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Did you know staking CORE can boost what your Bitcoin earns? Bitcoin holders can earn CORE rewards on Core DAO 🔶 by timelocking coins, locking them on the Bitcoin network for a set period without giving up custody. The rate those coins earn is not fixed. Dual Staking sorts... show more

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22,424 次观看 • 28 天前 •via X (Twitter)

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🚨 BREAKING: CORE DAO OUTLINES AI-POWERED BITCOIN YIELD AUTOMATION AS PART OF ITS 2026 BTCFI ROADMAP The "Bitcoin Power Grid" strategy includes Asset Management Protocols where AI agents manage BTC yield strategies 24/7, routing capital across staking, lending, and structured products. Core DAO 🔶 uses its Satoshi Plus consensus to enable self-custodial BTC staking, and already has a Bitcoin yield ETP trading on the London Stock Exchange.

🚨 BREAKING: CORE DAO OUTLINES AI-POWERED BITCOIN YIELD AUTOMATION AS PART OF ITS 2026 BTCFI ROADMAP The "Bitcoin Power Grid" strategy includes Asset Management Protocols where AI agents manage BTC yield strategies 24/7, routing capital across staking, lending, and structured products. Core DAO 🔶 uses its Satoshi Plus consensus to enable self-custodial BTC staking, and already has a Bitcoin yield ETP trading on the London Stock Exchange.

BSCN

20,259 次观看 • 7 个月前

Introducing Zest Protocol Stacks Vaults, Automated yield strategies for Bitcoin-native finance. Launching alongside the stacks.btc Bitcoin Staking upgrade. Stacks Vaults mark the evolution of Zest Protocol from a lending market into yield infrastructure. Until now, earning optimised yield on Stacks meant actively managing positions across markets, moving collateral, monitoring rates, and rebalancing by hand. Stacks Vaults changes that: deposit a single asset, select a strategy, and the vault handles the mechanics in the background. This is the yield toolkit for Stacks. Every yield source in the ecosystem becomes a strategy that can be automated and offered as a single-deposit product. The first vault is a levered Bitcoin Staking vault, built around the liquid staking Bitcoin token Stacking DAO launches with the Stacks Bitcoin Staking upgrade. How the levered Bitcoin Staking vault works: 🟠 One deposit, one position. Deposit BTC, sBTC, or stBTC directly into the vault. You hold a single position while the strategy runs itself. 🟠 Automated leverage. The vault uses your stBTC as collateral to borrow sBTC, stakes the borrowed sBTC into stBTC, and repeats the process. Target yield: 6 to 8%, purely derived from Bitcoin Staking on Stacks. 🟠 Non-custodial. The vault contract can only execute strategy actions on Zest Protocol's lending markets. It cannot move funds anywhere else, and only the user can withdraw their position. No one, including Zest Protocol, can access vault assets. 🟠 Built on live lending markets. The vault runs on Zest Protocol's existing markets: two years in production, over a thousand liquidations processed without bad debt. 🟠 Continuous monitoring. Zest Protocol manages the strategy and monitors the position automatically. No manual rebalancing, no juggling markets. 🟠 First of many strategies. The stBTC looping vault is the first, not the last. STX-based strategies, stablecoin and credit-based strategies, and structured yield products can all be built on the same foundation. External curators will be able to manage their own strategies on Stacks Vaults. Lending markets were the foundation. Vaults are what gets built on top. Stacks Vaults launch alongside stBTC, right before Stacks Bitcoin Staking goes live. Note: Stacks Vaults are separate from Bitcoin Collateral Vaults, Zest Protocol's upcoming flagship product that allows users to borrow against native BTC on any chain (e.g. Ethereum). More updates on Bitcoin Collateral Vaults follow shortly. Follow Zest Protocol on X or subscribe to our newsletter to be notified when levered Bitcoin Staking goes live.

