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What are best yield opportunities in crypto, and have particpants recovered their initial investment? I do get a lot of request and examples of yield earning so wanted to get some guidance on what has worked? Any thoughts?
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clark devlin
2K posts
clark devlin
@clark_devl1n
Curious listener / stock option and crypto learners/ please do not dm me if you want to talk of crypto yield, after intial introduction!
参加日 Temmuz 2024
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@theaveragegal__ @jimcramer No tax loss harvesting on kidney
😜
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Strategy (Micro) sells Bitcoin, $2.5 million. May have to reevaluate pro-bitcoin stance given how much Strategy has propped it up. Key trampoline for years. Some say manipulation. I think that's too strong
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You will be alright man, be positive in your mind, your body will believe it. And in today's world they can fix anything. Explore more than one source of treatment and opinion. The medical industry is not incentivized to fix things just make you live with it. All will be well.
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clark devlin がリツイート
~$31,000,000 of Bitwise Solana Staking ETF $BSOL volume traded today.
~$16,000,000 of Bitwise Hyperliquid ETF $BHYP traded today.
Both greater than most other crypto ETFs.
Revenue chains punching above their weight.
Hunter Horsley@HHorsley
There's a new class in crypto: the revenue chains. The leaders are Hyperliquid & Solana. Both do some overlapping things, and some different things. Both have exceptional communities, usage, use cases, etc. I think that both will rise together, just as iOS and Android both rode the structural adoption of mobile. In the case of the revenue chains, they are riding the wave of capital markets coming onchain. Right place, right time for both. If you are rooting for HYPE or SOL or both, success will be less about the competition between the two (healthy ofc), but rather the rise of onchain capital markets. Root for capital markets coming onchain. Love seeing crypto succeed —
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clark devlin がリツイート
Back to work this week. Need to buy more Bitcoin. $ASST $SATA
Strive@Strive
Strive moves to #7 $ASST
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@LizardWizardBTC That would be really crazy with all the sata asst strc mstr buying. No historical context so lets see.
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@clark_devl1n Yeah, and the assumption is that MSTR will move to the downside as a result
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Sometimes I can’t help but feel like Moses with a burning hedge, after leaving Amazon (Egypt) to wander into the desert.
Radu-Constantin XiXi⚡️☸ ☯@LizardWizardBTC
My 50k worth of puts are all in the green for the first time, haha By Monday open these will be 60k 🤣
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@clark_devl1n I have my own experimental and unproven model that says 49,228 by November 10th lol
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Strategy just increased their BTC Yield to 13.3% by buying back $1.5B of debt at an 8% discount
Savvy capital management = more Bitcoin per share
This is GOOD for $MSTR holders
Michael Saylor@saylor
Strategy has completed the repurchase of $1.5 billion of its 2029 Convertible Notes at an ~8% discount to par, generating an incremental 0.7% BTC Yield and lowering aggregate debt to $6.7 billion. $MSTR $STRC strategy.com/press/strategy…
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@hillery_dan Dan, whats your take on Sol. I think tokenomics doesnt reflect or accrue the value for all the network activity on Sol.
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Bitcoin and hype,
But hype is a security, not a coin
Sue@sue_xbt
I'm convinced, only like 5 coins matter: Bitcoin Solana Hype ZEC Maybe one more Everything else either isn't worth it or seems like wasted space.
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@MitchMartan98 Is there any historical precedence for tht,on how the firm has made moves? Would be good to have tht underlying signal.
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@clark_devl1n Unlikely, probably structure a deal more favourable for shareholders
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Lol Jeffries trimming $GLXY ‘s price target when the company is in a better spot than when the original price target of $53 came out.
Make it make sense, I swear these people shouldn’t have jobs in this field.
Not to mention both PT’s are too low.
