RaaitSaidFred

[Benny Johnson @bennyjohnson]

Hollywood understands that every hero must have a great origin story.

Spencer Pratt is on a true hero’s journey. The villains of L.A. pushed this man to the brink…

- Home burned down (Iron Man)
- Killed his pets (John Wick)
- Attacked his family (Batman)

Most people would pack up and leave.

But Pratt is staying. He’s fighting. And now he's on the verge of the biggest political upset in LA history.

The city broke him down to nothing. And he came back stronger.

He’s not the hero L.A. deserves but the one it needs right now.

It’s Pratt Man 🇺🇸

Thanks for having me on @JesseBWatters and @FoxNews!

[Restore The Empire @empire_res66190]

Be honest do you think Rupert Lowe would be a great Prime Minister?

[C3 @C_3C_3]

There is literally nothing California could do to make their elections less secure.

Mail in ballots and No ID.

Weeks of counting with no real chain of custody.

The fraud is staggering.

It’s an insult to America.
It’s an insult to Americans.

[Restore Britain | Stone, Great Wyrley & Penkridge @RestoreSGWP]

Last night’s @RestoreBritain branch meeting brought together patriots from across the constituency.

Real people with real experiences and a passion to restore this country.

We are going to win.

[Adam Livingston @AdamBLiv]

Everyone keeps acting like common equity issuance is automatically accretive above 1.0x mNAV, as if Strategy is some clean little all-common Bitcoin wrapper with no senior claims, no preferreds, no debt, and no diluted-share math.

Then Strategy gets on the earnings call and says that BPS accretion is the primary goal. They also say that mNAV is one input.

They also say breakeven for accretive MSTR issuance is around 1.22x.

Why?

Because their actual test is: ADSO Market Cap > BTC Reserves.

They are literally using assumed diluted shares outstanding, then asking whether the fully diluted common equity value exceeds the Bitcoin reserve value.

Once you have debt and preferred equity in the stack, 1.0x mNAV stops being the magic accretion line because common shareholders do not economically own the full BTC reserve free and clear.

The denominator changed, the capital structure changed, and that means the accretion threshold changed.

That is why the slide shows:

BTC Reserves: $64B
Basic Market Cap: $59B
Net Debt + Pref: $20B
Enterprise Value: $79B
ADSO Market Cap breakeven: $64B

So the BPS-accretive threshold happens when ADSO market cap reaches BTC reserves, while the enterprise value mNAV shows roughly 1.22x.

1.0x mNAV is caveman math, and 1.22x is the capital-structure-adjusted breakeven.

CEBE says common shareholders should care about their economic BTC exposure after senior claims.

Strategy’s slide says the mNAV breakeven changes when the capital structure changes.

Those are not the same exact metric.

But they are solving the same problem, that gross BTC per share is incomplete without understanding the claims stack.

With CEBE mNAV, the accretion threshold is still 1.0x, but the denominator is already adjusted for senior claims.

The 1.22x number exists because Strategy is no longer a simple all-common Bitcoin wrapper.

It is a structured capital markets machine wrapped around a Bitcoin reserve.

The people still yelling “1.0x mNAV” are doing balance sheet analysis with a Fisher-Price calculator.

[Nick Goldthorpe @Goldth71609Nick]

I have just joined Restore (previously in Advance) and am very happy that Ben has encouraged members to move on over.

[Bill @Bill4Britain]

Nick has joined Restore from Advance. Seeing a few coming over now. Let's make them feel welcome 👏👇

[Sandra jane @Sandrajane1966]

Absolutely Rupert Lowe 🇬🇧🏴󠁧󠁢󠁥󠁮󠁧󠁿🇮🇪🏴󠁧󠁢󠁳󠁣󠁴󠁿🏴󠁧󠁢󠁷󠁬󠁳󠁿🇬🇧

[Elon Musk @elonmusk]

💯

[Adam Livingston @AdamBLiv]

🔥WE NEED TO TALK ABOUT MSTR - STRC DEPEG + BITCOIN CRASH!🔥

MSTR is now down -28% over the last month.

The armchair critics are running rampant.

The anime profile pic anonymous trader goblins are running around acting like they can outmaneuver a mega-genius billionaire.

The Strategy conversation needs NUANCE.

Here I discuss the STRC depeg, MSTR crashing, and what it means for the future:

[Zynx @ZynxBTC]

The reasons why $STRC is trading below $95 currently:

1) The product was already struggling because the yield was too low. There has been too much compression between its current yield and the risk-free rate with USTs rising since March. I have spoken about this all month.

2) Every time Bitcoin has a significant drawdown the product trades down from par. We have seen this on multiple occasions previously.

3) The reduction of the USD reserve to repurchase the converts may have caused some people to sell. Likewise the sale of 32 Bitcoin may have spooked others.

4) The presence of $SATA has compounded all these issues as capital has moved from the lower yielding product to the higher yielding product.

The good news is all of this is easily fixed.

