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Metaplanet froze its executive share pool after it grew 595% through shareholder dilution "So Metaplanet performed exceptionally well, it was one of the darlings of the treasury boom." "The problem here is that they have an executive pool of shares that was pegged not at a fixed amount but...

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The Wolf Of All Streets

1,084,746 subscribers

34,861 Aufrufe • vor 1 Monat •via X (Twitter)

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14 Kommentare

Profilbild von Dog Walker 🍊
Dog Walker 🍊vor 1 Monat

This name is an absolute "DO NOT BUY" for any reason. Bankrupt these corrupt or incompetent fvcks.

Profilbild von Secom-stantino💛💙
Secom-stantino💛💙vor 1 Monat

Expanding the money supply reduce the purchasing power of a currency INFLATION That’s exactly what Metaplanet is doing and the opposite of what BTC was designed for Ironically, a inflationary BTC-TC

Profilbild von lil retard
lil retardvor 1 Monat

They have not performed well, it’s down -85% from last summer and mostly every investor has lost money. They have a $103,000 btc cost average; $500m in debt and they have purchased BTC 2x in 2026. By my count that is a massive failure.

Profilbild von Ted Trading Club
Ted Trading Clubvor 1 Monat

20% pool tied to diluted shares turns every capital raise into an executive windfall

Profilbild von Defi_Noal
Defi_Noalvor 1 Monat

20% was a backdoor carry on every issuance

Profilbild von Dario Rivas
Dario Rivasvor 1 Monat

Dylan is a scammer

Profilbild von DYOR Terminal
DYOR Terminalvor 1 Monat

The freeze caps it going forward. It doesn't retire the 273m the pool already picked up.

Profilbild von Cryptocards.one
Cryptocards.onevor 1 Monat

273.5M is huge

Profilbild von Pacha prefers Peace #Bitcoin
Pacha prefers Peace #Bitcoinvor 1 Monat

You're right. The share count 'got away' on them. Next time take 20% off the top. Somehow you may originate fewer shares, though.....

Profilbild von SH
SHvor 1 Monat

Did Metaplanet really performed exceptionally well? Compare $MPJPY pink sheet vs bitcoin:native since "genesis". - bitcoin:native fell 8% - $MPJPY fell 41% That's 5 times bigger loss. Proof is in the chart below. Just look how poorly $MPJPY performed relative to bitcoin:native.

Profilbild von FRG
FRGvor 1 Monat

Oh men crypto is so fucked…

Profilbild von ₿itcoin Surfer
₿itcoin Surfervor 1 Monat

Love the breakdown

Profilbild von vøv △
vøv △vor 1 Monat

bro treasury playbooks need audits. dilution is wild

Profilbild von Praveen Deshmukh
Praveen Deshmukhvor 1 Monat

👏👏👏

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CryptoKaleo claims MicroStrategy is trapped in an endless cycle that is hurting its shareholders "They are diluting $MSTR holders directly to pay the bill for everything else." "They're buying the Bitcoin as a mask to be able to say, 'Hey, we're still buying Bitcoin,' but they're not increasing Bitcoin per share at all. For the longest time, that was the No. 1 metric." "They can't raise money through $STRC as long as it's trading this far below par... they can't tap that facility, and that was where they were raising the majority of their capital over the past year." "The real options left are dilution via either selling $MSTR or selling Bitcoin. Either way, both are hurting shareholders."
3:11

CryptoKaleo claims MicroStrategy is trapped in an endless cycle that is hurting its shareholders "They are diluting $MSTR holders directly to pay the bill for everything else." "They're buying the Bitcoin as a mask to be able to say, 'Hey, we're still buying Bitcoin,' but they're not increasing Bitcoin per share at all. For the longest time, that was the No. 1 metric." "They can't raise money through $STRC as long as it's trading this far below par... they can't tap that facility, and that was where they were raising the majority of their capital over the past year." "The real options left are dilution via either selling $MSTR or selling Bitcoin. Either way, both are hurting shareholders."

