.Jack Mallers explains why he questioned Saylor on MNAV and dilution at Bitcoin Prague. "If there's no definitions to any of these things, we can't have a conversation."

needs to focus on creating a business plan for his new company 21 capital and stop worrying about other companies, start thinking about his own shareholders that have been on this sinking ship since they launched. I would love to see a roadmap for 21 capital as I have a rather sizable investment allocated, to XXI, but as of right now we just have a shell of a company with no roadmap. I love what Jack has done for the bitcoin space and from all his interviews, he seems to be a stand-up genuinely honest individual, but I think it’s time to shit or get off the pot.

@jackmallers Jack’s stock is down 83 percent over the last year and he’s out talking about @saylor. Unreal, u can’t make this crap up. What a joke.

@jackmallers The annoying part is that @saylor doesn’t own the definitions! Jack isn’t wrong, but he sounds like a petulant child complaining to Dad…

There is a definition though. It's been articulated, but there is nuance between market cap, enterprise value, and CEBE. The accounting profession has tons of things like this where you get different numbers because of lots of different inputs. Sorry it can't be condensed into a 10 word description 100% of the time.

@jackmallers $XXI merged on December 9th. It is down 54% since then. $MSTR is down 38% in the same time frame. It's a bear market, I get both should be down, but only one company has actually acquired Bitcoin this year while the other has acquired 0 while losing more shareholder value.

@jackmallers I’m Still waiting on XXI’s strategy. At least Saylor has one. I don’t want to sell my XXI stock but it’s not MSTR/STRK/STRC or ASST/SATA as my XXI is sitting idle. BTC Accumulation? BTC Products? I’m hoping for a big announcement soon

Mnav is simple BTC yield is simple, the whole scheme of $MSTR is simple, their failure, was also simple, they didn't buy 1m BTC at $1000 or less. They became the market and now they are merely nothing more than the BOJ. Mnav is dilution of shareholders, BTC yield is diversion to said dilution, Negative Convexity is what will finish them off. Take it from someone who spent decades as a fixed income arb.

Michael Saylor’s full answer to Jack Mallers at BTC Prague: mNAV is just one metric. Issuing equity for cash/BTC isn’t dilution — it expands the capital structure and gives shareholders more assets. A $1B company raising $100M doesn’t dilute; it grows to $1.1B. “Swapping equity for Bitcoin strengthens the balance sheet.” Leveraged Bitcoin treasury masterclass. #Bitcoin #MSTR

@jackmallers Why would he want to have a conversation when his mind is made up?

The game of “money” has always been a game of “hiding the sausage” via the vernacular: manipulating language to misrepresent. That is the issue @jackmallers is bringing to the surface. It is a fair ask. This is no different than the governments gaslighting their populations into believe monetary inflation is accurately measured by CPI. It is not. Monetary inflation is best measured by monetary creation such as M2 (broad monetary creation). I am with @jackmallers, something smells funny. I am not a “certified financial engineer” but I am 58yrs old and well experienced in business. Something feels “off”. I could just be a retard in way over my pay-grade. 🤷‍♂️

@jackmallers That question started the beginning of the end for STRC

@jackmallers Have him stop having conversation and buy one sat at least!

@jackmallers

@jackmallers ill take 100 saylors and less jack never did shit real exit liquidy for trump admin mallers fuck mallers and his fud long live @saylor

@jackmallers He seems happier than ever ♥️♥️♥️ I need to get my life together ❤️

@jackmallers Institutional investors just buy this complicated crap so they can justify their jobs. Obviously $BTC is better than this garbage but if the institutions just buy $BTC then their clients will say what am I even paying you for, I know how to buy Bitcoin myself.

@jackmallers Jack scammer first of all you tell us why you scammed us into xxi you m f you haven’t done shit for your share holder you broccoli b

@jackmallers DOLLARBILLS BOY

@jackmallers I think his fiancee inspires him❤️

@jackmallers KING JACK. I like your boots. I miss Dylan💋