Introducing Zest Protocol Stacks Vaults, Automated yield strategies for Bitcoin-native finance. Launching alongside the stacks.btc Bitcoin Staking upgrade. Stacks Vaults mark the evolution of Zest Protocol from a lending market into yield infrastructure. Until now, earning optimised yield on Stacks meant actively managing positions across markets, moving collateral, monitoring rates, and rebalancing by hand. Stacks Vaults changes that: deposit a single asset, select a strategy, and the vault handles the mechanics in the background. This is the yield toolkit for Stacks. Every yield source in the ecosystem becomes a strategy that can be automated and offered as a single-deposit product. The first vault is a levered Bitcoin Staking vault, built around the liquid staking Bitcoin token Stacking DAO launches with the Stacks Bitcoin Staking upgrade. How the levered Bitcoin Staking vault works: 🟠 One deposit, one position. Deposit BTC, sBTC, or stBTC directly into the vault. You hold a single position while the strategy runs itself. 🟠 Automated leverage. The vault uses your stBTC as collateral to borrow sBTC, stakes the borrowed sBTC into stBTC, and repeats the process. Target yield: 6 to 8%, purely derived from Bitcoin Staking on Stacks. 🟠 Non-custodial. The vault contract can only execute strategy actions on Zest Protocol's lending markets. It cannot move funds anywhere else, and only the user can withdraw their position. No one, including Zest Protocol, can access vault assets. 🟠 Built on live lending markets. The vault runs on Zest Protocol's existing markets: two years in production, over a thousand liquidations processed without bad debt. 🟠 Continuous monitoring. Zest Protocol manages the strategy and monitors the position automatically. No manual rebalancing, no juggling markets. 🟠 First of many strategies. The stBTC looping vault is the first, not the last. STX-based strategies, stablecoin and credit-based strategies, and structured yield products can all be built on the same foundation. External curators will be able to manage their own strategies on Stacks Vaults. Lending markets were the foundation. Vaults are what gets built on top. Stacks Vaults launch alongside stBTC, right before Stacks Bitcoin Staking goes live. Note: Stacks Vaults are separate from Bitcoin Collateral Vaults, Zest Protocol's upcoming flagship product that allows users to borrow against native BTC on any chain (e.g. Ethereum). More updates on Bitcoin Collateral Vaults follow shortly. Follow Zest Protocol on X or subscribe to our newsletter to be notified when levered Bitcoin Staking goes live.

Zest Protocol

28,549 次观看 • 1 个月前

dualCORE is officially launched on Core DAO 🔶 mainnet The First Liquid Dual-Staking Token for your CORE assets 🔹Use only your $CORE to unlock dual-staking boosts. 🔹Earn over 📊40% APY (as of this post). 🔹Auto-compounding rewards. 🔹No Lock—Redeem anytime, instantly. 🔹Stay liquid The first public staking cap is set at 200K. It will automatically increase based on market conditions and available yield strategies. This cap helps maintain high APY for early participants. FCFS. Here’s how to join in: One key step to prepare for what’s next—don’t miss out! 👇

dualCORE is officially launched on Core DAO 🔶 mainnet The First Liquid Dual-Staking Token for your CORE assets 🔹Use only your $CORE to unlock dual-staking boosts. 🔹Earn over 📊40% APY (as of this post). 🔹Auto-compounding rewards. 🔹No Lock—Redeem anytime, instantly. 🔹Stay liquid The first public staking cap is set at 200K. It will automatically increase based on market conditions and available yield strategies. This cap helps maintain high APY for early participants. FCFS. Here’s how to join in: One key step to prepare for what’s next—don’t miss out! 👇

b14g

18,581 次观看 • 1 年前

Get Ready for Satoshi Perpetual Exchange 📈 1/2 We’ve acquired NLX ☢️ Trade with 50x, a Bitcoin-backed Perpetuals Exchange on Core DAO 🔶 , and it’s now becoming Satoshi Perpetual Exchange (Satoshi Perps)! 💥 What’s Next? - Beta launch this month. - Trade anything with 250X leverage using Bitcoin or Bitcoin derivatives. - Earn rewards in Bitcoin as a liquidity provider. This is just the first step in our mission to drive mass adoption of Web3. Stay tuned! 📚 For Details:

Get Ready for Satoshi Perpetual Exchange 📈 1/2 We’ve acquired NLX ☢️ Trade with 50x, a Bitcoin-backed Perpetuals Exchange on Core DAO 🔶 , and it’s now becoming Satoshi Perpetual Exchange (Satoshi Perps)! 💥 What’s Next? - Beta launch this month. - Trade anything with 250X leverage using Bitcoin or Bitcoin derivatives. - Earn rewards in Bitcoin as a liquidity provider. This is just the first step in our mission to drive mass adoption of Web3. Stay tuned! 📚 For Details:

Satoshi App

49,610 次观看 • 1 年前

April 2025, the run-up to the merge of the OP_RETURN uncap. This is Bitcoin Magazine's coverage of the maintainer who six weeks later would merge the uncap. It closed with the interviewer (Shinobi) offering an apology, on behalf of the community, for the criticism Bitcoin Core was receiving. He framed the critics as "retards", consistent with the framing used by Core in the weeks and months that followed: critics were "garbage", "trolls", "parasites", "brigaders", "conspiracy theorists" etc. What is this type of journalism called?

