Them Byzantine generals don’t know what hit ‘em (I would know; I’m valedictorian of my class)
Joined June 2025
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NVDA PUT hedge - part 3
First: The methodology for choosing DTE/strike has been refined. Intel crashed in 2001 after several strong quarters followed by a mid-quarter guidance cut. Something similar will happen to $NVDA at some point, but it’s hard to know if it will be this quarter, next quarter, or the one after, etc.
A DTE of 673 has the best balance of preserving gains and pushing the allowable crash start to later quarters. A 673 DTE gets us to the next 5 NVDA earnings reports, and preserves an 8x return on investment in a 70% drawdown. This is the DTE I have chosen for this hedge.
I don’t think it will take 5 earnings reports, but the longer dated PUTs de-risk the hedge and set up my portfolio to be hedged against the AI bubble for two years, with still outsized returns if and when the NVDA crash transpires
Second: position size of this hedge has increased from ~$2k to ~12k. I plan to add a little bit more over time.
All of this is in the context of the rest of my portfolio being in Bitcoin and Bitcoin treasuries.
After running numerous Montecarlo simulations, I decided to shift towards longer-dated PUTs
I still have 2 short-dated contracts to close and turn into a longer-dated contract
My aim is to increase investment in this position by a factor of 10 (about $20k investment)
$NVDA cannot continue posting the results it has. There is no profit downstream, just massive costs
There is a possibility of prolonged market irrationality and I am working on a method to retain upside of this strategy for up to 3 years of market irrationality. The initial backtests and Monte Carlo simulations are promising (this is part of the reason to shifting to longer-dated PUTs).
Even so, I don’t think it will take remotely that long for the market to correct. The money-spicket is dry.
One caveat I want to make to all of this is that the one possibility this bet doesn’t account for is massive money printing and cheap debt if the Fed turns rates to 0 again. I have substantial exposure to Bitcoin treasuries which would print in such an environment, and so the loss of this NVDA bet would be acceptable. Still, even in such an environment, I don’t see AI staying afloat for 3 years.
A new milestone in Digital Credit was reached very quietly today.
No fanfare like STRC reaching par again, or SATS being issued, but it is possibly the most impressive.
The first ever sub-8% Digital Credit cost of capital was accomplished today by @BitcoinTCAB.
Few
New record low for Digital Credit cost of capital just achieved by @BitcoinTCAB!
BTC PREF just hit 7.8% yield, down from the previous record low of 8.05%
The first ever sub-8% cost of capital in Digital Credit history.
For all of you complaining about Strive’s cost of capital, you may be interested in this company.
New record low for Digital Credit cost of capital just achieved by @BitcoinTCAB!
BTC PREF just hit 7.8% yield, down from the previous record low of 8.05%
The first ever sub-8% cost of capital in Digital Credit history.
For all of you complaining about Strive’s cost of capital, you may be interested in this company.
Another digital credit yield record set by @BitcoinTCAB
8.05% yield compared to a previous low of 8.3%
Where is the ATM @ChristofferDG and @Topias_21 ? 😂
It’s sleep apnea, bro
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If only @Trading212 supported trading of MORE, then they’d have an even better rating on @Trustpilot
₿osu, GED (Valedictorian) retweeted
$MORE Day 8: traded 3,187 shares worth £293,000 today, equal to 2.9% of shares issued.
13,812 shares worth £1.3m traded this week, 12.4% of shares issued.
Closing mid price was £93.50
Week 2 complete. MORE progress.
LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8
$MORE Day 7: traded 2,347 shares worth £219,056 today, equal to 2.1% of shares issued.
That's 101% higher than yesterday. 10,625 shares worth £1.0m traded so far this week, 9.6% of shares issued.
Closing mid price was £93.50.
Double the volume, MORE progress.
LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8
Another digital credit yield record set by @BitcoinTCAB
8.05% yield compared to a previous low of 8.3%
Where is the ATM @ChristofferDG and @Topias_21 ? 😂
BTC PREF hitting a record 144.5 krona today
8.3% yield
User adoption according to Nordnet and Avanza keeps climbing steadily
Sub 1 mNAV market buybacks likely beginning on 12/5
Calling it right now: @BitcoinTCAB is one of three candidates for fastest horse of the next cycle
₿osu, GED (Valedictorian) retweeted
$MORE Day 6: traded 1,169 shares worth £109,000 today, equal to 1.1% of shares issued.
Over 10% of shares issued have now traded since launch.
Closing mid price was £93.20.
Making MORE progress.
LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8
₿osu, GED (Valedictorian) retweeted
Last Wed-Fri, Strive acquired 1,223 BTC at an average cost of $81,734 per bitcoin, bringing holdings to ₿36,818.
- SATS IPO proceeds settle this Tuesday
- Strive plans to maintain current 18-month dividend reserve
- Traditional warrants are expired
$ASST $SATA $SATS
₿osu, GED (Valedictorian) retweeted
I am looking at you right now.
Please list and trade MORE
🟡 @BarclaysUK
🔴 @Trading212Help
🔴 @eToro
🔴 @Fidelity_UK
🔴 @freetrade
Keep up and get with the programme - investors want MORE.
🤖 Made with AI
₿osu, GED (Valedictorian) retweeted
Monday morning update: MORE broker availability👇
Good morning everyone. Thank you for all your effort last week, 8 of 13 brokers are now green. This week's priorities are Barclays going live, and Trading 212. Here's where things stand:
🟢 Hargreaves Lansdown: live on the HL website and app. You may need to complete the complex product questionnaire first
🟢 Interactive Investor: live and trading online. Some accounts need a quick appropriateness assessment first
🟢 IG: live, including ISAs
🟢 AJ Bell: live, and "MORE" shows up in search.
🟢 Lloyds, Halifax and Bank of Scotland Share Dealing: available to buy
🟢 Redmayne Bentley: MORE is now set up
🟢 Charles Stanley: live. Online orders going through
🟢 Interactive Brokers (IBKR): live. The app can still show the market as closed during trading hours, so stick with it or use a limit order. Please can someone confirm whether this has changed or not today?
🟡 Barclays: accepted and due to be added by the middle of this week. Barclays customers, please check and let us know when you can buy
🔴 Trading 212: not available yet. Requests are being forwarded for review, and with IBKR now live, keep asking!
🔴 eToro: not listed yet. Requests raised
🔴 Fidelity: not listed yet. Please keep chasing
🔴 Freetrade: not listed yet
🔎 Search tip: if your broker doesn't find "MORE", search by the ISIN GB00C0HJ0D12 instead.
Brokers respond to demand. Message them, email them, raise it on their forums, and keep asking until the answer changes. Every request turns another light green.
Let's make this another fantastic week.
LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8
₿osu, GED (Valedictorian) retweeted
MORE, from @smarterwebuk, started trading on the Main Market of the @LSEplc this week.
This is the first preferred share, from a Bitcoin treasury company, listed on a main market, outside of the US.
Visit our website to find out more about MORE: smarterwebcompany.co.uk/more…
Thanks to @aw_smarterwebuk for mocking up the image with a little help from AI!
LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8
It certainly is a little odd.
We raised this with the @LSEplc team on Wednesday and Thursday, having discovered that the venue was not, in fact, closed for refurbishment as we had previously been told.
We also took the opportunity to remind them that we have raised a meaningful amount of capital to build an innovative business, and made a deliberate decision to list our equities in London.
Our Ordinary Shares trade well, MORE has got off to a good start, we employ around 35 people in Britain, and we believe we are building a genuinely exciting British business. We are also using the capital markets for precisely what they were designed to do: raise capital, invest in growth and, above all, put shareholders at the heart of our decisions.
It is therefore a little disappointing that what we are doing seems to attract so little recognition from the LSE or the mainstream financial media. Surely this is exactly the sort of business and success story that London's capital markets and traditional media should be championing?
That said, the LSE did manage to send us a rather substantial invoice earlier today!
₿osu, GED (Valedictorian) retweeted
@LSEplc do a post about SWC MORE so the internet can light up.
