ZynxBTC

Austrian Economics | Bitcoin is Noah's Ark | Advisor @FalconedgePlc

[ZynxBTC @ZynxXBT]

Saylor has spoken.

Honestly I'm surprised he has come out and has explicitly chose a side in the BIP-110 debate.

This is no doubt one of the most contentious posts he has ever made.

Don't shoot the messenger, I'm just grabbing the popcorn.

It's going to get tasty.

[Michael Saylor @saylor]

After a decade of blockspace fears and non-monetary-use panics, Bitcoin still has no spam problem. Fees are 1 sat/vB: anyone can move any amount globally with immediate processing for ~$0.30. The free market has always solved Bitcoin’s blockspace challenges. $BTC

[Zynx @ZynxBTC]

The same people that told you STRC was going to zero are now arriving at the completely wrong conclusions about the Strategy Bitcoin sale.

They have missed the point entirely.

This is all about working towards S&P 500 inclusion and a better credit rating for their products.

For the first time ever, all 5 of the Strategy preferreds had their dividends paid for by capital raised through the sale of Bitcoin.

This has destroyed the "ponzi" narrative and is a clear demonstration of their willingness to sell Bitcoin if necessary.

It's also about proving that they can monetise their holdings even during a "Bitcoin stress"... words used by S&P Global back in October when they assigned Strategy their B- rating.

No rational person can view this Bitcoin sale in any other way. They have just increased their USD reserve to $2.5 billion, they are not desperate for capital.

The truth is, since October last year Saylor has been doing everything to address the concerns raised by S&P Global.

1) They established a USD reserve which has improved their USD liquidity.

2) They have paid back some of the convertible debt and made it clear they intend to pay it all back aggressively.

3) The company continues to demonstrate strong access to capital markets even during a "Bitcoin stress".

Unfortunately you will see a lot of misinformation and FUD today but this should provide clarity amongst all the noise.

Bullish on $MSTR.

[ZynxBTC @ZynxXBT]

Saylor told us they would sell some Bitcoin ages ago in an earnings call. Just last week they said they would monetise up to $1.25 billion worth of $BTC.

Now people are surprised?

I am genuinely perplexed that there is still such information asymmetry in this digital age.

[ZynxBTC @ZynxXBT]

Like clockwork, those telling us that it's all over for $BTC and $MSTR are back.

They are wrong obviously.

Sometimes, the hardest thing to do is to do nothing.

There is a reason why the best investor is the dead investor.

You have to ignore the noise and stay the course.

[Michael Saylor @saylor]

After a decade of blockspace fears and non-monetary-use panics, Bitcoin still has no spam problem. Fees are 1 sat/vB: anyone can move any amount globally with immediate processing for ~$0.30. The free market has always solved Bitcoin’s blockspace challenges. $BTC

[ZynxBTC @ZynxXBT]

I like this transaction.

Some will complain that it lowered Bitcoin per share, but a brief dip in BTC/share is worth the expansion of the collateral base and a stronger USD reserve.

BTC yield is still up 12.5% YTD.

The balance sheet is getting stronger.

Bullish on $MSTR.

[Michael Saylor @saylor]

Strategy has acquired 1,587 BTC for $100 million to increase our $BTC Reserve to ₿846,842. We have also increased our USD Reserve by $100 million to $1.1 billion. $MSTR $STRC https://t.co/27PYXJN7GD

[Zynx @ZynxBTC]

I am still buying.

Saylor is still buying.

You should still be buying.

The green days shall return for bitcoin:native.

Stay the course.

[Simon Gerovich @gerovich]

There is a limited universe of listed preferred shares in Japan today. Upon listing, our preferred would be only the seventh in the market, and the first perpetual preferred. We view this as a meaningful contribution to the development of Japan's capital markets, but it is also why the path to listing is necessarily deliberate.

In the Japanese market, dividends on preferred shares are expected to be supported by sustainable cash flows generated from underlying operations. The listing review accordingly assesses dividend-paying capacity based on projected financial performance over a multi-year period, including scenarios across different market environments. Metaplanet already has a six-quarter track record in its Bitcoin Income Generation Business, and we believe it is important to continue demonstrating that the business can generate stable, recurring cash flows across both strong and weak Bitcoin market conditions. We are also continuing to articulate the scalability and long-term viability of our related operating businesses that support this cash flow profile.

A second consideration is dividend operations. Listed companies in Japan have historically paid dividends once or twice per year. The structure we are designing contemplates more frequent distributions, including monthly dividends. Implementing this requires careful work on record-date procedures, shareholder identification, dividend calculation, and recurring shareholder notice operations. We are working closely with our partners to build and modernize this infrastructure in a manner consistent with Japanese regulatory and market practice.

The process has taken longer than we initially anticipated, and we appreciate that this has created uncertainty. We are deliberate about this work because Japan today is one of the most yield-starved major capital markets in the world, and we believe a preferred equity product supported by credible operating cash flows, robust operational infrastructure, and a long-term growth strategy can meaningfully address that need. We are deeply committed to bringing this product to market, and to doing so in a form that earns the long-term trust of investors and market participants.