April 2025, the run-up to the merge of the OP_RETURN uncap. This is Bitcoin Magazine's coverage of the maintainer who six weeks later would merge the uncap. It closed with the interviewer (Shinobi) offering an apology, on behalf of the community, for the criticism Bitcoin Core was receiving. He framed the critics as "retards", consistent with the framing used by Core in the weeks and months that followed: critics were "garbage", "trolls", "parasites", "brigaders", "conspiracy theorists" etc. What is this type of journalism called?

hodlonaut #BIP-110

14,809 次观看 • 3 个月前

My Bitcoin thesis is simple. The only thing I can currently see making Bitcoin bottom sooner is the passage of the CLARITY Act. If that does not happen, I think Bitcoin is likely to head lower. I already have a Bitcoin long from $58,000, which filled at the exact bottom. I will keep this trade open regardless. Even though I expect Bitcoin to move lower, I do not want to trade around this position completely. I do not want to risk missing the bear market bottom if Bitcoin bottoms earlier than expected, possibly because of the CLARITY Act. If Bitcoin does move lower, I have millions of dollars in orders waiting to be filled. If those orders fill, I will build what will be, by far, the largest Bitcoin long position of my life. I will also keep my current trade open. You can pause the video to see all my exact entries. Everything is fully transparent.

My Bitcoin thesis is simple. The only thing I can currently see making Bitcoin bottom sooner is the passage of the CLARITY Act. If that does not happen, I think Bitcoin is likely to head lower. I already have a Bitcoin long from $58,000, which filled at the exact bottom. I will keep this trade open regardless. Even though I expect Bitcoin to move lower, I do not want to trade around this position completely. I do not want to risk missing the bear market bottom if Bitcoin bottoms earlier than expected, possibly because of the CLARITY Act. If Bitcoin does move lower, I have millions of dollars in orders waiting to be filled. If those orders fill, I will build what will be, by far, the largest Bitcoin long position of my life. I will also keep my current trade open. You can pause the video to see all my exact entries. Everything is fully transparent.

Crypto Rover

91,511 次观看 • 2 个月前

We’re thrilled to announce that Bitcoin is now finally live on our cross-chain bridge, Router Nitro! Try it out: With this integration, you can now: - Swap any asset from the Ethereum chain to BTC on the Bitcoin network - Swap BTC from the Bitcoin network to WBTC on the Ethereum chain Experience unmatched speed and cost-efficiency—all in a fully decentralized, trustless way with no custodians involved! Getting started is simple: - You can use any EVM-compatible wallet when you’re going from Ethereum to Bitcoin - When going from Bitcoin to Ethereum, to have a smooth and easy experience you will need XDEFI wallet! Our roadmap includes adding more chains, wallets, and assets to support Bitcoin bridging. Besides, Router is developing a solution to enable users to seamlessly transfer BTC from Bitcoin to any token on other chains. In upcoming upgrades, users will be able to buy any token they want using Bitcoin. Bitcoin holds unmatched stability and liquidity in the crypto world and with this integration, Router Nitro empowers users, platforms, and developers to access Bitcoin’s liquidity across DeFi, dApps, and more—all while preserving Bitcoin’s core values. Embrace the power of BTC and start exploring Router Nitro’s new Bitcoin connectivity!

We’re thrilled to announce that Bitcoin is now finally live on our cross-chain bridge, Router Nitro! Try it out: With this integration, you can now: - Swap any asset from the Ethereum chain to BTC on the Bitcoin network - Swap BTC from the Bitcoin network to WBTC on the Ethereum chain Experience unmatched speed and cost-efficiency—all in a fully decentralized, trustless way with no custodians involved! Getting started is simple: - You can use any EVM-compatible wallet when you’re going from Ethereum to Bitcoin - When going from Bitcoin to Ethereum, to have a smooth and easy experience you will need XDEFI wallet! Our roadmap includes adding more chains, wallets, and assets to support Bitcoin bridging. Besides, Router is developing a solution to enable users to seamlessly transfer BTC from Bitcoin to any token on other chains. In upcoming upgrades, users will be able to buy any token they want using Bitcoin. Bitcoin holds unmatched stability and liquidity in the crypto world and with this integration, Router Nitro empowers users, platforms, and developers to access Bitcoin’s liquidity across DeFi, dApps, and more—all while preserving Bitcoin’s core values. Embrace the power of BTC and start exploring Router Nitro’s new Bitcoin connectivity!

Router Protocol

84,347 次观看 • 1 年前

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:

Adam Livingston

104,266 次观看 • 2 个月前

I just want to know how all the Crypto Bros feel about Trump right now, given that Bitcoin is trading below the price it was before the election, and down significantly from Inauguration. Not to mention the amount of money you all lost in Melania and Trump coins, that the Trumps scammed you all for. For the record I have had a significant amount of Bitcoin since 2012, but I didn't vote for Trump.

