Tanuki
400 posts
Tanuki
@TanukiTreasury
Bitcoin, Bitcoin Treasury, and Preferred Share enjoyer. Living in Japan
Strive acquired an additional 1,109 $BTC for ~$85.4 million at an average cost of ~$76,988 per bitcoin. STRIVE SNAPSHOT Bitcoin holdings: 16,500 QTD BTC Yield: 11.0% YTD BTC Yield: 23.4% Amplification ratio: 45.2% $ASST $SATA
People are going to be shocked when $SATA spends more days at par this month than $STRC. The next shock will be when the 30-day VWAP for $SATA is higher than $STRC's. There is no reason for retail investors to choose 11.5% yield over 13% and they are most of the demand.
Can you hear STRF STRC STRD being “pulled up the capital stack”? Once converts are gone it’s time for re-ratings. Then TradFi pools can participate even more in exploiting the asymmetry with these instruments vs dilutive real returns with traditional credit instruments (IG bonds, junk debt, private credit, etc) Apex carry is in infancy stage still.
At around 3:30am this morning, one thing I said was: I will stop bear posting $ASST, if the top managers debate me. Matt and Jeff sure were happy to allow me to host a bullish Space for them in July of last year. But now, clownzilla (the “internet detective”) and the bankless guys who think “MicroStrategy” has “Margin” have the focus. Why is that? Because the downside risk of them being on a LiveStream against me is far, far greater, than any potential upside. That’s a fact. If it’s not, prove it. Instead of being a varsity player dunking on freshmen, play against another varsity guy.
Here's my conversation with @TrustlessState of @Bankless We unpack $SATA and $STRC, the landscape of Digital Credit, Strive & Strategy business model, and rebuilding the world's trust infrastructure from the ground up. Great follow up conversation to @saylor joining the pod last month. [TIMESTAMPS] 0:00 Intro 1:59 Stretch, Risk, and Balance Sheets 5:28 Dividend Backstop Debate 8:53 Measuring Bitcoin Downside 15:25 Success as Long-Tail Risk 19:17 Common Equity as Revenue 25:57 Digital Credit’s Massive Market 29:37 Credit, Liquidity, and Yield 33:02 Banks, Trust, and Inflation 36:08 Trust Networks Rebuilt 40:26 Digital Labor and Yield 44:38 Bitcoin’s Growing Capital Base 48:36 S-Curve and Market Size 52:36 Building on Bitcoin Instruments 55:58 Transforming the Asset 59:12 Co-opetition in Bitcoin Credit 1:03:23 Low Vol for Long Holders 1:09:13 Strive Versus Strategy 1:12:38 Scaling Faster Than Strategy 1:17:30 Closing & Disclaimers
Here's my conversation with @TrustlessState of @Bankless We unpack $SATA and $STRC, the landscape of Digital Credit, Strive & Strategy business model, and rebuilding the world's trust infrastructure from the ground up. Great follow up conversation to @saylor joining the pod last month. [TIMESTAMPS] 0:00 Intro 1:59 Stretch, Risk, and Balance Sheets 5:28 Dividend Backstop Debate 8:53 Measuring Bitcoin Downside 15:25 Success as Long-Tail Risk 19:17 Common Equity as Revenue 25:57 Digital Credit’s Massive Market 29:37 Credit, Liquidity, and Yield 33:02 Banks, Trust, and Inflation 36:08 Trust Networks Rebuilt 40:26 Digital Labor and Yield 44:38 Bitcoin’s Growing Capital Base 48:36 S-Curve and Market Size 52:36 Building on Bitcoin Instruments 55:58 Transforming the Asset 59:12 Co-opetition in Bitcoin Credit 1:03:23 Low Vol for Long Holders 1:09:13 Strive Versus Strategy 1:12:38 Scaling Faster Than Strategy 1:17:30 Closing & Disclaimers
JUST IN: Nasdaq Bitcoin Index options granted approval by SEC, Bloomberg reports 🇺🇸
A friend of mine just sold a property and is now sitting on about $245,000 in cash. He was considering buying an apartment outright in Miami, no mortgage, paying cash, even with a $675/month HOA association fee. After all expenses, he estimated he could net around $1,500 per month if he rented it. I brought up Bitcoin, but he’s very risk averse, so he immediately shut that idea down. Then I mentioned $STRC. At an 11.5% yield, that same $245,000 could potentially generate around $2,347 per month, without dealing with tenants, vacancies, repairs, or HOA issues. I mentioned STRC is not risk free. That it may potentially generate more income, but it comes with different risks than a rental property such as market risk, structural risk, and potential changes in yield. Today he’s going to look into it and do his own research. Hopefully he makes an informed decision and chooses the option that best fits his goals and risk tolerance. Sometimes people don’t choose the safest option. They choose the risk they understand best. And thats ok