Max Thorne

Bitcoin is not crypto. Crypto is a dirty word. Most people lumping them together are either confused or selling something. New article. Link in bio.

@DailyStackHQ @NeilJacobs Bitcoin is digital Capital/Property that can be converted instantly into money. The confusion is understandable. It’s the first time we’ve ever had something like this.

@MaxThorneX @NeilJacobs Fair enough, you may be right!

Bitcoin is money.

@AdamBLiv Adam- not that my vote is really worth anything. But, when you talk about MSTR going forward, I find it very helpful to hear the shares per Bitcoin as opposed to Sats per share.

You know how when you get orange pilled on Bitcoin it’s extremely frustrating watching people just NOT GET IT? Yeah, that’s what it feels like watching you fade MSTR.

@CoachKorey3 We’re all just passing through my friend. Sorry for the loss.

Just learned my childhood best friends brother passed away this past weekend Only 33. Motorcycle. Just snapped me days before the accident. Makes me sad ☹️ 🙏 Life can be so short, so love so fully.

@RonSwanonson @0xEthan ‘Still in crypto’ is the funniest thing I’ve heard today.

@0xEthan Being 42 in Bitcoin is no work You buy Bitcoin and do nothing And win forever

Being older than 30 and still in crypto is crazy work

Stop worrying about the daily Bitcoin price movement. Just stop.

@DailyStackHQ @NeilJacobs This is right. But, it is also more than just money. I think that is where people get confused.

@NeilJacobs There is nothing to debate about. This is a fact, this is reality, this is the truth. And anyone claiming otherwise should stop spreading nonsense and start educating themselves about Bitcoin immediately.

@AdamBLiv I’ve been selling puts to own more shares and using the premiums to buy calls. Boom

🚨HOW TO OUTPERFORM BITCOIN BY 3X AND OUTPERFORM MSTR BY 2X🚨 I found the most deranged way to express the Bitcoin bull case without personally levering my house, my dog, and my remaining emotional stability. The trade: Buy the MSTR Dec 2028 $275 call for about $6,200. Yes. A call option on Michael Saylor’s publicly traded Bitcoin refinery, funded by preferred stock, wrapped in CEBE math, floating through the fiat hospice ward like a radioactive orange hearse. Here’s the setup. Bitcoin is around $76,500. Strategy owns 843,738 BTC. MSTR trades around $165. Strategy has roughly: $8.25B of debt $15.48B of preferreds $2.25B of cash Net senior claims: $21.48B. Using CEBE, you subtract the senior claims from the Bitcoin stack because common shareholders do not economically own the whole pile. They own what is left after the capital structure’s velvet-rope vampire lounge gets paid. At today’s BTC price, those senior claims equal about 280,824 BTC. So Strategy’s common equity has claims-adjusted exposure to roughly: 562,914 BTC. That is the real common equity Bitcoin base. Now here’s where the trade goes full financial Chernobyl. Assume Strategy issues $2B/month of STRC for 30 months. Think that's a bullish assumption? Hardly. They issued MORE THAN THAT during both April AND May. This is BEARISH. Correct... this is assuming STRC growth SLOWS DOWN. Over the 30 months until your option expires, that is $60B of new preferred stock. They use it to buy Bitcoin every month while Bitcoin moves linearly from $76,500 to $250,000 by Dec 2028. By the way, that is $110,000 UNDER the Bitcoin power law fair value. ANOTHER bearish input. That $60B buys about 409,437 BTC. So Strategy’s stack grows from: 843,738 BTC to 1,253,175 BTC. (they'll have close to that a year from now actually, LOL) But the new $60B senior claim, at $250k BTC, equals only: 240,000 BTC. That means the $60B STRC machine buys 409,437 BTC, while the claim against common is only 240,000 BTC by the end. Net new common CEBE created: 169,437 BTC. That is the whole game. Saylor borrows in fiat-brained preferred stock, buys apex collateral, waits while the dollar claim shrinks in Bitcoin terms, and common shareholders get the spread. It is like taking out a mortgage on a burning retirement home and using the proceeds to buy Manhattan before the zoning board discovers fire. Now model the outcomes. Bitcoin goes from $76,500 to $250,000. BTC return: 3.27x (+227%) MSTR, under the CEBE model with the same current claims-adjusted multiple, goes from about $165 to about $886. That's correct... ZERO multiple expansion: MSTR return: 5.38x (+438%) Already disgusting. Bitcoin buys you the orange ark. MSTR buys you a seat in the engine room with a man in a suit converting preferred shareholders into escape velocity. But the option? The Dec 2028 $275 call costs about $62/share. One contract costs $6,200. Breakeven: $337. If MSTR hits $886, that call is worth: $886 minus $275 = $611/share. Contract value: $61,100. Return: 9.86x (+886%) So in this model with BEARISH ASSUMPTIONS: Bitcoin goes 3.27x. MSTR goes 5.38x. The call goes 9.86x. That means the option outperforms Bitcoin by roughly 3x. And outperforms MSTR common by roughly 2x. This is the financial equivalent of discovering the casino built a second casino inside the first casino and the fire exit is priced as a long-dated derivative. STRC is basically Saylor saying: “Give me your fixed income money, I will buy Bitcoin with it, and if the monetary system continues behaving like a raccoon trapped in a Federal Reserve air duct, my common shareholders keep the upside.” The option is the most violent version of that thesis. You are not buying Bitcoin. You are not even buying MSTR. You are buying a long-dated claim on the possibility that: Bitcoin goes to $250k (under power law fair value) Strategy keeps issuing preferred stock (slower than they already are) The market keeps valuing MSTR at a premium to claims-adjusted BTC exposure The fiat system continues speedrunning late-stage empire cosplay Risks? Obviously. If BTC underperforms, the preferred stack becomes a fat guy sitting on the common equity’s chest. If MSTR premium compresses, the option gets its teeth kicked in. If volatility collapses or timing fails, the Greeks drag you into the alley behind Robinhood and harvest your organs. This is not a safe trade. This is not a retirement plan. This is not financial advice. This is financial entertainment. This is a leveraged bet on Saylor turning the preferred stock market into a Bitcoin particle accelerator before the fiat priesthood realizes the altar is on fire. But if the model is right? BTC: +227% MSTR: +438% MSTR $275 Dec 2028 call: +886% That is how you potentially outperform Bitcoin by 3x and MSTR by 2x. Welcome to the preferred era. Please keep your arms and legs inside the capital structure at all times.

