$BTC: This appears to be a classic leverage-driven liquidation cascade, amplifying the downward move.
$MPJPY: If you believe in BTC, do not mess this up.
Volatility is the price we pay for the upswings.
Did you think "HODL" only applies in bullish times?...
Haitians first received TPS for an earthquake that happened over 15 years ago.
Syrians first received TPS for a war that is now over.
America is not their permanent hotel.
Temporary means Temporary.
Yesterday's authorization clears the path for H100. We can now move forward with the deal that takes us from around 1,051 to around 3,500 BTC.
The first question people ask is whether issuing shares to do that dilutes existing owners. It does not.
Every new share is issued in proportion to the Bitcoin each company brings, at the same Bitcoin per share on a fully diluted basis as our current balance sheet.
What makes it better than neutral is the debt.
We carry our convertible debt straight through the deal, and it does not grow with it. So as the Bitcoin base more than triples, the fixed debt becomes a much smaller slice of it, and Bitcoin per common share increases for all H100 shareholders.
But the math alone is not the reason this matters.
What we actually built is the ability to do it again. It is a replicable model to reach scale and consolidate the industry. A team that has now run an M&A transaction end to end. We proved we can grow the balance sheet in a tough market and add real capability to the team. And this is a model we can repeat.
The market is full of opportunities.
Consolidation is coming to this space, and the experience of running these deals will be one of the most valuable things to own as it does.
On top of that, we bring in a team with experience trading Bitcoin derivatives. That gives us a way to earn income from market neutral strategies without giving up our upside. We stay long Bitcoin and hold the collateral to act on arbitrage and similar opportunities when the market offers them.
H100 is in a strong position to attack multiple opportunities in the current market environment, and we thank all our shareholders for the support.
H100DL!
Driving through Ohio. Towns like this are why we’re trying to avoid the interstates and take the slower roads instead. These are the kinds of places we want to see. This feels like peak America.🇺🇸
Not like anyone cares, but I've still been quietly stacking.
I expect $MPJPY to announce their Q2 buys late next week. Unless I'm wrong, they just need 3,338 $BTC to take 2nd place.
Doubtful they get there, but, between that and the BFC Symposium they're hosting in NYC this weekend, I've got a feeling we're in for some interesting news 👀
Today, @H100Group shareholders approved the authorization required to complete the acquisition of Moonshot AS and Never Say Die AS.
The transaction will take H100 from 1,051 BTC to approximately 3,500 BTC.
A major step for the company.