They will increase the yield and replenish the USD reserves. The move to bi-monthly dividends should also reduce volatility. It will also be helped by the stabilisation of the Bitcoin price.

No need for panic. Strategy are just fine.

[MR SHIFT 🦁 @KevinWSHPod]

. @saylor argues Bitcoin's dominance has nothing to do with belief - it follows the exact same pattern as every winning protocol in human history.

"There is no second best math protocol. There is no second best language."

"Once a protocol hits critical mass, there's a massive network effect. And all of the money and the power and the influence of the world follows."

"Learn Arabic math. Learn to read English. Learn Bitcoin. If you want to be wealthy and powerful. Because that's where all the money is."

@Strategy

[Hermes Lux @HermesLux]

This is one of the better video clips I've seen from @saylor. He’s a true big-picture thinker who understands at a high level how systems work, succeed, and fail. Most people complaining about Bitcoin or @Strategy aren’t operating from that big-picture view—at least not in the moment. When you grasp the governing principles and protocols that shape the smaller details of life, everything else becomes far easier to understand and even predict.

Nothing is truly new in life, as everything unfolds in cycles. Bitcoin is simply the latest materialized solution—and the most successful protocol yet—for its intended purpose. We haven't even reached critical mass.

The Hermetic axiom "As above so below" illustrates this principle: just as Bitcoin became the most successful decentralized sound money protocol by outcompeting its predecessors—similar to how TCP/IP and HTTP reshaped communication, or how the Arabic numeral system transformed mathematics—large-scale systems and small personal actions are interconnected, with everyday choices scaling up to shape broader outcomes.

[Adam Livingston @AdamBLiv]

How I sleep at night knowing the MSTR bears can’t do math

[Zaid 🟧 @zaidlikesmstr]

$MSTR

Bitcoin will go back above $100,000.
$STRC will go back to $100.

“With every minute you do change a mind. And call him noble that was now your hate, him vile that was your garland.”

Shakespeare wrote that about a crowd.

The crowd that cheers the king one day and calls for his head the next.

He could have written it about a Bitcoin market day.

For newer investors in this space, days like today might make you question the authenticity of the asset.

It might make you question whether you made the right decision.

It might make you want to exit and save yourself from a falling knife, as the voices around you will certainly encourage you to believe.

Volatility is not a pleasant experience for people who have not yet built the resilience for it.

But before you do anything, ask yourself one question.

What has fundamentally changed since you bought?

Nothing has changed about Bitcoin.

Not from when it was at $80,000.

Not from its all time high of $126,000.

Nothing has fundamentally changed about @Strategy or its products either.

In fact, one can argue they are stronger than they have ever been.

Over the past year, despite the continued pressure on Bitcoin’s price, the company has continuously found ways to raise capital, accumulate, and create value.

The ones I empathize with most today are $STRC holders.

$STRC was not designed for volatility.

It was designed for people who did not want it.

So if you are experiencing it today, I understand why it does not feel good.

But before you press the sell button thinking you are saving yourself, remember what you are actually invested in.

The company behind this instrument holds over $55 billion in Bitcoin.

It has 6 months of dividend payment coverage.

It has 31 years of Bitcoin dividend coverage.

And it is targeting a $300 trillion pool of yield seeking capital that has barely been touched.

$STRC is not immune to volatility.

It is resistant to it.

History backs that up.

On February 5th, $STRC hit its lowest point at $93.67.

The very next day it was at $98.76.

Six days later it was back at $100 flat.

Six days.

That is the recovery window for short term capital in this instrument.

Bitcoin does what it always does.

It moves when you least expect it, in either direction.

The skeptics are loudest right now.

This is precisely the moment where you should not be driven by opinion.

If you think you have made a mistake, dig deeper.

If you are considering selling, understand the balance sheet first.

Understand what is backing it.

Understand why this company has continued to do what it does year after year.

Every year is the same story.

Bitcoin is a freedom virus.

And freedom does not always come without resistance.

You just have to decide which side you stand on.

And understand why this company has chosen to stand there with you.

$BTC $MSTR $STRC

[Libs of TikTok @libsoftiktok]

NBC says the quiet part out loud

LA won’t have results tonight because tonz of mail-in ballots will be arriving over the next few days which will help the Democrats

This is how they cheat

[Benny Johnson @bennyjohnson]

This is the greatest clip in the internet right now…

MSNBC cuts the feed in PANIC as Spencer Pratt supporters tell the TRUTH about Los Angeles LIVE on-Air.

The reaction is hysterical. Full-scale corporate media cover-up

[Strategy @Strategy]

4 days left to vote on the $STRC amendment. Same dividend. Twice as often. Just like your paycheck. This is your chance. Watch the video to learn how to vote in 15 seconds.

[Michael Knowles @michaeljknowles]

The most arresting aspect of the body cam footage is the realization that Henry Nowak actually was who the Left tried to make George Floyd out to be. They uttered the same dying words. The phenomenon was real, but the details were precisely inverted.

[Elon Musk @elonmusk]

Iliad (Troy) trailer made by Grok Imagine 1.5, which was just released