chilifart

>no crippling student debt >safe from AI for now Trade school resurgence when

It HAS to be this one Enjoy the holiday Never forget why we have it 🇺🇸🫡

Exoplanet .. Livestream of an erupting volcano captured a meteor crashing to earth today in Legazpi, Philippines.

Yesterday Michael Saylor posted on X: “This week we bought bonds not bitcoin. The BitVac is charging.” Strategy had used cash to retire one point five billion dollars of its 2029 convertible bonds for one point three eight billion, saving one hundred and twenty million on the discount. It was the architecture’s first public name. Three weeks earlier on the Q1 earnings call Saylor had told investors: “We will probably sell some bitcoin to pay a dividend just to inoculate the market.” Two weeks before that he had explained the logic on a podcast: “If the market thought we would never sell, the credit rating agencies would say, well then, I guess it is not an asset.” Strategy’s eight hundred forty-three thousand bitcoins are worth approximately sixty-five billion dollars. The company that holds them is worth fifty-seven billion. The corporate wrapper trades at negative eight billion. The BitVac is Saylor’s name for the breathing cycle. Strategy raises capital through ATM equity sales and STRC perpetual preferred stock. The cash builds a USD reserve that services dividends and retires convertibles at a discount. The cycle exhales into Bitcoin. The architecture is disclosed in Strategy’s own SEC filing playbook by mNAV tier. Above four times the company actively issues stock to buy Bitcoin. Below one times mNAV the company will consider issuing credit to repurchase its own shares. The mNAV today is one point zero eight. Eight percent above the trigger that ends the four-year flywheel. To buy two point zero one billion dollars of Bitcoin between May eleventh and seventeenth, Strategy funded ninety-six percent of the purchase with STRC preferred stock. STRC pays an annual dividend of eleven point five percent. Strategy has issued five point five eight billion of STRC in 2026, the world’s largest preferred stock by market cap. Annual STRC dividend obligations run at one point seven one billion dollars. Cash on the balance sheet is two point two five billion. Bitcoin per share has grown twelve point six percent year to date. Bitcoin traded near eighty thousand dollars on Friday. Strategy’s average acquisition cost is seventy-five thousand seven hundred. The margin between blended cost basis and current spot price is approximately five percent. Q1 2026 net loss was twelve point five billion dollars from unrealized Bitcoin losses. It was the third consecutive quarterly loss. MSTR closed Friday near one hundred sixty-five dollars, down fifty-nine percent year over year and sixty-four percent from its November 2024 high. Strategy’s Bitcoin holdings exceed BlackRock’s IBIT ETF. The premium that built Strategy is gone. From a peak of three point eight nine times in November 2024 the mNAV is now one point zero eight. Three factors compressed it. Spot Bitcoin ETFs gave investors direct exposure without the wrapper. Copycat treasury companies like Metaplanet ended Strategy’s monopoly as the only Bitcoin proxy. And Saylor broke the never-sell pledge that anchored every previous premium calculation. The BitVac is real. The architecture is disclosed. The cycle still runs. But its fuel is the premium and the premium required the pledge. Saylor named the BitVac on Saturday. Saylor named what would force him to sell Bitcoin on May fifth. Saylor named the credit logic that requires the option to sell on May tenth. The empire built on premium now trades at discount. The widow-maker that Strategy outran for four years just acquired a public name.

This is the Festival del Costillar Criollo in Argentina, where more than a thousand beef rib racks are slow-cooked over wood embers during a huge celebration of traditional gaucho (South American cowboy) culture and barbecue traditions.

Paramount is developing a new Godfather sequel from a "woman's point of view." It's called "Connie," a feminist retelling of the Godfather events from Connie Corleone's perspective based on a novel of the same name. Why do feminists keep doing this kind of thing?

The European mind can’t comprehend this