Strategy’s capital structure enables tiered BTC/USD risk exposure for investors.
Risk-averse want downside protection with defined yield (but capped upside).
Risk-seeking want leveraged upside that is uncapped (but riskier).
This addresses the two most frequent objections to bitcoin exposure: “it’s too volatile” and “the best returns are in the past”.
Marginal revenue per MWh of the most efficient bitcoin mining rig has fallen from ~$200 to ~$150 this year due to a lower bitcoin price and higher global hashrate
BREAKING: Texas' state house Democrats have proposed a bill that would authorize up to $250 million state investment in Bitcoin and up to $10 million for each municipality and county.
Bitcoin is bipartisan. Thank you @ronereynolds and @plesafortexas for your leadership!
Corporates who get interested in Ethereum want to do smart contract utility blockchain dApp oracle web3 tokenization of RWA.
Even if they like Ethereum as a platform for building, they don’t see the risk-adjusted upside of buying 5% of ETH.
“Bitcoin maxis are useful for maintaining strong coordination around BTC.”
💯 but strong coordination around BTC also a natural market liquidity phenomenon, not just the result of a social culture. In fact I would argue maxi ideology is downstream of monetary economics.
New approach to the Bitcoin CAGR calculation that assumes a daily DCA during the 4-year window.
I think this CAGR dip is due to Biden's policies. As Trump re-privatizes the economy, gives regulatory clarity, and re-leverages the financial system, we'll tick back closer to 50%.
Bitcoin's 4-Year CAGR is at historic lows because the Fed raised interest rates.
Bitcoin is still growing, it's just slower until USD monetary policy materially loosens. This is a competitive global currency market.