Fibonacci 🥷

57,921 Aufrufe • vor 3 Monaten

🔥METAPLANET = INSANE OPPORTUNITY🔥 I think everyone is SEVERELY underappreciating what Metaplanet is building out in Japan. If Metaplanet can borrow at 4.15% today and carry that debt until Bitcoin reaches $1 million, the economics for existing shareholders resemble selling common equity at more than TEN TIMES NAV. Yup. Imagine being able to issue equity to buy Bitcoin at a 10x mNAV. Let's break it down. The first BitBond issuance was tiny, roughly ¥200 million, or $1.3 million. The pipe behind it could eventually become enormous. Metaplanet can now issue ordinary yen-denominated bonds through its own securities subsidiary, pay investors around 4.15%, use the capital to buy Bitcoin, and roll the principal into new bonds every three years. The bondholders receive a fixed yield in yen. Metaplanet’s common shareholders capture everything Bitcoin earns above that cost of capital. Here’s how absurdly powerful the math gets. Metaplanet borrows $1 at 4.15% and buys $1 of Bitcoin. After 3 years, that $1 of debt has grown to approximately $1.13 if we assume the interest is financed and rolled. If Bitcoin doubles, the Bitcoin is worth $2. Pay the $1.13 obligation and common shareholders are left with $0.87 of incremental equity without issuing a single common share. Economically, that is equivalent to selling common equity at roughly 1.77× mNAV: $2.00 of Bitcoin ÷ $1.13 bond obligation = 1.77×. Starting with Bitcoin around $63,000: At $100,000 BTC, the bond behaves like equity issued at 1.41× mNAV. At $150,000 BTC, it behaves like equity issued at 2.11× mNAV. At $200,000 BTC, it behaves like equity issued at 2.81× mNAV. That matters enormously while Metaplanet’s common stock trades around or below NAV. Selling common shares down here would dilute existing shareholders. BitBonds allow the company to acquire more Bitcoin per share while waiting for the common-stock premium to return. Now extend this idea over the next decade. Assume Bitcoin rises from $63,000 to $1 million over 10 years. Every $1 of Bitcoin purchased today becomes $15.87. $1 borrowed at 4.15% and continuously rolled becomes approximately $1.50 owed. Common shareholders capture the remaining $14.37. The mNAV-equivalent financing multiple becomes: 15.87 ÷ 1.50 = 10.57× mNAV. Read that again. Yes. I'll repeat it for you. Metaplanet can borrow at 4.15% today and carry that debt until Bitcoin reaches $1 million, the economics for existing shareholders resemble selling common equity at more than TEN TIMES NAV. So I modeled a simple scenario. Metaplanet begins with 43,000 BTC at $63,000, giving it roughly $2.71 billion of Bitcoin. It then maintains 10% balance-sheet amplification all the way to $1 million Bitcoin. Gross BTC exposure stays at 1.10× common equity. New bonds are issued monthly at 4.15%, and every bond is rolled after three years. The opening issuance would be approximately $271 million, buying another 4,300 BTC immediately. As Bitcoin appreciates, the balance sheet creates additional borrowing capacity. Metaplanet keeps issuing enough to maintain the same conservative 10% amplification instead of allowing leverage to run wild. Average monthly issuance begins around $8 million during year one. Once the three-year rollover cycle starts, new issuance plus refinancings average approximately: $37 million per month in year 3 $72 million per month in year 6 $101 million per month in year 8 $192 million per month in year 10 Across the full decade, the company issues approximately $8.9 billion of gross bonds, including around $3.5 billion of refinanced maturities. Here is where Metaplanet ends when Bitcoin reaches $1 million (not a prediction, just a projection of these inputs): 59,727 BTC $59.73 billion of gross Bitcoin assets $5.43 billion of outstanding debt $54.30 billion of common NAV Without BitBonds, the original 43,000 BTC would simply be worth $43 billion. The bond strategy therefore creates approximately $11.30 billion of additional common equity. Same common shareholders. Same original 43,000 BTC starting point. Approximately 16,727 additional Bitcoin accumulated through controlled balance-sheet amplification. That produces 26.3% more NAV per share at $1 million Bitcoin without common-share dilution from the bond program. Of course, they still need buyers for the bonds. They must stagger maturities, maintain adequate liquidity, service the coupons and avoid building some psychotic refinancing wall during a Bitcoin bear market. The relevant hurdle is also BTC measured in yen, rather than dollars. But at 10% amplification, Bitcoin only needs to outperform a 4.15% yen cost of capital for the strategy to become accretive. Metaplanet owns 43,000 Bitcoin and now owns the securities platform capable of distributing its debt directly into Japan’s gigantic market for fixed-income savings. This is becoming much bigger than a Bitcoin treasury company. They are building a machine that converts Japanese demand for fixed yen yield into permanently increasing Bitcoin per common share. The bondholders get 4.15%. Metaplanet shareholders get everything Bitcoin does above it for the next decade. Short fiat. Long Bitcoin. This trade is OBSCENE:
0:35

