AndyWu

@River Would River allow long term clients to access a 10-20% line of equity or use strc to offer some higher interest options?

70% of River clients have never sold bitcoin.

@River I love the research!

Who is bitcoin-maxxing the hardest? The data is clear: businesses and boomers.

@Z06Z07 @Strategy Given the success of strc, do you think we can see .75 MNAV again? What would the price be?

I'm working on my Monday article for $MSTR price prediction and have been analyzing the historical metrics for @Strategy . The Four Regimes: Regime 1 - Convexity Discovery (2020–2021) Capital structure: converts + equity Narrative: “First public Bitcoin treasury” BTC held: 38k → 124k BTC per share: 0.000735 → 0.001102 (+33%) Shares outstanding: 96M → 113M mNAV: ~1.82 → ~1.07 Interpretation: Strategy demonstrated that public markets could amplify Bitcoin exposure.Dilution existed, but BTC accumulation per share outpaced it. Result: market granted a structural premium. Regime 2 - Survival / Crypto Winter (2022–2023) Capital structure: constrained capital markets Narrative: “Can the structure survive a bear market?” BTC price: $46k → $16k BTC NAV: $5.7B → $2.2B mNAV: 1.07 → 0.75 BTC per share: 0.00110 → 0.001147 Interpretation Despite the collapse in BTC price, BTC per share still increased. This proved the structure was durable, not just reflexive. Result: Strategy survived the crypto winter. Regime 3 - Convexity Expansion (2024) Capital structure: heavy ATM issuance Narrative: “Strategy becomes the dominant BTC capital vehicle” BTC held: 189k → 447k BTC NAV: $8B → $42B BTC per share: 0.00112 → 0.00182 (+62%) mNAV: ~1.70 Interpretation: Bitcoin bull market + institutional recognition of Strategy as the primary capital gateway to BTC. Dilution increased but BTC per share accelerated. Result: convexity premium returned. Regime 4 - Capital Structure Repricing (2025 →forward) Structural change: preferred shares introduced. Shares outstanding: 246M → 342M BTC held: 447k → 672k BTC per share: 0.00182 → 0.00215 (+18%) mNAV: 1.70 → 0.80 Why the premium dropped Three forces converged: ATM guidance change (July 2025) Preferred dividend liability (~$1B/year) Market repricing dilution risk Result: Strategy temporarily traded below BTC NAV. Regime 5 (Emerging) - Hybrid Capital Engine Strategy now has two funding channels: $MSTR common convexity layer $STRC preferred capital engine Key structural shift: Preferred raise BTC WITHOUT increasing share count. Equity provides reflexive amplification. My proposed equilibrium: ~50% BTC funded by common, ~50% by preferreds. Strategy is constantly evolving. Get used to change, and learning new concepts, that's the path going forward.

@AdamBLiv Who sold to Saylor because the price didn’t move? Why do you think the price is suppressed at the highest buying from Strc and MSTR?

By the way, this amounts to ~14,700 Bitcoin purchased in ONE DAY. PROBABLY NOTHING THOUGH!

🔥THIS IS INSANE: STRATEGY RAISES $1 BILLION IN A SINGLE DAY WITH STRC/MSTR?!?🔥 Right now we are looking at an estimated 4,322 Bitcoin acquired today and that is IF they captured only 42% of the volume over $100. That is over $303.2 MILLION DOLLARS from STRC in ONE TRADING SESSION. Now, with raising this kind of money, Strategy can do one of two things. Hit the MSTR as well to keep Bitcoin amplification depressed and buy more Bitcoin... OR they can lay off the ATM and increase the Bitcoin amplification behind your MSTR shares. Using last week's MSTR/STRC issuance ratio, if they did the same today, that is $727.86 MILLION RAISED from MSTR in ONE TRADING SESSION. $303.2 M + $726.86 M = $1.03 BILLION IN ONE DAY. BILLION WITH A B. THIS IS THE BIGGEST STORY IN FINANCE AND THE WORLD IS STILL ASLEEP. IT WOULD BE A SHAME IF EVERYBODY FOUND OUT ABOUT THIS AND HOW YOU CAN MAKE 11.5% RETURNS WITH CLOSE TO ZERO VOLATILITY. THIS IS THE ULTIMATE BITCOIN SINGULARITY:

@Z06Z07 @HODL15Capital Why do you think there was so much selling from etfs? Too many people buying with margin?

@HODL15Capital This is the net gain since Jan 2024. 😃🙏 Please add another subtotal for previous amounts and then grand total for full view. Keep up the great work!!!

@QuintenFrancois btc price is about the same exactly 2 years ago?

Generational buying opportunity

@EricTrump Can someone explain why bitcoin company doesn't care about its stock prices? What is the measurement of performance? BTC Holdings? Should they ever repurchase their shares when is so cheap?