I just want to know how all the Crypto Bros feel about Trump right now, given that Bitcoin is trading below the price it was before the election, and down significantly from Inauguration. Not to mention the amount of money you all lost in Melania and Trump coins, that the Trumps scammed you all for. For the record I have had a significant amount of Bitcoin since 2012, but I didn't vote for Trump.

Brian Krassenstein

386,973 次观看 • 7 个月前

32 coins. $2.5 million. 0.0038% of the stack. That is the sale the market is now blaming for a $3 billion liquidation cascade and a Bitcoin price nearly halved from its peak. A $2.5 million sale cannot move a trillion-dollar asset. It is a rounding error. In the same week, Strategy raised $128.3 million selling its own stock, 50 times larger. It did not need to sell coins. It chose to. The crash has real drivers: a record 13-day run of ETF outflows, a rotation into AI, a Fed in no hurry to cut. But the accelerant the market keeps naming is 32 coins. The coins were never the point. The signal was. And the signal was deliberate. Michael Saylor told the Q1 call he would “probably sell some bitcoin to pay a dividend just to inoculate the market and send the message that we did it.” His logic was sound: prove the Bitcoin is usable capital, not a vault that can never be opened, and show he is not a prisoner of his own vow. His “never sell” always meant be a net accumulator. He is up more than 170,000 coins this year against the 32 he sold, and he scores himself on one number, Bitcoin per share. By that math, defending the dividend with a sliver was discipline, not distress. The market read it as the opposite. The dose became the catalyst now blamed for the crash. The inoculation became the infection. Because what changed was never Strategy’s solvency. It was its identity. The market has stopped pricing a permanent holder and started pricing what the filings always described: a state-contingent allocator now funding its own preferred dividends, at the margin, from the Bitcoin beneath them. And the buffer is thinning. The cash reserve behind those dividends has fallen from $2.25 billion to $900 million. Against a preferred bill near $1.7 billion a year, that is roughly 6 months of runway. Be precise. This is not a death spiral. Strategy still holds 843,706 Bitcoin, worth more than $50 billion even now, and has more funding levers than almost any company alive. A real rally makes this a footnote, and the sell-side calling the reaction overdone is not wrong on the fundamentals. But the regime has changed. The question is no longer Bitcoin’s price on any given day. It is the cadence of the dividend declarations and the path of that reserve. Bitcoin did not acquire a yield. The wrapper acquired liabilities. This week the market learned that difference costs far more than 32 coins.

32 coins. $2.5 million. 0.0038% of the stack. That is the sale the market is now blaming for a $3 billion liquidation cascade and a Bitcoin price nearly halved from its peak. A $2.5 million sale cannot move a trillion-dollar asset. It is a rounding error. In the same week, Strategy raised $128.3 million selling its own stock, 50 times larger. It did not need to sell coins. It chose to. The crash has real drivers: a record 13-day run of ETF outflows, a rotation into AI, a Fed in no hurry to cut. But the accelerant the market keeps naming is 32 coins. The coins were never the point. The signal was. And the signal was deliberate. Michael Saylor told the Q1 call he would “probably sell some bitcoin to pay a dividend just to inoculate the market and send the message that we did it.” His logic was sound: prove the Bitcoin is usable capital, not a vault that can never be opened, and show he is not a prisoner of his own vow. His “never sell” always meant be a net accumulator. He is up more than 170,000 coins this year against the 32 he sold, and he scores himself on one number, Bitcoin per share. By that math, defending the dividend with a sliver was discipline, not distress. The market read it as the opposite. The dose became the catalyst now blamed for the crash. The inoculation became the infection. Because what changed was never Strategy’s solvency. It was its identity. The market has stopped pricing a permanent holder and started pricing what the filings always described: a state-contingent allocator now funding its own preferred dividends, at the margin, from the Bitcoin beneath them. And the buffer is thinning. The cash reserve behind those dividends has fallen from $2.25 billion to $900 million. Against a preferred bill near $1.7 billion a year, that is roughly 6 months of runway. Be precise. This is not a death spiral. Strategy still holds 843,706 Bitcoin, worth more than $50 billion even now, and has more funding levers than almost any company alive. A real rally makes this a footnote, and the sell-side calling the reaction overdone is not wrong on the fundamentals. But the regime has changed. The question is no longer Bitcoin’s price on any given day. It is the cadence of the dividend declarations and the path of that reserve. Bitcoin did not acquire a yield. The wrapper acquired liabilities. This week the market learned that difference costs far more than 32 coins.

