strictly₿TC

@Entouarnt4 @hillery_dan I don't believe STRKs capital position below STRC is creating weakness in price. If that were true, i'd see a bid on STRF which we haven't.

Yeah I just doubled my STRK position. From here it’s paying more than 27% cumulative in dividends over next 30 months, with room for the principal to easily double over that time period. Plus Saylor slashed the available STRK atm. There are some valid concerns about where it sits in the capital stack given the size of STRC, which is probably being reflected in current price.. Where do you think the floor is on this thing? Hard to imagine it could fall below 60. 13.5% yield is already damn high….

You're cash on cash STRK yield is 13.5%

@BTCoptioneer Lol we wish. At least for the foreseeable future, the focus is on STRC (and secondarily MSTR). The other prefs Saylor would kill them if he reasonably could.

We need a commercial for $STRK which is extremely undervalued and offers the same dividend and higher upside than $STRC

@GhostsInTheLdgr I believe you need a different type of investor that values near risk free. That investor isn't here today. Current investors want low vol and high yield, hence STRC.

@GhostsInTheLdgr @BTCoptioneer STRF is senior to STRC and isn't trading like it is. My belief is that current pref investors aren't differentiating who is highest or lowest. They are mainly valuing the low vol and high yield of STRC. The value proposition is the easiest to understand.

$STRK yield is now 11.2% Similar yield to $STRC with 2-3x upside in the next few years Undervalued…

@stonychambers Yes. Stacked the STRK dip around $67.

$STRK now yields higher than $STRD after adjusting for the equity component. This is the first time this has happened in months. A real gift

@BitcoinStacker0 @saylor Saylor is talking about STRC and STRC is designed to be low vol. MSTR has been incredibly volatile in the last year. Unfortunately downside. Upside will be back Saylor is the largest individual holder of MSTR. He is highly incentivized to not throw it away.

@saylor “Volatility is vitality” Clown. Always changing up your stance. What happened to posting about MSTR? You threw it in the trash along with the 4 other preferred stocks.

Over the past 30 days, $STRC has been less volatile than every company in the S&P 500—and every major asset class—while delivering an 11.5% dividend yield.

@mikewmunz Yes. Volatility sucks if you don't understand and have conviction. But bitcoiners understand bitcoin and welcome the volatility. Over long periods of time, it's up and to the right.

Yes. The illusion of safety and certainty from a paycheck or income is a huge relief for majority of people. Bills don’t stop coming every month. The peace of mind knowing it should be covered is the place most people want to get to and are comfortable This is why volatility is a tough sell. The psychology of volatility creates uncertainty and people spend a lot of time and energy dedicated to trying to eliminate this uncertainty and volatility

SEMI-SHOCK: Morgan Stanley's bitcoin ETF will charge 14bps, making it the cheapest spot bitcoin ETF on the market and 11bps cheaper than $IBIT. This means none of their advisors will feel conflicted using it and they have shot at getting outside assets. Smart. Launch prob in next two weeks. Nice catch on the filing from Marty Party

If you know what this is, we want to follow you 👇

@jratcliff Or reframe it that you're just 5 hours from the US. 6-7 hours from Japan.

@BitcoinTeacher_ Always contribute the amount to get the match. Double check there isn't an option to have a self directed 401K with potential to invest in bitcoin ETFs. Not self custody, but fine for a small amount of the overall net worth.

This is my first year in workforce post grad I was offered a 401k through my employer in late October. Bitcoin had just crashed. 401k had no Bitcoin etf options. I declined the 401k to stack cheap sats. Am I smart or an idiot for doing this?

@ts_hodl In fairness, hardcore bitcoiners with the far majority of their net worth in BTC rest on the same big assumption. Likely a very good assumption, but far from guaranteed.

The FIRE movement has a savings problem hiding in plain sight. You can track every dollar, optimize your tax brackets, max out your 401(k) and Roth, and build a beautiful spreadsheet showing you'll hit financial independence at 42. But all that math rests on one big assumption: the dollars you're saving will hold their value, or that index funds will outrun inflation forever. I moderated a panel at Bitcoin 2025 with Jim Crider, Brian Harrington, and Morgen Rochard on this exact tension. Morgen put it bluntly: FIRE influencers spend their lives tracking every penny and don't even own the right money. A 25x savings goal denominated in a currency that loses purchasing power every year is a plan built on sand. We've confused investing with saving — pouring money into VTI and VTSAX because the money itself is broken, not because these are safe havens. Bitcoin fixes the foundation. It lets you actually save instead of constantly investing just to tread water. If you're already disciplined enough to pursue FIRE, adding bitcoin to your plan completes the picture.

