$MSTR just made a statement that changes everything. No... more convertible debt. Ever. Phong said it verbatim on the earnings call. They're not just stopping new converts. They're buying back the existing ones and wiping them off the balance sheet completely. Because $STRC has been so successful they no longer need them. The new capital structure is already winning. Dan Hilleryshow more

“Our guys understand that if they're not playing as... hard as they can that they're just going to come off the floor. Because there is a guy behind them that is willing..." If your effort is negotiable, so is your role. Talent gets you minutes. Effort keeps them.show more

Saylor’s Bitcoin Machine Meets the Cash Reality The real... story is not that Strategy may sell up to $1.25B of Bitcoin. The bigger story is that it has moved from a simple accumulation narrative into a complex capital markets machine. The old pitch was buy Bitcoin, never sell, increase Bitcoin per share. The new structure has preferred stock, convertible debt, reserves, buybacks, dividend obligations, and now a BTC monetization plan. That shift matters because Bitcoin does not produce cash flow. Preferred dividends and interest expense do. Strategy says it has about $2.55B in USD reserves and roughly $1.76B in annual preferred dividend and interest obligations. That sounds like about 17 months of coverage, but that number is static. It assumes no future dividend increases, no stress, no buybacks, no taxes, no transaction costs, and no deterioration in capital market access. If they keep raising the STRC dividend to defend the price near par, the cash burn rises and the runway gets shorter. The Digital Credit Problem STRC is marketed as digital credit, but economically it behaves like a high yield perpetual preferred stock tied to confidence in a Bitcoin balance sheet. It is not normal debt because there is no traditional maturity. It is not common equity because it sits ahead of common shareholders and carries a large cash distribution expectation. The design is clever but circular. STRC’s dividend can be adjusted to keep the security near $99 to $100. The dividend was raised to 12%, which may support the price, but it also raises cash burn. If STRC trades below par, Strategy may raise the dividend again. If the dividend rises, the reserve coverage shrinks. If cash gets tight, Strategy needs new issuance, reserves, or Bitcoin sales. The compounding issue makes the structure even more fragile. If dividends are paid on time, they do not compound against the company. But if payments are deferred or missed, unpaid dividends can accumulate and compound monthly until paid. That means a liquidity problem does not just sit there. It can grow on itself. Where The Fragility Lives Strategy owns a volatile, non cash flowing asset and has layered cash obligations on top of it. That works when Bitcoin rises, MSTR trades at a premium, and investors are hungry for yield. It gets harder when Bitcoin falls, spreads widen, or investors demand higher returns. Selling Bitcoin now changes the narrative. Bitcoin is no longer just the sacred reserve asset. It is now a liquidity backstop for dividends, reserves, interest, and buybacks. The $1.25B monetization program adds runway, but it also proves the point. Cash promises need cash sources. That creates the feedback loop. If Bitcoin falls, asset coverage weakens. If STRC trades lower, required yields rise. If yields rise, Strategy may need to raise the dividend. If the dividend rises, cash burn accelerates. If issuance slows, reserves get used. If reserves fall, Bitcoin sales become more likely. If those sales look defensive, confidence weakens further. My Take Common shareholders own the upside, but they sit below debt and preferred claims. Preferred holders get high yield, but they rely on Strategy’s ability to maintain reserves, issue securities, monetize Bitcoin, and keep market confidence intact. This is no longer just a Bitcoin bet. It is a Bitcoin liquidity bet, a capital markets access bet, and a confidence bet. Strategy can survive if Bitcoin rises, MSTR keeps a premium, and yield investors keep funding the machine. If two fail at once, the model becomes fragile. The key red flags are STRC below par, dividend hikes that fail to restore the price, reserve coverage under 12 months, unpaid dividends compounding, visible Bitcoin sales, MSTR near or below NAV, and preferred yields widening. The structure can work, but not forever on narrative alone. Eventually, cash obligations meet cash sources. That is where the risk lives.show more

Don't spray poison in the sky. If the government... is colluding with pharma or anyone else to do it, we need to hold them accountable—arrest them and put them in jail. No more hiding behind "they work for the government, they're immune!" They're not allowed to commit fraud. We need to come together and fight back. What do you think is really going on up there? Drop your thoughts below.show more

Hila and Ethan Klein have great advice for iDubbbz.... Just delete the H3 content cop. No need to let it hit 10 million. Why? Because they're "not going to forget". The Klein's can't competently defend their behavior so they gleefully threaten anyone who criticizes them.show more

Mirzapur, UP A new mazar has come up on... government land. In the near future, they will claim that land. We need to punish whoever is doing this. Just demolishing it is no longer enough. The government should instill fear in the perpetrators.show more

I don't speak Hadzabe but I'm sure the man... is talking about how difficult it is to hunt aardvarks because of how fast they dig. Aardvarks can dig a 2 feet hole in just 15 seconds. In fact, they're so good in digging holes and burrows that they don't sleep in a burrow for long. They may not sleep in a burrow for two nights. They just keep moving and dig new ones wherever they want to sleep. Their abandoned burrows serve as homes for warthogs, snakes, rabbits and so on. They're the real estate moguls of the wild.show more