Shanaka Anslem Perera ⚡

165,572 次观看 • 3 个月前

The biggest Bitcoin miners on earth are quietly walking away from mining Bitcoin, and the reason is not the one everyone keeps repeating. They are not fleeing a dead business. They lost an auction for their own power, and the winner was artificial intelligence. Start with the brutal arithmetic. It now costs the average public miner around $80,000 in cash to produce a single Bitcoin, and for stretches of this year $BTC traded below that. The most efficient operators on the cheapest power still clear a margin, but an estimated 15 to 20 percent of the global fleet is mining at a loss right now, burning more in power than the coins are worth the second they are minted. Three straight downward difficulty adjustments earlier this year, the first such streak since 2022, were the footprint of machines going dark. That looks like a simple story of a broken business until you see the number that explains the exodus. The same megawatt of power that earns a Bitcoin miner roughly $1 million a year earns between $10 and $20 million a year hosting AI compute. Ten to twenty times more, for the identical electricity, substation, and cooling. What made industrial miners valuable was never the mining. It was the power contracts, the land, the grid interconnects. AI walked in and bid an order of magnitude higher for exactly those assets. Mining did not fail. It got outbid for its own infrastructure. When Core Scientific runs its BTC segment at a negative margin while its AI colocation business prints money, the decision writes itself. CoinShares estimates listed miners could pull up to 70 percent of their revenue from AI by year end, up from about 30 percent. The power is being repriced to its highest use, and Bitcoin lost the bidding. If the giants leave, what happens to the network they secured? The doom posts assume it weakens. It does not, because Bitcoin has a self-healing reflex written into its core. When miners switch off, blocks slow, and within two weeks difficulty automatically drops, which makes mining cheaper and more profitable for everyone still running. The security does not vanish, it relocates, and you can already see where. State-backed pools are appearing, with one Gulf operator reportedly standing up a national pool near 3 percent of global hashrate, alongside private fleets and the handful of public miners like Marathon still choosing to buy Bitcoin rather than lease their power away. The network even hit an all-time high above one zettahash this year as the pivot accelerated. It does not need any particular miner. It needs someone, somewhere, for whom the math still works, and cheap stranded power has no shortage of those. But there is a deeper timer here, and the AI pivot just exposed it. Today miners earn almost everything from the block subsidy and almost nothing from fees, often under one percent of revenue on a quiet day. That subsidy halves again in 2028, and every four years after, marching toward zero. For Bitcoin to pay for its own security forever, fees eventually have to replace it. The open question is whether they can, and the evidence cuts both ways. On busy days, during token launches and inscription waves, fees have already spiked past 15 percent of revenue, and in 2024 some blocks earned more in fees than the entire subsidy. The capacity is there in bursts. Whether bursts become a baseline is the single most important unanswered question in Bitcoin. The AI exodus did not create that question. It pulled the cover off it years early, and showed how fast capital abandons hashing the moment something pays more. So the honest read is not that AI kills Bitcoin mining. It is stranger than that. AI is the first bidder rich enough to reveal what Bitcoin's security was always quietly worth, and what it will cost to keep once the free coins stop coming. The miners are not abandoning a sinking ship. They are selling the deck to a higher bidder while the same clock everyone forgot about keeps ticking underneath.

The biggest Bitcoin miners on earth are quietly walking away from mining Bitcoin, and the reason is not the one everyone keeps repeating. They are not fleeing a dead business. They lost an auction for their own power, and the winner was artificial intelligence. Start with the brutal arithmetic. It now costs the average public miner around $80,000 in cash to produce a single Bitcoin, and for stretches of this year $BTC traded below that. The most efficient operators on the cheapest power still clear a margin, but an estimated 15 to 20 percent of the global fleet is mining at a loss right now, burning more in power than the coins are worth the second they are minted. Three straight downward difficulty adjustments earlier this year, the first such streak since 2022, were the footprint of machines going dark. That looks like a simple story of a broken business until you see the number that explains the exodus. The same megawatt of power that earns a Bitcoin miner roughly $1 million a year earns between $10 and $20 million a year hosting AI compute. Ten to twenty times more, for the identical electricity, substation, and cooling. What made industrial miners valuable was never the mining. It was the power contracts, the land, the grid interconnects. AI walked in and bid an order of magnitude higher for exactly those assets. Mining did not fail. It got outbid for its own infrastructure. When Core Scientific runs its BTC segment at a negative margin while its AI colocation business prints money, the decision writes itself. CoinShares estimates listed miners could pull up to 70 percent of their revenue from AI by year end, up from about 30 percent. The power is being repriced to its highest use, and Bitcoin lost the bidding. If the giants leave, what happens to the network they secured? The doom posts assume it weakens. It does not, because Bitcoin has a self-healing reflex written into its core. When miners switch off, blocks slow, and within two weeks difficulty automatically drops, which makes mining cheaper and more profitable for everyone still running. The security does not vanish, it relocates, and you can already see where. State-backed pools are appearing, with one Gulf operator reportedly standing up a national pool near 3 percent of global hashrate, alongside private fleets and the handful of public miners like Marathon still choosing to buy Bitcoin rather than lease their power away. The network even hit an all-time high above one zettahash this year as the pivot accelerated. It does not need any particular miner. It needs someone, somewhere, for whom the math still works, and cheap stranded power has no shortage of those. But there is a deeper timer here, and the AI pivot just exposed it. Today miners earn almost everything from the block subsidy and almost nothing from fees, often under one percent of revenue on a quiet day. That subsidy halves again in 2028, and every four years after, marching toward zero. For Bitcoin to pay for its own security forever, fees eventually have to replace it. The open question is whether they can, and the evidence cuts both ways. On busy days, during token launches and inscription waves, fees have already spiked past 15 percent of revenue, and in 2024 some blocks earned more in fees than the entire subsidy. The capacity is there in bursts. Whether bursts become a baseline is the single most important unanswered question in Bitcoin. The AI exodus did not create that question. It pulled the cover off it years early, and showed how fast capital abandons hashing the moment something pays more. So the honest read is not that AI kills Bitcoin mining. It is stranger than that. AI is the first bidder rich enough to reveal what Bitcoin's security was always quietly worth, and what it will cost to keep once the free coins stop coming. The miners are not abandoning a sinking ship. They are selling the deck to a higher bidder while the same clock everyone forgot about keeps ticking underneath.

