@nonamedlish @pete_rizzo_ ego death VC fund, to finance bitcoin startups.
@Nodollarshit @KristophJeffers @Metaplanet_JP @DylanLeClair_ yes that - it's great. would be nice to have a real-time of it as it's surely accelerated hard now they skipped from 1760 btc feb 5000 btc to apr/may to 15555 btc jul now.
@metaplanet_JP 3350 looking cheap at ¥1552 with 4.28x mNAV. just 5.5 months to cover. they keep piling on BTC until the market realizes mNAV is cheap, below normal range.
@helenvhodl @mir_btc @LuganoPlanB that's odd as @RevolutApp has a buy bitcoin feature for years. in their own app!
@mr94ghost @pete_rizzo_ I was always a permabull🐂 since 2013 first buying anyway. (obviously a mistake to not mine and buy before, but made up for it by getting increasingly bullish after, and then re-denominating savings in BTC ... 1 BTC = 1 BTC changes perspective).
@robin_linus but robin, quantum relevance is here, you must panic change bitcoin immediately! 😃/s
@real_vijay buy bitcoin. even on leverage if you have good collateral. inflation pays you, if you have fiat debt on hard assets (eg real-estate etc.)
@KyleBuysBTC mis-priced and cheap.
@woonomic yes i've been thinking about this also. eg it's a bit hard to pick apart. all the private placements, converts, bonds are generally straight into btc. the btc basis ones just go into cold storage. and they do pull in new fiat traders, bond arbs etc.
@NateGeraci @ricedelman bitcoin not crypto. say it properly, it's spelled BITCOIN!
@kapsync @JoeCarlasare @bodhicitta777 in my case mostly in BTC, was small USD allocation. i get fomo if i have much cash that is not all-in BTC. nowadays i'm even more all in. basically zero cash.
liked and reposted👍. this is the way; just no cap gains on #bitcoin. not the weak sauce "exempt on small limit" lately news.
@BitcoinMagazine bitcoin not crypto.
@anonymo02031848 it may yet come to: buy bitcoin and leave.
@BitcoinRachy at some point just stack harder, they'll figure it out for themselves later.
#bitcoin 200wma passes $49k
never re-balance #bitcoin. HODL
@BTC_Archive @rodrixdigital Bitcoin not crypto
@kapsync @bodhicitta777 @JoeCarlasare generally with an allocation buying the dip and selling the bounce keeping profit in btc. and then when market falls keep buying btc until out of fiat. and then hodl for next bull market is what i did. plus some interest rate arbs and other stuff.
@Adrian_R_Morris still you can only OTC against current OTC sell interest. as the meme from bitcoin morpheus expounds:
@LawrenceLepard perps while they are side contracts, there are very few naked btc shorts, the vast majority of the short perps is from basis traders, who bought spot btc as collateral & hedge. so it's market neutral, if anything brings forward demand by providing leverage.
@DSiegesNJ @BitcoinRachy bitcoin is the hurdle rate. there's not really an alternative. buying part of a bitcoin doesn't undo it's asymmetric upside potential.
@GregP21SAT @WhalePanda well if there's paper bitcoin we gotta sleuth it out, expose the fraud, the new "FTX" paper BTC hiding and flush it out. but i don't know if that's real.
@allenf32 get your money into bitcoin, cold stored while you can?
@brian_armstrong @maxbranzburg Can it send and receive Bitcoin now?
fixed it for you @CNBC
(thanks @eragmus1 via bitcoin core slack)
@TheBTCTherapist @Strategy see CMSTR @liquid_btc tokenized shares. tradeable OTC, trustless, 24x7 on @side_swap each unit is 100 shares. markets been up for > 1 year.
@blockstream CIO @macrocrunch got the first bitcoin into a public pension fund (Santa Clara VTA) in 2021 his recent blog post on topic
$billions of btc buying price stuck in $100-110k "must be paper bitcoin selling" here's another paper debunk. the guys buying big ticket amounts of btc are taking delivery: storing with custodians. i know a lot of retail are leaving on exchange, but hard to hide that much paper.
@Vivek4real_ bitcoin not crypto...