The Russians are deploying new self-propelled howitzers "Malva" and,... likely, multiple rocket launchers "Uragan-1M" to the frontline But the "allied might" from the North Korean comrades has somehow disappeared: either they're only supplying shells, or they're hiding their equipment so no one can see it. On paper, Russia has a "future army". In reality, they're gathering everything that can shoot and hasn't already broken down yet. This is the "strategy" - to fight until the last piece of metal and the last man.show more

THE CROWD HAS BEEN WRONG AT EVERY MAJOR TURN... THIS TIME IS NO DIFFERENT In 2022 they said $20K was the bottom it wasn't In 2023 they said crypto was dead it wasn't In 2025 they said $126K was just the beginning it wasn't Right now the crowd is convinced the worst is behind us They're wrong again The same sentiment, the same narratives, the same misplaced confidence that shows up at every major top and before every major flush Below $50K is coming not because of doom and gloom, because the chart, the cycle, the math, and the liquidity map all point to the same place The crowd will understand it after See you below $50K Turn notifications on - I'll call it before it printsshow more

🐶: Recently, it was Sion's birthday, and be bought... the cake too. 🐰: I kinda like wish too, because they're so fresh and they debuted into a group full of older members, so I figured out that must've been tough, and I worried about them. That made me want to take care of them more.show more

You probably think you need to do more cardio.... Longer workouts. More miles. More suffering. But what if you just made the walk you're already taking a little more challenging? I've been a big fan of weighted vests for years because they're simple. You put one on, go for a walk, and suddenly your body has to do more work without you spending any more time exercising. The data is pretty impressive and one of the biggest mistakes I see people make is thinking health has to be extreme to be effective. Most of the time, the answer is taking something you're already doing and making it a little better. A weighted vest is a great example of that. Just walk.show more

CRAZYYYY they just closed the caratzone cause it's 4PM... already they don't care about us at all we've been queuing since morning and the queue is not moving because of them but now they just closed their eyes and moved on... they said no more caratzone and good bye 💩 Live Nation SG here's the situation we all queued for hours and got nothing lmao... this gotta be some kind of jokeshow more

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:show more

“A Mark Carney-led government will balance the OPERATING budget... in three years. at the same time, we will run a small deficit on CAPITAL spending.” -Mark Carney I want you to listen very carefully to what Finance Minister Champagne is saying in this video. He is talking about a balanced OPERATIONAL budget. An operational budget refers only to the expenses of running the country. It does not include incredibly expensive CAPITAL expenses. Instead, Minister Champagne refers to capital expenses as investments. THAT IS COMPLETE DISHONESTY. There is no G20 country that has this type of accounting practice. This is important to understand because Canada must go to the bond market to raise money. The bond market does not give a damn how you categorize your debt. Whether it's operational or capital spending, the deeper you get into debt the higher the rate of interest you will have to pay on that debt. In essence, both Carney and Champagne are grossly misleading the Canadian public by telling them that they will balance the operational budget. They're hoping that you don't understand how budgets work, and the truth is they will likely get away with it. Expect a massive increase in our national debt under a Carney government. Mark Carney François-Philippe Champagne (FPC) 🇨🇦show more

Go to the people, dwell amongst them. Learn from... them, starting with what they already know. Capitalize on what they have and build on it. The people are an important part of any Government, so a successful Government is one that puts the people as the focal point of it's administration. Congratulations to the new Governor of Rivers State and the New law makers. ~~ Hon.Kelechi Nwogu(DSSRS) Member Federal House of Assembly.show more

🇺🇸 HERE'S WHAT NO ONE IS TELLING YOU ABOUT... THE 2026 MIDTERMS! The GOP is doing something no party has ever done before. A full presidential-style convention. For the midterms. Let that sink in. While Republicans are building a stage, firing up a crowd, and showing America exactly what they stand for, Democrats are sitting in the locker room with no game plan and no coach. What are they going to run on? Grocery prices that crushed working families? The open border they cheered for? More government control dressed up as "progress"? Go ahead, step to the podium and make the case for socialism. We'll wait. This convention isn't just a rally. It's a statement. The Republican Party is playing offense while the left is still trying to figure out what team they're on. Energy wins elections. Momentum wins elections. And right now the GOP has both. The machine is warming up. The base is ready. And come November 2026, this could be the move that changes everything. History is being made in real time. Don't miss it!show more

