Khing Oei

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Khing Oei

Khing Oei

@khingoei

Founder & CEO @Treasury_BTC. Chair @cypherpunk. Founder @maicrotrader. Ex Hedge Fund Founder/CIO, @GoldmanSachs, Fortress

Katılım Nisan 2011
2.8K Takip Edilen12K Takipçiler
Khing Oei
Khing Oei@khingoei·
US CPI dropped for the first time since 2020, falling 0.4% vs May. Decline in gasoline prices the obvious driver. Welcome news for the Fed, and bullish for Bitcoin.
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Khing Oei
Khing Oei@khingoei·
@_ZaricX Exactly, it’s always about the long-term.
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Zaric
Zaric@_ZaricX·
@khingoei progress feels slower inside but the bigger picture is clear
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Khing Oei
Khing Oei@khingoei·
Another great initiative. Shows how far we've come over the past few years - but also that we're still early. And that all of us in the space have our work cut out for us.
Phong Le@phongle

Introducing the Bitcoin Bank Adoption Index. Adoption of Bitcoin and the related digital asset ecosystem across major banks and financial institutions is accelerating, but still early at 32%. Methodology and updates to follow. Institutions with questions, corrections, or additional public information: ir@strategy.com.

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Khing Oei
Khing Oei@khingoei·
@ross30211931 That's part of life for a sizeable listed company. Remember AAPL at some point had more than $200 billion of cash on its balance sheet.
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ROSS
ROSS@ross30211931·
@khingoei But he will never draw on the cash so it will just lose value every year. And to think he will just continue to sell shares to fund everything is a joke at this point.
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Khing Oei
Khing Oei@khingoei·
@AdriansCryptoo Once $STRC yields come in, and they should with this cash balance - I assume yes.
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Adrian
Adrian@AdriansCryptoo·
@khingoei Is this the start of another buying spree
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Michael Saylor
Michael Saylor@saylor·
Orange dots tell only part of the story.
Michael Saylor tweet media
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Khing Oei
Khing Oei@khingoei·
@Coinmaster100x BTC trades 24/7 and is one of the most liquid assets in the world, so when macro moves it's the first place risk appetite gets expressed — especially on weekends when everything else is shut. One of the many value-adds Bitcoin has brought to TradFi.
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Master
Master@Coinmaster100x·
@khingoei interesting how macro events are now impacting crypto narratives
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Khing Oei
Khing Oei@khingoei·
Interesting end to the TradFi trading week yesterday. bitcoin:native back above 64k after the flush to 61.5k. The relief came from Tokyo: 10-year JGB yields reversed off 30-year highs after Finance Minister Katayama said the government would encourage domestic pension funds to buy Japanese assets. The world's largest creditor nation is arranging buyers for its own debt. Meanwhile Bitcoin took a carry-trade scare, an oil spike and a firmer dollar in one week and got bought each time. Bullish.
Khing Oei tweet media
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Khing Oei
Khing Oei@khingoei·
Bitcoin has already won as Digital Capital. The next wave — Digital Credit, Digital Money, Digital Yield — will be built on top. Europe has the world's deepest hybrid & credit markets. Excited to build on that foundation.
Michael Saylor@saylor

Bitcoin has already won as Digital Capital. The next wave is Digital Credit, Digital Money, Digital Yield, and Bitcoin-backed capital markets — products that can bring trillions of dollars of traditional credit and money market capital onto Bitcoin. My interview with @Cointelegraph at @BTCPrague. 00:57 — Bitcoin in a drawdown: five major pullbacks in six years, stronger fundamentals, and rising dominance 02:23 — Digital Credit: from zero to an $11B+ asset class in 12 months 03:35 — Digital Money: bitcoin-backed yieldcoins and the path from 40 vol to 0 vol 04:31 — The opportunity for 8% yield in dollars, euros, yen, pounds, and francs 06:02 — $300T of credit, $30–50T of money markets, and the $10T opportunity for Bitcoin 07:19 — Why Bitcoin is winning economically, technically, and ethically 08:26 — Quantum computing, FUD, and why bear markets amplify Bitcoin debates 10:37 — AI capital rotation, Bitcoin’s current drawdown, and the path to recovery 11:36 — Six years of Strategy: why I would have moved faster into Digital Credit 12:22 — The ideal Bitcoin Treasury Company: common equity plus STRC-style Digital Credit 14:35 — The 32 BTC sale, the $100M bitcoin buyback, and why capital must back credit 17:02 — Defending the equity, credit, and bitcoin-backed capital structure 19:03 — The tradeoff: buy 200,000 BTC and sell 10,000 BTC — or buy and sell zero 20:15 — “Never sell,” Twitter trolls, and Strategy’s fiduciary obligations 22:06 — Bitcoin per share, long-term accretion, and accumulating through bull and bear markets 22:34 — $21B of equity raised in 16 weeks and ~$10B of bitcoin acquired this year 24:18 — The Strategic Bitcoin Reserve, US leadership, and supportive regulation 27:18 — Digital Credit, bank credit, and Digital Money bringing trillions onto Bitcoin 28:01 — Why Bitcoin can grow organically without central bank support

