Benoit

Bitcoin, MSTR, asymmetric bets
Learning in public
Co-founder of

[Benoit @benoitz]

A little about me

I spent 15 years in tech.

In 2015 I co-founded kimkim.

After years building a company, I’m now focusing on investing.

I’ll use this account to share what I’m learning along the way.

Mostly about:
• Bitcoin
• asymmetric opportunities
• long-term thinking

[Benoit @benoitz]

Added 500 more shares of $IREN today at $42.50.

Now holding 13,500 shares.

Still one of my highest-conviction positions.

[Benoit @benoitz]

@valerijatrades1 Dang, you’re carrying this market on your back.
Please bump it to $30. We can’t afford a crash. 😂

[Benoit @benoitz]

Portfolio update, top 3 holdings:

1. $MSTR — 53% (16,200 shares @ $65.29)
2. $IREN — 21% (13,000 shares @ $43.52)
3. Cash / SGOV — 9%

The cash is down.
The conviction is up.

I’m glad I had cash when the opportunity came.

Now it’s time to be patient.

[Benoit @benoitz]

Current top 3 holdings:

1. $MSTR — 44% (13,000 shares @ $57.88)
2. $IREN — 22% (12,000 shares @ $43.00)
3. Cash / SGOV — 19%

Still concentrated.

The difference is I now have enough cash to buy fear instead of just watching it.

[Benoit @benoitz]

Another 500 shares of $MSTR today at $86.

Every lower price gets a little more cash from me.

Not trying to catch the exact bottom.

Just following the plan.

[Benoit @benoitz]

Added 500 shares of $MSTR at $95 today.

A few weeks ago I was hoping for these prices.

Everyone wants lower prices until they actually get them.

[Benoit @benoitz]

@BitMasterK Same.
Everyone wants higher future returns, but nobody wants the lower prices that make them possible.

[Benoit @benoitz]

@aaronbina13 How low?

[Benoit @benoitz]

Added 500 shares of $MSTR today at $105.

Not trying to pick the bottom.

Just slowly deploying cash into prices I like.

And if we get sub-100, I still have cash left to deploy.

Cash is now down to ~18% of the portfolio.

[Benoit @benoitz]

Current top 3 holdings:

1. $MSTR — 44% (13,000 shares @ $57.88)
2. $IREN — 22% (12,000 shares @ $43.00)
3. Cash / SGOV — 19%

Still concentrated.

The difference is I now have enough cash to buy fear instead of just watching it.

[Benoit @benoitz]

@clintoptions The bankruptcy thesis gets stronger every time the stock goes down.
Every bear thesis sounds convincing until someone asks for the actual mechanism.

[Benoit @benoitz]

@Nicolascole77 @saylor People want asymmetric returns with symmetric emotions.

Unfortunately, that’s not how it works.

[Benoit @benoitz]

@valerijatrades1 Acquire 800,000+ BTC.

Spend his time promoting Bitcoin globally.

Get accused of being bad for Bitcoin.

Tough crowd 😄

[Benoit @benoitz]

@matthughes13 That’s usually how bottoms work.

Everyone wants lower prices until they get them.

[Benoit @benoitz]

Starting to nibble on $MSTR and $STRC here

MSTR < 110
STRC < 90
Not calling a bottom, could absolutely go lower

Finally getting into a range where I like the risk/reward
These are the first prices in a while that make me want to deploy cash

[Benoit @benoitz]

@JoshMandell6 Those aren’t stretch marks anymore,
Those are shareholder tattoos

[Benoit @benoitz]

@CoinDesk Isn't Strike based in Chicago. Are they going to relocate?

[Benoit @benoitz]

@moninvestor Beautiful. At $30, it feels like the market is still assigning very little value to the peptide opportunity.

[Benoit @benoitz]

@ColeMacro Banger

[Benoit @benoitz]

@mikealfred As a shareholder, I love seeing this kind of alignment.
Nothing says conviction quite like writing a bigger check.

[Benoit @benoitz]

@RealJackPoor 1. Go acquire 845,256 Bitcoins
2. Earn the right to call Saylor insane