✝️ 👨👩👧👦 ₿ 🥩⚕️🏕️
Arkansas, USA
Joined November 2011
- Tweets2.5K
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- Followers200
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Song 2 retweeted
When I gave this speech in October 2022, Bitcoin traded near $20,000, Strategy held 130,000 BTC worth about $2.6 billion, and $MSTR was ~$24 split-adjusted. Weeks later, after Bitcoin fell below $16,000, our debt exceeded the combined value of our BTC and cash reserves by ~$300 million, and $MSTR fell into the $13 range by year-end.
We stayed focused, strengthened the company, and executed our strategy. Since then, Strategy has raised over $60 billion of additional capital and invested it in Bitcoin, adding more than 716,000 BTC. Today, our BTC and USD reserves exceed debt by ~$48 billion. Thank you to everyone who believed, endured, and took the long view.
Song 2 retweeted
🤖 Made with AI
Incredible.
CEO of company takes time to post a frankly excellent and incredibly thoughtful (and polite) reply to do-nothing worthless Bitcoin podcaster explaining in detail where he is wrong in his financial modeling.
Bitcoin podcaster chimps out and refuses to read it.
I view Bitcoin like oil.
We have on one hand people like @saylor and @colemacro who are like Rockefeller. They recognize the potential of the commodity to revolutionize finance and society, and they are building the future with it.
We also have - unfortunately - ignorant people like Parker, who are like the Beverly Hillbillies of Bitcoin. They stumbled across the commodity by sheer luck, not because there is anything special about them. But they gained a following because they looked like geniuses in retrospect - and they think that it’s like some magic talisman that’s just as valuable sitting in the ground as it is distilled into fractions and distributed across the financial system.
Sadly, these people will only succumb to further derangement as their intellectual capabilities are tapped out trying to understand basic financial math.
Song 2 retweeted
The @mattkratter - @saylor dilution debate looks crypto-native. However, it's the oldest debate in finance.
P/E is incomparable because everyone adjusts earnings. Covenant EBITDA in high yield has been stretched until leverage ratios across issuers aren't the same unit. Every metric ever invented was defined by issuers and it's for investors to criticize and discipline them.
Bitcoin treasury metrics are living that cycle in 18 months, publicly and very transparently - and Saylor deserves full credit for promoting unprecedented transparency, for any public company.
Two separate issues are being mixed. First: different metrics serve different objectives and stakeholders. Bitcoin-per-Share for $MSTR shareholders - quarterly, nobody underwrites on weekly. mNAV vs. the 1.22x breakeven for issuance discipline (1.20x today, which is why BTC Yield fired). Coverage (asset and dividend servicing) for the credit.
@Strategy's raise last week was a credit action - and scoring a credit action with an accumulation metric produces exactly this dispute.
Second: by Saylor's own admission, BTC Yield predates digital credit, i.e., the business model outran the metric. Definitions now diverge by issuer - @jackmallers' out-of-the-money convert point - and that's covenant EBITDA all over again.
The treasury sector is still so young and continues to evolve as the market develops. What matters in the end is continued transparency, and that investors truly understand the metrics, can assess differences between companies and how it impacts each part of the capital stack. We'll get there.
Song 2 retweeted
Michael @saylor does @sircalebhammer 's "Financial Audit" Podcast 😂
Song 2 retweeted
So its a tragedy for this baby to die in a dumpster, but its healthcare if a Dr rips it limb from limb?
Song 2 retweeted
Everyone in the world has to take a private vote by pressing an orange or brown button.
If more than 50% of people press the orange button, we fix the world.
If less than 50% of people press the orange button, the world goes to shit and only people who pressed the brown button survive. Which button would you press?
Song 2 retweeted
As a girls girl, I legitimately enjoy Sabrina Carpenter’s music.
But ngl, she fully deserved this backlash.
She has spent the past few years fueling the toxic online gender wars which has made her curate the most bottom of the barrel horrendous people to her audience…
And those are the exact kind of people who will eat you alive at the moment you even slightly step out of line, or make a joke, or disagree with them on 0.1% of issues.
Actions, meet consequences.