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Khing Oei
Khing Oei@khingoei·
EUR/USD recently made a yearly low. For European BTC treasury companies, EUR weakness is structurally accretive. Bitcoin is priced in dollars. I expect further EUR weakness as DXY continues to rise and French/German elections come up with populists leading the polls.
Khing Oei tweet media
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Khing Oei
Khing Oei@khingoei·
Strategy's one-way-issuance phase built by far the world's largest Bitcoin balance sheet. Active capital management is what manages and compounds it. $MSTR making the shift from accumulation to allocation is the clearest signal yet that Bitcoin treasury companies are capital markets operators, not passive holders - as always continuing to innovate and evolve.
Phong Le@phongle

Strategy is evolving from one-way capital issuance to active capital management.

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Hira
Hira@Hiraweb3·
@khingoei dollar takes a breather, markets breathe fire
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Khing Oei
Khing Oei@khingoei·
The Dollar fell sharply on weak payrolls yesterday. In a Fed with less forward guidance, each data release moves markets. No anticipation buffer. For European allocators, USD weakness + QE-like macro conditions means the transatlantic allocation thesis is changing quickly.
Robin Brooks@robin_j_brooks

Pretty chunky drop in the Dollar on today's weak payrolls. It would be the irony of all ironies if the Dollar falls because of good, old-fashioned data and that's of course exactly what should happen in an era where the Fed does less forward guidance... robinjbrooks.substack.com/p/peak-dollar-…

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Khing Oei
Khing Oei@khingoei·
@DerivativesDon It has - but then again I was in special situations investing for most of my career
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Derivatives Don
Derivatives Don@DerivativesDon·
@khingoei Trading 12 cents below par on a monthly, market rate re-settable security that was just re-set Let that sink in
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Khing Oei
Khing Oei@khingoei·
@MNSportzFan The key here is relatively low leverage. Strategy shows their break-even clearly on their website and communicates various scenarios in their 10-Qs.
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Brent Weaver
Brent Weaver@MNSportzFan·
@khingoei Genuine question, how does the business model make sense? $MSTR has to potentially liquidate $BTC at low prices to keep $STRC near par, and buy $BTC at higher prices when $STRC is above par? Hard to imagine a scenario where $BTC prices drop and $STRC is trading above par...
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Khing Oei
Khing Oei@khingoei·
@gr8tixx First question then is based on what STRC traded as low as 72. Imo perceived increased credit risk and therefore higher required yield. The opposite is happening now and as credit fears continue to subside we’ll see a pull to par.
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Khing Oei
Khing Oei@khingoei·
@DerivativesDon So far that’s not happening. Despite BTC being in the same zip code as before the announcement, STRC is up quite a bit to 87.4 today. The increased cash reserve makes all the difference and lowers the credit risk.
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Derivatives Don
Derivatives Don@DerivativesDon·
@khingoei The market will most certainly continue to test his resolve by testing lower and lower prices until he actually buys them back. Self fulfilling prophecy - lower prices force higher coupons $BTC higher obviously puts pressure in the other direction.
GIF
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Keşfet

@_ZaricX @ross30211931 @AdriansCryptoo @saylor @Strategy @Coinmaster100x @Hiraweb3 @elonmusk