🔥METAPLANET = INSANE OPPORTUNITY🔥 I think everyone is SEVERELY underappreciating what Metaplanet is building out in Japan. If Metaplanet can borrow at 4.15% today and carry that debt until Bitcoin reaches $1 million, the economics for existing shareholders resemble selling common equity at more than TEN TIMES NAV. Yup. Imagine being able to issue equity to buy Bitcoin at a 10x mNAV. Let's break it down. The first BitBond issuance was tiny, roughly ¥200 million, or $1.3 million. The pipe behind it could eventually become enormous. Metaplanet can now issue ordinary yen-denominated bonds through its own securities subsidiary, pay investors around 4.15%, use the capital to buy Bitcoin, and roll the principal into new bonds every three years. The bondholders receive a fixed yield in yen. Metaplanet’s common shareholders capture everything Bitcoin earns above that cost of capital. Here’s how absurdly powerful the math gets. Metaplanet borrows $1 at 4.15% and buys $1 of Bitcoin. After 3 years, that $1 of debt has grown to approximately $1.13 if we assume the interest is financed and rolled. If Bitcoin doubles, the Bitcoin is worth $2. Pay the $1.13 obligation and common shareholders are left with $0.87 of incremental equity without issuing a single common share. Economically, that is equivalent to selling common equity at roughly 1.77× mNAV: $2.00 of Bitcoin ÷ $1.13 bond obligation = 1.77×. Starting with Bitcoin around $63,000: At $100,000 BTC, the bond behaves like equity issued at 1.41× mNAV. At $150,000 BTC, it behaves like equity issued at 2.11× mNAV. At $200,000 BTC, it behaves like equity issued at 2.81× mNAV. That matters enormously while Metaplanet’s common stock trades around or below NAV. Selling common shares down here would dilute existing shareholders. BitBonds allow the company to acquire more Bitcoin per share while waiting for the common-stock premium to return. Now extend this idea over the next decade. Assume Bitcoin rises from $63,000 to $1 million over 10 years. Every $1 of Bitcoin purchased today becomes $15.87. $1 borrowed at 4.15% and continuously rolled becomes approximately $1.50 owed. Common shareholders capture the remaining $14.37. The mNAV-equivalent financing multiple becomes: 15.87 ÷ 1.50 = 10.57× mNAV. Read that again. Yes. I'll repeat it for you. Metaplanet can borrow at 4.15% today and carry that debt until Bitcoin reaches $1 million, the economics for existing shareholders resemble selling common equity at more than TEN TIMES NAV. So I modeled a simple scenario. Metaplanet begins with 43,000 BTC at $63,000, giving it roughly $2.71 billion of Bitcoin. It then maintains 10% balance-sheet amplification all the way to $1 million Bitcoin. Gross BTC exposure stays at 1.10× common equity. New bonds are issued monthly at 4.15%, and every bond is rolled after three years. The opening issuance would be approximately $271 million, buying another 4,300 BTC immediately. As Bitcoin appreciates, the balance sheet creates additional borrowing capacity. Metaplanet keeps issuing enough to maintain the same conservative 10% amplification instead of allowing leverage to run wild. Average monthly issuance begins around $8 million during year one. Once the three-year rollover cycle starts, new issuance plus refinancings average approximately: $37 million per month in year 3 $72 million per month in year 6 $101 million per month in year 8 $192 million per month in year 10 Across the full decade, the company issues approximately $8.9 billion of gross bonds, including around $3.5 billion of refinanced maturities. Here is where Metaplanet ends when Bitcoin reaches $1 million (not a prediction, just a projection of these inputs): 59,727 BTC $59.73 billion of gross Bitcoin assets $5.43 billion of outstanding debt $54.30 billion of common NAV Without BitBonds, the original 43,000 BTC would simply be worth $43 billion. The bond strategy therefore creates approximately $11.30 billion of additional common equity. Same common shareholders. Same original 43,000 BTC starting point. Approximately 16,727 additional Bitcoin accumulated through controlled balance-sheet amplification. That produces 26.3% more NAV per share at $1 million Bitcoin without common-share dilution from the bond program. Of course, they still need buyers for the bonds. They must stagger maturities, maintain adequate liquidity, service the coupons and avoid building some psychotic refinancing wall during a Bitcoin bear market. The relevant hurdle is also BTC measured in yen, rather than dollars. But at 10% amplification, Bitcoin only needs to outperform a 4.15% yen cost of capital for the strategy to become accretive. Metaplanet owns 43,000 Bitcoin and now owns the securities platform capable of distributing its debt directly into Japan’s gigantic market for fixed-income savings. This is becoming much bigger than a Bitcoin treasury company. They are building a machine that converts Japanese demand for fixed yen yield into permanently increasing Bitcoin per common share. The bondholders get 4.15%. Metaplanet shareholders get everything Bitcoin does above it for the next decade. Short fiat. Long Bitcoin. This trade is OBSCENE:

Adam Livingston

29,566 Aufrufe • vor 1 Monat

💰 Matt Law: The other very interesting news to emerge is that in terms of the potential sale of their stakes, they've both valued the club at north of 5 billion pounds, twice of what they paid for it. For Clearlake to buy both of those shares, it would cost well over £1 billion just to buy those shares.
0:38

💰 Matt Law: The other very interesting news to emerge is that in terms of the potential sale of their stakes, they've both valued the club at north of 5 billion pounds, twice of what they paid for it. For Clearlake to buy both of those shares, it would cost well over £1 billion just to buy those shares.

London Is Blue Podcast ⭐️⭐️

21,095 Aufrufe • vor 1 Monat

When Adam’s stock price dropped by 92% he borrowed money to buy back $6 billion in stock. That bet made the company more than $60 billion: “If no one's going to buy our shares why don't we just start buying our own shares? The company at the bottom was worth $3.8 billion. And we were generating over a billion dollars of EBITDA. Well in theory we could buy back 20% of the shares of the company just in the next year if we really believed in the path we were on. So we kicked that off. But we did it a little bit differently than what most companies do. Most companies go out and say I'm going to buy shares from the public markets and just take shares back. But you don't know who's on the other side of that trade. On the other hand we knew that we had a cap table where about 50% of the shares were going to sell at some point over the coming years. We had private equity investors that owned roughly 50% of the shares of the company alongside some other founders that were no longer there. So instead of going to the public we went to the shareholders that we knew were going to sell and got them to agree to sell back to us over time. And so for the following 18 months we ended up deploying around $6 billion of buybacks using our own capital and we leveraged some to buy back shares in the company. And over time that ended up creating somewhere in the neighborhood of $50 to $60 billion of actual proceeds from the buyback. It was one of the most successful buybacks in the history of companies.”
1:58

When Adam’s stock price dropped by 92% he borrowed money to buy back $6 billion in stock. That bet made the company more than $60 billion: “If no one's going to buy our shares why don't we just start buying our own shares? The company at the bottom was worth $3.8 billion. And we were generating over a billion dollars of EBITDA. Well in theory we could buy back 20% of the shares of the company just in the next year if we really believed in the path we were on. So we kicked that off. But we did it a little bit differently than what most companies do. Most companies go out and say I'm going to buy shares from the public markets and just take shares back. But you don't know who's on the other side of that trade. On the other hand we knew that we had a cap table where about 50% of the shares were going to sell at some point over the coming years. We had private equity investors that owned roughly 50% of the shares of the company alongside some other founders that were no longer there. So instead of going to the public we went to the shareholders that we knew were going to sell and got them to agree to sell back to us over time. And so for the following 18 months we ended up deploying around $6 billion of buybacks using our own capital and we leveraged some to buy back shares in the company. And over time that ended up creating somewhere in the neighborhood of $50 to $60 billion of actual proceeds from the buyback. It was one of the most successful buybacks in the history of companies.”

David Senra

518,747 Aufrufe • vor 5 Monaten

When Adam’s stock price dropped by 92% he borrowed money to buy back $6 billion in stock. That bet made the company more than $60 billion: “If no one's going to buy our shares why don't we just start buying our own shares? The company at the bottom was worth $3.8 billion. And we were generating over a billion dollars of EBITDA. Well in theory we could buy back 20% of the shares of the company just in the next year if we really believed in the path we were on. So we kicked that off. But we did it a little bit differently than what most companies do. Most companies go out and say I'm going to buy shares from the public markets and just take shares back. But you don't know who's on the other side of that trade. On the other hand we knew that we had a cap table where about 50% of the shares were going to sell at some point over the coming years. We had private equity investors that owned roughly 50% of the shares of the company alongside some other founders that were no longer there. So instead of going to the public we went to the shareholders that we knew were going to sell and got them to agree to sell back to us over time. And so for the following 18 months we ended up deploying around $6 billion of buybacks using our own capital and we leveraged some to buy back shares in the company. And over time that ended up creating somewhere in the neighborhood of $50 to $60 billion of actual proceeds from the buyback. It was one of the most successful buybacks in the history of companies.”
1:58

