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Adam Livingston

@AdamBLiv • 84,449 subscribers

The Bitcoin Wizard | Author of The Great Harvest | @BitcoinForCorps | Analysis @Swan | Advisor @saturn_credit | MSTR + MTPLF + ASST HODLER |

Shorts

What happens if Bitcoin goes to $1,000,000 in 8 years and MSTR never issues another senior or preferred share? No new leverage. No new preferred stack. No mNAV expansion. Just Bitcoin going up and the current structure sitting there. At $63.2k BTC: MSTR implied price: ~$95.71 CEBE: ~143,535 sats/share CEBE mNAV: 1.055x At $1,000,000 BTC, with the exact same mNAV: MSTR implied price: ~$2,086 CEBE: ~197,678 sats/share Bitcoin return: 15.8x MSTR return: 21.8x That is ~38% more return than Bitcoin. Why? Because the senior/preferred claim stack is fixed in dollars. As Bitcoin rises, that claim stack collapses in BTC terms: ~310,379 BTC of senior claims today → ~19,616 BTC at $1M Bitcoin The common equity absorbs the difference. This is what you are getting in exchange for paying the STRC dividends. AMPLIFICATION of BITCOIN. This is what the market keeps missing. MSTR does not need the multiple to expand to outperform Bitcoin. It can outperform because fixed-dollar claims get nuked in Bitcoin terms. CEBE is the lens. Bitcoin is the detonator:

What happens if Bitcoin goes to $1,000,000 in 8 years and MSTR never issues another senior or preferred share? No new leverage. No new preferred stack. No mNAV expansion. Just Bitcoin going up and the current structure sitting there. At $63.2k BTC: MSTR implied price: ~$95.71 CEBE: ~143,535 sats/share CEBE mNAV: 1.055x At $1,000,000 BTC, with the exact same mNAV: MSTR implied price: ~$2,086 CEBE: ~197,678 sats/share Bitcoin return: 15.8x MSTR return: 21.8x That is ~38% more return than Bitcoin. Why? Because the senior/preferred claim stack is fixed in dollars. As Bitcoin rises, that claim stack collapses in BTC terms: ~310,379 BTC of senior claims today → ~19,616 BTC at $1M Bitcoin The common equity absorbs the difference. This is what you are getting in exchange for paying the STRC dividends. AMPLIFICATION of BITCOIN. This is what the market keeps missing. MSTR does not need the multiple to expand to outperform Bitcoin. It can outperform because fixed-dollar claims get nuked in Bitcoin terms. CEBE is the lens. Bitcoin is the detonator:

102,567 views

Strategy. 640,808 Bitcoin. Total acquisition cost $47.7 billion. Acquired at an average of $74k per coin. From ZERO to $71.3 billion of Bitcoin in 5 years. I cannot fathom being bearish on this company.

Strategy. 640,808 Bitcoin. Total acquisition cost $47.7 billion. Acquired at an average of $74k per coin. From ZERO to $71.3 billion of Bitcoin in 5 years. I cannot fathom being bearish on this company.

2,253,903 views

Want to know something MIND BLOWING? Warren Buffett bought $183 BILLION in T-Bills in Q3 2025. Michael Saylor bought 42,706 Bitcoin in Q3 2025. Those T-Bills will lose value at ~2% per year with 6% M2 money supply inflation. Even with we adjust the PURCHASING POWER DESTRUCTION of the US Dollar, and settle with a REAL 24% Bitcoin CAGR... This is the result of Saylor's Q3 Bitcoin buys vs. Buffett's Q3 T-Bill buys. Buffett's net worth will be a footnote next to Saylor's.

Want to know something MIND BLOWING? Warren Buffett bought $183 BILLION in T-Bills in Q3 2025. Michael Saylor bought 42,706 Bitcoin in Q3 2025. Those T-Bills will lose value at ~2% per year with 6% M2 money supply inflation. Even with we adjust the PURCHASING POWER DESTRUCTION of the US Dollar, and settle with a REAL 24% Bitcoin CAGR... This is the result of Saylor's Q3 Bitcoin buys vs. Buffett's Q3 T-Bill buys. Buffett's net worth will be a footnote next to Saylor's.

1,130,755 views

You will learn CEBE because it is the future. Trust the math. Not feelings. $MSTR $BTC

You will learn CEBE because it is the future. Trust the math. Not feelings. $MSTR $BTC

47,218 views

🚀ASST TO $700 PER SHARE?!?🚀 YOU THINK I'M JOKING? THINK AGAIN, BUCKO. Current ASST snapshot: BTC holdings: 15,000.5 BTC BTC price: $80,593 Bitcoin NAV: $1.21B Total debt: $10M Preferred outstanding: $495.95M Debt + preferred: $505.95M Amplification ratio: 41.9% Current stock price: $15.85 Now here’s the model, and this isn't MOONBOY NONSENSE, kids. This is with Bitcoin at $750k in 2036, not $1 million in 2034. ASST maintains their current 41.9% amplification ratio for 10 years. Translation for normal people: For every $1.00 of Bitcoin NAV, ASST keeps roughly $0.419 of senior claims through debt/preferred financing. The bears hear that and immediately start sweating through a Men’s Wearhouse suit. But this is the actual machine. As Bitcoin rises, the Bitcoin NAV rises. When the NAV rises, the old preferred stack becomes smaller relative to the treasury. So ASST issues more SATA to keep amplification at 41.9%. That new SATA capital buys more Bitcoin. Then Bitcoin goes up again. Then the NAV goes up again. Then the amplification ratio drops again. Then they issue more SATA again. Then they buy more Bitcoin again. This is how you turn a balance sheet into a legally registered orange crocodile. Now we add the funding mix: 75% of new Bitcoin accumulation comes from SATA. 25% comes from issuing common stock. And the common stock is issued at 1.2x EV mNAV. Meaning they are selling equity at a 20% premium to the enterprise value of the Bitcoin stack. That matters. Because issuing common below NAV is financial self-harm. Issuing common above NAV is accretive treasury sorcery. Now assume Bitcoin compounds at 25% per year for 10 years. BTC price goes from: $80,593 today to roughly: $750,579 in year 10 That is a 9.3x move in Bitcoin. Now what happens to ASST? Starting BTC stack: 15,000.5 BTC Projected year 10 BTC stack: 143,425 BTC That is 9.6x more Bitcoin. Starting Bitcoin NAV: $1.21B Projected year 10 Bitcoin NAV: $107.65B That is 89x larger. Now the bears will say: “BUT THE PREFERREDS!” Yes, Carl. The preferreds are the point. Senior claims rise from $505.95M to $45.11B because the model intentionally keeps amplification at 41.9%. That sounds terrifying until you remember the Bitcoin NAV grew to $107.65B. The stack got bigger. The senior claims got bigger. The common equity claim got bigger too. This is where CEBE comes in. CEBE = Common Equity Bitcoin Exposure. It answers the only question that matters: After debt and preferred holders get their claim, how much Bitcoin exposure does the common shareholder really own? Today: Gross BPS: 20,222 sats CEBE/share: 11,759 sats Year 10: Gross BPS: 95,380 sats CEBE/share: 55,416 sats That means common-equity Bitcoin exposure per share rises about 4.7x. Even after common issuance. Even after maintaining the preferred stack. Even after the bears finish their sacred ritual of screaming “DILUTION” into a spreadsheet they opened sideways. Now the share count. Current implied diluted shares: 74.2M Projected year 10 shares: 150.4M So yes, the share count roughly doubles in this model. But the Bitcoin stack goes 9.6x. This is the entire game. If Bitcoin holdings grow much faster than shares outstanding, the common shareholder’s Bitcoin exposure goes up. The bears think all issuance is bad because they learned finance from a Yahoo message board during a divorce. The actual question is: Does issuance increase Bitcoin per share after senior claims? In this model, yes. Now the stock price. Strict 1.2x EV mNAV model gets ASST to about: $559/share But if we anchor the model to today’s actual ASST price of $15.85, the same growth path gets you to roughly: $696/share Call it $700. There it is. ASST to $700 per share is not “vibes.” It is a model. BTC compounds at 25%. SATA funds 75% of accumulation. Common funds 25% at 1.2x EV mNAV. Amplification stays at 41.9%. BTC stack grows from 15,000 BTC to 143,425 BTC. Bitcoin NAV goes from $1.21B to $107.65B. CEBE/share goes from 11,759 sats to 55,416 sats. The stock goes from $15.85 to roughly $700. This is why small Bitcoin treasury companies are so insane. Strategy is the Death Star. ASST is the weird little orange lab experiment in the basement where someone accidentally discovers corporate finance methamphetamine. Tiny denominator. Preferred financing. Bitcoin accumulation. Premium equity issuance. CEBE expansion. A compounding treasury loop. The bear case is that dilution kills the common. The bull case is that accretive dilution plus preferred financing creates a Bitcoin-per-share machine that eats capital markets and leaves behind a pile of traumatized short sellers asking why their model still says “book value.” ASST to $700? If the machine works, yes. If Bitcoin does 25% CAGR, absolutely possible. If SATA scales and common gets issued above NAV, the goblin gets fed. And once the goblin gets fed, the spreadsheet starts looking like it was written by Saylor, Dylan LeClair, and a sleep-deprived Austrian economist locked inside a treasury dashboard with three Celsius energy drinks. This is not financial advice. This is FINANCIAL ENTERTAINMENT:

