TigerRad

[TigerRad @TigerRad0]

@jeffcharlesjr Wtf is weird about this?

[TigerRad @TigerRad0]

@AdamBLiv @chcbearsfan See this from today

[Andrew Webley @asjwebley]

At @smarterwebuk we think "mNAV" creates confusion and non-standardisation.

To date, treasury companies have used varying definitions of "mNAV."  For the numerator, some use Market Cap while others use Enterprise Value.  For the denominator, some use Net Asset Value while others use Total BTC Value - often while calling it "BTC NAV" rather than something more accurate like "Gross BTC Value."

In tradfi, "mNAV" typically means Market Cap / Net Asset Value, resulting in a multiple of NAV.  The typical "mNAV" for a BTCTC includes neither this numerator nor denominator!

In our view, this non-standardisation can create confusion, which becomes more problematic when debt or preferred equity obligations are introduced, making comparisons between treasury companies less meaningful.

For this reason, we are shifting our analytics to a more specific metric that will be more informative and precise to institutional audiences.  Our analytics dashboard now shows "Fully Diluted EV vs. BTC Value" which is calculated as = (Fully Diluted Enterprise Value) / (Total BTC Holdings * Current BTC Market Price).

We think this is a much better metric to evaluate the current value of a Bitcoin treasury company, as it more completely and transparently accounts for the real economic impact of debt, cash, warrants, options and all other instruments.  We think that it is important to also consider amplification or leverage and then perhaps most importantly the Bitcoin per share change over different time periods (Bitcoin Yield) and understanding how this can continue into the future.

If Bitcoin treasury companies are going to become a recognised asset class, the industry needs transparent and consistent standards. And analytics that institutional investors can immediately understand.

Over the next few months, we will make further changes to our analytics dashboard, alongside working with others in the space, to try and improve consistency between different approaches.

LSE: #SWC | OTCQB: $TSWCF | FRA: $3M8

[TigerRad @TigerRad0]

@sumokyokai I have the feeling this time he will make a good run at Yokozuna. He has always had what it takes, just needs to stay healthy. Thrilled to see him doing well.

[TigerRad @TigerRad0]

@paramountplus Post the entire event. You’ve eliminated all the flavor and personality of the league by cutting walkouts and interviews etc. Giant step backwards. @danawhite

[TigerRad @TigerRad0]

@BobMurphyEcon @PerBylund Yarvin is a big time rambler. This one is mostly in the first 30-40 mins.

[TigerRad @TigerRad0]

Would like to hear @BobMurphyEcon or @PerBylund respond to the critiques of Austrians in this podcast

[Peter McCormack 🏴‍☠️🇬🇧🇮🇪 @PeterMcCormack]

🚨 New Episode

In this episode @ProfSteveKeen argues modern economics became ideology, not science and that bad models led to bad policy and long-term decline.

Links to full episode in 🧵

[TigerRad @TigerRad0]

@BobMurphyEcon @PerBylund Sorry so vague, didn’t realize how long this is haha

[TigerRad @TigerRad0]

@BobMurphyEcon @PerBylund Eh, kind of several times all throughout. Mainly something to do with Austrian theory being too introspective and not in touch with reality.

[Peter McCormack 🏴‍☠️🇬🇧🇮🇪 @PeterMcCormack]

🚨 New Episode

In this episode @ProfSteveKeen argues modern economics became ideology, not science and that bad models led to bad policy and long-term decline.

Links to full episode in 🧵

[TigerRad @TigerRad0]

@AngelaBelcamino It’d be more inspiring if you’d pronounce his name correctly

[TigerRad @TigerRad0]

@BelgraviaBLGV Ummm…did I just hear the leaders of the company ask what the ASICs is doing for layer two? And there is a “break between blocks” when the miners can be used for other stuff? Am I taking crazy pills?

[TigerRad @TigerRad0]

@WallStreetApes The real crisis is young women trashing their own beauty with disgusting piercings

[TigerRad @TigerRad0]

@SaraForTexLege @Blacknatwatch “We will improve thing by removing profit”. What could possibly go wrong.

[TigerRad @TigerRad0]

@ChaseForLiberty It’s always “folks”

[TigerRad @TigerRad0]

@WalkerAmerica @titcoinpodcast THIS CHANGES EVERYTHING

[TigerRad @TigerRad0]

@EverythingRebs The irony of this petulant whining cry bully telling someone to “own it” and have “poise calmness and tolerance” is truly amazing. Fantastic job by those guys getting to the CWS final with this as their coach.

[TigerRad @TigerRad0]

@JakeCrain_ “Poise, calmness and tolerance” wow this is dripping with irony and he seems totally unaware

[TigerRad @TigerRad0]

@gccabinets @NashTalksTexas Too bad it wasn’t being a head coach with poise, class, and respect for the setting day.

[TigerRad @TigerRad0]

@Jerematic79 Sounds like the radiologist didn’t have access to the 2024 scan (and/or wasn’t told it existed). Was it done at a different facility? We can only compare to the priors we have. Everyone needs to understand the critical importance of supplying priors. It can be life or death.

[TigerRad @TigerRad0]

@aganstwallst @saylor Your time preference is showing