bmac.sol

🐦 #bitcoin #ethereum #solana #monero

[bmac.sol @bigmac375]

@KelseyMBrickl @beyoncegarden I’d be mad too

[bmac.sol @bigmac375]

@KelseyMBrickl @beyoncegarden This is my reply you’re scared to reply to, but ok. You write like a child.

[bmac.sol @bigmac375]

@KelseyMBrickl @realchaneethai @beyoncegarden You are a nasty bitch

[bmac.sol @bigmac375]

@KelseyMBrickl @beyoncegarden I have made more money in crypto in the last 10 years than you ever will see.

I say it’s AI because it comes across as amateurish rather than thought out fully.

Ad homemin attacks because you’re mad and I’m right.

You’re more French than American eating dinner at 1:30 ET.

[bmac.sol @bigmac375]

@KelseyMBrickl @beyoncegarden Get fucking cooked

[bmac.sol @bigmac375]

@KelseyMBrickl @beyoncegarden You talk like AI, probably because you run everything through it, you’re fake as fuck, you’re not “sorry”. You take umbrage with me calling you French as “misguided”, even though it still applies as France is a country that you represent, rather than me calling you a rude cunt

[bmac.sol @bigmac375]

@KelseyMBrickl @beyoncegarden No one even saw the kid. You are calling people weird for wanting to take pictures at a tourist site is uncalled for and rude, but that meets your entire countries attitude perfectly. Using your title in such a way is just crass. Shame on you

[bmac.sol @bigmac375]

@EndWokeness What a fucking terrible answer

[Jesse Myers @Croesus_BTC]

STRC down to $82.6 today. Here's my read:

1. Strategy is fine. If everything stays as is, they can pay STRC dividends for 32 years. If BTC appreciates at ~2% CAGR, they can pay dividends indefinitely.

2. Why the sell-off? This appears to be a liquidation cascade.

Over the last 6 months, the narrative became that STRC volatility was reducing, and price began to spend all its time in $99-100 range.

This invites leverage. If you expect the price to always be north of $95, you can take on 20x leverage with your portfolio to buy more STRC and dramatically increase the yield on your portfolio.

This works great, until it doesn't.

STRC is designed as a free-market asset. When attention shifted to SATA and STRC price flagged, it may have raised the attention of opportunistic short-selling hedge funds.

By shorting aggressively, they could push the price down and start triggering margin calls and liquidations from folks who aggressively levered up their STRC positions.

The price action today is a clear liquidation cascade, rapidly pushing prices lower, in turn triggering additional liquidations.

3.
What happens now? The market will heal itself.

Opportunistic hedge funds will recognize that this is a firesale and the fundamentals are unchanged for STRC and step in as buyers. Shorts will close, becoming buyers. Individuals are getting a tremendous entry price for long-term holding STRC shares.

Buyers at this level will get ~13.7% effective yield. If STRC trades back to $100 and they sell, they get an easy +18% return.

4.
What will Strategy do?

Strategy will likely increase the dividend rate on June 30 - maybe to 11.75% but possibly to 12%. Buyers at the current price level then would get 14.2% effective yield from that point forward.

Strategy may also step in to buy STRC shares back. They could do this by issuing new shares of MSTR (currently at 1.14 mNAV) or by taking on traditional debt and deploying those funds to buy discounted STRC shares on the market.

If/when STRC trades back to $100, Strategy could then re-issue those STRC shares. The ~$15 delta per share could be used to buy BTC as pure accretion to MSTR holders, with no net change to amplification.

No doubt that Saylor has already at least considered this, and it wouldn't surprise me if they're currently doing this.

5.
In summary...

The market is freaked out that this depeg is like Terra/Luna... but this is not an asset like that. Strategy's balance sheet determines whether STRC continues to receive dividend payments... and Strategy's balance sheet is completely unchanged.

This is a leverage wipeout.

From this, the market will learn that Digital Credit is mostly very low volatility. But because it is a free market asset, the longer that a Digital Credit instrument trades within a tight range to par... the more leverage will inevitably pile up as people get greedy.

And that creates the conditions for a leverage wipeout depeg. Following that, the instrument will make its way back to par value as the market heals itself and recognizes that the dividend payments will continue uninterrupted because the issuer's balance sheet is unaffected.

[bmac.sol @bigmac375]

@UfoHitch @posthervois Good thing romans gave them a home in the first place

[bmac.sol @bigmac375]

@longislandviper @_get2sammyb You opinion on if gamers should still buy halo and fable to show support ? I already bought gow reloaded

[bmac.sol @bigmac375]

@bee_fumo If you were handed down an old pc and had an gaming magazine sub and hung all the posters and had a weird house then yes 100% absolutely this was how things went. See me.

[bmac.sol @bigmac375]

@Wario64 Be for real right now you almost stopped production while Nintendo and PlayStation are absolutely printing consoles

[bmac.sol @bigmac375]

@XBOX The fuck are Yall doing?

[bmac.sol @bigmac375]

@HappyyChaoss @GreenTextRepost @ShadyIndividu4l The fuck are you even saying Jesus Christ what a sentence

[bmac.sol @bigmac375]

@AutismCapital @WomanDefiner Should rot

[bmac.sol @bigmac375]

Manufactured pump like ZEC and its community has done three distinct times now

[Anglio @anglio]

So $ZEC was able to move 10x in bear market because someone minted infinite amount then paid the biggest KOLS insane amount with rules of selling

Everyone starts to shill it price goes insane insiders keep selling and only after months of this people find the bug

Gotcha

[Him @himgajria]

If you connect the dots hard enough — the exploit went through, and the optimized route for the exploiter to offload their newfound infinite supply was to pay for a coordinated pump of the coin, which we witnessed via the biggest names in this space, all at the same time.

[bmac.sol @bigmac375]

@King_Samus @Pirat_Nation So easy to block lol

[Elon Musk @elonmusk]

@visegrad24 Most unfortunate. Rockets are hard.