🇺🇸 DALLAS IS ABOUT TO BECOME THE CAPITAL OF... THE AMERICA FIRST MOVEMENT! For the first time in party history, Republicans are holding a midterm convention. Not a debate stage. Not a press conference. A full blown convention, September 9th and 10th, right in the heart of Dallas. The Democrats aren't ready for this! Trump called it exactly what it is. "It has never been done before, and will be a truly Historic Event." Think about that for a second. Presidential conventions happen every four years like clockwork. Midterm conventions do not happen at all, because most parties do not have anything worth celebrating in the off year. The GOP just decided they do. RNC Chairman Joe Gruters is already calling it Trumpapalooza. That is not a typo. That is the energy level we are talking about. This is not just a rally. It is a two day showcase of the Great American Comeback. No tax on tips. No tax on overtime. Falling oil prices while the administration denuclearizes Iran. A border that finally has a lock on the door. Trump is not asking Republicans to imagine the wins. He is putting them on a stage in Texas and pointing at them. And Texas is not a random choice. It is the epicenter of this year's fight for Congress, with Ken Paxton battling for Senate and multiple House seats hanging in the balance. Dallas Mayor Eric Johnson called it exactly right, an event that will "energize our party, strengthen the conservative movement, and help build momentum." Now look across the aisle. Democrats floated the idea of their own midterm gathering. Then they quietly shelved it. No unifying message. No standout headliner. No comeback story to tell voters, because they do not have one. That is the difference in one sentence. Republicans are throwing a party because they have something to celebrate. Democrats are staying home because they do not. Midterms usually punish the party in power. Trump just decided to rewrite that rule in Texas, in front of the cameras, with the whole country watching. Buckle up. Trumpapalooza is coming, and the other side has nothing on the calendar to answer it with.show more

Backpack's recent update was incredible. They didn't push any... new features (or at least none that I noticed), but it just made the overall experience so much better and smoother. It's a good lesson for everyone who obsesses over adding new features all the time. Most of the time, making the existing product more user-friendly is far more important. I personally use Backpack for the basic things like holding assets, swapping, using apps, and connecting hardware wallets. While it's great that the wallet has stocks, trending assets, and all these other features now, honestly, I couldn't care less about most of them. But as a user, I do care about the core experience being fast, simple, and easy to use, and the basic things I use it for to just be better. Oftentimes, founders obsess over new features to acquire more users and forget the existing ones using the product. Which is also why a good retention rate >>> new users that may or may not stick. This update actually made me want to become a stickier Backpack 🎒 user.show more

The way Baba Ijesha is being celebrated right now... is part of the reason nothing ever changes. A man was convicted of molesting a 14-year-old girl, yet people are celebrating him today. A successful woman went ahead and had a baby with him, and instead of facing public criticism, they're being showered with praise. We're no longer just normalizing these things we're rewarding them. And somewhere, another man is watching and taking notes.show more

The political establishment in Australia is not entirely stupid,... they just think you are. As they lament the rise of One Nation, they pretend they don't understand it. Because if they showed us that they understand the resons, they then have to make a major admission. Hanson's rise is all their fault. Because the major parties and the faux independents have been on a unity ticket on all of the big problems they have jointly caused for decades. They can’t hide from the messes they have caused, so now they want to blame everyone else but themselves. Today, on ABC’s Insiders, Annabel Crab belled the cat, as Karvelas did the two step crab walk. Annabel correctly diagnoses the political situation here right now. It is not a love for Hanson, or One Nation that is causing the surge, but a total lack of faith in the other offerings. It almost does not matter what Hanson says or does, because her greatest strengths are that she is there, and she is not one of them. Those are enduring traits and the more the major parties hit her, the more the media carry on about her, and the more the establishment present her as a “deplorable”, the more people they will push in her direction. It is like they are in quicksand... the more they struggle, the deeper they sink. People are growing ready for wild political change. A worsening economy and a growing collapse in social cohesion has put the nation on edge. The big end of town want to pretend everything will be fine when the latest special envoy delivers their newest report, but nothing changes. Nothing changes because nothing is supposed to change. Because the government, the opposition and their Green Teal cheer squads want things just the way they are. They didn’t just pass all of the enabling legislation for no reason. There are real beneficiaries of these things, it is just that none of the beneficiaries are the Australian people. Australians have broadly been the target of the changes made to benefit foreign interests, the political class and major corporations. We have been targeted for so long it is impossible not to feel the cross-hairs of the scope resting on our forehead. Hanson and her team simply have to talk about that feeling... they don’t even have to have a solution. Because when the establishment continues to pretend the problems don't exist, just acknowledging the pain is enough to earn a vote. Annabel nails this sentiment in just a few words. Right as Karvelas changes the subject, because it is not that this isn’t obvious, it is because Karvelas is there to cover it up, and hit Hanson’s credibility again. Fuelling the vicious cycle of the rise of the outsider. Unless something significant changes in the establishment, and I don’t expect it will, there will be major upheaval at the next election. Most people will not be voting for their favourite party or person, they will primarily be voting against the status quo, because in their minds, it could not possibly be worse than what we have experienced for decades... but it just might be a little bit better. And that is a risk worth taking. After all most of us like a punt. I just want Australia back.show more