🚀ASST TO $700 PER SHARE?!?🚀 YOU THINK I'M JOKING? THINK AGAIN, BUCKO. Current ASST snapshot: BTC holdings: 15,000.5 BTC BTC price: $80,593 Bitcoin NAV: $1.21B Total debt: $10M Preferred outstanding: $495.95M Debt + preferred: $505.95M Amplification ratio: 41.9% Current stock price: $15.85 Now here’s the model, and this isn't MOONBOY NONSENSE, kids. This is with Bitcoin at $750k in 2036, not $1 million in 2034. ASST maintains their current 41.9% amplification ratio for 10 years. Translation for normal people: For every $1.00 of Bitcoin NAV, ASST keeps roughly $0.419 of senior claims through debt/preferred financing. The bears hear that and immediately start sweating through a Men’s Wearhouse suit. But this is the actual machine. As Bitcoin rises, the Bitcoin NAV rises. When the NAV rises, the old preferred stack becomes smaller relative to the treasury. So ASST issues more SATA to keep amplification at 41.9%. That new SATA capital buys more Bitcoin. Then Bitcoin goes up again. Then the NAV goes up again. Then the amplification ratio drops again. Then they issue more SATA again. Then they buy more Bitcoin again. This is how you turn a balance sheet into a legally registered orange crocodile. Now we add the funding mix: 75% of new Bitcoin accumulation comes from SATA. 25% comes from issuing common stock. And the common stock is issued at 1.2x EV mNAV. Meaning they are selling equity at a 20% premium to the enterprise value of the Bitcoin stack. That matters. Because issuing common below NAV is financial self-harm. Issuing common above NAV is accretive treasury sorcery. Now assume Bitcoin compounds at 25% per year for 10 years. BTC price goes from: $80,593 today to roughly: $750,579 in year 10 That is a 9.3x move in Bitcoin. Now what happens to ASST? Starting BTC stack: 15,000.5 BTC Projected year 10 BTC stack: 143,425 BTC That is 9.6x more Bitcoin. Starting Bitcoin NAV: $1.21B Projected year 10 Bitcoin NAV: $107.65B That is 89x larger. Now the bears will say: “BUT THE PREFERREDS!” Yes, Carl. The preferreds are the point. Senior claims rise from $505.95M to $45.11B because the model intentionally keeps amplification at 41.9%. That sounds terrifying until you remember the Bitcoin NAV grew to $107.65B. The stack got bigger. The senior claims got bigger. The common equity claim got bigger too. This is where CEBE comes in. CEBE = Common Equity Bitcoin Exposure. It answers the only question that matters: After debt and preferred holders get their claim, how much Bitcoin exposure does the common shareholder really own? Today: Gross BPS: 20,222 sats CEBE/share: 11,759 sats Year 10: Gross BPS: 95,380 sats CEBE/share: 55,416 sats That means common-equity Bitcoin exposure per share rises about 4.7x. Even after common issuance. Even after maintaining the preferred stack. Even after the bears finish their sacred ritual of screaming “DILUTION” into a spreadsheet they opened sideways. Now the share count. Current implied diluted shares: 74.2M Projected year 10 shares: 150.4M So yes, the share count roughly doubles in this model. But the Bitcoin stack goes 9.6x. This is the entire game. If Bitcoin holdings grow much faster than shares outstanding, the common shareholder’s Bitcoin exposure goes up. The bears think all issuance is bad because they learned finance from a Yahoo message board during a divorce. The actual question is: Does issuance increase Bitcoin per share after senior claims? In this model, yes. Now the stock price. Strict 1.2x EV mNAV model gets ASST to about: $559/share But if we anchor the model to today’s actual ASST price of $15.85, the same growth path gets you to roughly: $696/share Call it $700. There it is. ASST to $700 per share is not “vibes.” It is a model. BTC compounds at 25%. SATA funds 75% of accumulation. Common funds 25% at 1.2x EV mNAV. Amplification stays at 41.9%. BTC stack grows from 15,000 BTC to 143,425 BTC. Bitcoin NAV goes from $1.21B to $107.65B. CEBE/share goes from 11,759 sats to 55,416 sats. The stock goes from $15.85 to roughly $700. This is why small Bitcoin treasury companies are so insane. Strategy is the Death Star. ASST is the weird little orange lab experiment in the basement where someone accidentally discovers corporate finance methamphetamine. Tiny denominator. Preferred financing. Bitcoin accumulation. Premium equity issuance. CEBE expansion. A compounding treasury loop. The bear case is that dilution kills the common. The bull case is that accretive dilution plus preferred financing creates a Bitcoin-per-share machine that eats capital markets and leaves behind a pile of traumatized short sellers asking why their model still says “book value.” ASST to $700? If the machine works, yes. If Bitcoin does 25% CAGR, absolutely possible. If SATA scales and common gets issued above NAV, the goblin gets fed. And once the goblin gets fed, the spreadsheet starts looking like it was written by Saylor, Dylan LeClair, and a sleep-deprived Austrian economist locked inside a treasury dashboard with three Celsius energy drinks. This is not financial advice. This is FINANCIAL ENTERTAINMENT:

66,707 views

🔥THE SIMPLE PATH TO $1,000 MSTR🔥 I modeled Strategy buying BTC at its current 2026 pace of 1,822 BTC per business day all the way through EOY 2027. Assumptions: BTC goes from $77K to $275K ($275k is the Power Law trend price EOY 2027, not moonboi nonsense) Every purchase is funded with 100% STRC issuance STRC costs 11.5% Strategy sells BTC every month to pay the dividend The cool part about this is that it shows what happens if STRC adoption stays flat from here, when in reality it is scaling quickly. Starting point: 843,738 BTC $13.52B preferred $8.21B debt 384.2M diluted shares Result by Dec 2027: Gross BTC bought: 743,246 BTC sold for dividends: 66,942 Net BTC added: 676,304 Ending stack: 1,520,042 BTC CEBE/share: 146K sats → 251K sats CEBE NAV/share: $112.56 → $691.01 If the market keeps paying today’s 1.48x price-to-CEBE multiple, the common stock projects to: $166.63 → $1,022.75 So the “crippling” 11.5% cost of capital ends up forcing monthly BTC sales of only 66.9K BTC total, while the machine inhales 743K BTC gross. Wall Street built a preferred-stock blood bank for a Bitcoin black hole, and the black hole is still hungry. Boom. Not hard. Bitcoin reverts back to trend price and Strategy stays on the pace they're on. $1,000 MSTR. If this math is even directionally right, people are grotesquely underestimating what happens when scarce collateral is funded by infinite boomer paper.

🔥THE SIMPLE PATH TO $1,000 MSTR🔥 I modeled Strategy buying BTC at its current 2026 pace of 1,822 BTC per business day all the way through EOY 2027. Assumptions: BTC goes from $77K to $275K ($275k is the Power Law trend price EOY 2027, not moonboi nonsense) Every purchase is funded with 100% STRC issuance STRC costs 11.5% Strategy sells BTC every month to pay the dividend The cool part about this is that it shows what happens if STRC adoption stays flat from here, when in reality it is scaling quickly. Starting point: 843,738 BTC $13.52B preferred $8.21B debt 384.2M diluted shares Result by Dec 2027: Gross BTC bought: 743,246 BTC sold for dividends: 66,942 Net BTC added: 676,304 Ending stack: 1,520,042 BTC CEBE/share: 146K sats → 251K sats CEBE NAV/share: $112.56 → $691.01 If the market keeps paying today’s 1.48x price-to-CEBE multiple, the common stock projects to: $166.63 → $1,022.75 So the “crippling” 11.5% cost of capital ends up forcing monthly BTC sales of only 66.9K BTC total, while the machine inhales 743K BTC gross. Wall Street built a preferred-stock blood bank for a Bitcoin black hole, and the black hole is still hungry. Boom. Not hard. Bitcoin reverts back to trend price and Strategy stays on the pace they're on. $1,000 MSTR. If this math is even directionally right, people are grotesquely underestimating what happens when scarce collateral is funded by infinite boomer paper.

