Shitcoin minimalist

This will be an ongoing thread with the worst Bitcoin treasury takes 👇

@Truenorthclips @nithusezni Do Kwon vibes

“You can use $STRC for as long as you want and return it for a full refund” -@nithusezni

Cumulative Return of STRC vs. SPY & QQQ. Best risk adjusted return in the market.

@FrankAFetter I go one stup further ⬇️ x.com/bccponzi/statu…

Ok, can we now agree that the bitcoin halving is no longer and may never have been a price catalyst?

@YBhutwala @btcjvs Saylor doesn't have to, but so far Saylor has been increasing every month, the junkie he is. Im pretty sure this game is already being played were STRC is being bought up just before the ex-div date and being sold off until end of month to trigger another increase by Saylor.

1 month Vwap is $99.94. based on their guidelines, they don't have to increase at all up from 11.50. it's at management's discretion. So this fear is unfounded as interest rate on STRC is not purely mechanical and hence why MSTR is an operational company and not a close end fund like MSCI would fud.

I have a slight concern about $STRC that the market may start to exploit: Buy STRC, hold for 2 weeks, sell (forcing a dividend increase), then repeat. The market may exploit Saylor's plan, and I don’t see why the dividend couldn’t theoretically reach 20%.

@hillery_dan I dont get it, what are they missing what you are not?

STRC's yield is set by market participants. This fact has been largely missed by those who believe Strategy goes bankrupt. (+ they have massive amounts of coverage for these divs)

@Z06Z07 @BurismaConsult @BitPaine See this explanation⬇️ x.com/jfhksar88/stat…

@Z06Z07 @BurismaConsult @BitPaine I did, but you don't seem to understand how this is misleading at best and fraudulent at worst.

Andy has me blocked. You’re comparing two completely different systems. Most preferreds: → fixed yield, price absorbs volatility → slow resets (quarterly to multi-year) → thin liquidity → static collateral STRC: → yield actively resets to maintain par → VWAP-driven adjustment mechanism → continuous liquidity via multiple agents → Bitcoin-backed So yes — volatility compresses. Yes — Sharpe expands. That’s not fraud. That’s structure.

@phongle This chart is a masterclass in statistical manipulation. The Sharpe Ratio of $STRC looks impressive because it was engineered to look that way - not because the instrument is genuinely superior on a risk-adjusted basis. A thread on why this is misleading:

@Z06Z07 @BurismaConsult @BitPaine It's a snakeoil salesman tactic and clearly not the correct way to measure risk vs return. It's like saying BTC has an 10+ sharpe after it moved in a very narrow range for a short period of time and comparing that to the avg yield over years. Both periods need to be the same.

@BurismaConsult @BitPaine Apparently you didn’t read my post. Since $STRC can and has reset yields monthly, and dividend are quoted as a yearly yield, using 30 day vol matches the monthly resets.

@CrisReed x.com/Billz_io/statu…

11.5% annualized performance 1.5% vol It’s unheard of in TradFi circles so I have empathy when many think it’s a scam or going to zero. Their models break which is fine. Just like you had to think outside of the box to understand bitcoin to a sufficient level 10 years ago, it’s the same mental framework someone needs to have especially in the credit world. “Brain-breaking” is an understatement. STRC

@ZynxBTC Saylor simps keep eating whatever Saylor feeds them, doubt you ever heard of sharpe ratio before Saylor decided this would be his new sales pitch. It's a horrible metric for a product like this: x.com/Billz_io/statu…

The volatility of $STRC has fallen dramatically. You're now seeing an unusual combination.. high yield, very low volatility and an elite Sharpe ratio. It's becoming harder to justify not including this product for fund managers. Even a small allocation delivers outperformance.

@phongle x.com/billz_io/statu…

Like clockwork 🚀

@STRchitect @dampedspring The ‘institutional yield desks’

@dampedspring The buyers are institutional yield desks rotating out of traditional IG bonds. When the spread is 11.5% vs 4-5% on corporate debt, the capital follows. It's not retail — it's allocators who see BTC-backed collateral as cleaner than most IG paper.

Is the new buying of STRC funded by

@STRchitect @dampedspring

@saylor @Strategy A high Sharpe in engineered products usually means risk is hidden, not removed. The question isn’t volatility, it’s where the downside is stored. Low vol ≠ low risk.

@gui__dec @based16z The catch is you underestimating the risks. There is no free lunch.

@based16z But actually what’s the catch

This the most bullish thing I seen all year ngl

@VentureCoinist @saylor @Delphi_Digital A bit like Do Kwon you mean?

Saylor's Bitcoin accumulation isn't slowing down. It's accelerating. In less than a year STRC funded 33,976 BTC worth $3.5B and March is on pace for largest increase in coins acquired since launch. @saylor created the infinite BTC bid machine.

@Delphi_Digital ‘Yield investors buying STRC don't care about Bitcoin sentiment’ That’s implying all STRC buyers are retards buying high yield prefs ignoring risks, which seems spot on 😅

Strategy's STRC preferred stock is converting fixed-income capital into spot Bitcoin demand at an accelerating rate. STRC is a variable-rate perpetual preferred stock with a $100 par value. Strategy adjusts the dividend monthly to keep it pinned near par. When it trades at or above $100, Strategy sells new shares through its ATM program and uses the proceeds to buy spot BTC. Yield investors buying STRC don't care about Bitcoin sentiment. They care about getting 11.5% on a low-volatility credit instrument. But every dollar they put in becomes a dollar of spot BTC demand on the back end. STRC funded $119M in BTC purchases in January. By the first week of March that hit $377M in a single week. Since July 2025 STRC has funded 33,976 BTC worth $3.56B across 8 ATM filings. To put the scale in perspective, daily mining output runs about $30-35M in new supply. During the March 1-7 filing period STRC funded 5,315 BTC. That's 1.7x total mining output over the same window. STRC is competing directly with treasuries and money market funds for income capital, and that's a massive market to be pulling from. Annual dividend obligations are now running around $442M and seven consecutive hikes show the cost of maintaining this flow is going up. But if income capital keeps entering STRC at this pace, Bitcoin picks up a durable bid that compounds independently of the crypto cycle.

@IIICapital @Strategy @Strive

"How do @Strategy and @Strive pay the dividend?" 💵🖨️