@wildgoosejon @Anders_ @RichardByworth @Liquid_BTC Luxembourg security fund units administered by @stokr_io CH100 coming soon. Not sure about brokers presumably if you ask around some can access Nordic Growth Market shares on request.
like clockwork, #bitcoin's floor price grinding higher🟩
@DylanLeClair_ $MSTR closing in on 600k btc. lols missed 3350 @Metaplanet_JP already at 12,345 btc (last i heard was 11,111 btc). (i own some of both)
@BitcoinMemesIRL @TheBTCViking No hashcash went from idea to implementation posted in 3 days. fast turnaround not years of ruminating.
@WhalePanda hmm but $107-108k is a hair off ATH given BTC volatility norms, we're one demi-god candle (+$5k) from a new ATH. bitcoin has done that multiple times. so not seeing this bearish spin.
@thefairtyna @saylor I nearly kept up! 90:100 ratio talk time vs @saylor. But I can get a bit into the details on my favorite topics, and want to explain observations. Takes some doing as Michael is an eloquent and enthusiastic advocate for all things bitcoin and treasury adoption in companies.
IMO #bitcoin S-curve may enter steeper years now, if we're past gradually phase onto suddenly, new users compounding adoption effects, invalidating "diminishing return" halving theory, upwards to S-curve top like @halfin's jan 2009 $10m/btc estimated $200 tril addressable market.
@BritishHodl note with "bitcoin is the hurdle rate" the degens are trying to trade btc vs treasuries, and TC vs TC swings. in the interests of having a lower cover entry or more BTC. being all in BTC into a bear market and buying cheap mNAV blue chip treasuries could be a strong trade also.
@w_s_bitcoin I bought the dip.
@btc_overflow @ProneDaddy That's for $HOGPF:OTCMKTS but can etrade on access H100:NGM (Nordic Growth Market) direct? Ie call them and ask to enable. Apparently that works with IBKR for some international markets.
@BitcoinPierre doing my part, bought the dip.
@DavidFBailey @nakamoto Convenient, $NAKA can buy the BTFD.
@btcjvs Yes my pet peeve also, people just treat that as $0.
@YouAreMyYield @Strategy @Metaplanet_JP it's an arbitrage to have corporate investors and people who don't or for some reason don't get btc and have not bought it direct to instead buy shares, or put money into preferreds, bonds to enable the shareholders to increase btc/share - it's a kind of capital transformation.
@rektfencer alt bag holding will be rewarded by getting further rekt on the journey to $0. they can always fall another 90%. buy btc or bitcoin treasury stocks. treasury stocks contain bitcoin, so that's a NAV floor. and they have yield due to fund raise mechanisms so you can analyze.
@pete_rizzo_ a lot of bitcoin dip buying corp news today.
@BitcoinMagazine @SenLummis capital gains tax exemption would be better and simpler.
@pete_rizzo_ if armstrong* can not say bitcoin for years, you can similarly not say "crypto". you know it's garbage, do not feed that stuff airtime. *armstrong back on bitcoin train now, it's all bitcoin, bitcoin, bitcoin.
look at bitcoin go.
@dotkrueger well they got the first part: bitcoin is the hurdle rate! so the only way to stand a chance is to be bitcoin denominated. and then use public market tools: bonds, ATMs, convertible notes, private placements, preferred shares to buy more bitcoin on repeat.
@BitcoinMagazine the petrodollar as @gladstein calls it.
this quote i like👍 "tickets to escape the matrix are priced in bitcoin" -@saylor .so many bitcoin / matrix analogs. one of my favorite films also.
@pete_rizzo_ japan🇯🇵 land of the rising bitcoin!
@pete_rizzo_ pete: bitcoin not crypto. please.
@coryklippsten 2 Bitcoin Acquisition Companies?
@oinkbaamoo @klaus_koo @RoarkSen @Sanderandersenn @H100Group @steve_btcfo probably he's norwegian and thinks in NOK. there's a SEK share price column. and a USD BTC price as it's more common to quote in USD.
@BitDecoder @Metaplanet_JP What was their goal again? 21k BTC?