54,294 views

I simply can't be anything but bullish on Bitcoin from here. When BTC has been within ±5% of this same 4 Year Moving Average deviation, median forward returns were: 3M: +18.5% 6M: +61.3% 9M: +108.5% 12M: +141.3% 18M: +234.8% 24M: +309.8% The 24-month median was a 4.1x. Bitcoin psychologically waterboards everyone until only the people who understand the asset remain. Then it teleports.

I simply can't be anything but bullish on Bitcoin from here. When BTC has been within ±5% of this same 4 Year Moving Average deviation, median forward returns were: 3M: +18.5% 6M: +61.3% 9M: +108.5% 12M: +141.3% 18M: +234.8% 24M: +309.8% The 24-month median was a 4.1x. Bitcoin psychologically waterboards everyone until only the people who understand the asset remain. Then it teleports.

37,981 views

Elon Musk’s $1 Billion TSLA share buyback barely moves the needle. $1B into Tesla stock reduces shares outstanding by 0.07% - a rounding error. $1B into Bitcoin at today’s price buys ~8,800 BTC. At 35% CAGR, that grows to $4.5B in 5 years. One path is cosmetic slop for OPTICS. The other is generational. The age of opting for share buybacks instead of Bitcoin will inevitably end.

Elon Musk’s $1 Billion TSLA share buyback barely moves the needle. $1B into Tesla stock reduces shares outstanding by 0.07% - a rounding error. $1B into Bitcoin at today’s price buys ~8,800 BTC. At 35% CAGR, that grows to $4.5B in 5 years. One path is cosmetic slop for OPTICS. The other is generational. The age of opting for share buybacks instead of Bitcoin will inevitably end.

195,727 views

🔥STRATEGY WILL BE THE WORLD'S MOST VALUABLE COMPANY🔥 Strategy bought OVER 56,000 Bitcoin in April. That number is so absurd people are psychologically incapable of processing it. Post-halving miners produce roughly 13,500 BTC per month. Strategy just bought about 4.1x an entire month of new miner supply in one month. Now run the simple monster math: Today: Strategy BTC stack: 818,334 BTC Bitcoin price: $76,196 Bitcoin NAV: $62.35B Assume Strategy keeps buying 56,000 BTC per month for 5 years. That is: ASSUMING STRC GROWTH TOTALLY STOPS (LOL) ~672,000 BTC per year ~3,360,000 BTC over 5 years Their stack goes from: 818,334 BTC to 4,178,334 BTC Now assume Bitcoin compounds at 25% CAGR. Bitcoin goes from: $76,196 to roughly: $232,532 So the Bitcoin NAV becomes: 4,178,334 BTC × $232,532 = roughly $971.5 BILLION Almost $1 TRILLION in Bitcoin NAV. And the funniest part? This model assumes no mNAV expansion. No premium insanity. No additional acceleration. No credit flywheel getting stronger. No market panic as everyone realizes Strategy is vacuuming Bitcoin off the planet like a publicly traded monetary black hole. Just: 56,000 BTC per month. 25% Bitcoin CAGR. 5 years. That’s it. Don't think they can accumulate that much Bitcoin at that low of a CAGR? Think the Bitcoin CAGR has to go higher? Cool. That only helps Strategy buy more Bitcoin. The bear case is basically: “Sure, they are absorbing multiples of new supply, building the largest corporate Bitcoin balance sheet in history, converting fiat capital markets into Bitcoin ownership, and compounding NAV at escape velocity, but have you considered that I am emotionally upset?” MSTR is becoming the most aggressive Bitcoin accumulation machine ever built. The fiat world is still modeling it like a tech stock with a weird treasury policy. GOOD LUCK.

🔥STRATEGY WILL BE THE WORLD'S MOST VALUABLE COMPANY🔥 Strategy bought OVER 56,000 Bitcoin in April. That number is so absurd people are psychologically incapable of processing it. Post-halving miners produce roughly 13,500 BTC per month. Strategy just bought about 4.1x an entire month of new miner supply in one month. Now run the simple monster math: Today: Strategy BTC stack: 818,334 BTC Bitcoin price: $76,196 Bitcoin NAV: $62.35B Assume Strategy keeps buying 56,000 BTC per month for 5 years. That is: ASSUMING STRC GROWTH TOTALLY STOPS (LOL) ~672,000 BTC per year ~3,360,000 BTC over 5 years Their stack goes from: 818,334 BTC to 4,178,334 BTC Now assume Bitcoin compounds at 25% CAGR. Bitcoin goes from: $76,196 to roughly: $232,532 So the Bitcoin NAV becomes: 4,178,334 BTC × $232,532 = roughly $971.5 BILLION Almost $1 TRILLION in Bitcoin NAV. And the funniest part? This model assumes no mNAV expansion. No premium insanity. No additional acceleration. No credit flywheel getting stronger. No market panic as everyone realizes Strategy is vacuuming Bitcoin off the planet like a publicly traded monetary black hole. Just: 56,000 BTC per month. 25% Bitcoin CAGR. 5 years. That’s it. Don't think they can accumulate that much Bitcoin at that low of a CAGR? Think the Bitcoin CAGR has to go higher? Cool. That only helps Strategy buy more Bitcoin. The bear case is basically: “Sure, they are absorbing multiples of new supply, building the largest corporate Bitcoin balance sheet in history, converting fiat capital markets into Bitcoin ownership, and compounding NAV at escape velocity, but have you considered that I am emotionally upset?” MSTR is becoming the most aggressive Bitcoin accumulation machine ever built. The fiat world is still modeling it like a tech stock with a weird treasury policy. GOOD LUCK.

61,524 views

Why I like buying MSTR over IBIT: IBIT = 1:1 Bitcoin exposure. MSTR = 1:1 Bitcoin exposure PLUS consistent growth in Bitcoin per share. BTC grows at whatever CAGR the market gives you. MSTR grows BTC holdings per share on top of that. That’s convexity. That’s leverage without liquidation. That’s why I buy MSTR over IBIT. In a world where exposure is free, I want the asset that increases my exposure every year. 30% BTC CAGR and 10% BTC Yield gets you 2.58x outperformance over a decade. $100k into IBIT: $1,378,600 after 10 years $100k into MSTR: $3,560,000 after 10 years I'll take a 35.6x over a 13.8x. 158% outperformance.

Why I like buying MSTR over IBIT: IBIT = 1:1 Bitcoin exposure. MSTR = 1:1 Bitcoin exposure PLUS consistent growth in Bitcoin per share. BTC grows at whatever CAGR the market gives you. MSTR grows BTC holdings per share on top of that. That’s convexity. That’s leverage without liquidation. That’s why I buy MSTR over IBIT. In a world where exposure is free, I want the asset that increases my exposure every year. 30% BTC CAGR and 10% BTC Yield gets you 2.58x outperformance over a decade. $100k into IBIT: $1,378,600 after 10 years $100k into MSTR: $3,560,000 after 10 years I'll take a 35.6x over a 13.8x. 158% outperformance.

131,929 views

Strategy vs. the top corporate treasuries over the next 20 years. BTC at a 35% CAGR vs. 8% USD debasement. Strategy is becoming a company of totally unparalleled financial strength.

Strategy vs. the top corporate treasuries over the next 20 years. BTC at a 35% CAGR vs. 8% USD debasement. Strategy is becoming a company of totally unparalleled financial strength.

122,374 views

Michael Saylor and Strategy are driving all of the Bitcoin out of circulation. Since August 11, 2020, Strategy has acquired 714,644 Bitcoin. That is 355.9 Bitcoin per day. And they are not slowing down. In fact, they are speeding up. The blue line is the share of Strategy's share of the remaining mineable supply, and this is only assuming their historical accumulation pace. At this pace, in 2045 they will have over 3.2 million Bitcoin and over 15.2% of the terminal Bitcoin supply. And don't forget: With more capital, their creditworthiness improves. With better creditworthiness, the better the borrowing ability. The better borrowing terms/ability, the faster the accumulation. Strategy is structurally unassailable, and if you don't secure your portion of the network... ...you will only be able to rent exposure. Tick tock.

Michael Saylor and Strategy are driving all of the Bitcoin out of circulation. Since August 11, 2020, Strategy has acquired 714,644 Bitcoin. That is 355.9 Bitcoin per day. And they are not slowing down. In fact, they are speeding up. The blue line is the share of Strategy's share of the remaining mineable supply, and this is only assuming their historical accumulation pace. At this pace, in 2045 they will have over 3.2 million Bitcoin and over 15.2% of the terminal Bitcoin supply. And don't forget: With more capital, their creditworthiness improves. With better creditworthiness, the better the borrowing ability. The better borrowing terms/ability, the faster the accumulation. Strategy is structurally unassailable, and if you don't secure your portion of the network... ...you will only be able to rent exposure. Tick tock.

