Adam Gannon MD🍊 💊

Anesthesia, Bitcoin, MSTR, Repeat. You're Not Bullish Enough.

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@UFGator1977 Let’s get HRO revamped next! 😂

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@tyler Is that coffeezilla talking about bitcoin??

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@BTCoptioneer Counter-cyclicality!

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@docstacks Damn Dunkin’ has been lying to us this whole time

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@benschmidtbtc Math v Emotion sums up the conversation.

Jeff doing what we all know he does best- remain calm and crunch the numbers.

Risk is globally mispriced. Allocate your capital based on math, not emotion.

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@BitcoinNewsCom HFSP

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@saylor @Strategy @strive It’s almost like people love digital credit!

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@docstacks @OrangePillDocs 🫡 yes it does commander. I just keep my savings in a magic internet money

[THE BITCOIN PHARAOH @thebtcpharaoh]

Lots of posts today covering the significance of today’s large purchase announcement, and the contribution from $STRC — which looks like it’s just getting started here.

Instead, I want to address one topic in specific, which is mostly discussed by those who are more critical about $MSTR and it’s outlook.. and that’s regarding the aggressive use of the equity ATM near 1.0x mNAV.

It’s natural to be questioning what the logic is if it’s only neutral to mildly accretive for current shareholders.

Having followed @saylor very closely for over 4 years now, and listened carefully to every word he’s said — sometimes rewatching podcasts over again — what I know for sure is that this isn’t random or not thought through.

So the question we need to ask is, what is he achieving by it? ..and the answer becomes a little more obvious.

He is re-architecting what each MSTR share represents.

If you think of MSTR as a brick house.. composed of different quality bricks, each stacked on top of each other. That’s not very dissimilar to a company’s capital stack. Whereby the equity is the foundation, the most stable and the lowest risk.

Leverage came primarily from convertibles — high convexity, but with maturity and refinancing risk.

In order to shrink the convertible component (the hidden win), he needs to dilute them by issuing equity close to mNAV, thickening the equity base. A huge part of the long-run equity story is convexity management: reducing the share’s sensitivity to convertibles (dilution overhang + refinancing cliffs), and shifting the amplification engine toward preferreds.

The result is a healthier share with:
– Less maturity risk
– No forced BTC liquidation
– Max amplification that decays in fiat terms

The smaller the converts become as a % of the overall NAV, the less they matter, and the focus shifts purely to efficient amplification.

[Peter H. Diamandis, MD @PeterDiamandis]

Bitcoin is a peaceful, opt-in monetary revolution. That’s exactly why some find it so dangerous.

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@WatcherGuru @EricTrump @ABTC Is this a buy for ants

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@saylor ₿uy** any means necessary.

Fixed that for you Mr. Saylor

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@TheBTCTherapist It’s pronounced pre-rich!

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@mikealfred Make sure you name one of them Peter just for the lolz

[Adam Gannon MD🍊 💊 @SpideyDoc3]

Good news! MSTR is on sale for Cyber Monday 🚀

[Adam Gannon MD🍊 💊 @SpideyDoc3]

Can see it now:
“AI anesthesia robot in OR: monitor shows hypotension. Administering phenylephrine bolus. Subsequent blood pressure is still low. Administering ephedrine/vasopressin. Continues to administer pressors.”

IV is infiltrated and now you have an ischemic limb at the end of the case. There’s too many variables to account for in procedural specialties and especially the OR in my opinion.

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@Halstonvalencia Funny that the orange party are now the rational middle in between left and right.. used to be the crazy ones in the corner playing with our bitcoins 😂

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@mikewmunz 🤦🏼‍♂️ some docs are too ignorant to eat their pride and admit they don’t understand bitcoin, lets alone Strategy and the preferreds.

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@docstacks When does the merch arrive

[Adam Gannon MD🍊 💊 @SpideyDoc3]

@ScottiePippen Bro was this when you met Satoshi?? @saylor