Strategy’s capital structure raises new questions. This week’s That’s Our Two Satoshis looks at: • BTC strength partly driven by Strategy purchases and ETFs • Hyperliquid expanding price discovery across oil, gold, and equities • Adoption rising, but crypto’s top four tokens poorly linked to adoption • Strategy’s capital stack raises long-term interest coverage questions @jdorman81 examines the gap between crypto adoption and token investment theses—and the long-term implications of Strategy’s capital structure.