65,839 views

Inflation is now at 3% and the government calls this "healthy". You’d have ≈41.2% of your original purchasing power left after 30 years. That means 58.8% of your purchasing power is destroyed by “only” 3% inflation over 30 years. In simple terms, what costs $100 today would cost about $243 in 30 years, and your money would buy less than half of what it used to. And remember, true inflation is much more insidious than this. M2 money supply expansion is more than DOUBLE this "healthy" inflation figure. This is why you must buy Bitcoin and store your wealth in something incorruptible. The livelihood of you and your family depends on it.

Inflation is now at 3% and the government calls this "healthy". You’d have ≈41.2% of your original purchasing power left after 30 years. That means 58.8% of your purchasing power is destroyed by “only” 3% inflation over 30 years. In simple terms, what costs $100 today would cost about $243 in 30 years, and your money would buy less than half of what it used to. And remember, true inflation is much more insidious than this. M2 money supply expansion is more than DOUBLE this "healthy" inflation figure. This is why you must buy Bitcoin and store your wealth in something incorruptible. The livelihood of you and your family depends on it.

96,544 views

Bitcoin vs. Silver vs. Gold since January 1st, 2015: Silver: 405% Gold: 283% Bitcoin: 27,701% Even ignoring the first 6 years of Bitcoin's existence for the crybabies who whine about the timeframe comparison... ...gold and silver drastically underperform the APEX ASSET. BITCOIN IS INEVITABLE.

Bitcoin vs. Silver vs. Gold since January 1st, 2015: Silver: 405% Gold: 283% Bitcoin: 27,701% Even ignoring the first 6 years of Bitcoin's existence for the crybabies who whine about the timeframe comparison... ...gold and silver drastically underperform the APEX ASSET. BITCOIN IS INEVITABLE.

74,596 views

Gold still goes to zero against MSTR LOL.

Gold still goes to zero against MSTR LOL.

62,390 views

Bitcoin Power Law December 31st, 2026 Prices: Resistance line: $683,259 Linear regression fit: $199,379 Support line: $70,742 Thoughts on this model? Seems to be a GREAT time to ACCUMULATE.

Bitcoin Power Law December 31st, 2026 Prices: Resistance line: $683,259 Linear regression fit: $199,379 Support line: $70,742 Thoughts on this model? Seems to be a GREAT time to ACCUMULATE.

58,239 views

SATA acquired an estimated ~291.5 BTC today. That would be assuming $19.13M raised out of the $96.44M daily volume. Is this accurate? Tough to know! We'll find out Monday I assume. But what does this look like for ASST's stock price if this was replicated every day for a year? Let's say there are about ~21 trading days per month... and Bitcoin is at $200k a year from now. It'll be a volatile, non-linear ride upward of course, but this is what it looks like if BTC moves linearly to that price point with this level of issuance. 21 x $19.3M raised = ~$400 million raised per month via SATA... zero ASST sold to buy Bitcoin. Zero mNAV expansion... mNAV trades at the same it does today. Common stock ASST is sold to fund dividends in this model. At $200K BTC: Ending BTC stack: 65,250 ₿ Ending CEBE sats/share: 43,614 CEBE Sats Yield: 228.9% annualized Ending implied stock price: $157.88 Total return vs today: 900% It is a 10x from today almost exactly. Does common equity own more residual Bitcoin per share after senior claims, dividends, and dilution? In this model, yes. A lot more. Not investment advice. This does not include the potential warrant exercises later this year. Issuing SATA adds a lot of LATENT POWER to the balance sheet. If Bitcoin goes up and to the right and it SATA issuance can continue to raise capital... well... ASST is a powder keg about to be ignited.

SATA acquired an estimated ~291.5 BTC today. That would be assuming $19.13M raised out of the $96.44M daily volume. Is this accurate? Tough to know! We'll find out Monday I assume. But what does this look like for ASST's stock price if this was replicated every day for a year? Let's say there are about ~21 trading days per month... and Bitcoin is at $200k a year from now. It'll be a volatile, non-linear ride upward of course, but this is what it looks like if BTC moves linearly to that price point with this level of issuance. 21 x $19.3M raised = ~$400 million raised per month via SATA... zero ASST sold to buy Bitcoin. Zero mNAV expansion... mNAV trades at the same it does today. Common stock ASST is sold to fund dividends in this model. At $200K BTC: Ending BTC stack: 65,250 ₿ Ending CEBE sats/share: 43,614 CEBE Sats Yield: 228.9% annualized Ending implied stock price: $157.88 Total return vs today: 900% It is a 10x from today almost exactly. Does common equity own more residual Bitcoin per share after senior claims, dividends, and dilution? In this model, yes. A lot more. Not investment advice. This does not include the potential warrant exercises later this year. Issuing SATA adds a lot of LATENT POWER to the balance sheet. If Bitcoin goes up and to the right and it SATA issuance can continue to raise capital... well... ASST is a powder keg about to be ignited.

15,426 views

🔥Strategy's STRC is the FIXED INCOME KILLER APP🔥 11% dividends on an annualized basis. PAID MONTHLY. This SMOKES every other traditional fixed income product. And the dividends are ROC, which means they are TAX-DEFERRED. These are NOT taxed as income. Every “safe yield” product in America is the same movie with different actors: You hand them dollars They hand you a coupon Inflation quietly eats the principal You clap because the number went up STRC is a different animal. STRC is what happens when fixed income stops pretending the denominator is stable. Traditional fixed income = yield paid from a system that’s structurally losing purchasing power. STRC = yield funded by a balance sheet that’s actively compounding a harder asset. So yeah, the headline yield matters (11% variable, paid monthly). But the real edge is that your “coverage” isn’t coming from hope, it’s coming from Bitcoin reserves + capital markets machinery. Compare the usual “popular” choices: T-Bills: “Congrats on matching the Fed… until the cuts.” IG corporates: “Enjoy the spread… until credit risk wakes up.” High yield: “You’re underwriting zombies for a few extra points.” Munis: “Great if you’re high bracket… still capped by fiat math.” CDs: “Locked up for a rate you’ll hate in 6 months.” Preferred ETFs: “Equity risk cosplay with bond marketing.” Money markets: “Cash that thinks it’s investing.” STRC is basically: “Here’s a real coupon, and the issuer is playing offense with the treasury instead of praying the CPI gods behave.” Fixed income has been a retirement home for capital. STRC is fixed income with teeth. Not financial advice. I’m just saying the bond market is getting dunked on by a ticker that acts like a money printer stapled to a war chest. $10,000 into STRC vs. traditional fixed income after 20 years: Strategy STRC (11%): $80,623 3-M T-Bill: $20,483 10-Yr Treasury: $22,726 IG Corporate: $25,638 High-Yield Corp: $35,236 AAA Muni: $17,372 Series I Bond: $22,038 1-Yr CD: $22,336 Preferred ETF: $34,386 Gov MMF: $20,208 Fixed income built on Bitcoin is THE FUTURE.

🔥Strategy's STRC is the FIXED INCOME KILLER APP🔥 11% dividends on an annualized basis. PAID MONTHLY. This SMOKES every other traditional fixed income product. And the dividends are ROC, which means they are TAX-DEFERRED. These are NOT taxed as income. Every “safe yield” product in America is the same movie with different actors: You hand them dollars They hand you a coupon Inflation quietly eats the principal You clap because the number went up STRC is a different animal. STRC is what happens when fixed income stops pretending the denominator is stable. Traditional fixed income = yield paid from a system that’s structurally losing purchasing power. STRC = yield funded by a balance sheet that’s actively compounding a harder asset. So yeah, the headline yield matters (11% variable, paid monthly). But the real edge is that your “coverage” isn’t coming from hope, it’s coming from Bitcoin reserves + capital markets machinery. Compare the usual “popular” choices: T-Bills: “Congrats on matching the Fed… until the cuts.” IG corporates: “Enjoy the spread… until credit risk wakes up.” High yield: “You’re underwriting zombies for a few extra points.” Munis: “Great if you’re high bracket… still capped by fiat math.” CDs: “Locked up for a rate you’ll hate in 6 months.” Preferred ETFs: “Equity risk cosplay with bond marketing.” Money markets: “Cash that thinks it’s investing.” STRC is basically: “Here’s a real coupon, and the issuer is playing offense with the treasury instead of praying the CPI gods behave.” Fixed income has been a retirement home for capital. STRC is fixed income with teeth. Not financial advice. I’m just saying the bond market is getting dunked on by a ticker that acts like a money printer stapled to a war chest. $10,000 into STRC vs. traditional fixed income after 20 years: Strategy STRC (11%): $80,623 3-M T-Bill: $20,483 10-Yr Treasury: $22,726 IG Corporate: $25,638 High-Yield Corp: $35,236 AAA Muni: $17,372 Series I Bond: $22,038 1-Yr CD: $22,336 Preferred ETF: $34,386 Gov MMF: $20,208 Fixed income built on Bitcoin is THE FUTURE.