Shanaka Anslem Perera ⚡

90,812 次观看 • 3 个月前

The thing no one noticed: There’s a pricing lag between betting on Bitcoin and trading Bitcoin perps. That gap usually disappears once market makers close it. Until then, you can watch both markets side by side, see the dislocation in real time, and trade it. This is exactly the kind of edge most traders never even look for.

The thing no one noticed: There’s a pricing lag between betting on Bitcoin and trading Bitcoin perps. That gap usually disappears once market makers close it. Until then, you can watch both markets side by side, see the dislocation in real time, and trade it. This is exactly the kind of edge most traders never even look for.

Alex Mason 👁△

43,926 次观看 • 2 个月前

Stake $OVR, Earn $UOMI – Staking Launches on December 10th The $OVR staking program is coming exclusively on Base on December 10th, giving you the opportunity to earn daily $UOMI rewards by staking your $OVR tokens. 🔹 How to get started: - Buy $OVR on Base or bridge your tokens from Ethereum to Base using a trusted bridge: - Be among the first to stake your $OVR and maximize your share of the $UOMI rewards pool. With no lock-up periods, you’ll maintain full control of your tokens while earning rewards daily. Mark your calendar and get ready to be part of the future of decentralized AI. Stay tuned for more details! 👀

Stake $OVR, Earn $UOMI – Staking Launches on December 10th The $OVR staking program is coming exclusively on Base on December 10th, giving you the opportunity to earn daily $UOMI rewards by staking your $OVR tokens. 🔹 How to get started: - Buy $OVR on Base or bridge your tokens from Ethereum to Base using a trusted bridge: - Be among the first to stake your $OVR and maximize your share of the $UOMI rewards pool. With no lock-up periods, you’ll maintain full control of your tokens while earning rewards daily. Mark your calendar and get ready to be part of the future of decentralized AI. Stay tuned for more details! 👀

Over the Reality 🌐

155,324 次观看 • 1 年前

🔥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.

Adam Livingston

61,595 次观看 • 4 个月前

RECOMMENDATION: $pWBTC (Wrapped Bitcoin on PulseChain) If you’re looking for a way to hold Bitcoin that’s smarter and more versatile, "Wrapped Bitcoin" on Pulsechain, known as $pWBTC, might be it. Just buy ONE at a minimum, tuck it away and forget about it. This is not like other coins, you don't need thousands or millions. Here is why... With a fixed supply capped at just 154,410 tokens, it’s scarcer than Bitcoin itself and even more exclusive than the holdings of industry giants. This rarity isn’t just a number; it’s a potential catalyst for explosive value growth as demand climbs. Built on PulseChain.com Ethereum fork including ERC20s, a smart contract platform, pWBTC goes beyond Bitcoin’s limitations, letting you tap into DeFi opportunities like yield farming or liquidity provision to earn extra income, all while offering privacy tools like mixers and zero knowledge proofs for discretion Bitcoin's transparent ledger cannot match. Compare that to "Wrapped Bitcoin" on Ethereum, or WBTC, and the differences sharpen. Launched in 2019, WBTC mirrors Bitcoin’s price through every twist from the 2020 crash to the 2021 peak but it is shackled to Ethereum’s ecosystem. High gas fees and reliance on institutional custodians weigh it down, making it less agile. $pWBTC, on the other hand, thrives on PulseChain’s ultra-low fee network, unshackled from such burdens. You can trade or leverage it in DeFi without watching profits erode to transaction costs, a practical edge that is hard to ignore. At its core, $pWBTC fuses Bitcoin’s enduring appeal with DeFi’s dynamic flexibility, all while staying true to a decentralized spirit. It is not just a token, it is a rethink of what a Bitcoin like asset can be, blending scarcity, utility, and independence into something fresh. If you are after an intelligent way to engage with crypto that offers both functionality and growth potential, $pWBTC deserves a closer look. Think about it. Bitcoin is priced at $100,000+, WBTC is nearly identical, and $pWBTC is still trading below $750.00 dollars. Buy ONE at a minimum. The market has not caught on yet, but when it does, the upside may be unlike anything we have seen before. If you value my perspective and trust my judgement, I encourage you to consider adding it to your stack. 🔊 Song: Taco "Puttin On The Ritz"

