Christopher Walker

Busn expansion consultant,Investor,Educator,Frmr WallSt.SrVP, @Columbia MS, @UCLA BA."I don't know what I don't know"My critical thoughts-not financial advice.

[Elon Musk @elonmusk]

Indeed 😂

[Polymarket @Polymarket]

JUST IN: Tesla Robotaxi has recorded zero at-fault incidents since February, according to newly released NHTSA data.

[BitcoinTreasuries.NET @BTCtreasuries]

JUST IN: Strategy $MSTR CEO Phong Le just said "Buying Bitcoin is easier than selling."

Strategy will be buying the dip. 🔥🔥

[Christopher Walker @1Cobalt]

$MSTR

[Adam Livingston @AdamBLiv]

MSTR to $3,800 per share.

Assumptions:

$1B/month preferred issuance only
11.5% preferred cost
30% BTC CAGR
1.32x CEBE mNAV, no expansion EVER
common stock sold to pay dividends
zero common stock sold to buy Bitcoin (LOL)

Start:

843,738 BTC
573,757 common equity BTC
163,144 CEBE sats/share
$158.97 implied price

Year 10:

1,424,686 BTC
1,287,186 common equity BTC
285,605 CEBE sats/share
$3,836.60 implied price

That is 24.1x in the model.

The insane part?

Preferred balance goes from $15.5B to $135.5B, yet senior claims fall from 270K BTC to 137.5K BTC.
Why?

Because fixed fiat claims get vaporized when measured against a compounding Bitcoin treasury.

This is Ownership Acceleration.

CEBE sats/share rise 75%.

Common equity BTC rises by 713K BTC.

Bears see “debt” and “dilution.”

The model sees fiat claims being dragged behind the Bitcoin monster truck at 3 AM while Saylor is doing laps around the sovereign bond market.

Even the bearish assumptions make me a very rich man.

CEBE is the scoreboard.

Bullish Strategy.

[Christopher Walker @1Cobalt]

$TSLA

[Spencer Pratt @spencerpratt]

When I was in my 20’s I was on a TV show. When Karen Bass was in her 20’s, she was training in terrorist tactics and guerrilla warfare with communists in Cuba. Back when the LA Times was still in LA, and used to tell the truth…

[Christopher Walker @1Cobalt]

$MSTR now owns over 4% of all the #BTC that will EVER exist (really more since much has been forever lost). Shareholders now own 12.6% more BTC than they did in Jan 1st, on top of the 22% BTC they earned last year. Rising BTC ownership on a rising BTC long term price- that is the benefit of owning MSTR shares over BTC. MSTR on sale today at $165/share…. $GDC 7,500 BTC super sale at 14 cents!

[Michael Saylor @saylor]

Strategy has acquired 24,869 BTC for ~$2.01 billion at ~$80,985 per bitcoin and has achieved BTC Yield of 12.6% YTD 2026. As of 5/17/2026, we hodl 843,738 $BTC acquired for ~$63.87 billion at ~$75,700 per bitcoin. $MSTR $STRC https://t.co/y1zvePEuym

[Christopher Walker @1Cobalt]

$GDC , selling for 13 cents/share, marked down from $8/share in 2 days by BURIED #NakedShorts. GDC owns 7,500 fully audited $BTC now selling for pennies on the dollar. Look at GDC’s ridiculous daily volume and illegal wash trades compared to real their outstanding shares. #SEC #DOJ time to take blinders off

[Dan Held @danheld]

How normies feel about Bitcoin 😂

[Christopher Walker @1Cobalt]

Not a #BTC company out there with a larger discount to MNAV than $GDC with 7,500 audited $BTC , trading at .14/share. 100’s of millions of shares #NakedShort

[Dan Hillery @hillery_dan]

One of the few undervalued companies in Bitcoin.

[Trending Bitcoin @TrendingBitcoin]

It takes 40 years to mine the last Bitcoin. This means if you are a whole coiner your children or grandchildren will inherit the equivalent of 40 years’ worth of energy used to secure the Bitcoin network. NO ONE is prepared for this.

[Christopher Walker @1Cobalt]

So $GS was only fined $.0002 (that’s two one-hundredths of a cent- for those watching at home) for each “mislabeled” short share sold. Great business model. Do you think that stopped them from doing it again? $GDC #NakedShorts

[G @Hamnakedshorts]

$GS. Your
Top wall st firm. Stealing. Paying pennies

Hey Sec can we all do the same

https://t.co/1bQOOoH9Dg

[Christopher Walker @1Cobalt]

$MSTR $STRC #BTC

[Adam Livingston @AdamBLiv]

Michael Saylor is TAKING OVER the WORLD right now and everyone is ASLEEP.

$STRC just did almost HALF A BILLION DOLLARS of trading volume in one day.

If Strategy captured 80% of that volume like they did last month, that is $397.28M of capital.

At $80,000 per Bitcoin, that is 4,966 BTC potentially added to the balance sheet in ONE trading day.

To understand how insane this is:

Hundreds of S&P 500 companies do not make $397M in profit in an entire quarter.

They need 90 days of sales, payroll, inventory, debt, HR, conference calls, and corporate hostage videos to produce less profit than Strategy can potentially raise through one preferred security in one 6.5 hour market session.

Starbucks does an average of $342 million of profit per QUARTER.

Dollar Tree does $321 million of profit per QUARTER.

So if Strategy can plausibly raise or deploy around $300M to $400M in a single trading day through STRC, you are comparing one preferred-security capital-raising day to the average quarterly profit engine of dozens of S&P 500 companies.

That is OBSCENE scale.

And Strategy can convert that capital into Bitcoin.