61,147 views

🔥MSTR VS. THE MAGNIFICENT 7🔥 Strategy will be the most valuable company in the world. Latest cash cushions (USD billions): Microsoft: $102.0 B Alphabet: $98.5 B Amazon: $94.2 B Nvidia: $60.6 B Apple: $54.7 B Meta: $44.4 B Tesla: $41.6 B Strategy BTC reserve: $62.5 B Strategy’s stack of Bitcoin now tops the cash war-chests of Apple, Meta and Tesla, and sits between Nvidia and Amazon. Mag 7 cash looks big until you do the one math they’re allergic to. Purchasing power math: Cash is a melting ice cube at 6% inflation. Strategy’s reserve is an asset compounding at 30% (even if you haircut it, the spread matters). Real return spread = ~24% per year. That means Strategy’s war chest a GROWTH ENGINE. 20-year compression: Mag 7 cash sitting still loses ~70% of its purchasing power. (1 / 1.06^20 ≈ 0.31) Strategy’s reserve in REAL terms GROWS BY 50x. ( (1.30 / 1.06)^20 ≈ 50 ) Microsoft can have $100B cash, fine. In two decades, that’s the buying power of $31B in today’s dollars. Strategy’s $62.5B turns into ~$3.1T in today’s dollars, assuming the spread holds. And that’s before the real unfair advantage kicks in: Cash can’t be rehypothecated into an empire without political, regulatory, and shareholder limits. A compounding reserve can be used as collateral, capital formation, refinancing, acquisition currency, and liquidity backstop, without shrinking the core reserve. Will the Mag 7 continue to add cash to fight the decay? Absolutely. But Strategy will, more importantly, continue to add Bitcoin to outrun the monetary death spiral. Mag 7 is “operating cash.” Strategy is “strategic collateral.” When your treasury compounds faster than your competitors’ revenues, you stop competing with companies, you start competing with sovereign balance sheets. The Mag 7 doesn’t stand a chance because they’re playing defense with melting dollars while Strategy is playing offense with compounding capital.

🔥MSTR VS. THE MAGNIFICENT 7🔥 Strategy will be the most valuable company in the world. Latest cash cushions (USD billions): Microsoft: $102.0 B Alphabet: $98.5 B Amazon: $94.2 B Nvidia: $60.6 B Apple: $54.7 B Meta: $44.4 B Tesla: $41.6 B Strategy BTC reserve: $62.5 B Strategy’s stack of Bitcoin now tops the cash war-chests of Apple, Meta and Tesla, and sits between Nvidia and Amazon. Mag 7 cash looks big until you do the one math they’re allergic to. Purchasing power math: Cash is a melting ice cube at 6% inflation. Strategy’s reserve is an asset compounding at 30% (even if you haircut it, the spread matters). Real return spread = ~24% per year. That means Strategy’s war chest a GROWTH ENGINE. 20-year compression: Mag 7 cash sitting still loses ~70% of its purchasing power. (1 / 1.06^20 ≈ 0.31) Strategy’s reserve in REAL terms GROWS BY 50x. ( (1.30 / 1.06)^20 ≈ 50 ) Microsoft can have $100B cash, fine. In two decades, that’s the buying power of $31B in today’s dollars. Strategy’s $62.5B turns into ~$3.1T in today’s dollars, assuming the spread holds. And that’s before the real unfair advantage kicks in: Cash can’t be rehypothecated into an empire without political, regulatory, and shareholder limits. A compounding reserve can be used as collateral, capital formation, refinancing, acquisition currency, and liquidity backstop, without shrinking the core reserve. Will the Mag 7 continue to add cash to fight the decay? Absolutely. But Strategy will, more importantly, continue to add Bitcoin to outrun the monetary death spiral. Mag 7 is “operating cash.” Strategy is “strategic collateral.” When your treasury compounds faster than your competitors’ revenues, you stop competing with companies, you start competing with sovereign balance sheets. The Mag 7 doesn’t stand a chance because they’re playing defense with melting dollars while Strategy is playing offense with compounding capital.

46,883 views

Bitcoin vs. Strive (ASST) - 10 Years Model: BTC 25% CAGR, Strive maintains their current level of 37% amplification and has 10% BTC Yield per year. $0.83 cents into each starting today, your Bitcoin investment will be $7.73 and your ASST buy will be worth $27. That is is ~3.5x outperformance of Bitcoin over a decade. Realistically, it's my opinion that BTC Yield as well as BTC CAGR will be a lot higher in the earlier years. If Bitcoin rips to $150,000-$200,000 this year, ASST is going to MELT FACES.

Bitcoin vs. Strive (ASST) - 10 Years Model: BTC 25% CAGR, Strive maintains their current level of 37% amplification and has 10% BTC Yield per year. $0.83 cents into each starting today, your Bitcoin investment will be $7.73 and your ASST buy will be worth $27. That is is ~3.5x outperformance of Bitcoin over a decade. Realistically, it's my opinion that BTC Yield as well as BTC CAGR will be a lot higher in the earlier years. If Bitcoin rips to $150,000-$200,000 this year, ASST is going to MELT FACES.

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Saylor succinctly explains difference between MSTR and all the different Strategy credit instruments in 3 minutes. This should be your go-to video for the quick primer for anyone in your life who wants to easily understand the different investments.
3:14
AdamBLiv's profile picture

Saylor succinctly explains difference between MSTR and all the different Strategy credit instruments in 3 minutes. This should be your go-to video for the quick primer for anyone in your life who wants to easily understand the different investments.

Adam Livingston

1,801,421 views • 8 months ago

I ran a BRUTAL 3-year MSTR stress test. Not the cute kind. The “Bitcoin crashes 55% from here, mNAV collapses below 0.50x, capital markets are closed, cash gets burned, BTC has to be sold to pay the senior stack, and everyone on X is filming their victory lap in the clown mirror” kind. Starting point: BTC: $59,135 MSTR: $87.64 Total BTC: 847,363 Cash: $1.4B CEBE: 138,161 sats/share Claim ratio: 41.5% Then the model nukes BTC to $26,611 by month 6. The senior stack does exactly what fixed-dollar claims do when collateral crashes. It explodes in BTC terms. Senior claims go from 351,567 BTC to 819,073 BTC. Claim ratio spikes from 41.5% to 96.7%. Common equity BTC collapses from 495,796 BTC to 28,290 BTC. CEBE gets annihilated: 138,161 sats/share → 7,884 sats/share. MSTR stock gets modeled from $87.64 to $1.01. That is the horror movie. Would the stock price actually go this low in that scenario? I doubt it. 2022 had NEGATIVE -14,000+ of common equity sats exposure and the stock never dropped below $10. But here is where the bear case gets uncomfortable. The model assumes: Zero new BTC buys. Zero common issuance. $167.7M/month of obligations. Cash gone by month 9. BTC sales begin after cash is exhausted. Over 3 years, MSTR sells 115,727 BTC to keep servicing the stack. That is real damage. But it still ends with 731,636 BTC. Final state: BTC: $48,498 MSTR: $51.86 mNAV: 1.40x Common equity BTC: 274,093 CEBE: 76,380 sats/share Claim ratio: 62.5% MSTR survives. The common gets dragged through flaming glass for 18 months, but it survives. The real risk is not “instant bankruptcy" like all the FUD spreaders are telling you. The real risk is CEBE compression while fixed-dollar senior claims temporarily consume almost the entire Bitcoin stack in BTC-equivalent terms. Survival is not comfort. But death spiral? This model says no.
0:53
AdamBLiv's profile picture

I ran a BRUTAL 3-year MSTR stress test. Not the cute kind. The “Bitcoin crashes 55% from here, mNAV collapses below 0.50x, capital markets are closed, cash gets burned, BTC has to be sold to pay the senior stack, and everyone on X is filming their victory lap in the clown mirror” kind. Starting point: BTC: $59,135 MSTR: $87.64 Total BTC: 847,363 Cash: $1.4B CEBE: 138,161 sats/share Claim ratio: 41.5% Then the model nukes BTC to $26,611 by month 6. The senior stack does exactly what fixed-dollar claims do when collateral crashes. It explodes in BTC terms. Senior claims go from 351,567 BTC to 819,073 BTC. Claim ratio spikes from 41.5% to 96.7%. Common equity BTC collapses from 495,796 BTC to 28,290 BTC. CEBE gets annihilated: 138,161 sats/share → 7,884 sats/share. MSTR stock gets modeled from $87.64 to $1.01. That is the horror movie. Would the stock price actually go this low in that scenario? I doubt it. 2022 had NEGATIVE -14,000+ of common equity sats exposure and the stock never dropped below $10. But here is where the bear case gets uncomfortable. The model assumes: Zero new BTC buys. Zero common issuance. $167.7M/month of obligations. Cash gone by month 9. BTC sales begin after cash is exhausted. Over 3 years, MSTR sells 115,727 BTC to keep servicing the stack. That is real damage. But it still ends with 731,636 BTC. Final state: BTC: $48,498 MSTR: $51.86 mNAV: 1.40x Common equity BTC: 274,093 CEBE: 76,380 sats/share Claim ratio: 62.5% MSTR survives. The common gets dragged through flaming glass for 18 months, but it survives. The real risk is not “instant bankruptcy" like all the FUD spreaders are telling you. The real risk is CEBE compression while fixed-dollar senior claims temporarily consume almost the entire Bitcoin stack in BTC-equivalent terms. Survival is not comfort. But death spiral? This model says no.