@r8raq @IanSmith_HSA @Raq_PQC @LilicJohn @lopp @Blockstream All we need to do is stay calm. Quantum is over marketed. Sure Bitcoin should IMO add some quantum readiness in the next 5 years but I'm not expecting to be used in a few decades, and probably to be upgraded again to something more efficient later. But it's useful to be ready.
@dannyfonse @saylor @AlexandreLaizet @YChoueifaty buying more bitcoin.
@Micro2Macr0 @Metaplanet_JP fundamentals it's cheap. plus they just bought 1111 btc... bitcoin buying at @Metaplanet_JP seems to be accelerating.
@bradmillscan @DavidFBailey @BranBTC @nakamoto Not sure. But note $NAKA was an RTO, of medical company $KDLY but they still need regulator approval
@Vivek4real_ note technically @BlackRock clients own the ETF wrapped BTC. still very impressive uptake of simpler way to buy bitcoin for some groups of people
TSRY SZN is the new ALT SZN for speculators.
time to dump ALTs into BTC or BTC treasuries.
@aganstwallst @saylor more someone is just happy to buy cheap bitcoin. BTFD continues...
"Trump told me he owns a significant amount of bitcoin.. not going to disclose the number.. he had a significant position even at that time, and price has gone up a lot since.. it's about alignment what's good for bitcoin is good for all of us" -@DavidFBailey @saylor's $100k NYE
@BitPulse_X @anilsaidso @weidai11 @weidai @gwern satoshi dropped bitcoin fully formed onto the world, then left, burned pseudonym seemingly, after a couple of years (2.5 years? aug 2008 - last email to a dev april 2011 last forum post dec 2010). developers fixed lots of bugs and made optimizations and opt-in op-codes since.
@woonomic @therationalroot the funding rate is paid from short to basis trader. basis traders collecting dollar yield, delta neutral to btc, but buying physical btc to hedge. is your claim that the funding rate cost is the paper bitcoin?
@AlamoHODL @coryklippsten @RichardByworth @Sanderandersenn @H100Group bitcoin standard is good i think @coryklippsten . it's he end game, and these companies are living that today: using revenue, profits, bonds, to increase btc/share.
@fiatarchive bitcoin not crypto.
@coryklippsten @RichardByworth Maybe it's like @sanderandersenn (CEO @H100Group) says it: they are bitcoin standard companies (companies operating on the bitcoin standard).
@sphynxbtc @fiatarchive @fiatarchive "NEW: 💥 $15 billion payments giant ‘Klarna’ says it will accept Bitcoin" <- fixed it for you. why give air time to 💩 and scaps. why.
@fartface2000 @coryklippsten they are like a new form of bitcoin derivative. it's quite interesting as if you buy one a bit too high on the range of mNAVs, they keep stacking bitcoin and after a while it gets there by itself (by increasin gbtc/share)
@pete_rizzo_ @RicardoBSalinas FOMOing towards all-in levels "we've increased our bitcoin holdings considerably, just in this past week ... I just know what's going to happen down the road, and I don't want to miss out on that"
@dotkrueger eh block one took the BTC from EOS ICO "investors" leaving them with tokens on an unmainted chain. surely they're not including the BTC in Bullish.
@Pledditor A treasury company is valued based on its Bitcoin holdings (multiple of bitcoin NAV) and it's rate of accumulation of Bitcoin, eg by the months to cover metric. Shitcoins are scams. There is no relation.
@DzambhalaHODL @RealJimChanos @BitcoinPierre @BitcoinPierre has been winning the twitter argument roundly, if you ask me. clearly by simple logic anyone can reproduce, treasury companies have a (positive) fair market premium. the open question the market prices is how high should it be. hence things like months to cover.
@nvk what can make a difference is bitcoin. if something is not going well in the world. BUY MORE BITCOIN. (and tell others likewise). it's more effective than discusion on social media, voting, political lobbying etc.
