by Ram ben Ze'ev The Illusion of Profit: Why Strategy’s Bitcoin ‘Gains’ Cannot Be Realised There is a dangerous misunderstanding spreading among retail investors, and it centres on one word: profit . In recent months, Strategy’s public filings and presentations have increasingly framed Bitcoin price movements in terms of operating income, net income, and earnings per share. To the untrained eye, this implies something intuitive and reassuring: that Strategy is generating prof

by Ram ben Ze’ev Dilution Without Delivery: When Compensation Becomes a Shareholder Tax The reinstatement of Elon Musk’s 2018 compensation package by the Delaware Supreme Court has been widely framed as a victory for performance-based pay. That framing obscures the real issue. The question is not Musk’s personal wealth, nor the speculative figures attached to it, but the concrete cost imposed on Tesla and, by extension, on its existing shareholders. At its core, the 2018 pack

by Ram ben Ze’ev When Words Are Corrupted, Meaning Is Lost Language is not a cosmetic choice in Judaism. Language is the vessel of truth. The Torah does not merely describe reality; it creates it. G-D spoke, and the world came into being. When we alter the words, we alter the world they shape. Today, our message is in crisis, not because Jews have forgotten how to speak, but because we have grown careless about what we speak. Even within Jewish publishing houses, educational

by Ram ben Ze’ev Hanukkhia I have written at length about assimilation within the Jewish Community, both within Israel and throughout the Diaspora. Language is never neutral. Accents, borrowed phrases, and careless substitutions are the first steps a person takes when trying to blend in, to avoid standing out, to be accepted. This subject has reared its head again because we are in the midst of Hanukkah. As we celebrate the festival and light a growing number of candles each

by Ram ben Ze’ev A Dangerous Retreat: Why Reclassifying Cannabis Is a Profound Mistake Yesterday, President Donald Trump signed an Executive Order directing the United States Attorney General to move cannabis from Schedule I to Schedule III under federal law, placing it in the same regulatory category as drugs such as Tylenol with codeine. As a lifelong Republican, a committed GOP voter, and someone who proudly supported President Trump in 2016, 2020, and 2024, I write this w

by Ram ben Ze’ev When Strategy Becomes Constraint: The Risk Beneath Strategy’s Bitcoin Reserve (Source @ strategy ) Strategy (NASDAQ: MSTR ) has spent the last five years presenting its Bitcoin treasury policy as a masterstroke of conviction: relentless, quarterly accumulation, regardless of price, with Bitcoin elevated from a speculative asset to a corporate reserve. On the surface, the numbers are impressive. More than 670,000 BTC acquired across 90 separate purchases since

by Ram ben Ze’ev When Light Is Targeted We are confronted once again with a moment that defies words and yet demands them. The Jewish Community has gathered, as we are commanded, in public, with dignity and courage, to praise G-D and to bring light into a world that too often prefers darkness. At a Hanukkah gathering in Bondi Beach, Australia, where families and communal leaders assembled to light the first night’s candle, that light was targeted. Reports speak of murder and

by Ram ben Ze'ev Hanukkah: Lighting Truth in a World That Forgets Light As we prepare once again to enter the days of Hanukkah, beginning on כ״ה כסלו (25 Kislev) — this year commencing at sundown on Sunday, 14 December 2025 — we are not merely approaching a festival of memory, but a living commandment: to kindle light, night by night, for eight days, and to bring light into the world as our mandate by G-D. Hanukkah is the time when we, the Jewish people, actively fulfil our r

by Ram ben Ze'ev The War on Words: How the Nations Distort Our Holiest Language Language is not neutral. For ישראל, it is the vessel through which קדושה enters the world. When the nations take our sacred words, reshape them, and hand them back to us with their meaning hollowed out, something essential is lost. Holiness becomes obscured, and the identity of our people is quietly eroded. Few examples reveal this more starkly than the distortion of שבת (Shabbat, rest) into the C