The hardest asset on Earth.

The bears are still talking about mNAV while Saylor is building a capital machine that can inhale quarterly-profit-sized chunks of the S&P 500 before dinner.

Probably nothing.

[Christopher Walker @1Cobalt]

Christmas in May! The $GDC shorts have given us a gift

[G @Hamnakedshorts]

$GDC for 16c I can wait 5 years. At $1M
1,000,000x7500=7,500,000,000. $7.5BILLION
makes $GDC $1000 a share in cash value

Bitcoin could reach $1 million within five years, VanEck’s head of digital assets research Matthew Sigel said in a bullish forecast,

[Christopher Walker @1Cobalt]

Crisis = Opportunity? $GDC holds $10 worth of $BTC per share (audited), yet the stock is selling for 15 cents/share. That would be 66X if it just goes back to $10/share and 150X if the stock were to rise to $23/sh. That’s what the contributing entity received in shares in exchange for the 7,500 BTC deposited to the GDC at the time.

[The Bitcoin Historian @pete_rizzo_]

BREAKING: WHITE HOUSE REPORTER JUST CONFIRMED A MARKUP FOR THE #BITCOIN AND CRYPTO CLARITY ACT AS SOON AS TOMORROW

A COMMITTEE VOTE IS EXPECTED NEXT THURSDAY

CLARITY IT'S FINALLY HAPPENING 🚀

[Christopher Walker @1Cobalt]

The US $ is a meme coin, and so is #SEC #FINRA $USDJ enforcement of #NakedShorts #Counterfeit shares #counterfeitshares Textbook case $GDC real shareholders are real victims. The math is impossible

[Documenting Saylor @saylordocs]

Someone just shilled me this meme coin:

- 35 trillion supply
- No supply cap
- 1 node
- 25% of supply minted in the last 6 months
- 1% of holders own 30%
- Backed by the U.S. government

[Christopher Walker @1Cobalt]

$MSTR #BTC Well said.

[Zaid 🟧 @zaidlikesmstr]

$MSTR

Strategy is going to be a seller of Bitcoin.

I wanted to take the time to absorb the reaction to the earnings call before laying out my thoughts…

Each time you walk out of a @Strategy earnings call, it feels like graduating from another semester of corporate finance. This one was no different.

Four things stood out to me:

Narrative.
Execution.
Optionality.
Trust.

—

Narrative.

It has become evidently clear that Strategy leads the narrative in the Bitcoin space. Full stop.

Only Saylor could spend years driving the message of never selling your Bitcoin, build an entire community around that conviction, and then evolve the narrative to include the selective sale of Bitcoin without meaningful pushback.

That only happens because the Bitcoin community has submitted to Strategy’s leadership. Completely.

I won’t pretend I was always open to this. I wasn’t.

I believed that any sale of Bitcoin, in any amount, would damage trust in the company. Saylor proved me wrong. Again.

He continues breaking models in real time, evolving the message while somehow bringing the entire crowd with him.

This earnings call sealed it for me.

Strategy drives the narrative in this space.
Everyone else reacts to it.

—

Execution.

Strategy has never allowed the market to corner them. Not once.

They were transparent early that convertible bonds were no longer serving the company’s long-term interests. Fully aware of the future obligations attached to them, they began trailblazing a path toward simplification. A path toward a balance sheet with no debt.

The convertibles were the first signal.

The second was the clear intention to reduce reliance on common equity issuance for funding dividends.

The arbs built an entire thesis around Strategy being heavily dependent on the common.

Strategy found a path out of that corner too.

Every time the market thinks it has them figured out, they uncover a route that most people, including many of the bulls, never saw coming.

—

Optionality.

This was the most important part of the earnings call.

Strategy now appears to have a deliberate lever for nearly every market condition imaginable.

Bullish Bitcoin environment.
Bearish Bitcoin environment.
Strong $STRC demand.
Weak $MSTR sentiment.

Across every layer of the capital structure, there is now something they can activate.

That makes it exponentially harder to pin this company down to a single outcome or build a rigid thesis around how it grows or fails over the next decade.

The range of outcomes has expanded in Strategy’s favor.

And underneath all of it is math.

Math told management that selling Bitcoin under certain market conditions can be massively advantageous.

A company that runs on math will ultimately follow math.

That may be the only true certainty in this space.

—

Trust.

@Werkman said it best.

Walking out of a Strategy earnings call, you feel like the capital you have deployed is sitting in safe hands. Extremely competent hands.

That is what this company has really built.

Trust.

The kind that allows them to evolve the narrative without losing the crowd.

The kind that gives them the optionality to execute in almost any environment.

The kind that has the entire Bitcoin community watching..

Strategy has reached the point where the market gives them capital because the market believes in them.

As the apex company in this space.

As the standard bearer for what operating a company on Bitcoin actually looks like.

The trillion dollar destination no longer feels like a question of if.

—

Conclusion?

Happy shareholder

$BTC $MSTR $STRC

[Christopher Walker @1Cobalt]

$GDC #WashTrading #NakedShorts #SEC Wake up. Wash trading is illegal. The Securities Exchange Act Section 9(a) (1) and Commodity
Exchange Act Section 4c(a) prohibit it. These laws ban transactions that create false appearances of active trading.
The SEC wash trading rules don't require proof of intent to manipulate.

[G @Hamnakedshorts]

$GDC the wash TRADES and the short side is short and the LONG side SELLS the new fakes shares into the market thats what we are seeing all to get you to sell

They create LONG stock to sell and dont give a fuck about settlement

[Strategy @Strategy]

If $BTC price appreciates by just 2.3% annually, we can fund all our dividends indefinitely.