@BTC_WorldMap @bariksis @80IQGenius explained here, i knew and trusted someone on the management of @Metaplanet_JP, @ALT_BG and @H100. and also early in @strategy
@SatoshiLite @Excellion @magicalcrypto @WhalePanda @fluffypony ofc I was in the middle of those discussions along with @halfin and a few others. they continued for a decade and incremental new insights & results over time. until Satoshi found a solution to the inflation problem: hyperinflate with moore's law. most recent pre-BTC @halfin RPOW
@steve_btcfo it ensures they can put BTC on balance sheet faster is my impression, with SEK wires they have to get it to an exchange and buy, which all takes time. plus most of the H100 tranches like ALTBG are BTC basis converts, the debt is BTC itself. (couple of the H100 converts were SEK)
imagine me, permanently bemused why bitcoin isn't already $1mil/coin, and people are not getting it! #bitcoin #permabulls🐂
@RealJimChanos the point, obviously, is to buy #bitcoin.
@fiatarchive do it @RicardoBSalinas👍 all-in #bitcoin HODL :)
swap the 20% gold allocation for yet more digital-gold!
@TheBTCTherapist the simple answer is @strategy just keeps buying more BTC until @RealJimChanos gets short-squeezed. example: recall @metaplanet sell-off down to ¥380 in feb when 3350 had 1760 btc. doubled my position.
@TheBTCTherapist @Strategy @RealJimChanos @MetaPlanet lots of 3350 shorting, but TYO exchange has limit-up, days in a row so they can't buy to cover. this IMO is the slow-motion fate of Chanos trade: $MSTR yield is lower, but same effect: BTC buying lowers mNAV, relative value traders reprice to fair value mNAV, shorts get squeezed
@sphynxbtc @alistairmilne @alistairmine @bitfinex I think @bitfinex changed the price resolution since Bitcoin crossed $100k. This was from a few years ago 2020. Also price resolution depends on the exchange.
@BYOBB5 @TheBTCTherapist @Strategy @RealJimChanos @MetaPlanet bitcon arbs and relative value traders happy to take his money...
@DzambhalaHODL people have heard of CDO-squared, but @UTXOmgmt, part of the $KDLY RTO along with @bitccoinmagazine, is BTC treausry-squared.
interested to find out.
(invested in $NAKA pipe).
@Bitcoin_Bull_21 @BitcoinPierre @RealJimChanos he'd probably be well to close it now, so maybe the recent vocal talk is to try hold price and mNAV down while he exits his short $MSTR long BTC. (by buying $MSTR and selling BTC proportionally)
@pete_rizzo_ it's good to see @brian_armstrong back on the #bitcoin train.
3350 @Metaplanet_JP ¥40 from hitting limit-up level ¥1809 (and an ATH). reminder you can trade with no limit-up, limit-down 24x7 globally priced in BTC on @side_swap $CMTPL luxembourg securitzation vehicle by @stokr_io 100 shares per fund unit.
@woonomic Everyone needs to move to a Bitcoin standard, Bitcoin treasury, price shares in BTC, track BTC/share. Not optional, mid-term as the physics of the internet of money kicks in.
@american_roci @Sanderandersenn @Liquid_BTC @side_swap @_ALTBG @MetaPlanet trading strategy companies vs BTC is something I find convenient as they are highly bitcoin correlated, but with leverage and volatility relating to mNAV, yield, months to cover, pace, news-flow etc.
@american_roci @Sanderandersenn @Liquid_BTC @side_swap simplifying market access can be important because you see people on twitter finding it hard to get access to NGM (Nordic Growth Market) or EPA (Euronext Paris exchange with @_altbg) or TYO (tokyo exchange) with @metaplanet. there is a tokenized share for $MSTR CMSTR on sideswap
@MetaStratBTC @Metaplanet_JP @side_swap @stokr_io friday close was ¥1509+¥300 limit = ¥1809 i think.
@vtoshi1971 @alistairmilne limit buy 21 mil BTC at $0.02🟩 on @bitfinex
@Vivek4real_ ICO promoters were always pro-BTC, they want to take *your* BTC and give you worthless tokens.
@Arthur_van_Pelt @woonomic @voidcompiler @saylor @alistairmilne @bitfinex At the time there were 18.6m BTC mined also. You might get more filled via market makers also if they have credit lines and the price is not a local exchange anomaly.
@SaniExp @saylor @alistairmilne @bitfinex Well I got FOMO after a while, cancelled and used the liquidity to buy BTC. But it was a real live order for a while during 2020.
