Kakapo Coder

[Kakapo Coder @kakapo_coder]

@ZynxBTC Well, you only need the trading at the margin to be like this. I for one am enjoying the sales on ASST and MSTR.

[Kakapo Coder @kakapo_coder]

"according to a source familiar with the matter" 🙄

And then literally a paragraph later:

"It is aiming for a valuation of $1.75 trillion, two other people said."

And to me it reads like the share price is not actually given by the source, but rather that SpaceX "plans to sell 555.6 million shares" as part of the IPO. Then the reporter did the lazy thing and took $75B / 555.6 million shares to get to $135.

I can imagine that the source could have meant: "up to 555.6 million shares" or that the target raise could be $80B ($144/share) instead of $75B to get to the minimum share price for a $1.75T valuation.

Let's see what @elonmusk thinks :-)

[Kakapo Coder @kakapo_coder]

🚨 Strive, Inc. (ASST) 8-K Filing (June 2, 2026):

• Bought 2,500 BTC from May 23–June 1 at avg. $74,092
• Bitcoin treasury now: 19,000 BTC (↑ from 16,500)
• Cash position: $137.3 million
• STRC Preferred (Strategy Inc.): $49.5M (↓ $0.6M)

Equity updates:
• Class A Common: +3.19M shares
• Class B Common: -90.6K shares
• SATA Preferred: +1.75M shares

https://t.co/ddiEDXS9uo

Aggressive BTC accumulation continues. #Bitcoin #ASST
@ColeMacro @PunterJeff @Werkman @btc_overflow @ZynxBTC @AdamBLiv

[Kakapo Coder @kakapo_coder]

Oh my... $SATA returning to par pretty quickly, its overtaking $STRC, clearly the market did not like the rate staying at 11.5% (nor the current Bitcoin weakness). Let's see how long it takes, but this month could once again be a good run for $SATA.

As long as retail is the primary buyer, these rates will matter. Honestly, Strategy not raising the rate is likely a good choice, their aim is to get S&P rating improvement to unlock the big bucks. Increasing the rate may work against them on that note. That being said, Bitcoin isn't always at such a discount :-)

@AdamBLiv @ZynxBTC @PunterJeff @Werkman @btc_overflow

[Kakapo Coder @kakapo_coder]

@AdamBLiv As someone else pointed out... they sold 704 Bitcoin back in December of 2022... so lol....

https://t.co/jIf4N9LGQy

[Kakapo Coder @kakapo_coder]

@AdamBLiv As someone else pointed out... they sold 704 Bitcoin back in December of 2022... so lol....

https://t.co/jIf4N9LGQy

[Kakapo Coder @kakapo_coder]

So, looks like there is indeed the regular monthly sell-off still for $SATA I was too bullish on this. Let's see how it looks as we head towards the 16th and the start of daily dividends.

https://t.co/atFC9bBz7G

@btc_overflow @nithusezni @ZynxBTC @AdamBLiv

[Kakapo Coder @kakapo_coder]

Hey... did you notice? $SATA is still at $100 after hours.... on the ex dividend date.... this has never happened before. This means the ATM continues next Monday folks...

@AdamBLiv @ZynxBTC @btc_overflow

[Kakapo Coder @kakapo_coder]

@calvinfroedge So, even at these elevated rates of draw downs on reserves, don't they still all have at least 3 months left? It's a long time to stay wrong... But perhaps in 2 months it's a good time to short?

[Kakapo Coder @kakapo_coder]

@mikewmunz This is the last time we might see it, in two weeks time it will be daily dividends time 😀 but we may still see some wobble in SATA in the run up to STRC ex dividend days.

[Kakapo Coder @kakapo_coder]

Actually, you must "own" it before regular market close on ex dividend date which is Monday. However, due to T+1 settlement, what this really means is that the share has to settle by that time which means your last chance to get in is the day before (Friday) up to some time post regular market close but likely different for each broker (they need to forward the ownership information each day and each has their own schedule). After that you are free to sell since you will still be owner of record for the ex dividend date. This is why we have seen sell offs in after hours on the day before ex dividends in the past. See example from April/May period in the screenshot.

[Kakapo Coder @kakapo_coder]

Hey... did you notice? $SATA is still at $100 after hours.... on the ex dividend date.... this has never happened before. This means the ATM continues next Monday folks...

@AdamBLiv @ZynxBTC @btc_overflow

[Kakapo Coder @kakapo_coder]

@mikewmunz Although... Because of T+1 mechanics, perhaps Friday was already the last day to "get in" for the ex dividend date?

[Kakapo Coder @kakapo_coder]

@mikewmunz Ah good catch! So all eyes on Monday then.

[Kakapo Coder @kakapo_coder]

Something tells me you are not quite correct. I tried getting @grok to figure it out and it cited a 5pm New York time as a cut off for record holder determination. Also given T+1 mechanics it can be a bit messy. My only comparison is previous ex dividend dates where it always started selling off after regular close.

[Kakapo Coder @kakapo_coder]

@AdamBLiv @ZynxBTC @btc_overflow If you look back at history though, the drop always came post market close... So there is hope in my eyes. Let's just hope bitcoin doesn't yeet off a cliff over the weekend and muddy the analysis here.

[Kakapo Coder @kakapo_coder]

@ZynxBTC @AdamBLiv I mean.... at this rate it will take less than 100 days to get there...

[Kakapo Coder @kakapo_coder]

It gets better, if you take out the built-in 0.1 MSTR share in each STRK share, you actually are getting an effective yield of 14.14% on your money (higher than even STRD at 13.99% effective as we speak). So if you plan on holding a mix of MSTR shares and STRD, consider swapping some portion of both into STRK instead to juice some extra yield!