@TheBTCKnight @MicroStrategy It’s reality.

@MaxThorneX @MicroStrategy That’s insane.

When someone says bitcoin has no adoption and it’s going to zero. This is what I show them. 1. @MicroStrategy $MSTR – 843,738 BTC 2. Twenty One Capital $XXI – 43,514 BTC 3. Metaplanet Inc. $MPJPY – 40,177 BTC 4. MARA Holdings, Inc. $MARA – 35,303 BTC 5. Bitcoin Standard Treasury Company $BSTR – 30,021 BTC 6. Bullish $BLSH – 24,300 BTC 7. Coinbase Global, Inc. $COIN – ~16,492 BTC 8. Riot Platforms, Inc. $RIOT – 15,680 BTC 9. Strive $ASST – 15,009 BTC 10. Hut 8 Mining Corp $HUT – 13,696 BTC This is not even two decades of adoption. It’s all ready a 2 trillion dollar asset. We are not going to zero. Buy bitcoin:native

@phongle @saylor Well. I’ve been reliably informed by ransoms on X that this will never work.

13 of the top 15 institutional shareholders of $MSTR added to their positions in Q1 2026. Combined holdings increased 27%.

@PeoplesReserve You mean to be approved, you don’t need my dogs birthday or what I had for lunch last Tuesday… revolutionary

✅ No credit check ✅ No income verification ✅ No margin calls ✅ No liquidation risk ✅ No rehypothecation ✅ No forced selling Just $BTC as pristine collateral. Keys today. Stack forever. Self-Repaying Mortgage ⚡ Build Wealth Smarter.

@CoachKorey3 Yep. And then 3x then 4x etc.

Bitcoin to 150,000 is double your money And it’s gonna happen relatively soon.

@SimplyBitcoin Banks are lending money that they do not have. Wish I could do that.

Banks are wild. They will literally get you to sign up and pay for suspicious activity alerts… Yet the banks are the ones doing the suspicious activities. Be your own bank with Bitcoin.

@MatthewRyanCase Proof of work. Proof of use

Proof Of Work.

@Thebitcoinway_ I wish the Federal Reserve were as wise as Homer.

There are no political parties that will stop the expansion of the money supply You can't vote your way out of this Stack #Bitcoin and vote for yourself

Stop casting pearls before swine.

@marc02200 And remember. Always remember… the bank is lending you money that they do not have.

$625k house. 20% down. $500k mortgage at 7%. You end up paying almost $700k just in interest. Total cost? Over $1.4 million for a basic house. Mortgages aren’t helping you... they’re making banks rich.

@SatoshiBagger Scary clown. Not funny clown

Forever wrong...

@BTC_broo And when that time comes you will be able to collateralize your home with Bitcoin (like a down payment) … and the Bitcoin will eat your mortgage.

Until I have a kid, I have ZERO interest in owning a home. Stacking sats relentlessly until that day comes.

@TheBTCKnight @MicroStrategy It’s important to remember that the ‘they’ buying is shareholders (MSTR or STRC mostly)… so, when people say demand is down that is just verifiably incorrect.

The last bear market $MSTR bought $BTC only a handful of times. This bear market @MicroStrategy has basically bought every week. Recently they bought 2 billion dollars worth in a day. This time is different. Buy bitcoin.