Adam Livingston

121,739 views • 25 days ago

I think MSTR could go to around all-time high at only a 1.4x mNAV + $150k BTC. $150k Bitcoin is going to be incredibly cheap compared to the long term trend 1 year from now. If we start the climb back now, STRC gets turned back w/ $2b per month issued, and $500m of MSTR gets issued per month. This pace would still be under their 2026 YTD capital raising pace. The beach ball is being held underwater it's just waiting for Bitcoin to move.
0:26
AdamBLiv's profile picture

I think MSTR could go to around all-time high at only a 1.4x mNAV + $150k BTC. $150k Bitcoin is going to be incredibly cheap compared to the long term trend 1 year from now. If we start the climb back now, STRC gets turned back w/ $2b per month issued, and $500m of MSTR gets issued per month. This pace would still be under their 2026 YTD capital raising pace. The beach ball is being held underwater it's just waiting for Bitcoin to move.

Adam Livingston

112,748 views • 25 days ago

Saylor telling you how you can get 10% tax-free dividends with $STRC: "The tax-equivalent yield is 16-20%. It's like a bank paying you 20% interest. It's because we're built on Bitcoin. A Bitcoin treasury company is the most tax-efficient fixed income generator in the world."
1:19
AdamBLiv's profile picture

Saylor telling you how you can get 10% tax-free dividends with $STRC: "The tax-equivalent yield is 16-20%. It's like a bank paying you 20% interest. It's because we're built on Bitcoin. A Bitcoin treasury company is the most tax-efficient fixed income generator in the world."

Adam Livingston

1,042,647 views • 8 months ago

🔥COFFEEZILLA REFUTED - STRC IS THE GREATEST FIXED INCOME INVESTMENT EVER🔥 Coffeezilla just made an 18 minute CHARACTER ASSASSINATION on Strategy by saying it was comparable to a PONZI SCHEME. He made ZERO arguments in his video, provided ZERO mechanisms by which the structure is fraudulent, and provided ZERO proof that Strategy hasn't disclosed the proper risks. This didn't stop thousands of people from immediately thinking that Strategy is FRAUDELENT. DO BETTER, COFFEEZILLA. THIS IS YOUR RECKONING:
32:05
AdamBLiv's profile picture

🔥COFFEEZILLA REFUTED - STRC IS THE GREATEST FIXED INCOME INVESTMENT EVER🔥 Coffeezilla just made an 18 minute CHARACTER ASSASSINATION on Strategy by saying it was comparable to a PONZI SCHEME. He made ZERO arguments in his video, provided ZERO mechanisms by which the structure is fraudulent, and provided ZERO proof that Strategy hasn't disclosed the proper risks. This didn't stop thousands of people from immediately thinking that Strategy is FRAUDELENT. DO BETTER, COFFEEZILLA. THIS IS YOUR RECKONING:

Adam Livingston

293,674 views • 3 months ago

The most bullish Bitcoin chart is the one that keeps grinding higher while everyone stares at the spot price. The 4-year moving average of realized price is the market's smoothed cost basis. It is the slow, load-bearing floor under the entire asset, and it is still compounding at nearly 30% a year after a full decade of adoption. YoY CAGR of the 4Y realized price MA: 2014: $101.47 - baseline 2015: $173.33 - 70.82% 2016: $259.08 - 49.47% 2017: $576.40 - 122.48% 2018: $1,771.46 - 207.33% 2019: $2,954.45 - 66.78% 2020: $4,405.83 - 49.13% 2021: $8,876.68 - 101.48% 2022: $13,246.03 - 49.22% 2023: $17,064.55 - 28.83% 2024: $23,076.40 - 35.23% 2025: $30,521.35 - 32.26% 2026 YTD: $34,345.61 - 29.39% Read the bottom cluster again. Four halvings, three "generational" crashes, and roughly 9,000 obituaries later, the smoothed floor still compounds at 30% a year. The explosive early-cycle numbers cooled off and the metric barely noticed. Your savings account pays 4%. The floor under Bitcoin compounds at 30%. The volatility you keep flinching at is just the entry fee for that seat.
0:31
AdamBLiv's profile picture

The most bullish Bitcoin chart is the one that keeps grinding higher while everyone stares at the spot price. The 4-year moving average of realized price is the market's smoothed cost basis. It is the slow, load-bearing floor under the entire asset, and it is still compounding at nearly 30% a year after a full decade of adoption. YoY CAGR of the 4Y realized price MA: 2014: $101.47 - baseline 2015: $173.33 - 70.82% 2016: $259.08 - 49.47% 2017: $576.40 - 122.48% 2018: $1,771.46 - 207.33% 2019: $2,954.45 - 66.78% 2020: $4,405.83 - 49.13% 2021: $8,876.68 - 101.48% 2022: $13,246.03 - 49.22% 2023: $17,064.55 - 28.83% 2024: $23,076.40 - 35.23% 2025: $30,521.35 - 32.26% 2026 YTD: $34,345.61 - 29.39% Read the bottom cluster again. Four halvings, three "generational" crashes, and roughly 9,000 obituaries later, the smoothed floor still compounds at 30% a year. The explosive early-cycle numbers cooled off and the metric barely noticed. Your savings account pays 4%. The floor under Bitcoin compounds at 30%. The volatility you keep flinching at is just the entry fee for that seat.

Adam Livingston

49,510 views • 17 days ago

🔥SAYLOR HAS WON: THE BITCOIN SINGULARITY IS HERE🔥 THIS IS THE BIGGEST STORY IN FINANCE. THE BEARS ARE ON LIFE SUPPORT. ASSUMING LAST WEEK'S CAPTURE RATE, STRATEGY JUST RAISED MORE THAN THEIR ENTIRE ANNUAL DIVIDEND OBLIGATION... ...IN ONE TRADING SESSION... ...WITH ZERO MSTR ISSUANCE NEEDED. $1.2 BILLION OF BITCOIN PURCHASED IN ONE DAY. THE CAPITAL FROM THE WORLD'S LARGEST INCOME POOL IS FLOODING INTO BITCOIN. STRC. THE GREATEST SHARPE RATIO IN HISTORY. 11.5% YIELD. 1.7% VOLATILITY. HIGH LIQUIDITY. NOTHING CAN COMPETE WITH SAYLOR'S BITCOIN WAR MACHINE. THIS IS THE GREATEST WEALTH TRANSFER IN THE HISTORY OF HUMANITY:
16:21
AdamBLiv's profile picture

🔥SAYLOR HAS WON: THE BITCOIN SINGULARITY IS HERE🔥 THIS IS THE BIGGEST STORY IN FINANCE. THE BEARS ARE ON LIFE SUPPORT. ASSUMING LAST WEEK'S CAPTURE RATE, STRATEGY JUST RAISED MORE THAN THEIR ENTIRE ANNUAL DIVIDEND OBLIGATION... ...IN ONE TRADING SESSION... ...WITH ZERO MSTR ISSUANCE NEEDED. $1.2 BILLION OF BITCOIN PURCHASED IN ONE DAY. THE CAPITAL FROM THE WORLD'S LARGEST INCOME POOL IS FLOODING INTO BITCOIN. STRC. THE GREATEST SHARPE RATIO IN HISTORY. 11.5% YIELD. 1.7% VOLATILITY. HIGH LIQUIDITY. NOTHING CAN COMPETE WITH SAYLOR'S BITCOIN WAR MACHINE. THIS IS THE GREATEST WEALTH TRANSFER IN THE HISTORY OF HUMANITY:

Adam Livingston

243,104 views • 3 months ago

STRATEGY TO THE S&P 500 BECAUSE IT'S INEVITABLE Everyone thinks MSTR’s S&P 500 path is just “Bitcoin goes up, number goes up.” Wrong. This is about Strategy turning from a deranged Bitcoin trebuchet into an institutionally legible capital markets weapon. GAAP profitability. Convertible debt cleanup. USD liquidity reserves. Passive index flows. And the hilarious possibility that the world’s most boring retirement portfolios may eventually be forced to own amplified Bitcoin exposure in a suit and tie. STRATEGY WORLD DOMINATION IS INEVITABLE:
20:27
AdamBLiv's profile picture

