MSTRbull

People call STRC “risky” because the ticker moves on a screen. They call their paycheck “safe” because the suffering is familiar. But what is actually riskier? Owning a senior claim in a Bitcoin treasury capital structure engineered to absorb global liquidity, or staking your entire life on: shrinking real wages, political money printing, corporate margin compression, random layoffs, commutes, middle management chaos, and the hope your back and blood pressure hold together long enough to retire at 67? Most people are not avoiding risk. They are drowning in it every day and calling it normal. STRC is a yield instrument. Your job is a levered short on your time. 11.5% outruns fiat debasement and beats the system for permission to survive.

Bitcoin price recently crossed Strategy’s average acquisition cost of $75,527. There’s little noise or doomsday commentary like there was on the way down. That's because the metric ultimately doesn't matter. What matters is whether each acquisition was accretive to bitcoin per share. Almost all were.

If executed properly, there will be more buyers than sellers for STRC into perpetuity.

🔥STRATEGY'S CREDITWORTHINESS INCREASING AT WARP SPEED🔥 Nobody is pricing in what just happened to Strategy's balance sheet. $78.19B enterprise value. $8.25B of convertible debt. $13.54B of preferred equity. Pref is now 1.64× the debt stack. Debt is 10.6% of EV and shrinking every week it stays flat while BTC compounds. The debt as % of EV shrank ~43 basis points in one week. This week: $2.54B raised. 85.6% of it came from STRC. Zero from converts. Every new sat added to the stack is financed with perpetual fixed-income paper that can't force a liquidation and doesn't convert into overhang. The creditworthiness asymmetry here is absurd. Converts roll off, prefs roll in, BTC Treasury compounds behind a progressively thicker equity cushion. Credit analysts are still modeling the Strategy of 2022. That company is gone. 815,061 BTC. 10.6% debt-to-EV. The math is getting embarrassing.

@Tripple____M 1

0-10, how confident are you Mikel Arteta will win us the League from here?

“Israel never talked me into the war with Iran, the results of Oct. 7th, added to my lifelong opinion that IRAN CAN NEVER HAVE A NUCLEAR WEAPON, did… the results in Iran will be amazing - And if Iran’s new leaders (Regime Change!) are smart, Iran can have a great and prosperous future!” - President Donald J. Trump 🇺🇸

One platform. Two yield engines. USDh now earns from a second source: @Strategy’s STRC.

🔥STRATEGY BUYS 34,164 BITCOIN FOR $2.5 BILLION🔥 34,164 potential future wholecoiners EVISCERATED in ONE WEEK. Breakdown of the buy: BTC purchased: 34,164 Total purchase size: about $2.54 billion Average purchase price: about $74,395 per BTC New total holdings: 815,061 BTC Total cost basis: about $61.56 billion Average cost basis on all holdings: about $75,527 per BTC BTC Yield YTD 2026: 9.5% How they funded it: STRC sold: 21,795,389 shares STRC gross proceeds: about $2.1795 billion STRC net proceeds: about $2.1763 billion MSTR common sold: 2,165,000 shares MSTR net proceeds: about $366.0 million Total net proceeds raised: about $2.5423 billion They are now over 815k BTC, which is an absolutely monstrous balance sheet. They used a mix of preferred capital + common equity issuance to keep feeding the Bitcoin engine. A 9.5% BTC Yield YTD tells the market this machine is still increasing Bitcoin exposure per share at scale. THIS IS GETTING INSANE.

In one week, @Strategy increased BTC Gain by 82% to $4.97 billion for the year. This reflects the reflexive power of combining appreciating bitcoin (digital capital) with accretive financing (digital credit).

Strategy has acquired 34,164 BTC for ~$2.54 billion at ~$74,395 per bitcoin and has achieved BTC Yield of 9.5% YTD 2026. As of 4/19/2026, we hodl 815,061 $BTC acquired for ~$61.56 billion at ~$75,527 per bitcoin. $MSTR $STRC strategy.com/press/strategy…

Strategy has acquired 34,164 BTC for ~$2.54 billion at ~$74,395 per bitcoin and has achieved BTC Yield of 9.5% YTD 2026. As of 4/19/2026, we hodl 815,061 $BTC acquired for ~$61.56 billion at ~$75,527 per bitcoin. $MSTR $STRC strategy.com/press/strategy…

@hillery_dan @phongle If you don't have leverage, it's fine (I got the tax deferred treatment last year without leverage). With leverage it's a different ballgame, in the broker statements you get part as tax deferred, and part as "Substitute Payments" which are taxable as Other Income

@ticos1962 @phongle interesting, I was able to give the ROC dividend classification sheets on Strategy's website which are published monthly to the broker and it helped my situation.

STRC bi-monthly dividend & Institutional Signal - The market wants a high yield money market, something different than any equity or fixed income instrument that exists today. - This only works because Bitcoin is a closed system. - @phongle: “We think one of the big opportunities of STRC is to borrow against it” - So long as STRC's market cap continues to grow, i.e. more buyers than sellers, there will exist an overnight arbitrage on the ex dividend date greater than the 11.5% annualized return of STRC. - This video scratches the surface of how STRC will price and what the liquidity will look like in a rising Bitcoin and STRC market cap environment.

@hillery_dan @phongle I tried, believe me. It turns out that brokers have this written in their margin agreements and the IRS treats the dividend payments as "other income", which is the worse from a tax perspective. It ruins the carry trade for sure.

@ticos1962 @phongle Super interesting, I did not know that. Maybe brokerage rules will need to be lobbied by Strategy.

"...We’re offering a very fair and reasonable DEAL, and I hope they take it because, if they don’t, the United States is going to knock out every single Power Plant, and every single Bridge, in Iran. NO MORE MR. NICE GUY..." - President Donald J. Trump

Think Even ₿igger.