Shrimp Among Whales@Shrimp_a_Whales
Jefferies trims $GLXY PT to $45 (prev $53)
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clark devlin がリツイート
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@JoshMandell6 The breakeven floats because the standard is missing. One fixed threshold, same math every quarter, no moving parts. That's what a standard does
x.com/chcbearsfan/st…
Bobby Tierney@chcbearsfan
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In Strategy's Bitcoin treasury model, break-even mNAV is the multiple where issuing common shares to buy Bitcoin becomes marginally accretive to BTC per share.
It's higher than 1x because of the preferred stock stack ... those senior claims need covering first. Right now it's around 1.22x thanks to that preferred layer.
This construct encourages more preferred issuance as the means to fund further Bitcoin purchases. At some point, a higher dividend rate may be required by the market. More preferred issuance or higher dividend cost pushes that break-even level up.
It's a virtuous cycle. $MSTR $STRC
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clark devlin がリツイート
We are investigating unauthorized access to GitHub’s internal repositories. While we currently have no evidence of impact to customer information stored outside of GitHub’s internal repositories (such as our customers’ enterprises, organizations, and repositories), we are closely monitoring our infrastructure for follow-on activity.
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@piovincenzo_ Wouldn't the model break if that amount of capital comes in, I think strc or sata drops the rate of return fast
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They should but they won't do this as long as Warren Buffett is alive
BTC Optioneer@BTCoptioneer
Berkshire Hathaway should put their cash ($397B) into $STRC and increase their annual net income from $67B to $100B.
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$GLXY
Losing the 200 D-SMA is clearly not a good sign. Considering the green box around 24.9 - 24.2 for a possible bounce - might add here. If next area of interest is around 22$-ish. NFA. DYOR
Want the upside, but not the downside? Wishful thinking imo! Know what you own (and how to play it).
StefanVanderLux@stefanvanderlux
$GLXY Took some profits the last few days around 30.30$, since I expected 30$-ish to be a crucial level (seems it is). Will likely increase my position at lower levels (Don't tell Cow I trimmed again)
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This ultimately will flip at some point and people will wonder why the price is rising so aggressively.
Quinten | 048.eth@QuintenFrancois
Saylor is buying millions worth of $BTC and price is dumping Isn’t that weird
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clark devlin がリツイート
Expert-level post. I may have reverse-engineered what @Strategy is doing with $STRC and $MSTR.
This is not really a “preferred stock” story. It’s a synthetic internal yield curve for capital funding.
The real spread is NOT: STRC yield vs SOFR
The real spread is: MSTR market premium (mNAV) vs STRC funding cost.
Strategy itself has effectively identified ~1.22x mNAV as an issuance floor. But once you layer in an 11.5% STRC funding cost, 1.22x is STILL negative carry.
That means: (1.22 - 1.22) - 11.5% = -11.5%
So the system only works if BTC/share growth (their “BTC Yield”) exceeds the funding drag.
This is why the 10% BTC Yield (increase in ₿PS) target matters so much and is most likely a low number and easy for them to beat.
It’s not a random KPI. It’s a reflexive sustainability threshold.
The actual breakeven appears closer to ~1.33x mNAV:
1.33 - 1.22 ≈ 11.5%
Below that, the curve is inverted.
Above that, positive reflexive carry resumes.
The heat map below is effectively a synthetic sovereign-style funding curve for Strategy.
Red = destructive financing regime
Orange = weak equilibrium
Green = positive reflexive carry
Dark green = convex accretion regime
This is also why mNAV matters far more now than it did a year ago.
Before STRC, mNAV was mostly a valuation metric.
After STRC, mNAV became a funding spread.
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clark devlin がリツイート
clark devlin がリツイート
There it is. At a premium, MSTR’s cost of capital is extremely low, arguably they are financing strc purchases for sub 5% at 2x mnav.
That’s a big idea.
Josh Man@JoshMandell6
I believe that 1.22x level marks the breakeven point where the MSTR market premium fully offsets the 11.5% STRC funding cost, leaving no net accretion spread before BTC per-share growth. Below this level, Bitcoin purchases result in negative carry. This framework encourages the firm to seek convex BTC yield accretion.
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