STRATEGY TO THE S&P 500 BECAUSE IT'S INEVITABLE Everyone thinks MSTR’s S&P 500 path is just “Bitcoin goes up, number goes up.” Wrong. This is about Strategy turning from a deranged Bitcoin trebuchet into an institutionally legible capital markets weapon. GAAP profitability. Convertible debt cleanup. USD liquidity reserves. Passive index flows. And the hilarious possibility that the world’s most boring retirement portfolios may eventually be forced to own amplified Bitcoin exposure in a suit and tie. STRATEGY WORLD DOMINATION IS INEVITABLE:

Adam Livingston

41,708 views • 17 days ago

The Ultimate Beginner's Guide to STRC + MSTR Is Strategy running a ponzi scheme? No. This is video, I take an objective, no-nonsense approach to explaining STRC, MSTR, and the risks behind both. I go into detail of Strategy's strategy so your grandma can understand this perfectly. Whether you want to get paid 11.5% annual dividends, paid monthly with STRC... ...or you want amplified Bitcoin exposure via MSTR. This is the ultimate beginner's guide to understanding Strategy:
23:38
AdamBLiv's profile picture

The Ultimate Beginner's Guide to STRC + MSTR Is Strategy running a ponzi scheme? No. This is video, I take an objective, no-nonsense approach to explaining STRC, MSTR, and the risks behind both. I go into detail of Strategy's strategy so your grandma can understand this perfectly. Whether you want to get paid 11.5% annual dividends, paid monthly with STRC... ...or you want amplified Bitcoin exposure via MSTR. This is the ultimate beginner's guide to understanding Strategy:

Adam Livingston

211,743 views • 3 months ago

I was watching a Parker Lewis talk from seven months ago, and it was genuinely excellent. I was surprised to discover that I agree with him philosophically almost 100%, especially after he has voiced some disagreements with me on here. His vision of a Bitcoin standard was clear. Bitcoin becomes the money, pricing mechanism, payment rail, and unit of account. Companies earn Bitcoin cash flows, assets are valued in Bitcoin, and people use their savings to invest and assume risk. His exact words were: “People will have savings. People will still invest. People will still take risks… We’re not all just sitting here staring at our digital wealth.” Correct. That is precisely how I think about Bitcoin. Bitcoin is the apex money and ultimate denominator. I hold it in self-custody. I also invest some of my capital in equities when I believe the expected Bitcoin-denominated return compensates me for the additional risk.
0:21
AdamBLiv's profile picture

I was watching a Parker Lewis talk from seven months ago, and it was genuinely excellent. I was surprised to discover that I agree with him philosophically almost 100%, especially after he has voiced some disagreements with me on here. His vision of a Bitcoin standard was clear. Bitcoin becomes the money, pricing mechanism, payment rail, and unit of account. Companies earn Bitcoin cash flows, assets are valued in Bitcoin, and people use their savings to invest and assume risk. His exact words were: “People will have savings. People will still invest. People will still take risks… We’re not all just sitting here staring at our digital wealth.” Correct. That is precisely how I think about Bitcoin. Bitcoin is the apex money and ultimate denominator. I hold it in self-custody. I also invest some of my capital in equities when I believe the expected Bitcoin-denominated return compensates me for the additional risk.

Adam Livingston

23,464 views • 9 days ago

SAYLOR NOW PAYING 11% CASH DIVIDENDS WITH STRC - TOO GOOD TO BE TRUE? They told you 11% paid monthly must be a scam. They said it was “too risky.” They said “where are the cash flows?” Then they went back to buying government bonds from a country that can’t pay its bills without printing. In this video, I break down STRC, Michael Saylor’s income vehicle paying 11% cash, paid monthly, and why it’s making traditional finance people short-circuit. This is what happens when a product: • Already has decades of dividend coverage on the balance sheet • Doesn’t need refinancing windows to stay alive • Doesn’t depend on consumers, confidence, or GDP fairy tales • Pays real cash while fiat melts quietly Meanwhile, the same critics call it “dangerous” while lending money to: • Governments running permanent deficits • Corporations drowning in rollover debt • Pensions powered by optimism and vibes We’re going to walk through why STRC is being priced like junk credit despite behaving nothing like it, how cash-backed income breaks the modern risk framework, and why people trained on spreadsheets panic when money actually already exists.
22:59
AdamBLiv's profile picture

SAYLOR NOW PAYING 11% CASH DIVIDENDS WITH STRC - TOO GOOD TO BE TRUE? They told you 11% paid monthly must be a scam. They said it was “too risky.” They said “where are the cash flows?” Then they went back to buying government bonds from a country that can’t pay its bills without printing. In this video, I break down STRC, Michael Saylor’s income vehicle paying 11% cash, paid monthly, and why it’s making traditional finance people short-circuit. This is what happens when a product: • Already has decades of dividend coverage on the balance sheet • Doesn’t need refinancing windows to stay alive • Doesn’t depend on consumers, confidence, or GDP fairy tales • Pays real cash while fiat melts quietly Meanwhile, the same critics call it “dangerous” while lending money to: • Governments running permanent deficits • Corporations drowning in rollover debt • Pensions powered by optimism and vibes We’re going to walk through why STRC is being priced like junk credit despite behaving nothing like it, how cash-backed income breaks the modern risk framework, and why people trained on spreadsheets panic when money actually already exists.

Adam Livingston

354,949 views • 6 months ago

Strategy spent 1,554 days stacking its first 252,220 BTC. 162 BTC/day. Since November 2024? 591,486 BTC in 568 days. 1,041 BTC/day. That is a 6.4x acceleration. ~31,700 BTC/month. ~380,000 BTC/year run rate. And the mouth-breathing crypto traders on here are criticizing this, thinking it's on the verge of collapse. The machine is just getting started, and they hate that. Bullish $MSTR.
0:22
AdamBLiv's profile picture

Strategy spent 1,554 days stacking its first 252,220 BTC. 162 BTC/day. Since November 2024? 591,486 BTC in 568 days. 1,041 BTC/day. That is a 6.4x acceleration. ~31,700 BTC/month. ~380,000 BTC/year run rate. And the mouth-breathing crypto traders on here are criticizing this, thinking it's on the verge of collapse. The machine is just getting started, and they hate that. Bullish $MSTR.

Adam Livingston

78,163 views • 1 month ago

🔥MASSIVE BULLISH MSTR NEWS - 5 NEW ANNOUNCEMENTS! 🔥 Strategy just raised $1.15 BILLION for the USD reserve in a manner that was ACCRETIVE to MSTR shareholders. They also announced a new DIGITAL CREDIT CAPITAL FRAMEWORK... with FIVE MAJOR ANNOUNCEMENTS/UPDATES on how they will continue operating their Bitcoin treasury strategy. MSTR is back to trading at a premium. STRC is up 11%. THE BEARS ARE INSANE PEOPLE. FULL ANALYSIS/BREAKDOWN:
24:48
AdamBLiv's profile picture

🔥MASSIVE BULLISH MSTR NEWS - 5 NEW ANNOUNCEMENTS! 🔥 Strategy just raised $1.15 BILLION for the USD reserve in a manner that was ACCRETIVE to MSTR shareholders. They also announced a new DIGITAL CREDIT CAPITAL FRAMEWORK... with FIVE MAJOR ANNOUNCEMENTS/UPDATES on how they will continue operating their Bitcoin treasury strategy. MSTR is back to trading at a premium. STRC is up 11%. THE BEARS ARE INSANE PEOPLE. FULL ANALYSIS/BREAKDOWN:

Adam Livingston

39,901 views • 21 days ago

MSTR from $149 to $14,368 dollars per share is BEARISH. Assumptions: $2B/month preferred issuance (they're already doing this) 11.5% preferred cost (they never lower the rate, lol) 30% BTC CAGR (power law CAGR) 1.32x CEBE mNAV (multiple NEVER expands) Also, they NEVER issue common stock MSTR to buy more Bitcoin. Start today: 843,738 BTC 573,757 common equity BTC 163,144 CEBE sats/share $158.97 implied price Year 14: 2,064,691 BTC 1,942,234 common equity BTC 374,504 CEBE sats/share $14,368.51 implied price That is 90.4x in the model. Preferred balance goes from $15.5B to $351.5B. Senior claims fall from 270K BTC to 122K BTC. Claim ratio falls from 32.0% to 5.9%. This means they have so much room to issue more credit given this Bitcoin growth rate. Common equity BTC rises by 1.37M BTC. CEBE sats/share rise 129.6%. Shares rise 47.5%. If the Bitcoin treasury compounds faster than the fiat claims, the capital structure becomes a machine that transfers residual Bitcoin exposure back to common equity. This is Ownership Acceleration. CEBE is the scoreboard. Bullish Strategy. See you in 2040:
0:33
AdamBLiv's profile picture