RECOMMENDATION: $pWBTC (Wrapped Bitcoin on PulseChain) If you’re looking for a way to hold Bitcoin that’s smarter and more versatile, "Wrapped Bitcoin" on Pulsechain, known as $pWBTC, might be it. Just buy ONE at a minimum, tuck it away and forget about it. This is not like other coins, you don't need thousands or millions. Here is why... With a fixed supply capped at just 154,410 tokens, it’s scarcer than Bitcoin itself and even more exclusive than the holdings of industry giants. This rarity isn’t just a number; it’s a potential catalyst for explosive value growth as demand climbs. Built on PulseChain.com Ethereum fork including ERC20s, a smart contract platform, pWBTC goes beyond Bitcoin’s limitations, letting you tap into DeFi opportunities like yield farming or liquidity provision to earn extra income, all while offering privacy tools like mixers and zero knowledge proofs for discretion Bitcoin's transparent ledger cannot match. Compare that to "Wrapped Bitcoin" on Ethereum, or WBTC, and the differences sharpen. Launched in 2019, WBTC mirrors Bitcoin’s price through every twist from the 2020 crash to the 2021 peak but it is shackled to Ethereum’s ecosystem. High gas fees and reliance on institutional custodians weigh it down, making it less agile. $pWBTC, on the other hand, thrives on PulseChain’s ultra-low fee network, unshackled from such burdens. You can trade or leverage it in DeFi without watching profits erode to transaction costs, a practical edge that is hard to ignore. At its core, $pWBTC fuses Bitcoin’s enduring appeal with DeFi’s dynamic flexibility, all while staying true to a decentralized spirit. It is not just a token, it is a rethink of what a Bitcoin like asset can be, blending scarcity, utility, and independence into something fresh. If you are after an intelligent way to engage with crypto that offers both functionality and growth potential, $pWBTC deserves a closer look. Think about it. Bitcoin is priced at $100,000+, WBTC is nearly identical, and $pWBTC is still trading below $750.00 dollars. Buy ONE at a minimum. The market has not caught on yet, but when it does, the upside may be unlike anything we have seen before. If you value my perspective and trust my judgement, I encourage you to consider adding it to your stack. 🔊 Song: Taco "Puttin On The Ritz"

Rackham Rishel

23,127 次观看 • 1 年前

Unlock the alchemy of your assets with Mage Finance 🧙‍♂️ 🧙🏻‍♂️Mage Finance introduces a pioneering approach to Bitcoin lending through its development on Merlin Chain and is powered by Pyth. Learn more about our integration below: ℹ️ About Mage Finance Mage Finance represents a strategic development in the Bitcoin lending space, offering users a new way to leverage their Bitcoin assets within the DeFi ecosystem. The Mage Protocol leverages MerlinChain's zk-rollup technology to offer a decentralized Bitcoin money market where users can lend, borrow, and earn with ease. This facilitates the connection of Bitcoin with the broader DeFi ecosystem, enhancing capital efficiency. The Mage Chain, recognized as the first Bitcoin L3 appchain, focuses on improving interoperability and security within the CeFi sector through advanced technologies like zk-DID. 🔮 Mage Finance is powered by Pyth Mage Finance leverages Pyth Price Feeds for real-time and high quality financial data. This choice supports Mage Finance's aim to maintain precision and reliability in its platform, safeguarding against potential market manipulation.