@thomas_fahrer #bitcoin holding well despite geopolitical situation this week
if you ignore the biggest arb of the century, the capital reallocation will leave you behind. it's not really a choice. #bitcoin
@saylor $1million Bitcoin it is then, as it's not going to zero as I have a limit order at 2c/BTC for 21m BTC. Outbid @alistairmilne's 1c with 2c/BTC 21mil BTC live order on @bitfinex.
@alistairmilne @alistairmine for 18.6mil BTC at 1c eh?
I bid for 21mil BTC at 2c.
(These are live limit orders in @bitfinex order book.)
@BitcoinNews21M HODL
@TheBTCTherapist @Strategy @RealJimChanos @MetaPlanet now @metaplanet have 8888 btc, and mNAV was very low, low due to all the btc buying, months to cover fell to 5, so i bought 150% more at ¥400 in may (better price than ¥380 at 5x mNAV), relative value mispricing. and now it's ¥1500 as the market noticed the mispricing also.
@sphynxbtc Alas the bid is no more. @alistairmilne maybe still in the @bitfinex order book with 1c though.
@pete_rizzo_ bitcoin not crypto.
bitcoin is the hodlrate!
@alistairmilne @alistairmilne started the bid at 1c for 18.6m btc (what was mined at the time), i upped it to 2c for 21m on @bitfinex live order.
@sphynxbtc @alistairmilne @bitfinex You could put a bid for 21,000 coins at 3c that uses way less money. And is an unthinkable amount of money in BTC terms.
@BitcoinPierre also why short now, when mNAV is already low, if @RealJimChanos was gonna short this would have been the time (24th Nov 2024 at 3.89x mNAV), now would be a time to close the short! before the buying pressure forces him to close or get short-squeezed.
@BitcoinPierre @RealJimChanos and they have to sell movie tickets. if #bitcoin continues to go up, a treasury company using capital market raises is participating in the arbitrage of the century: the massive dislocation from fiat current to hyperbitcoinized future. they do that all day, every day on repeat.
@dgt10011 not only ALT-SZN cancelled, ALT-capitulation is here, the insider self-dumping to buy #bitcoin to have a slush fund for themselves.
@MikeFor44857211 @BitcoinPierre Chanos is not a Bitcoin believer but he is short MSTR and long BTC to hedge. But he's still gonna get short squeezed if he stays in the trade too long so $MSTR's relentless buying down mNAV, as well as Chanos short, and then relative value traders bid up the price and mNAV.
@HODL_MFER @DzambhalaHODL @_ALTBG @H100Group @Metaplanet_JP @AlexandreLaizet @Sanderandersenn @bataraeto don't buy them if you don't like treasury companies. buy bitcoin! i'm a value investor so i want to have confidence. i didn't know @saylor at the time, but wanted to support his pioneering drive for bitcoin as corp treasury asset, leading by example & with his annual conference.
@pete_rizzo_ Good, but bitcoin not crypto guys.
@UnblockingPod you just need to put bitcoin on the balance sheet, use profits and corporate finance structures to buy more. this is the way all companies will manage their capital structure post hyberbitcoinization.
@Btc_GodCandle think of $MSTY as a USD yield product, it dividends out option strategy wins, and absorbs losses from the UST collateral it holds so it will shrink over time, unless you drip some of the interest back to top up the USD value. agree, if you want $MSTR potential upside, buy $MSTR.
@fykkouc @saylor @MButtlor @Strategy and the ATMs which they've done a lot of reduce debt ratio, plus now they have $STRK, $STRF and $STRD which can be sold in probably a wider range of market conditions to buy more BTC, pay interest, buy back shares if mNAV < 1 etc (to increase BTC/share)
@fykkouc @saylor @MButtlor nah. they are not mark to market like leveraged exchange position. plus #bitcoin 200wma is $48k now, in early stage bull market. IMO we'll be well past $50k before we get into a bear. also @strategy's converts most of them have soft-callability, where they become equity
@37BTCMSTR @ALTBGwatch sure. just ask broker i think some people got to it by calling IBKR or fidelity, maybe others - and ask to enable international markets option.
well that's new, name dropped in bitcoin rap :)
@LudoCL1 @orangeskid67 @RoaringRagnar @AlexandreLaizet this is the beauty of BTC basis convertible notes: no fiat debt. only unliquidatable BTC debt, matched with BTC collateral.
