Shitcoin minimalist

Prefers facts over FUD.
Team rainbow.
Not the real Bernie Madoff (he's dead)

[Shitcoin minimalist @bccponzi]

This will be an ongoing thread with the worst Bitcoin treasury takes 👇

[Shitcoin minimalist @bccponzi]

@uhonyn @_J64_ @jdorman81 @Bankless Mstr doesnt make 500m/year. Thats their revenue at best, free cashflow is what matters and thats close to zero.

[Shitcoin minimalist @bccponzi]

@DylanLeClair 2,823 Bitcoin acquired at an average price of $78,600
Impressive

[Shitcoin minimalist @bccponzi]

@WazzCrypto @thedefivillain 😆

[Shitcoin minimalist @bccponzi]

@CryptoKaleo 👀
https://t.co/rGL5TaXCy5

[Shitcoin minimalist @bccponzi]

The gift that keeps on giving $MSTR

[Shitcoin minimalist @bccponzi]

@WazzCrypto @thedefivillain

[Shitcoin minimalist @bccponzi]

@mikewmunz @_Adrian Hard to beat these 👇

[Shitcoin minimalist @bccponzi]

This is the trilemma at the heart of every treasury company based on the Saylor model:

Pref/common/btc holders all pulling in different directions. Something always has to give.

[Matt Cole @ColeMacro]

SATA UPDATE

Targeting $100 and minimizing long-term volatility remain core objectives for $SATA.

But going forward, unless we communicate otherwise, investors should not assume Strive will automatically issue new $SATA shares at $100, although we expect that to remain likely under normal market conditions.

To be clear, we do not view current market conditions as normal.

Strive believes retaining issuance flexibility around $100 is in the best long-term interest of shareholders and the long-term stability of $SATA.

We do not believe over-engineered rigidity is the best way to minimize long-term volatility. Predictable, mechanical issuance rules can invite behavior that increases volatility over time. Recent market activity suggests this risk is not theoretical.

Issuance pauses or other actions will be evaluated based on what Strive management believes is in the best long-term interest of shareholders and the long-term stability of the security.

The framework is transparent, but specific actions will not be telegraphed in advance.

We expect to consider short interest, borrow costs, and other market data, but our analysis will not be limited to any single metric.

The goal is to make the structure more resilient, not less predictable for its own sake.

We asked for market feedback to pressure-test our view, and the engagement on both sides was thoughtful and constructive. We appreciate everyone who voted, commented, and reached out directly.

[Shitcoin minimalist @bccponzi]

@saylor @Strategy I guess we won't see this one anymore

[Shitcoin minimalist @bccponzi]

@badmofongo @BTCoptioneer @piovincenzo_ Borrow cost are multiple factors higher, shorters don’t care about the dividend cost when shorting.

[Shitcoin minimalist @bccponzi]

@ThinkingUSD Makes zero sense to raise rates and then buyback.

But hey, nothing Saylor does makes any sense at this point.

[Shitcoin minimalist @bccponzi]

@saylor ☝️How it started☝️

👇How its going👇

Weaker credit. Weaker equity. Less Bitcoin

[Shitcoin minimalist @bccponzi]

@scottmelker The problem with any annoucement by the Strategy team is that they have always been broken within months.

So yes I think the addition to the cash reserve is a good thing (for prefs mostly).

But do I trust the Strategy team to stick to this announcement ?

Big NO for me.

[Shitcoin minimalist @bccponzi]

@udiWertheimer He is the egg man 👌

[Shitcoin minimalist @bccponzi]

@Daeron0x Thats the second order effect indeed 👍

[Shitcoin minimalist @bccponzi]

Tldr:

👎👎 $MSTR common diluted as always - bad

👎 $BTC not sold yet, plan on doing so to fund prefs - future bad

👍 $STRC/pref, increased rate to 12%+ 24 month of cash runway - winning

[Shitcoin minimalist @bccponzi]

@bitcoindudebro Agree

[Shitcoin minimalist @bccponzi]

Is saylor hinting at buying back prefs last week?

For BTC buys or cash (green dots) he doesn't need a new chart, also polymarket insiders are betting on 'No' bitcoin buys this week.

Then it must be buyback of prefs? What else can it be?

[Shitcoin minimalist @bccponzi]

@zhanglixiang779 Possible, but he did sell before?

[Shitcoin minimalist @bccponzi]

@BrianHa24140826 @A10CWolf Reducing divs seems like really low chance. Cant see him doing that, it signals he cant/wont pay divs.

[Shitcoin minimalist @bccponzi]

@BigpictureBTC Maybe they bought back some of the others, but even if they did, given the low volumes on these, it can’t be more then $10m or so, drop in the bucket.

What do you think he did?

[Shitcoin minimalist @bccponzi]

@A10CWolf Depends on what he did and with what size, the bigger the better I think.

Possibilities imo:

1. BTC sell > cash
2. BTC sell > pref buy
3. MSTR ATM > cash
4. MSTR ATM > pref buy