Incredibly proud of our team at American Bitcoin. Just finishing our quarterly earnings call — what an amazing story. We INCREASED the Bitcoin on our balance sheet 58% quarter over quarter, and mined at 53% DISCOUNT to the market price of BTC. Decreased difficulty became our friend allowing for substantial additional mining while most other competitors went quiet. In approximately 6 months since going public on the NASDAQ, we have accumulated over 6,235 BTC and are now the 17th largest public Bitcoin company on Earth. Company Revenue growth year over a year is up 159%. Our future is unlimited! @ABTC

@DollarCostAvg They also bought mstr last year and are down 50%.

Howard Lutnick (THE GUY HAS DIRECT ACCESS TO TRUMP AND MARKET) bought $150 Million worth of stocks of $IREN + still probably buying more. I think something big is brewing for $IREN. ✅

@River What about 2026? The fastest short-term unrealized loss?

Bitcoin ownership changed massively in 2025. More in next week’s report on Bitcoin adoption.

@HermesLux @baldguymoney My local silver dealer stop buying due to volatility. Other dealers offer 30% fees. I hope the price keep going higher so you can offset these fees.

@baldguymoney How do you know its real silver?

Very cool 10 oz. Silver bar! I bought this on the last dip.

@Bitcoin_Teddy Bro that's in a few days???

Tom Lee: "I think Bitcoin hits $180,000 by January 31."

@ZynxBTC ABTC is currently down 90%. It seems they are borrowing to cover expenses because they do not sell their mined BTC. Every time they borrow more, it creates more stock shares. Are they running a Saylor strategy? Would this be too risky and force a sale if liquidity dries up?

The son of the most powerful man in the world is flexing that his company is flying through the PubCo Bitcoin Treasury ranks and you're bearish? Enjoy your precious metals I'm going to be stacking Bitcoin with these guys.

@Mike_Taylor1972 @KeithMcCullough How come the hedge fund guys are always right?

@KeithMcCullough Funny factoid: Last Oct the US miners changed their biz plan and became AI providers - AND stopped spending $ on BTC promotion… and suddenly:

Bitcoin sucks

@saylor @saylor Mr Saylor, can you just do a small buy on the spot market to test that the spot price is not dead? Can you keep the institutions with paper BTC in check?

Zoom Out

@AdamBLiv Would buying this heavy in a negative sentiment cost a uncalculated mistake? What unforeseen issue could occur if price trends to 70k?

🔥MSTR WORLD DOMINATION - IMMINENT!🔥 STRATEGY JUST BOUGHT $3.5 BILLION OF BITCOIN IN LESS THAN 3 WEEKS. 37,215 POTENTIAL FUTURE WHOLECOINERS - VAPORIZED IN 15 DAYS. 4 YEARS OF DIVIDEND PAYMENTS RAISED IN 2026 ALREADY. STRATEGY IS THE BITCOIN BUYER OF LAST RESORT. THE MSTR/STRC FLYWHEELS CONTINUE TO SPIN AS THE WEAK HANDS GIVE UP THEIR DIGITAL ORANGE IMMORTALITY TO THE HANDS OF MICHAEL J. SAYLOR. BITCOIN'S ASCENSION IS INEVITABLE:

@QuintenFrancois @saylor What happens when he get to 1mm?

@saylor Who tf is selling then

Strategy has acquired 22,305 BTC for ~$2.13 billion at ~$95,284 per bitcoin. As of 1/19/2026, we hodl 709,715 $BTC acquired for ~$53.92 billion at ~$75,979 per bitcoin. $MSTR $STRC strategy.com/press/strategy…

@ZynxBTC @ActuallyClimber Would you sell Metaplanet to buy mstr? I just don’t see how Metaplanet is a better stock than mstr? Am I missing something? Margin of safety is so much better in every way?

Metaplanet is going to be the best performing stock in the world in 2026. Up 35% already and Bitcoin hasn't done anything yet. A $200k Bitcoin this year and we'll go to $20/share. At what price does @ActuallyClimber get back on board? 👀 $MTPLF / $MPJPY

@alliseeis_W How will the price go up when the BTC price remains the same, and MSTR keeps the ATM at 1mNAV?

$MSTR bleed out for over 7 months? Now is the time to lock in with the upside reversal.

@ZynxBTC Most bought around 110k-118k Q4 2025

They all know what's coming. It's become irrational and even unwise to not have Bitcoin in your portfolio - even as a hedge. It's kind of crazy to see how many people connected to the US administration has bought Bitcoin. Trump's company has bought Bitcoin. Vivek's company has bought Bitcoin. Elon's company has bought Bitcoin. RFK has bought Bitcoin. Tons more names but this is just a few. Eric Trump is behind a number of Bitcoin companies. All the incentive structures align. Not having Bitcoin is becoming very risky.

@Rajatsoni @Vivek4real_ Stop posting old news. It's like posting MSTR going to 1000 when it was at $450. It doesn't help.

@Vivek4real_ Tom Lee doesn't know anything about anything

TOM LEE SAID LIVE ON CNBC THAT SUPPLY SHOCK IS COMING AND BITCOIN IS GOING TO $3,000,000 TIGHTEN YOUR SEABELTS 🚀