@LukeDavisgrey @stokr_io @Metaplanet_JP @DylanLeClair_ @side_swap and you can see the index price here (for CMSTR similar for CMTPL) which is from US market open hours and interpolated based on BTC price movements relative to that when market is closed.
@BitcoinMagazine FCA decided to stop "protecting" investors from bitcoin upside. heh.
place limit orders on @liquid_btc bitcoin layer2. trade in @side_swap wallet or take order via web and scan order QR. @side_swap even has support for @BlockstreamJade HWW limit orders, safe way to trade!
@NikotheGreek @Liquid_BTC @side_swap @BlockstreamJade @stokr_io video on using @side_swap to trade CMSTR (the microstrategy token)
@Vivek4real_ even before wall st is 10% IMO. even with @blackrock's 2% allocation to diversified portfolios somewhat rolled-out at some of the larger asset managers, that'd push $1mil/btc I'd say.
@softsimon_ @BitcoinMagazine If you can👍 if not then as many days as you can.
@PelotasN2Boca @LibertyStier @RichardByworth @swissBTCmaxi @Metaplanet_JP i didnt find it implausible as they'd recently got that ¥777m moving strike resumption approval :)
@stokr_io 👀 @Metaplanet_JP @DylanLeClair_ CMTPL market started 4,100 shares sold (41 CMTPL units @ 100 3350 (metaplanet) shares/unit). the only 24x7 market in metaplanet, no TYO 🇯🇵 market limit-up/limit-down. and priced in BTC with pair CMTPL:BTC on @side_swap trustless market.
@MichaelOnBTC NaN
@greg16676935420 forget politics and drama. team #bitcoin.
#bitcoin 200wma passes $48k.
@theironsh3ph3rd @WeCryptoRich @notgrubles @brian_armstrong it's a theory, about a #bitcoin logo choice, being an easter egg pointing to space quest IV buckazoids. ignore meme coins, they're dumb.
@TeddyBitcoins @GoingParabolic @elonmusk I'm sure he has a huge multiple, but Bitcoin allocation is way too low % of his net worth
@Croesus_BTC @TheBitcoinConf @UTXOmgmt @BitwiseInvest SGTM BTC market cap to $300T range? M2 inflation since @halfin's jan 2009 $200T estimate of monetary premium that bitcoin may eventually demonetize. the ratio of BTC bought by treasury companies vs asset management, individuals direct, sovereigns will be an interesting arms race
@pete_rizzo_ Continuing BTC/share buying adds pressure to Jim Chanos long BTC/short $MSTR position, which builds over time. and now he's getting counter-traded by SNB 🇨🇭, one of the top hedge funds in effect. 🍿
@hodlmybeeer @Protos Seems hard, partly due to size of treasury - there are only so many BTC. But it may weather bear markets with less mNAV compression due to index inclusion, and more raising options: bonds, ATMs, converts and 3 perpetual types: $STRK, $STRF, $STRD some may work in a bear market
@FiatIsEvil @pete_rizzo_ i did wonder about it, but primaries (raises via bond, ATM, convert, moving strikes etc) invest ~100% into BTC. secondary buying in the market, it would have to be an imbalance between BTC funded buying and selling (offset by USD basis selling). also not that big i think.
@wengevar @caladanxyz @nakamoto @DavidFBailey *3350 Metaplanet now has 8888 BTC they have had a busy few weeks since 5000 BTC was hit.
good thread explaining Months to mNAV Cover relative to mNAV (multiple of market cap vs btc treasury NAV), and yield (rate of increase in BTC/share).
@WildSoulbtc #bitcoin quantum readiness so we don't see bitcoin price wobbles caused by information asymmetry confusion from breathless over-reporting of incremental improvements of early stage quantum compute physics and algorithms - on a probable multi-decade path to cryptographic relevance
@AskPerplexity @answrguy @grok @Om____Nom @florentbtc @Bthemoon2030 @Bessentiel @_ALTBG also "already factored into key metrics like earnings per share and company valuation" EPS is not a useful metric for treasury companies, rather bitcoin per share. and company valuation is not factored in - the market cap changes when the dilution happens. wrong again.
