% hit rate" historically.

On the negative side, the host notes nearly $730 million left Bitcoin ETFs against a target of $5 billion for the month, while price only fell about 2% to the $82–83K area. Ether fell 7%, and roughly $1 billion in leveraged positions was liquidated over 24–48 hours, though there was a bounce after the US president said there would be no Iran strike before the midterms. He also flags that bearish research shop Kaiko (referred to in the transcript phonetically) now argues AI-powered financial agents could transform crypto investing, naming Coinbase, Robinhood, Circle, Ethereum and Solana as beneficiaries.

Separately, the host describes a "supply chain attack" on Ledger wallets: a reseller called Cryptobillis is alleged to have been acquired and used to ship devices with recovery phrases already known to an attacker, allowing wallets to be drained after funding. He mentions one case where someone who bought 60 Bitcoin at the June low and moved funds to a Ledger wallet, up about $1.5 million, had that wallet drained.

Solana tokenization push, Ethereum cost comparison, and AI infrastructure deals

The host highlights two Solana headlines: Samsung plans to bring USDC transfers to Samsung Wallet in the last week of October across "82 million Galaxy devices," and Securitize launched 12 tokenized stocks on Solana backed one-for-one with voting rights and dividends, including Nvidia, Google, SpaceX, Palantir and Strategy. He notes Solana still fell 7% on the week despite this news. He pairs this with Nasdaq's CEO saying tokenization will "unleash tens of billions of dollars of capital," framing it as evidence of where blockchain-based stock trading is heading, while cautioning that in a winner-take-most market "there will not be 10 or 20 chains that win."

Using a market-cap-per-daily-transaction metric from his own dashboard, the host calculates Ethereum at $166,182 versus $360 for Solana, concluding Ethereum is "$454 times more expensive than Solana" by that ratio.

On infrastructure, he cites Micron's FY26 10-K describing take-or-pay agreements with "binding multi-year volumes" and $13 billion in customer prepayments for memory, which he takes as a signal against AI-bubble claims. He also notes a potential labor strike in Korea to watch. On SpaceX, he lists four developments: a reported $40 billion raise led by Apollo to buy more Nvidia chips, FCC approval for 15,000 satellites under a direct-to-device system, and a lock-up of 800 MHz spectrum, which he says pressures telecom carriers — AT&T, T-Mobile and Verizon were "down between 15 and 20%." He also mentions an X exchange where a user proposed "first company to $10 trillion buys the other," referring to Tesla and SpaceX, to which Elon Musk replied "Interesting."

AI capex names, confusing revenue reports, and macro yields

The host runs through year-to-date and 30-day performance for his "IA13" holdings: Nvidia up 23% year-to-date, TSM 48%, Micron 262%, AMD 185%, Marvel 222%, ALAB 105%, and Palantir up 15.72% year-to-date but, he says, having doubled from around $106 in roughly three months to near $209 after a Barclays upgrade with a $235 price target. He adds Marvel raised its 2029 custom silicon revenue target to more than $12 billion from under $10 billion, with the stock up 6%, Broadcom rising in sympathy, and AMD's Lisa Su saying AMD will "substantially increase" supply in 2027.

He flags conflicting reports on OpenAI's revenue: the Financial Times reported $50 billion as of the end of September, which he says was mistaken for a full-year figure, while Bloomberg reported $70 billion for the full year, implying roughly 40% growth in the fourth quarter alone. He also notes Google paused a Finland data center for environmental reasons, which he takes as evidence that "permits continue to gate AI capacity, not just chips."

On macro, he states the 10-year yield hit 5.35% on October 7th, "the highest level in 26 years," with the 30-year touching 5.72% and Brent crude topping $104. He notes puzzlement that markets kept hitting new highs despite this. The episode closes with the host noting a dispute between Elon Musk and Delta's CEO over in-flight Starlink internet, with

"Elon did say that this Delta CEO would be fired as a result of not succumbing to Starlink for airplane internet."

— the host. The video was disrupted by a browser freeze partway through, which the host flags directly:

"Sorry about the crash today, but I appreciate you all still being here."

— the host.