Joe Burnett, MSBA
41.5K posts

Joe Burnett, MSBA
@IIICapital
VP of Bitcoin Strategy @Strive (Nasdaq: $ASST $SATA) Views are my own | Not financial advice


Strive Tracking Day 24 $ASST is now ranked 1,916th largest public US company by market cap. Jumped 52 companies today. Larger than $AMC. 786th largest by dollar volume. That's more volume than $TDOC, $UPWK, $YELP, $GPRO, and $BMBL combined. Just a 15x to the top 500.




Measured in USD, Bitcoin has an $∞ TAM. We have seen nothing.


I have taken a position in Strive / $ASST. Average price $7.92. Today's revelation of $127.2 million in cash reserves was the final piece in the jigsaw for me. The market has overreacted to the 1-20 reverse split... not realising that the usual rule of thumb does not apply here. Annual dividend obligation for $SATA = ~$53.3mil which means USD coverage is 2+ years. Only $10 million in debt remaining from Semler Acquisition. I am not a fan of buying multiple Bitcoin Treasuries in the same jurisdiction but the US is the exception. The second largest bitcoin-backed fixed income product in the US is still a trillion dollar opportunity. Fund managers need to diversify and can't have all their AUM in one product. Feeling good about my entry here. Happy to be on board @ColeMacro @PunterJeff @mikealfred @IIICapital 🫡🚀




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