I took my position in SLNH to 1.15M shares this week on the weakness across the sector. Every company in the neocloud and data center sector was hit with little delineation on business model or opportunity set. This is macro, not company specific. Dinner with CEO/CFO in 3 weeks.
JUST IN: Investment bank The Benchmark Company analyst Mark Palmer has initiated a buy rating on #Bitcoin treasury company Strive $ASST with a price target of $32.
"Strive has a capital structure that is purpose-built to withstand BTC volatility." 🔥
Bitcoin is at a historically optimal level to go out the risk curve to the maximal degree.
Strive ($ASST) has 62% amplification, an 18-month dividend reserve on $SATA, and zero encumbered $BTC.
We could literally do nothing & not have to sell a single Bitcoin until the end of 2027.
Have a great day and be greedy when others are fearful.
The $ASST announcement today was incredible.
They are moving to a 24 month cash reserve structure, approximately 18 months in USD and 6 months in $STRC.
The numbers:
• $SATA dividend obligation = ~$98 million annually.
• USD position increased from ~$93 million to ~$137 million.
• $STRC position holds steady at ~$49.5 million.
• 2500 Bitcoin purchased for ~$185 million.
They raised $175 million from $SATA alone. That is approximately 13% of their entire market cap raised in a single week.
Bitcoin on the balance sheet increased from 16,500 to 19,000. A 15.15% increase.
The Strive machine is working incredibly well.
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
🔥SATA IS ABSOLUTELY DOMINATING🔥
SATA just crossed $100 MILLION of trading volume and there is still nearly 2 hours left of trading today.
75% ATM capture rate gets them 987 Bitcoin.
They have 16,500 Bitcoin right now.
That 6% of their Bitcoin NAV... added in ONE DAY... not including ASST issuance.
ASST shareholders are going to get incredibly rich IMHO.
WHAT A BRILLIANT MODEL.
And daily dividends aren't even here yet.
I am already a shareholder and own call options and even then I'm still getting FOMO.
TOTAL STRIVE DOMINATION:
The irony is incredible. Bitcoin Treasury Companies originally competed on who could create the MOST volatility and convexity.
Now $SATA is showing the real unlock may be:
removing volatility almost entirely. A stable $100.00 corridor that quietly accumulates 100s to 1000s of BTC per week may ultimately be more powerful than explosive mNAV speculation.
@Strive Bullish for $ASST