When Adam’s stock price dropped by 92% he borrowed money to buy back $6 billion in stock. That bet made the company more than $60 billion: “If no one's going to buy our shares why don't we just start buying our own shares? The company at the bottom was worth $3.8 billion. And we were generating over a billion dollars of EBITDA. Well in theory we could buy back 20% of the shares of the company just in the next year if we really believed in the path we were on. So we kicked that off. But we did it a little bit differently than what most companies do. Most companies go out and say I'm going to buy shares from the public markets and just take shares back. But you don't know who's on the other side of that trade. On the other hand we knew that we had a cap table where about 50% of the shares were going to sell at some point over the coming years. We had private equity investors that owned roughly 50% of the shares of the company alongside some other founders that were no longer there. So instead of going to the public we went to the shareholders that we knew were going to sell and got them to agree to sell back to us over time. And so for the following 18 months we ended up deploying around $6 billion of buybacks using our own capital and we leveraged some to buy back shares in the company. And over time that ended up creating somewhere in the neighborhood of $50 to $60 billion of actual proceeds from the buyback. It was one of the most successful buybacks in the history of companies.”

David Senra

154,426 Aufrufe • vor 3 Monaten

Treasury companies keep buying more Bitcoin while their shareholders quietly own less of it "The strategy contained the seeds of its own destruction. The more companies copied it, the less unique each company became. The less unique each became, the harder it was to justify its premium. And when the premium disappeared, the machine went into reverse" "If dilution grows faster than the Bitcoin treasury, the economics become worse for existing shareholders. Bitcoin held by the company can increase while Bitcoin per share falls. That's the trap" "The headline says the company bought more Bitcoin, but the shareholder quietly owns less. Common shareholders can lose even more once debt, convertible instruments and preferred securities are included"
0:34

Treasury companies keep buying more Bitcoin while their shareholders quietly own less of it "The strategy contained the seeds of its own destruction. The more companies copied it, the less unique each company became. The less unique each became, the harder it was to justify its premium. And when the premium disappeared, the machine went into reverse" "If dilution grows faster than the Bitcoin treasury, the economics become worse for existing shareholders. Bitcoin held by the company can increase while Bitcoin per share falls. That's the trap" "The headline says the company bought more Bitcoin, but the shareholder quietly owns less. Common shareholders can lose even more once debt, convertible instruments and preferred securities are included"

The Wolf Of All Streets

29,371 Aufrufe • vor 2 Monaten

"Only about 61% of the common stock they sold this week went to purchase Bitcoin" Here's where the other 39% of Strategy's raise went: "They raised $602 million and bought $370 million worth of Bitcoin. It was divided four ways. $370 million bought Bitcoin, $151 million repurchased STRC shares, working very hard to push that back up to par at $100. $50.7 million paid STRC dividends, and they already have over $5 billion saved for that." "The fact that they're paying them in real time and have it saved means your concerns about STRC should be over. And they used $30 million to increase the USD cash, so they actually added to the cash reserve while buying Bitcoin." "The remainder supported the preferred stock structure and their liquidity."
1:05

"Only about 61% of the common stock they sold this week went to purchase Bitcoin" Here's where the other 39% of Strategy's raise went: "They raised $602 million and bought $370 million worth of Bitcoin. It was divided four ways. $370 million bought Bitcoin, $151 million repurchased STRC shares, working very hard to push that back up to par at $100. $50.7 million paid STRC dividends, and they already have over $5 billion saved for that." "The fact that they're paying them in real time and have it saved means your concerns about STRC should be over. And they used $30 million to increase the USD cash, so they actually added to the cash reserve while buying Bitcoin." "The remainder supported the preferred stock structure and their liquidity."

