Crypto_Cooper91

Irresponsibly long BITCOIN & MSTR

[Crypto_Cooper91 @Crypto_Cooper91]

@saylor Stop doing this fucking dilution.

[Crypto_Cooper91 @Crypto_Cooper91]

@diglloyd @Strive Strive is better than mstr

[Adam Livingston @AdamBLiv]

🔥STRATEGY BUYS 1,587 BITCOIN AND ADDS $100 MILLION TO THE USD CASH RESERVE🔥

Strategy's capital markets activity last week was ACCRETIVE to MSTR shareholders.

They issued 1,732,553 MSTR shares and raised $209M.

They bought 1,587 BTC for $100M and increased the USD Reserve by roughly $100M.

That means the common residual got two things:

1,587 BTC and about 1,559 BTC-equivalent cash at $64,126 BTC

That is roughly 3,146 BTC-equivalent added to the common residual.

Did the new shares bring in more residual BTC-equivalent value per share than existing shareholders already had?

Yes.

After the transaction:

Net senior claims in BTC:

($22.2B - $1.1B) / $64,126 = 329,040 BTC

Common Equity BTC:

846,842 - 329,040 = 517,802 BTC

CEBE:

517,802 / 356.320M basic shares = 145,319 sats/share

Before the transaction, CEBE was roughly 145,142 sats/share.

Verdict:

145,142 → 145,319 sats/share

That is +177 sats/share, or about +0.12% accretive.

BTC-only looked dilutive. BTC + cash was accretive.

That is why CEBE matters.

Common equity holders do not merely have exposure to the newly purchased Bitcoin line item.

They own the residual economic exposure to the balance sheet after senior claims.

BTC matters. Cash matters. Debt matters. Preferreds matter. Share count matters.

CEBE captures all of it:

[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.

[perezlinaza @perezlinaza]

If you own Bitcoin, read this.

[Crypto_Cooper91 @Crypto_Cooper91]

@BTCtreasuries 그러면서 현금 보유고를 그렇게 줄이냐
멍청한 인간, 멍청한 경영

[Zynx @ZynxBTC]

Winning with Bitcoin requires buying through the periods when it is hardest and the price action is most discouraging.

On December 5th 2013, $BTC closed at an all time high of $1,152.

It took exactly 3 years and 1 month to close above that price again.

On January 5th 2017, it finally made a new all time high at $1,156.

3 years of being told it was over. 3 years of pain.

Most people do not have the temperament for this which is why index funds are so popular.

For those who can stomach it, doubling down on Bitcoin during these periods has always paid off.

[Crypto_Cooper91 @Crypto_Cooper91]

@btc5000sws 이러면 strc는 진짜 ㅈ됐네

[Crypto_Cooper91 @Crypto_Cooper91]

@BtcPicture 바로 직전 실적 발표에서 회사에서 BPS가 가장 중요한 KPI라고 하고 또 말 바꾸고
현금 보유고 2년치 이상 유지한다고 하고 바로 돈 쓰고
비트 안판다고 하고 팔고 ㅋㅋ
치매가 온듯

[Crypto_Cooper91 @Crypto_Cooper91]

@BtcPicture 마이클세일러는 말이 너무 자주 바뀜.. 이 짧은 사이에도 도대체 몇개나 바뀌는지 경영적 판단이 점점 신뢰가 안가네

[Crypto_Cooper91 @Crypto_Cooper91]

Am I the only one who thinks this company's strategy is getting increasingly convoluted and messy?

[K A L E O @CryptoKaleo]

Saylor just admitted to completely shifting the focus for Strategy.

He defended the weekend raise on a total assets per share basis instead of BTC Yield:

“when both assets are included, it was accretive”

That’s a huge departure after years of preaching BPS (Bitcoin per share) as the metric that matters.

MSTR’s premium (now trading ~1.35x NAV - the Bitcoin minus the ~$22.7B of debt and preferred ahead of it) has never been about a screenshot of the static balance sheet.

The market pays for future BPS growth and leverage.

The moment the standard becomes “current net assets per share,” a static pile should trade near 1x.

So he’s using NAV math to win this argument while the entire valuation rests on the BPS growth frame he’s stepping away from.

NAV defends the deal but condemns the premium.

BPS growth defends the premium but condemns the deal.

He can’t keep both.

[Crypto_Cooper91 @Crypto_Cooper91]

@phongle Think BPS, not your fucking greedy.
Control fucking your chairman

[Crypto_Cooper91 @Crypto_Cooper91]

@saylor @mattkratter Bitcoin per share is the most important thing.
Don't forget this.
Think shareholders, not your greedy.

[Lyn Alden @LynAldenContact]

@BitPaine The company's execs are all great. Saylor, Le, Kang, Jajodia, CJ. They're doing great work. Met most of them.

Still:

-In Feb 2026 they committed to a 2-3 year dividend dollar reserve.

-In May 2026 they committed to a $2.25B reserve.

The conservative bulls like consistency.

[Crypto_Cooper91 @Crypto_Cooper91]

-8%???
What the fuck is going on?

[Crypto_Cooper91 @Crypto_Cooper91]

@thebtcpharaoh Bitcoin is a shit, AI is a real thing.
Price prove this.

[Crypto_Cooper91 @Crypto_Cooper91]

@dotkrueger This is true.

[Crypto_Cooper91 @Crypto_Cooper91]

@nakjumon 존나 깝치네

[Crypto_Cooper91 @Crypto_Cooper91]

@saylordocs