@mikewmunz @RonSwanonson Veblen good

An interesting phenomenon with Bitcoin is it becomes more attractive the higher the price it is. At $70,000 it’s still attainable for most people. That’s a low end luxury vehicle. It’s a saved down payment for a house. At $250,000 it’s more exclusive. At $500,000-$1,000,000 it’s now rare and status. I don’t see Bitcoin as a status symbol yet, but it will the same way people thought of others living in a $1 million house or driving a Lamborghini. That’s when the wealthy say I want to own one and then they realize they can’t

In reality, not all of them will be able to own 0.21 Bitcoin. Likely even less… There are too many people who own multiple BTC, who aren’t even millionaires, to allow that

@ZynxBTC Awesome congrats!

I'm pleased to announce that I'll be joining Falconedge as a Strategic Advisor. A Hedge Fund Advisory firm based in London. The firm's parent company Falcon Investment Management has just won an award for the best European Multi-Strategy Fund at the EuroHedge Awards. TradFI really are coming for your Bitcoin. To sum it up, Falconedge are an interesting profitable company that put Bitcoin on the balance sheet. They are able to generate a yield on this Bitcoin through the parent company's aforementioned fund as it has a Bitcoin share class. Perhaps a glimpse into the future of what funds look like on a Bitcoin Standard? I digress. All in all, very different from the traditional Bitcoin Treasury model with a focus on growing the operating business and thus attaining a valuation on an EBITDA basis, rather than purely on mNAV. Tesla, despite being one of the largest corporate holders of Bitcoin, is not valued on a Bitcoin NAV basis but on the strength of its underlying operating business. Ultimately, I believe the Saylor flywheel model is limited to a select few companies and thus a focus on increasing Bitcoin per share in a non-dilutive way is very important for public companies going forward. Finally, I was impressed with the CEO @roykashife who has a very impressive CV I must say. Multiple stints at some of the largest fund managers in the world. Looking forward to seeing what we can build.

@Rajatsoni Here's another one about Tao. x.com/i/status/20363…

SCAM ALERT Don't get distracted by shitcoins He's pretty much saying "I think this shitcoin going to be valuable, but I don't know why"

@ryQuant @BitcoinMagazine @Polymarket @Strategy Polymarket is paying NAKA to run ads

@BitcoinMagazine @Polymarket $NAKA is paying for @Strategy ads. $MSTR marketing expense is largely paid for by others. Digital Rome = @Strategy

JUST IN: There's a 96% chance Michael Saylor's Strategy holds over 800,000 BTC on its balance sheet by end of year, according to Polymarket 👀 They won't stop buying 🚀

@INDIANHODL @stonychambers From what I've read, it's not easy and will cost them. STRK still makes sense to me as a bet on MSTR $1K. That will ensure principal appreciation. STRF still makes sense as the safest pref and will appeal to certain investors. At current prices, I'd rather own STRF than STRC.

@strictlyBTC @stonychambers Ha yeah I kind of wonder if they will try to retire the other preferred instruments. Like you said before, I think if Saylor was starting over today he’d have only MSTR and STRC.

$STRK is now the most undervalued and versatile security in the capital stack In the filing for its new 21-21 plan, Strategy cut the STRK ATM to $2.1 billion and cut the cap on STRK shares outstanding. Basically, the old STRK ATM was moved over to $STRC. Recall that STRK was an attempt to lengthen the duration of convertible bonds. This of course did not work, because the conversion is not at a fixed price but at a fixed ratio of STRK shares to MSTR shares. In Jan 2025, the plan was to make STRK the main funding vehicle, because prior to that the converts were the main funding vehicle. Today the plan is to make STRC the main funding vehicle. In the process, STRK has been heavily discounted by the market. No one talks about it anymore and the perception seems to be that STRC's seniority is really damaging to STRK's valuation. This is just one reason why it is undervalued. The other is that STRK is now comfortably in the high yield + potential price appreciation camp. There's three ways to win with STRK: 1. $MSTR outperforms and brings STRK up by the conversion option 2. The market reprices the credit spread of the fixed rate prefs. This makes the dividend stream worth more. 3. Hold and earn the >10% tax deferred yield. Retain margin of safety. MSTR takes all the risk and the dilution. It takes all the flak when things go wrong. STRC has no price appreciation, has de-peg tail risk, and has imminent risk of future dividend cuts. Also consider that STRC's long term success means the dividend per share is guaranteed to come down. STRK is a very happy middle ground. And right now very underappreciated.

@futpib @hillery_dan STRK is a premium MSTR imo.

@hillery_dan Doesn't it make STRK most desirable? Less ATM, get both dividends and MSTR upside. It's like a premium version of STRF (unless Strategy is near bankruptcy which is not happening).

IMO, STRD should reprice up significantly considering Strategy reduced ATM capacity of STRK down to 2.1B from 21B. The moving liquidation preference on STRK was a real problem for all junior securities. Glad it is getting rolled back, not to mention the problems that arise with convertible arbitraging.