A 99% stock collapse. A restructuring that flipped control. And a wave of criticism from prominent Bitcoin voices who say this is exactly what they once warned about.
In this episode, we break down what's being called "The Nakamoto Heist" — not as gossip, but as a case study in Bitcoin's growing power struggle. How does a near-total equity wipeout turn into consolidation of influence? What does it say about Bitcoin wrapped inside the financial industrial complex versus Bitcoin in self-custody?
We unpack the mechanics of the collapse, the strategic moves that followed, and why critics argue this moment exposes a deeper tension: is Bitcoin being adopted — or absorbed? As sovereign funds buy dips, ETFs swing flows, and $150K targets resurface, the real debate may not be price at all — but who controls the rails.
This isn't just a corporate story. It's a clash between ideology and capital inside Bitcoin itself.
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