MSTR from $149 to $14,368 dollars per share is BEARISH. Assumptions: $2B/month preferred issuance (they're already doing this) 11.5% preferred cost (they never lower the rate, lol) 30% BTC CAGR (power law CAGR) 1.32x CEBE mNAV (multiple NEVER expands) Also, they NEVER issue common stock MSTR to buy more Bitcoin. Start today: 843,738 BTC 573,757 common equity BTC 163,144 CEBE sats/share $158.97 implied price Year 14: 2,064,691 BTC 1,942,234 common equity BTC 374,504 CEBE sats/share $14,368.51 implied price That is 90.4x in the model. Preferred balance goes from $15.5B to $351.5B. Senior claims fall from 270K BTC to 122K BTC. Claim ratio falls from 32.0% to 5.9%. This means they have so much room to issue more credit given this Bitcoin growth rate. Common equity BTC rises by 1.37M BTC. CEBE sats/share rise 129.6%. Shares rise 47.5%. If the Bitcoin treasury compounds faster than the fiat claims, the capital structure becomes a machine that transfers residual Bitcoin exposure back to common equity. This is Ownership Acceleration. CEBE is the scoreboard. Bullish Strategy. See you in 2040:

Adam Livingston

83,514 views • 1 month ago

Can't be bearish on Bitcoin. Bitcoin’s 4-year moving average is now ~$59,919. One year ago: ~$47,269. That’s +26.8% YoY. Since the February 5th, 2026 drawdown, the 4-year moving average is already up another $2,575, or +4.5%. Bitcoin's 4-year MA has NEVER gone down year over year. The tourists are staring at red candles. The long-term floor is walking uphill like always. Think Bitcoin is “going sideways”? The noise is going sideways. The monetary black hole is still moving up and to the right.
0:33
AdamBLiv's profile picture

Can't be bearish on Bitcoin. Bitcoin’s 4-year moving average is now ~$59,919. One year ago: ~$47,269. That’s +26.8% YoY. Since the February 5th, 2026 drawdown, the 4-year moving average is already up another $2,575, or +4.5%. Bitcoin's 4-year MA has NEVER gone down year over year. The tourists are staring at red candles. The long-term floor is walking uphill like always. Think Bitcoin is “going sideways”? The noise is going sideways. The monetary black hole is still moving up and to the right.

Adam Livingston

78,874 views • 1 month ago

WHY $STRF IS THE GREATEST FIXED INCOME PRODUCT EVER The death of legacy fixed income is here. Michael Saylor, Bitcoin, and Strategy are here with $STRF to fill that gap. I aim to give a comprehensive breakdown of the most mind-blowing financial instrument today:
17:18
AdamBLiv's profile picture

WHY $STRF IS THE GREATEST FIXED INCOME PRODUCT EVER The death of legacy fixed income is here. Michael Saylor, Bitcoin, and Strategy are here with $STRF to fill that gap. I aim to give a comprehensive breakdown of the most mind-blowing financial instrument today:

Adam Livingston

520,315 views • 1 year ago

🔥SAYLOR SOLD OVER 3,000 BITCOIN! FULL MSTR UPDATE!🔥 Michael Saylor did the unthinkable. Strategy sold 3,588 Bitcoin for $216 million. The cold-storage monks immediately began speaking in tongues. The death-spiral bears lit candles around their dusty liquidation models. The “Bitcoin is money” crowd discovered, horrifyingly, that money can sometimes be used to pay things. This is a full deep dive on why Strategy sold Bitcoin:
24:37
AdamBLiv's profile picture

🔥SAYLOR SOLD OVER 3,000 BITCOIN! FULL MSTR UPDATE!🔥 Michael Saylor did the unthinkable. Strategy sold 3,588 Bitcoin for $216 million. The cold-storage monks immediately began speaking in tongues. The death-spiral bears lit candles around their dusty liquidation models. The “Bitcoin is money” crowd discovered, horrifyingly, that money can sometimes be used to pay things. This is a full deep dive on why Strategy sold Bitcoin:

Adam Livingston

21,220 views • 13 days ago

This is unpopular to say, but retail is completely COOKED when it comes to Bitcoin. They will continue to sell their Bitcoin hand over fist to the institutions with lower time preference. Bitcoin will be redistributed according to the Pareto principle just like any other form of wealth. The suits are buying everything that moves. Since the spot ETF launch: IBIT has absorbed ~814,000 BTC-equivalent in net flows. Strategy has added ~655,000 BTC. Combined absorption: ~1.47 MILLION BTC. And people are still panic-posting because the daily candle hurt their feelings. Individuals sell when the chart looks scary. The machines, ETFs, corporate treasuries, advisors, allocators, and capital markets desks keep buying agnostic of vibes. Retail wants emotional confirmation. Institutions want inventory. You are watching Bitcoin migrate from trembling hands to permanent balance sheets in real time. Spot price is the distraction. Absorption is the signal.
0:35
AdamBLiv's profile picture

This is unpopular to say, but retail is completely COOKED when it comes to Bitcoin. They will continue to sell their Bitcoin hand over fist to the institutions with lower time preference. Bitcoin will be redistributed according to the Pareto principle just like any other form of wealth. The suits are buying everything that moves. Since the spot ETF launch: IBIT has absorbed ~814,000 BTC-equivalent in net flows. Strategy has added ~655,000 BTC. Combined absorption: ~1.47 MILLION BTC. And people are still panic-posting because the daily candle hurt their feelings. Individuals sell when the chart looks scary. The machines, ETFs, corporate treasuries, advisors, allocators, and capital markets desks keep buying agnostic of vibes. Retail wants emotional confirmation. Institutions want inventory. You are watching Bitcoin migrate from trembling hands to permanent balance sheets in real time. Spot price is the distraction. Absorption is the signal.

Adam Livingston

65,822 views • 1 month ago

🔥MSTR DOWN -8%! STRC DOWN -6%! IS THERE ANY HOPE LEFT?!?🔥 BITCOIN IS GETTING BUTCHERED IN THE STREET. MSTR IS DROPPING LIKE A ROCK. STRC IS BEING BATTLE TESTED. THE BEARS ARE TAKING THEIR VICTORY LAP. IS THERE ANY HOPE LEFT?! FULL DEEP DIVE:
29:55
AdamBLiv's profile picture

🔥MSTR DOWN -8%! STRC DOWN -6%! IS THERE ANY HOPE LEFT?!?🔥 BITCOIN IS GETTING BUTCHERED IN THE STREET. MSTR IS DROPPING LIKE A ROCK. STRC IS BEING BATTLE TESTED. THE BEARS ARE TAKING THEIR VICTORY LAP. IS THERE ANY HOPE LEFT?! FULL DEEP DIVE:

Adam Livingston

32,502 views • 24 days ago

🚨SAYLOR DESTROYS ALL CRITICS WITH USD CASH RESERVE - STRATEGY UPDATE 12.1.25🚨 Michael Saylor just broke the brains of every critic who spent 5 years predicting Strategy’s collapse. The $1.44B cash reserve announcement completely destroys the “LUNA 2.0” narrative and exposes how unserious the crypto commentariat really is. Strategy holds 650,000 BTC and enough cash to run the company for nearly two years with ZERO BITCOIN SELLING. In this video, I walk through the entire update like adults while laughing at the panic influencers who still think “MSTR bad” is a sophisticated thesis. S&P Global got addressed directly. Insolvency claims got vaporized. Market access concerns got resolved in real time. Critics are now scrambling to pretend they understood any of this. Watch the breakdown. Watch the receipts. Watch the complete destruction of the “death spiral” storyline. Strategy is not failing. Strategy is expanding. THE CRITICS ARE FAILING:
19:56
AdamBLiv's profile picture

🚨SAYLOR DESTROYS ALL CRITICS WITH USD CASH RESERVE - STRATEGY UPDATE 12.1.25🚨 Michael Saylor just broke the brains of every critic who spent 5 years predicting Strategy’s collapse. The $1.44B cash reserve announcement completely destroys the “LUNA 2.0” narrative and exposes how unserious the crypto commentariat really is. Strategy holds 650,000 BTC and enough cash to run the company for nearly two years with ZERO BITCOIN SELLING. In this video, I walk through the entire update like adults while laughing at the panic influencers who still think “MSTR bad” is a sophisticated thesis. S&P Global got addressed directly. Insolvency claims got vaporized. Market access concerns got resolved in real time. Critics are now scrambling to pretend they understood any of this. Watch the breakdown. Watch the receipts. Watch the complete destruction of the “death spiral” storyline. Strategy is not failing. Strategy is expanding. THE CRITICS ARE FAILING:

Adam Livingston

244,583 views • 7 months ago