Bitcoin Bull

Engineer, MSEE 🔸 Knots+BIP-110 🔸 Hyperbitcoinizationist 🔸 Bitcoin is the endgame

[Bitcoin Bull @Bitcoin_Bull_21]

@thetrueshelby @StevenCheung47 @MayaCamilla603 Sexy!

[Bitcoin Bull @Bitcoin_Bull_21]

Smart. I was never a fan of the "never sell" plan.

[Michael Saylor @saylor]

Strategy has established a $BTC Monetization Program under which we may sell BTC to fund our:
- USD Reserve ($1.25B cap)
- dividends and interest expense
- repurchases of our Digital Credit securities and $MSTR under our repurchase programs

[Bitcoin Bull @Bitcoin_Bull_21]

@saylor Thank you! I was never a fan of the "never sell" plan.

[Michael Saylor @saylor]

Strategy has established a $BTC Monetization Program under which we may sell BTC to fund our:
- USD Reserve ($1.25B cap)
- dividends and interest expense
- repurchases of our Digital Credit securities and $MSTR under our repurchase programs

[Michael Saylor @saylor]

Strategy has established repurchase programs for up to $1.0B of our Digital Credit securities and up to $1.0B of $MSTR. This will create flexibility to accretively buyback securities during market dislocations. Repurchases will not be funded from the USD Reserve.

[Michael Saylor @saylor]

$STRC dividend rate has been increased by 50 bps to 12.00%, effective for record dates in July, 2026. We will continue to evaluate the rate monthly. Our corporate objective is for $STRC to trade over time at $99-$100.

[Michael Saylor @saylor]

Strategy has increased its USD Reserve to $2.55B, representing 17.4 months of dividend coverage. The USD Reserve may be used only for dividends and interest expense, and will be maintained at a minimum of 12 months.

[Michael Saylor @saylor]

With $2.55B of USD Reserve and $1.25B of BTC monetization capacity for reserve-building, Strategy has $3.80B of dividend coverage, representing 25.9 months.

[Michael Saylor @saylor]

Strategy expects to remain disciplined in its use of $MSTR issuance, particularly when the stock trades at or near 1x mNAV.

[Michael Saylor @saylor]

We’re gonna need more charts.

[Michael Saylor @saylor]

Bitcoin is working today. So are we.

[Michael Saylor @saylor]

Volatility tests every capital structure. Strategy remains focused on Bitcoin, disciplined capital allocation, credit quality, and long-term value creation. We appreciate our investors and will continue to execute with transparency and resolve. $MSTR

[Michael Saylor @saylor]

Strategy announces a Digital Credit Capital Framework designed to strengthen Digital Credit, enhance liquidity, preserve long-term Bitcoin exposure, and support long-term value creation. $MSTR $STRC https://t.co/AUoUCtem53

[DNI Tulsi Gabbard @DNIGabbard]

Today, I’m releasing never before seen intelligence revealing new evidence of past US government funding for more than 120 biolabs in over 30 countries, including Ukraine.

In support of President Trump‘s Executive Order to end federal funding of dangerous gain of function research around the world, and increase transparency and accountability, ODNI will continue working with partners across the Administration to identify where these labs are, what pathogens they contain, and what “research” is being conducted.

https://t.co/pLMD0krc69

[Bitcoin Bull @Bitcoin_Bull_21]

@BigpictureBTC Interesting. There could be more runway left for MSTR than you think which we won't be able to really analyze until the next bull market. The perf dividend obligations keep diminishing when priced in btc.

[Bitcoin Bull @Bitcoin_Bull_21]

@CJ_Bitcoin @parkeralewis It's as if the Strategy team has thought through the math on this. Amazing!

[Chaitanya Jain @CJ_Bitcoin]

Price to Book (P/B) of any equity trades >1x when the expected Return on Equity (ROE) is greater than the Cost of Equity.

The ROE of Bitcoin Treasury Companies can be greater than $BTC ARR, if the cost of leverage is lower than $BTC ARR. This is how leverage works for purchasing any asset.

GBTC had no ability to take on leverage. It didn't have optionality with its capital structure or operations. Plus, it had a drag from its management fees.

[Bitcoin News @BitcoinNewsCom]

Bitcoin is down 50%, but the infighting inside the community is at all-time highs.

So we decided to have a little fun with it.

Using Saylor’s four Bitcoin ideologies as a framework, we break down the tribes, the feuds, and the endless timeline warfare that’s erupted during this bear market.

Enjoy.

📺: https://t.co/VREwD4oj4v

[Michael Saylor @saylor]

Still adding dots.

[Michael Saylor @saylor]

The shorter the liability duration, the more CEBE matters. The longer the duration, the more BPS matters. If claims came due today, CEBE BPS would be the more relevant metric. If BTC outpaces dividend obligations, BPS better captures common equity upside.