@BitcoinPowerLaw @allblacktattoos My thinking on this topic in this thread
@DylanLeClair_ @fejau_inc repeatable speed of raise mechanism, driving high yield, justifying high mNAV makes ATM fine. people fret about ATM sell pressure, but it maybe more an established high mNAV norm, so the market reprices upwards to cancel out mNAV compression from ATM funded BTC numerator.
Hyperbitcoinization intensifies.
@bro_abra @Bthemoon2030 @EneaDenkt @AlexandreLaizet @_ALTBG they are not using btc basis converts. it allows @_ALTBG to create super-high leverage, without repayment risk.
@pete_rizzo_ weak-hand sellers, why give people low entry points? do you not like btc nor money?
@Protos Starting with a small # of BTC can at start book a high "yield" (size bias), yet once rolling counting from a later quarter remain high due to pace, method eg $ALTBG fast execution of converts & private placements, and BTC basis converts enable non liquidation high "debt" ratio.
@AlvaApp @BTC_Archive How is Bitcoin overbought it looks mispriced and cheap, given the fundamentals (ETF and strategy company net buying being 4-6x coins mined daily since halving, improved regardless, sovereigns and some US states buying or gearing up.)
@BitcoinPowerLaw @allblacktattoos In terms of yield, mMAV and debt ratios as clearly back then, but some time later I went back and calculated the BTC to debt ratio, and saw that for 5 months in the bear market the debt was larger than BTC NAV value, so presumably calculating that in terms of mNAV
@saylor @AlexandreLaizet @_ALTBG $ALTBG innovative type of convertible note also: BTC basis. capture the conversion premium, or your money back in BTC at maturity. option for investment in kind (using BTC), avoids capital gains on the way in. and for french taxpayers, no capital gains on sale if held for 5 years
@Vivek4real_ The addressable market for Bitcoin, pulling monetary premium out of other assets: real estate, bonds, stock market etc.
@AlexandreRK79 @chamath not really, it's decades away. NIST is working on standards, bitcoin can adopt or customize a "PQ ready" signature scheme, and then people will have a decade or two to migrate. only reason to "highlight issues" and "remain a topic of concern" is for FUD to pick up cheap bitcoin.
@WhalePanda It is surprising how cheap BTC is in the circumstances. Claim is on chain metrics indicate mid-term holders who bought in $60k range selling. But you'd think they would run out of coins to sell, given the amount of months above $75k.
@saylor @strategy steadily accumulating BTC /share, and total bitcoin towards 600k BTC.
@nakadai_mon Well the effect of putting BTC on the balance sheet.
@DavidFBailey some french investors saying that is a limit-up on @_ALTBG, flat-line part at €3.50/share today. if so, that's a TIL Euronext Paris 🇫🇷 also has limit up like TYO Japan🇯🇵. #bitcoin breaking market limits :)
@RichardByworth @RoaringRagnar @_ALTBG is interesting, particularly the BTC basis convertible, can be argued to be more scalable as the debt ratio is effectively nil - they can give the BTC back, if it were to fail to reach conversion premium during 5 years, so they could safely carry high leverage, where as
@jesuislinfo @bro_abra @RichardByworth @RoaringRagnar @_ALTBG So you could have a pea for 4 years, with €10k invested then buy €150k of @_ALTBG and convert that into #bitcoin in a year without cap gains tax? Or does proceeds have to stay inside the PEA to qualify to avoid cap gains? Can you own Bitcoin ETFs in a PEA in France🇫🇷?
@mc_khristina @LibertyStier it's trading: open ¥933, circuit-breaker at ¥1083? (where it halted last thurs). $MTPLF was up to ¥2100 last week. i think yield could justify up to ¥3500 given how much more BTC they have since feb (1760 btc feb, 7800 btc now and much higher yield)
@lowstrife if mNAV < 1.0 they can sell BTC and buy back $MSTR and increase BTC/share that way, which is in share-holder interests. or people see that coming and don't let it go there. either way this is fine. $STRK doesn't need a premium to operate.
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