The US invented modern derivatives markets, but we haven’t kept up with financial innovation as the world moved to 24/7 perps.
It's time to unlock equities perps and bring the most innovative new markets onshore.
ETH at $5.6K = Visa
ETH at $8K = JPMorgan
ETH at $9K = Berkshire
ETH at $12.5K = Meta
ETH at $15.5K = Broadcom
ETH at $23.5K = Amazon
ETH at $30.5K = Silver
ETH at $35K = Alphabet
ETH at $37K = Apple
ETH at $43K = Nvidia
ETH at $270K = Gold
@_Saxby_ Wilson Contreras celebrated to his dugout — he didn't stare down the pitcher and call him little boy. Cade can absolutely get hyped with his guys, but the way he did it crossed a line imo. Either way, great entertainment.
When I gave this speech in October 2022, Bitcoin traded near $20,000, Strategy held 130,000 BTC worth about $2.6 billion, and $MSTR was ~$24 split-adjusted. Weeks later, after Bitcoin fell below $16,000, our debt exceeded the combined value of our BTC and cash reserves by ~$300 million, and $MSTR fell into the $13 range by year-end.
We stayed focused, strengthened the company, and executed our strategy. Since then, Strategy has raised over $60 billion of additional capital and invested it in Bitcoin, adding more than 716,000 BTC. Today, our BTC and USD reserves exceed debt by ~$48 billion. Thank you to everyone who believed, endured, and took the long view.