Sean Bill

@_julian256_ @adam3us @HankatRoxomTV He’s fast!

@adam3us @HankatRoxomTV @macrocrunch yes just drilling some PLL algos can be very satisfying on a smooth cube I knew there were some hidden speed cubers among bitcoiners, very cool

Today, I had the honor hosting two living legends - @adam3us and @macrocrunch - on the show to talk @BSTR_Holdings, the Strategic Bitcoin Reserve, and where Bitcoin’s headed. Adam also solved my desk Rubik’s cube in the time it took me to ask my first question. Apparently he’s a speed cuber. Apparently he’s also a cryptographer. Apparently the New York Times thinks he’s something else entirely. 😎

"DIPS EXIST TO TRANSFER BITCOIN FROM WEAK HANDS TO STRONG HANDS" @adam3us on how every Bitcoin cycle works 👇🏽

ADAM BACK ON HIS BET THAT BITCOIN WILL HIT $1,000,000 BY 2028 "We'll see." - @adam3us 👀

bitcoin treasury companies are an arbitrage between the fiat present, and the hyperbitcoinized future.

There’s an old adage: “never meet your heroes.” @saylor proves the opposite — open, insightful, and relentlessly optimistic. A true builder with an entrepreneurial mindset backed by institutional scale. Great meeting you, Michael! @MicroStrategy @Strategy @bstrco @Blockstream

The Bitcoin Standard Treasury Company @bstrco will pursue an actively managed #bitcoin treasury, using #btc as an asset. With an experienced team that has managed multi-billion dollar portfolios, #BSTR will bring an entrepreneurial mindset with institutional resources to catalyze the Future of Finance on Bitcoin. @adam3us @Blockstream @NYSE @crypto @BloombergTV @Anchorage @NYDIG @BitGo @okx @coinbase @DeribitOfficial

Well said @saylor!

Raising 5,021 $BTC is no simple feat, but that's exactly what @bstrco did under the leadership of Co-Founder and CIO @macrocrunch. Sean is joining the BitGo High Roller Summit inside @TheBitcoinConf in Las Vegas later this month. Register and learn more: bitgo.com/events/high-ro…

boom 🎤 drop. nice edit @pete_rizzo_👍 this is why in @olgakharif's @bloomberg article I said it's very tradeable buy the quantum research over-hyped market dip, profit as people BTFD, as the smart money know's quantum computers are for now blue-sky research for years, if not decades to come.

This story in the NYT was a fascinating read. Here was @adam3us’s response earlier this year when I asked how often he fields questions about whether or not he’s Satoshi.

Simplicity is expanding what's possible to build on Bitcoin layer-2. Offering formally verified smart contracts and live on @Liquid_BTC, Simplicity is already powering a growing ecosystem of applications. This May, join developers at the forefront of Bitcoin innovation in Europe.

@AdamBLiv Solid analysis Adam, much appreciated!

STRK: A Strange Little Gift STRK right now has a higher effective yield than STRC... AND you get the convertible upside into MSTR. AND you'd be holding a ticker less volatile than NVIDIA and Meta. Assume BTC is $66,756 today, MSTR is $121.44 today, and MSTR delivers only 1.33x Bitcoin’s percentage return from here to $500,000. No modeled increase in Bitcoin per share. No mNAV expansion. No extra magic from accretion. Just raw beta. Now use $100,000. At $99.97, STRC buys 1,000.30 shares. At the current payout rate, that throws off about $11,503 per year. At $69.21, STRK buys 1,444.88 shares. With an $8 fixed annual dividend on $100 par, that throws off about $11,559 per year. So on the same $100,000, STRK currently pays you slightly more cash than STRC because you are buying the 8% coupon at a much steeper discount to par. Then the real asymmetry kicks in. If 1 STRK share converts into 0.1 MSTR share, buying STRK at $69.21 means you are effectively locking in a future MSTR basis of $692.10 per share. Now run the Bitcoin math. BTC going from $66,756 to $500,000 is a 648.996% return. If MSTR only does 1.33x that percentage move, MSTR returns 863.17%, which takes it from $121.44 to about $1,169.67 per share. Again, that assumes zero help from Bitcoin-per-share growth and zero help from mNAV expansion. Pure mechanical beta. So what happens to the $100,000 in STRK? 1,444.88 STRK shares would convert into 144.49 MSTR shares. At $1,169.67 each, that becomes about $169,003. That is a 69.0% capital gain on the conversion value alone, before counting any dividends collected along the way. That is why STRK is so interesting here. You get paid slightly more income than STRC right now on the same capital deployed, and you preserve a path into future MSTR at an implied cost basis of $692.10. STRC is the cleaner income instrument. STRK is the higher-yielding discounted convertible with embedded upside. If your base case is that Bitcoin eventually goes to $500k, and MSTR merely behaves like 1.33x Bitcoin from here with zero contribution from BTC-per-share growth or mNAV rerating, STRK looks like the more intelligent place to sit. The market is offering cash flow today and convexity tomorrow, in the same wrapper. That is a strange little gift.

evergreen explainer about the spam problem fundamentals, from Andrew Poelstra (@blksresearch). read a few times, very carefully to adjust intuitions.

Here is a clip from my interview with @BrookeDiPalma @YahooFinance from earlier today on the outlook for #Bitcoin and institutional adoption. @bstrco @milocredit @hodlwithLedn @DigitalAssets finance.yahoo.com/video/how-bitc…

Here it is... the #Bitcoin chart that I referenced this morning @YahooFinance with @BrookeDiPalma, no surprises here, right on schedule if you follow the four year cycle in #BTC. The recent low (2/06), the bottom of the channel and the 200 week SMA converging at +/- $60,000. @bstrco @adam3us

Bitcoin's first and most battle-tested sidechain just received a cryptographic upgrade thanks to @blksresearch and enhancements upstream from Bitcoin. - More secure API functions - Faster ECDSA and Schnorr signing - Faster pub-key generation - Faster ZKPs like CT and CA

Today’s briefing on a De Minimis exemption for Bitcoin was a great success. Our panel delivered a strong, data forward case for De Minimis relief. Coinbase presented new stats showing that a De Minimis exemption would bring administrative relief by saving millions of unnecessary forms being sent to the IRS. Thank you again to @karacalvert , @janessalopez__ and @wmongan for participating and all the staffers who joined. We’ll keep everyone updated as legislation progresses.

Lightning is now on the Blockstream desktop app. Receive @Liquid_BTC via Lightning directly to your desktop wallet. Pay Lightning invoices from your LBTC balance. Swap between Bitcoin and LBTC without a custodian. Three layers. One open source app.

Hmmm.... looks like the #options markets are playing a big role in establishing support ($60K puts) and resistance ($75K calls) in #Bitcoin. Consolidate above $75K and then next level is a retest of $125K. @adam3us @bstrco @glassnode