🇬🇧🟠🇬🇧🟠🇬🇧🟠
@LSEplc you have a few questions to answer.
I’ve been gently asking for you to profile Smarter Web’s MORE for several days now, with no reply yet. Perhaps it’s happening today?
Look forward to your response to Andrew’s comments below. 👇
₿osu, GED (Valedictorian) retweeted
Friday morning update: MORE broker availability tracker ☀️👇
Good morning everyone, and thank you for another big push yesterday. AJ Bell has now confirmed by phone that MORE is live to buy in the app. Our priorities are now chasing the rest . In particular IBKR and Trading 212. Here's where things stand:
🟢 Hargreaves Lansdown: live on the HL website and app. You may need to complete the complex product questionnaire first
🟢 Interactive Investor: live and trading online. Some accounts need a quick appropriateness assessment first
🟢 IG: live, including ISAs
🟢 AJ Bell: live in the app.
🟢 Lloyds, Halifax and Bank of Scotland Share Dealing: available to buy
🟢 Redmayne Bentley: MORE is now set up
🟡 Interactive Brokers (IBKR): MORE showing in the IBKR app with quotes, trading not yet confirmed. Has anyone placed a trade?
🔴 Trading 212: not available yet. T212 relies on IBKR, so this could change soon. Keep asking!
🔴 eToro: not listed yet. Requests raised
🔴 Barclays: not listed yet. They say they won't list until clients request it, so please ask
🔴 Charles Stanley: not available yet. Please ask
🔴 Fidelity: not listed yet
🔴 Freetrade: not listed yet
🔎 Search tip: if your broker doesn't find "MORE", search by the ISIN GB00C0HJ0D12 instead.
Brokers respond to demand. Message them, email them, raise it on their forums, and keep asking until the answer changes. Every request turns another light green.
Let's have a big push today before the weekend!
LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8
₿osu, GED (Valedictorian) retweeted
Hey @LSEplc, it’s time to start shouting about the real momentum on your Main Market.
In a frozen year with only 8 total IPOs, a single company
$SWC The Smarter Web Company
is responsible for a staggering 25% of them
2 out of 8 IPOs: $SWC & $MORE.
Pulling off a quarter of London's entire listing volume in this climate is a historic, powerhouse achievement.
Let’s spread real, positive UK British innovation! 🚀💪🏼🟠🇬🇧
₿osu, GED (Valedictorian) retweeted
Through Tuesday, Strive acquired an additional 2,822 BTC for $235M, increasing holdings to ₿35,595.
- 13.7M of 15.3M remaining warrants exercised, worth $369M in gross proceeds
- 94% of traditional warrants exercised in aggregate
- Amplification ratio: 47%
$ASST $SATA $SATS
Exciting development. Early days.
In ten years, when people ask how easy it must have been to get in early to Smarter Web, you can remember the days when the investor community was bootstrapping liquidity on exchanges.
Early startup days in a garage type vibes. And we all know where it’s going.
If you hold MORE shares with either of these brokers, or are considering investing, please contact them and make your interest known.
It's a classic chicken-and-egg situation: brokers, market makers and investors all need to participate to build liquidity in a newly listed equity.
As we saw following our initial listing in April 2025, retail platforms respond to customer demand.
The more investors who ask, the stronger the case for support!
After these main brokers (i.e. HL & AJ Bell) are active other brokers (e.g. Barclays, trading212, Fidelity, etc) will start to switch it on also, although that may also need some client pressure.
LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8
₿osu, GED (Valedictorian) retweeted
If you hold MORE shares with either of these brokers, or are considering investing, please contact them and make your interest known.
It's a classic chicken-and-egg situation: brokers, market makers and investors all need to participate to build liquidity in a newly listed equity.
As we saw following our initial listing in April 2025, retail platforms respond to customer demand.
The more investors who ask, the stronger the case for support!
After these main brokers (i.e. HL & AJ Bell) are active other brokers (e.g. Barclays, trading212, Fidelity, etc) will start to switch it on also, although that may also need some client pressure.
LSE: #SWC #MORE | OTCQB: $TSWCF | FRA: $3M8
