It was legit!! Great option to have on stock at all times!
Just ordered! Pumped to try it!
Bought the top in 2021 and I’ll ride to 0. But this sucks. Feels like the blow off tops are done.
Everyone can zap 1 sat
Obviously bitcoin is why we are all here, but I’m now convinced 99% of the people aren’t going to ever understand it due to the complete lack of acknowledgement of Gold doubling in 2 years. I can at least understand why some people don’t trust bitcoin, but most are clueless about what gold is doing right now.
nostr:nprofile1qqsp4lsvwn3aw7zwh2f6tcl6249xa6cpj2x3yuu6azaysvncdqywxmgpr9mhxue69uhhqatjv9mxjerp9ehx7um5wghxcctwvsq3samnwvaz7tmjv4kxz7fwwdhx7un59eek7cmfv9kqy5kh8e is right. Bitcoin is going to monetize and bitcoiners are going to be the ruling class. But the only way is thru and it’s gonna suck at times.
First in foremost, stack sats. That’s a given. Also, none of this is financial advise. Just my thoughts that I can put on a decentralized protocol.
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I keep going back to this BTCTC thing. I don’t know what happens to all the smaller ones, I’m strictly focusing on MSTR.
The stock market is always forward looking and the only way MSTR is overvalued/valued accurately is if Bitcoin doesn’t do what we all think it’s gonna do OR they don’t actually hold the Bitcoin.
If Bitcoin succeeds and they actually have it, this gives them so much optionality in the future and they will certainly have the biggest treasury out of any company, including Berkshire Hathaway.
I know Berkshire has their mitts in a lot of different companies AND has a large treasury but Strategy will have the option to do this once Bitcoin monetizes.
(These following numbers are from Grok so I’m sorry if they are inaccurate)
Berkshires current mNAV to their treasury is 3.11 which is currently at historic lows.
Between 2001-2008 it’s mNAV was between 3-5x.
And from 2016-2024 it ranged between 10-22x.
Strategy’s mNAV is under 1.5x right now. IMO, one of these companies, if not both, are mispriced.
Black is a Bitcoin company now
A couple of thoughts on the bitcoin credit market (MSTR):
1. The preferreds are holding up as they should in a downturn.
2. If Saylor is looking to get credit ratings for the preferreds, is this actually good signal to the credit rating agencies?
3. Saylor has mentioned closing out the convertible bonds. Is there a benefit to Saylor, Strategy, Common stock holders, and/or preferreds if they close out the convertible bonds closer to 1x mNAV?
About to chat with AI about this, but please repost this if you see it. Would love to get some thoughts from people on this.
nostr:nprofile1qqsp4lsvwn3aw7zwh2f6tcl6249xa6cpj2x3yuu6azaysvncdqywxmgpp4mhxue69uhkummn9ekx7mqpzfmhxue69uhk7enxvd5xz6tw9ec82csddzc47 nostr:nprofile1qqsvfr3f7p95stxqrjslnmuvsmhcxxxqt8swjdfjx5tz7zq0yms5cygpramhxue69uhhyetvv9ujumn0v3jhyatwdejhyuewdejhgam0wf4sz9rhwden5te0wfjkccte9ejxzmt4wvhxjmcmg26u9 nostr:nprofile1qqsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncpz4mhxue69uhkummnw3ezumtpd35kutn0dekqz9thwden5te0wfjkccte9e4kzmts9eekjar9y08qv9 nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy
I know I’m basically talking to myself here but just in case anyone is following along.
Below is Groks answer to thought #3 in the quoted post.
“Yeah. If MNAV's near one, the stock's basically BTC at cost-no hype tax. So Saylor closes convertibles cheaper: he calls 'em when holders convert willingly, dodging dilution pain. High MNAV means everyone's fighting for shares; conversions flood the market, tank price. Low-ish MNAV lets him refinance smooth, pull in those preferreds without chaos. Institutions love that stability-credit ratings come easier too.”
And this is its answer to why closing converts is good for the preferreds:
“Closing the converts means no future dilution for anyone-so the preferreds stay fat, yields look safer, price pops. Right now, bondholders could convert and swamp the float, crushing MNAV, forcing Saylor to pay out dividends or buy back preferreds at a premium. Clean slate lets him pitch those eight percent perpetuals to insurers without saying oh by the way, more shares might show up tomorrow. It’s like killing a leak before it floods the room-preferred holders sleep better, ratings agencies smile.”
A couple of thoughts on the bitcoin credit market (MSTR):
1. The preferreds are holding up as they should in a downturn.
2. If Saylor is looking to get credit ratings for the preferreds, is this actually good signal to the credit rating agencies?
3. Saylor has mentioned closing out the convertible bonds. Is there a benefit to Saylor, Strategy, Common stock holders, and/or preferreds if they close out the convertible bonds closer to 1x mNAV?
About to chat with AI about this, but please repost this if you see it. Would love to get some thoughts from people on this.
nostr:nprofile1qqsp4lsvwn3aw7zwh2f6tcl6249xa6cpj2x3yuu6azaysvncdqywxmgpp4mhxue69uhkummn9ekx7mqpzfmhxue69uhk7enxvd5xz6tw9ec82csddzc47 nostr:nprofile1qqsvfr3f7p95stxqrjslnmuvsmhcxxxqt8swjdfjx5tz7zq0yms5cygpramhxue69uhhyetvv9ujumn0v3jhyatwdejhyuewdejhgam0wf4sz9rhwden5te0wfjkccte9ejxzmt4wvhxjmcmg26u9 nostr:nprofile1qqsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncpz4mhxue69uhkummnw3ezumtpd35kutn0dekqz9thwden5te0wfjkccte9e4kzmts9eekjar9y08qv9 nostr:npub1guh5grefa7vkay4ps6udxg8lrqxg2kgr3qh9n4gduxut64nfxq0q9y6hjy
Okay, I think it’s happening soon.
Just got a text from a friend that told me his friend that DOES a lot of Bitcoin has sold all of his coins and will be buying back lower.
Was at a large winery dinner last night and I opened bitchat. 0 users.
Early….
Price today feels like David Bailey is buying Ethereum so he can buy wrapped btc 😂😂😂
118!
Yo! Bitchat is a game changer. It’s not about communicating in a crisis. This mesh network is easily scalable.
I can see a future where you can pay via cashu over bitchat everywhere.
Just like using cash back in the day.
Excited to see how this develops over the coming years.
nostr:nprofile1qqsgydql3q4ka27d9wnlrmus4tvkrnc8ftc4h8h5fgyln54gl0a7dgspxdmhxue69uhkuamr9ec8y6tdv9kzumn9wshkz7tkdfkx26tvd4urqctvxa4ryur3wsergut9vsch5dmp8pesz9nhwden5te0wfjkccte9ehx7uewwdhkx6tpdswfvru5 nostr:npub12rv5lskctqxxs2c8rf2zlzc7xx3qpvzs3w4etgemauy9thegr43sf485vg
Ahh tap on the username within the group chat not in the side panel menu and not in the private chat.
Strange. I’m on iOS and when I tap a username it just shows security verification. But I can do it with /hug or /slap if anyone else is having troubles