Giovanni Edoardo Ciani

@GrainofSaltSF The best post about Bitcoin Treasury Companies I have ever read. Great job 😊 @GrainofSaltSF

Bitcoin Treasury Metrics (Reference Guide) The confusion comes from using the word Leverage to describe multiple different things. These metrics measure different metrics and can all be true at the same time. 1. Net Debt Leverage (Debt - Cash) / Bitcoin NAV Measures Balance Sheet Risk. @Strategy : ~8% @Strive: Negative (Debt = $0, Cash ≈ $140M) 2. EV mNAV Enterprise Value / Bitcoin NAV Enterprise Value = Equity + Debt - Cash + Preferreds Measures Valuation. Not Leverage. Not Amplification. 3. Equity mNAV Equity Value / Bitcoin NAV Measures how the market values the Common Equity relative to the Bitcoin Balance Sheet. Ignores Debt, Cash, and Preferreds. 4. Amplification Bitcoin acquired through securities that are not represented in Basic Shares Outstanding or Assumed Diluted Shares Outstanding (ADSO). $SATA $STRC Bitcoin increases. Basic Shares Outstanding does not increase. ADSO does not increase. That’s Amplification. 5. Multiplication Increased Common Shareholder Upside Participation with $MSTR $ASST. Multiplication can come from Leverage, Amplification, or both. Multiplication is the Outcome. Leverage and Amplification are Mechanisms. Why This Matters Strategy has positive Net Debt Leverage (~8%), positive Amplification, and positive Multiplication. Strive has negative Net Debt Leverage (Debt = $0, Cash ≈ $140M), positive Amplification, and positive Multiplication. Many investors assume: More Multiplication requires more Leverage. Strive demonstrates that Amplification can create Multiplication even while Net Debt Leverage is negative. That’s the distinction most people are missing.

@saylor @Strategy Too much talking, look the $SATA outperform on $STRC and then fix it!

Which stock is MoST inteResting? $MSTR

@saylor Last time you said that ( last week ), STRC lost 15 % and MSTR lost 30%, so it’s better if you take a vacation!

Bitcoin is working today. So are we.

@saylor It’s OBVIOUS that you are the real problem, no the product and of course not the underlying asset. So step down and enjoy your retirement!

Volatility tests every capital structure. Strategy remains focused on Bitcoin, disciplined capital allocation, credit quality, and long-term value creation. We appreciate our investors and will continue to execute with transparency and resolve. $MSTR

@saylor $SATA +4,44 while $STRC -0,78, admit you are not able to manage it anymore and stay in your home!!! Do you know why? Because @Strive mantains the promises that makes and you change every week your guidance!!!

@CJ_Bitcoin @Strategy 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

@saylor $SATA +2 while $STRC -0,75 and BTC +0,7, step down and let the @Strive team run the games @PunterJeff

@saylor Step down and let @PunterJeff run the games!

@phongle Your taking joke of the investors, times like these??? SPX in almost an ATH, and your fuckin stock $MSTR down 85%?? Your " savings account " STRC down -25%? Let's step down guys @phongle @saylor

Global markets and sectors are experiencing unprecedented uncertainty. We accumulated 4% of the world’s apex digital asset for times like these. $BTC $MSTR

$MSTR is not going to zero. the balance sheet is strong, and bitcoin isnt going anywhere. i was here last time in 2022 when everyone thought saylor was gonna get liquidated. when the market is loudly calling for lower, start stacking, just like the big boys are doing.

@phongle Not bad to be down -16 % in only three days in a so called “ money market fund “ 😂😂😂😂😂 @phongle, guys you are a joke @saylor

I bought $1 million of $STRC today. Will hold it until it reaches par, likely longer.

@phongle Not bad to be down -10% in only two days in a so called “ money market fund “ 😂😂😂😂😂 @phongle, guys you are a joke @saylor

@thepowerfulHRV $STRC is down because MSTR staff is misleading the public!

$MSTR is down because Bitcoin is down.

@phongle DON'T TRY TO MISLED INVESTORS REGARDING YOUR AWFUL PERFORMANCE AND MARKETING STRATEGY on $STRC !!!

Bitcoin and AI are the two most transformative technologies of the 21st century. Markets rarely appreciate transformative technologies in a straight line.

@phongle Not bad to be down -7 % in only two days in a so called “ money market fund “ 😂😂😂😂😂 @phongle

@saylor @Strategy Like always, you always say nothing!

Digital Credit is income for investors who believe in Bitcoin. $STRC

@saylor @Strategy A “ money market fund “ . Ridicolous 😂

@phongle Not bad to be down - 4 % in only one day in a so called “ money market fund “ 😂😂😂😂😂

@saylor @Strategy Nothing to say on STRC? It’s having more volatility than BTC and MSTR 😂

Building on ₿846,842.

@phongle Nothing to say or to announce according to STRC horrible performance? @phongle

Measured over their first 10 months, $IBIT and $STRC are two of the fastest-growing financial products in history. Both are built on Bitcoin.