Unlock the alchemy of your assets with Mage Finance 🧙‍♂️ 🧙🏻‍♂️Mage Finance introduces a pioneering approach to Bitcoin lending through its development on Merlin Chain and is powered by Pyth. Learn more about our integration below: ℹ️ About Mage Finance Mage Finance represents a strategic development in the Bitcoin lending space, offering users a new way to leverage their Bitcoin assets within the DeFi ecosystem. The Mage Protocol leverages MerlinChain's zk-rollup technology to offer a decentralized Bitcoin money market where users can lend, borrow, and earn with ease. This facilitates the connection of Bitcoin with the broader DeFi ecosystem, enhancing capital efficiency. The Mage Chain, recognized as the first Bitcoin L3 appchain, focuses on improving interoperability and security within the CeFi sector through advanced technologies like zk-DID. 🔮 Mage Finance is powered by Pyth Mage Finance leverages Pyth Price Feeds for real-time and high quality financial data. This choice supports Mage Finance's aim to maintain precision and reliability in its platform, safeguarding against potential market manipulation.

Pyth Network 🔮

27,149 次观看 • 2 年前

Just for those who don't know: Nomad The Savior is not the savior you think he is Let me tell you about his achievements over the last 10 months… He became very active in the discord again last April when he saw that $WZRD was pumping. He then made several attempts to dilute the $WZRD holders He made the BITCOIN•WITCH•COIN rune and started airdropping it to BW holders 3 months ago He said that BW holders had to hold this airdrop to receive 10k Bitcoin Wizard WL He has still not airdropped all of the BITCOIN•WITCH•COIN to BW holders He started muting $WZRD and BW OGs for weeks, splitting the community into two camps He was given the role of CEO after being the worst team member a project has ever seen He claims that he coined the Magic Internet Money slogan, which is a lie.... Eric Vorhees coined it on the Bitcoin Talk Forum in 2013. Bitcoin Wizard - mavensbot 🧙🏻‍♂️ talked about this in one of Farokh's spaces (clip below) He has etched the rune MAGIC•INTERNET•MONEY•MIM and is now starting to dilute the real rune and the $WZRD community again He is trying to destroy $WZRD He is trying to destroy Magic•Internet•Money He is trying to destroy the Bitcoin Wizard If you support this guy, you are not a real bitcoiner nor do you believe in the success of this space.

Just for those who don't know: Nomad The Savior is not the savior you think he is Let me tell you about his achievements over the last 10 months… He became very active in the discord again last April when he saw that $WZRD was pumping. He then made several attempts to dilute the $WZRD holders He made the BITCOIN•WITCH•COIN rune and started airdropping it to BW holders 3 months ago He said that BW holders had to hold this airdrop to receive 10k Bitcoin Wizard WL He has still not airdropped all of the BITCOIN•WITCH•COIN to BW holders He started muting $WZRD and BW OGs for weeks, splitting the community into two camps He was given the role of CEO after being the worst team member a project has ever seen He claims that he coined the Magic Internet Money slogan, which is a lie.... Eric Vorhees coined it on the Bitcoin Talk Forum in 2013. Bitcoin Wizard - mavensbot 🧙🏻‍♂️ talked about this in one of Farokh's spaces (clip below) He has etched the rune MAGIC•INTERNET•MONEY•MIM and is now starting to dilute the real rune and the $WZRD community again He is trying to destroy $WZRD He is trying to destroy Magic•Internet•Money He is trying to destroy the Bitcoin Wizard If you support this guy, you are not a real bitcoiner nor do you believe in the success of this space.

Magic Internet Money

23,773 次观看 • 1 年前

🚨 BITCOIN’S DEATH CROSS IS BUILDING THE BOTTOM Bitcoin just printed its first death cross in three years. Most traders see a death cross and assume the worst is still ahead. Previous cycles showed the opposite. This signal appeared during the final phase of bottom formation and preceded some of Bitcoin’s strongest bullish reversals. This is not Bitcoin entering a new collapse. This is Bitcoin quietly building the base for the next cycle. A bottom is not one candle. It is a process that destroys confidence before the trend reverses. We are not waiting for the bottom. We are already trading inside its formation. When the reversal is confirmed, I will post it here first. Follow and turn notifications on.

🚨 BITCOIN’S DEATH CROSS IS BUILDING THE BOTTOM Bitcoin just printed its first death cross in three years. Most traders see a death cross and assume the worst is still ahead. Previous cycles showed the opposite. This signal appeared during the final phase of bottom formation and preceded some of Bitcoin’s strongest bullish reversals. This is not Bitcoin entering a new collapse. This is Bitcoin quietly building the base for the next cycle. A bottom is not one candle. It is a process that destroys confidence before the trend reverses. We are not waiting for the bottom. We are already trading inside its formation. When the reversal is confirmed, I will post it here first. Follow and turn notifications on.

Nonzee

20,298 次观看 • 24 天前

🚀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:

Adam Livingston

66,707 次观看 • 4 个月前