[CFTC @CFTC]

Commission Staff Confirms the Categorization of Certain Crypto Asset Perpetuals as Foreign Futures and Issues No-Action Letter Regarding FCM Transfers of Customer Crypto Assets to Foreign Brokers as Margin:
https://t.co/mNzwFL6Wve

[Matt Cole @ColeMacro]

Strive acquired an additional 2,500 $BTC for ~$185.2M at an average cost of ~$74,092 per bitcoin.

STRIVE SNAPSHOT
Bitcoin holdings: 19,000
QTD BTC Yield: 23.0%
YTD BTC Yield: 36.7%
Amplification ratio: 57.0%

Cash was increased to maintain 18-month dividend reserve.

$ASST $SATA

[ZynxBTC @ZynxXBT]

We are going to see $MSTR in the S&P 500 sooner than we think.

Removing $1.5 billion of convertible debt from the balance sheet will please the index committees.

Strategy have a balance sheet built for war.

[Michael Saylor @saylor]

Strategy to repurchase $1.5 billion principal amount of 2029 convertible notes. $MSTR $STRC https://t.co/enRuc7PBkY

[Zynx @ZynxBTC]

People are going to be shocked when $SATA spends more days at par this month than $STRC.

The next shock will be when the 30-day VWAP for $SATA is higher than $STRC's.

There is no reason for retail investors to choose 11.5% yield over 13% and they are most of the demand.

[Zynx @ZynxBTC]

The market is now betting on rate hikes.

Absolutely incredible.

We went from expecting 3-4 rate cuts to now potential rate hikes.

The era of cheap money is truly over.

[Zynx @ZynxBTC]

My feed is telling me it's a big election night in America.

For those who are disappointed by the result, remember this.

Politics is ultimately a charade.

The same system perpetuates itself regardless of who wins. The money gets printed, the debt grows and the purchasing power of your savings erodes.

Bitcoin is more than just an investment. It is hope in an otherwise bleak world. It allows us to have control over at least one element of our lives regardless of who is in power.

Sovereign capital and sovereign money for sovereign individuals.

Bitcoin is hope. Do not despair.

[Zynx @ZynxBTC]

The Treasury is pushing supermarkets to cap food prices.

This is the oldest and most discredited tool in the interventionist playbook.

Price controls do not reduce inflation.

They suppress the price signal that tells producers to produce more and consumers to adjust their behaviour.

Remove that signal and you get shortages, empty shelves and black markets.

This is Economics 101.

Prices are information. When the government caps them, it destroys the information. The underlying inflation doesn't disappear. It just becomes invisible until the system breaks.

The fact that the Treasury is resorting to this tells you everything about how desperate the situation is. They are running out of tools and gilt yields are soaring.

Expect financial repression to be the next step.

They will force pension funds to buy gilts at below market rates. It has happened before and the conditions for it are forming again.

First your food prices, then your pension.

They are coming for everything.

[Zynx @ZynxBTC]

13 of the top 15 institutional holders of $MSTR have been adding to their positions.

These are not retail speculators.

They are some the largest capital allocators in the world and they are buying.

When the tide turns for Bitcoin it's going to be glorious.

[Zynx @ZynxBTC]

$SATA currently has a higher Sharpe Ratio than $STRC.

As predicted, the Strive product is beginning to outperform across multiple metrics.

Expect more days at par, reduced volatility and a higher 30-day VWAP for $SATA before the month is out.

This is what 13% does to 11.5%.

[Zynx @ZynxBTC]

When I entered my $ASST position at $7.92 I didn't expect the company to become this strong this quickly.

1) The move to daily dividends is simply fantastic. Buying Bitcoin every single day and being known as The Daily Dividend Company is a special kind of branding that will resonate far beyond the Bitcoin community.

2) $SATA has gone from strength to strength, achieving consistent days at par and currently has the highest Sharpe Ratio out of all the preferreds.

3) Strive are comfortable carrying the highest amplification ratio in the space. Put simply, when Bitcoin runs, $ASST runs fastest.

4) An in-house media arm that acts as a full marketing machine. They understood early that awareness is everything.

The pieces are in place. $ASST will be the fastest running Bitcoin equity for the foreseeable future.

That is my view.

[Zynx @ZynxBTC]

Everyone wants to call Strategy a ponzi.

Yet here we are about to get a live Q&A from Saylor and Co.

A company with a $58 billion market cap and a chairman who is a billionaire, answering questions in real time.

Find me another company doing this.

This is why $MSTR is the most comfortable hold in my portfolio.

[ZynxBTC @ZynxXBT]

Massive nod to Strive from Saylor and Phong in regards to the daily dividends.

They are humble enough to follow if the market likes it - which I suspect it will.

I thought it was magnanimous of Saylor to not want to "steal their thunder".

It's clear he wants them to succeed.