RebelOfBabylon

Trading Crypto. There is always another wave coming 🏄‍♂️.

[Charlie Bilello @charliebilello]

Insanity: with a market cap of $2.96 trillion, SpaceX just passed Microsoft to become the 4th largest company in the world.

Microsoft Sales: $318 billion
Microsoft Net Income: $125 billion

SpaceX Sales: $19 billion
SpaceX Net Income: -$9 billion

[RebelOfBabylon @ISeekAlpha]

@HedgieMarkets Spacex is basically a one man show, its corporate governance is basically whatever Elon wants.

[RebelOfBabylon @ISeekAlpha]

@infraa_ Many early investors will be hedging via puts so there is also a potential downside gamma squeeze in play here.

[RebelOfBabylon @ISeekAlpha]

@MilkRoadMacro If the market is only modestly efficient, that information is already priced in.

[RebelOfBabylon @ISeekAlpha]

@LynAldenContact @ghosh121 @WalterS72474549 @jameslavish https://t.co/gy0hVncqsE
Keeps adding to that long list.

[Elon Musk @elonmusk]

@JonErlichman I think SpaceX might be able to reach approximately $1T revenue in 2030

[Lyn Alden @LynAldenContact]

@jameslavish Big fan of SpaceX. Most of the leftists
screeching against it are off-base.

It’s also wildly overvalued. From a fundamental analyst perspective at 100x sales it makes no sense.

But Tesla at 15x sales and 3 years is no growth doesn’t make sense, either.

Can’t short the vibes.

[RebelOfBabylon @ISeekAlpha]

Strategy back to buying $BTC. Issued 181M of common stock.

[Michael Saylor @saylor]

Strategy has acquired 1,550 BTC for $101 million to increase our $BTC Reserve to ₿845,256. We have also increased our USD Reserve by $100 million to $1.0 billion. $MSTR $STRC https://t.co/1Zf1AVsP1H

[RebelOfBabylon @ISeekAlpha]

Only 6M outflow from $ETH etfs on Friday. Interesting.

[Farside Investors @FarsideUK]

𝗘𝘁𝗵𝗲𝗿𝗲𝘂𝗺 𝗘𝗧𝗙 𝗙𝗹𝗼𝘄 (𝗨𝗦$ 𝗺𝗶𝗹𝗹𝗶𝗼𝗻) – 2026-06-05

TOTAL NET FLOW: -6

ETHA: -13.2
ETHB: 4
FETH:
ETHW: 0
TETH: 0
ETHV:
QETH: 0
EZET: 0
ETHE: 3.2
ETH: 0

[RebelOfBabylon @ISeekAlpha]

@cameron All of that is true but if there is no credible way to find out how much $ZEC is out there I'm sorry but the asset is dead.

[RebelOfBabylon @ISeekAlpha]

@sassal0x top level trolling.

[Lorenzo Valente @LorenzoARK]

A few thoughts on @BitMNR and its preferred offering 🧵

This has clearly been in the works for a while, but the timing is actually very interesting.

STRC proved you can raise fixed-income-chasing capital at scale. If you're paying 9.5%/yr and ETH gives you ~3% native staking yield, the implicit bet is just that ETH compounds >6.5% CAGR. That's not a bold ask, especially in a market where ETH is alreayd down 60%+

The offering is $300M → ~$28.5M/yr in dividends to service.
@BitMNR holds ~5.4M ETH today. Add the ~200k ETH they'll buy with proceeds → call it 5.6M ETH, roughly a $10B treasury at spot.

At 3% staking yield, that's ~$300M/yr in revenue.
The dividend is less than 10% of that.
Even in a bear case where ETH crashes to $600, they're still generating ~$100M/yr: 3.5x the dividend obligation.

So from a pure coverage ratio standpoint, they could probably raise $1B in preferred and still sleep at night.
The deeper point: if mNAV is compressed below 1x, preferred is the only intelligent capital raise. You're not issuing dilutive common at a discount to NAV, you're issuing fixed-cost debt-like paper and buying the dip with it.
And unlike @Strategy, @fundstrat is accumulating ETH at much more attractive average prices. The cost basis story here is meaningfully better than Strategy's BTC entry points were.

@fundstrat is going to buy the dip aggressively. The structure supports it. The timing might too.

[RebelOfBabylon @ISeekAlpha]

This is clearly bullish for $ETHBTC. Strategy is maxed out and will probably have to pause purchases for a while, if not actually become a net seller. @BitMNR , on the contrary, is just getting started, and they have over $200 million in annual staking profits to support the dividend. $BMNR

[zoomer @zoomerfied]

[ ZOOMER ]

BITMINE FILES FOR PREFERRED STOCK OFFERING OFFERING A YIELD OF 9.5%: FILING

[RebelOfBabylon @ISeekAlpha]

@Cointelegraph "I did it again."

[RebelOfBabylon @ISeekAlpha]

As expected.

[RebelOfBabylon @ISeekAlpha]

@CoinMarketCap Translation: "Please be my exit liquidity"
https://t.co/xquzy8fpJF

[Thomas Perfumo, CFA | thomasp.eth 🐒 @ThomasPerfumo]

https://t.co/xlBhVeKA0Q

[RebelOfBabylon @ISeekAlpha]

@ThomasPerfumo Great analysis. Thanks for sharing.

[RebelOfBabylon @ISeekAlpha]

@EricBalchunas That's good to know. Crypto natives will be the quickest to return once the four-year cycle and halving narrative kick back in, likely in about a year.

[Eric Balchunas @EricBalchunas]

The boomers aren't your problem btw, neither is Saylor. If it weren't for them bitcoin would be REALLY in the sht. Think about it: They are net net $150b of buying (even with the outflows which are pretty tiny tbh). Price was at $125k. ETFs barely saw outflows. Saylor bought more. And yet here we are. Forget the boomers, someone needs to 'call the OGs' - they are behind this.

[RebelOfBabylon @ISeekAlpha]

@Cointelegraph Do yourself a favor and add -"peter schiff" to all X searches

[RebelOfBabylon @ISeekAlpha]

@MarioNawfal