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Retail Ry 🏧🟧
4.6K posts
Bitcoin is Digital Capital. Strategy transforms it into Digital Credit. $BTC
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Scott Bessent is Trump’s Treasury Secretary.
He’s a former student of George Soros: the infamous mega-trader responsible for ‘breaking’ the Bank of England in the early 90s.
Soros popularised the concept of reflexivity in finance: the idea that markets never find an equilibrium and instead oscillate between boom and bust.
Few in the world understand reflexivity as well as Bessent.
Strategy [Nasdaq: MSTR] is a case study in reflexivity.
The Administration know exactly what they are doing.
Volatility is vital to the US national interest.
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“Worldwide wrestling” Yes.
- @marsspitsbarz
Terence Michael@ProofOfMoney
The beauty of Bitcoin is the ability to run whatever version of the software you desire. Regardless, no version changes Bitcoin's fundamental laws. All of us must agree on those. But today, @marsspitsbarz revealed there's an option I had not considered 🤣
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@CJ_Bitcoin @aRizzolo21M Oh, we’re not just going anywhere.
Rather, we are going everywhere.
PS: the electricity trading idea is so real and positively impactful.
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Retail Ry 🏧🟧 retweetledi
"We're not going anywhere. We're the largest identified holder of bitcoin. My objective would be [to remain] the largest buyer of bitcoin for the foreseeable future." $BTC
Phong Le@phongle
I joined @kgreifeld and @RomaineBostick on Bloomberg today to discuss Strategy’s evolution into a Digital Capital platform, our $3B cash reserve, $STRC, balance sheet resilience, and our long-term commitment to Bitcoin. 01:17 - Strategy’s evolution from Bitcoin Treasury Company to full Digital Capital platform 01:25 - Over 840,000 BTC, $10.5B of $STRC, and Strategy’s responsibilities 01:45 - Why Strategy built a $3B cash reserve after listening to preferred shareholders 02:30 - The path for $STRC: build USD reserves, return $STRC to par, issue more $STRC, and buy $BTC 04:22 - $MSTR’s goal: outperform Bitcoin over time while managing volatility through bull and bear markets 05:41 - Balance sheet resilience and why debt risk is low 06:50 - Strategy’s long-term Bitcoin commitment: “We’re not going anywhere” 07:04 - Bitcoin is bigger than Strategy: 4% ownership, $30–40B of daily volume, and bitcoin sales that did not move the market 08:46 - Software, AI, Bitcoin, and the maturity of a 25-year public company operating inside digital finance
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Retail Ry 🏧🟧 retweetledi
The real heroes are the investors of Twitter who endured a -70% drawdown in their investment portfolio.
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@eddyluxe_ @BitStrategy21 @marsspitsbarz @ray_bon_ ***girl***
She just presents masculine like all female K9s.
Especially Mal-Mamas with the black mask.
Retail Ry 🏧🟧@ryQuant
Harder, faster, stronger, smarter. #Vega $MSTR
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@Kafka7invest @BitStrategy21 @marsspitsbarz @ray_bon_ “Fed” here is the other context.
As far as The Fed Reserve, who knows.
Trump of course wants a dove with Warsh, but I have no idea where rates are going. FFR or market rates.
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@CryptoKaleo You haven’t said one thing of substance this entire time.
Retail Ry 🏧🟧@ryQuant
@CryptoKaleo You haven’t said one thing of substance this entire time. It doesn’t take a genius to point out that price is bad.
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@ChrisMMillas The primary feature of credit is stability.
Stability in both:
-The principal
-The yield
Retail Ry 🏧🟧@ryQuant
Mr. Rockefeller on MSTR’s @Strategy (The takeaway message is that the world’s richest people, and perhaps some companies & countries, simply want a bond type instrument with a dividend yield and low volatility, to finance their expenses with the dividend income.)
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The entire $MSTR business model is now oriented around credit instruments.
That changes the psychology of the investor base.
Equity investors are willing to tolerate volatility because they are chasing long-term upside.
Credit investors are different.
The primary concern for credit investors is the confidence that dividends will continue to be paid, regardless of what markets are doing.
Given the volatile nature of Bitcoin, that confidence cannot depend on the day-to-day price of
$BTC or $MSTR.
Instead, it must be derived from a larger USD Reserve.
IMO, one that is large enough to fund dividends through a full typical market cycle.
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Retail Ry 🏧🟧 retweetledi
Look, here’s the reality:
The easy money has already been made in $BTC.
Planning one’s portfolio around a worldview of a massive price shock that re-prices BTC by order(s) of magnitude rapidly, or worse, expecting a complete collapse of the USD (which greatly overlooks the power and influence of NATO), is ill-advised.
Given this, the only ways for a 20 or 30 something year old to have the optionality of escaping the corporate lifestyle, is to (1) study and implement Options Theory or (2) Found a startup and own a material amount of equity.
That’s it.
And the massive benefit of number (1) and (2) above, is the repeatability of both of them, in both absolute and in relative terms to this perceived $BTC scenario.
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@28delayslater This site has seen zero fundamental improvement since Elon bought it.
Remember the “we will defeat the bots or die trying.”
Lmao.
The CT is great tho!
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Nice the algo is fixed but really highlights how much they broke it 😂
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@Fermitthakrog8 @AdamSimecka A well known misinterpretation of GAAP accounting,
vs.
The implied current overlay of that story into the present, suggesting that Strategy may not have all, or any, of the 800k+ coins they claim to.
It’s apples to oranges.
It’s a bridge too far.
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Strategy is only really screwed if they don't actually have 800,000 bitcoin. But they said they have it. So, they must. Right? Only Coinbase knows.
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Retail Ry 🏧🟧 retweetledi
“No price is too high to pay for the privilege of owning yourself.”
— Friedrich Nietzsche
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The value of adding anti-correlation to the business cannot be overstated.
Retail Ry 🏧🟧@ryQuant
Anti-correlation > excess return.
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As a thought experiment:
If the business remains as is, in 100 years, @Strategy will pay for all the Pref funded BTC we buy in the next decade, 10 times notionally, via the dividend. (Yes I get it the M2 money supply CAGRs at 7%)
Buying 1 Bitcoin and paying for 10. (Notional)
What’s much, much more compelling is, at some point we hit the common ATM and start some combination of in house venture and/or acquiring companies.
Sell Prefs & Buy BTC (we are here)
HODL millions of coins
Buy companies & venture
FCF goes positive
ROC Dividends go away
Buy Prefs in open market forever
Keep buying more companies
CSPs & CCs on QQQ and own it
Buy more companies
Buyback the common stock forever ♾️
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