The Wolf Of All Streets

28,854 Aufrufe • vor 1 Monat

When you are confidently ignorant. She said she didn't buy Dangote Refinery shares because one president might come along and shut the refinery down. She also asked why Dangote didn't offer shares in his sugar and cement companies. Personally, I own shares in both companies. Then she claimed that smart people like Otedola didn't buy shares in the Dangote Refinery, even though Otedola himself bought $100 million worth of the shares. She also said she didn't buy the shares because she had read the terms and conditions and concluded that they were "extortion." But when she was asked to highlight even one aspect of the terms and conditions that she found problematic, she couldn't. There is nothing wrong with choosing not to invest. But if you are going to confidently explain why an investment is bad, you should at least be able to explain the basis for your argument. She needs to stay away from microphones.
2:05

When you are confidently ignorant. She said she didn't buy Dangote Refinery shares because one president might come along and shut the refinery down. She also asked why Dangote didn't offer shares in his sugar and cement companies. Personally, I own shares in both companies. Then she claimed that smart people like Otedola didn't buy shares in the Dangote Refinery, even though Otedola himself bought $100 million worth of the shares. She also said she didn't buy the shares because she had read the terms and conditions and concluded that they were "extortion." But when she was asked to highlight even one aspect of the terms and conditions that she found problematic, she couldn't. There is nothing wrong with choosing not to invest. But if you are going to confidently explain why an investment is bad, you should at least be able to explain the basis for your argument. She needs to stay away from microphones.

Akinkanju

35,255 Aufrufe • vor 21 Tagen

🚨🚨 2.25 TRILLION PHANTOM SHARES OF CMKX SEC KNEW🙉🙈 2004 2.25 Trillion phantom counterfeit shares of CMKX were sold to 40 THOUSAND Retail Shareholders. At all times the SEC knew what was going on. Operation Uptick sting by the DOJ and SEC. THE SEC'S JOB IS TO PROTECT INVESTORS NOT TO USE THEM AS BAIT The SEC made deals with the Organized Crime Syndicate and received money for the shares but never gave it to the victims. So the question is if you got the money and kept it doesn't that make the SEC an Organized Crime Syndicate 🤔
6:13

🚨🚨 2.25 TRILLION PHANTOM SHARES OF CMKX SEC KNEW🙉🙈 2004 2.25 Trillion phantom counterfeit shares of CMKX were sold to 40 THOUSAND Retail Shareholders. At all times the SEC knew what was going on. Operation Uptick sting by the DOJ and SEC. THE SEC'S JOB IS TO PROTECT INVESTORS NOT TO USE THEM AS BAIT The SEC made deals with the Organized Crime Syndicate and received money for the shares but never gave it to the victims. So the question is if you got the money and kept it doesn't that make the SEC an Organized Crime Syndicate 🤔

Stephanie

39,195 Aufrufe • vor 6 Monaten

Strategy buys 334 $BTC, but the real story is $176M in STRC buybacks, funded partly by interest on its cash pile "The big story here is not that Saylor is once again buying Bitcoin, because we've now seen that sustained for a few weeks, as they bought 334 for $28.7 million, while also spending over, I believe, $176 million buying back STRC." "We've long discussed how complicated the Strategy Bitcoin buying and corporate balance sheet game has become, and that is in the spotlight every single week, because this is not just simply raise cash and buy Bitcoin anymore." "Now it is find creative ways to raise cash and maybe use that cash to buy some of our things while also selling some other things." "The Bitcoin purchase itself was funded from $15.7 million from issuing and selling MSTR shares, so a very, very slight bit of dilution, but that's the old model. Only $13 million came from Strategy's flexible USD cash pool." "What I said is more interesting is the $176.3 million of STRC that they bought. They funded this using $154.1 million of their USD cash pile and $22.2 million of interest earned on its dollar holdings." "They've raised billions and billions and billions of dollars in cash, much like a stablecoin, they could actually earn yield with high interest rates on that cash." "They're putting that cash to work to buy back STRC. This is the first time, to my knowledge, that we've seen that part of the machine kicking in, and it's not something that I'd heard anybody even mentioning."
1:50

Strategy buys 334 $BTC, but the real story is $176M in STRC buybacks, funded partly by interest on its cash pile "The big story here is not that Saylor is once again buying Bitcoin, because we've now seen that sustained for a few weeks, as they bought 334 for $28.7 million, while also spending over, I believe, $176 million buying back STRC." "We've long discussed how complicated the Strategy Bitcoin buying and corporate balance sheet game has become, and that is in the spotlight every single week, because this is not just simply raise cash and buy Bitcoin anymore." "Now it is find creative ways to raise cash and maybe use that cash to buy some of our things while also selling some other things." "The Bitcoin purchase itself was funded from $15.7 million from issuing and selling MSTR shares, so a very, very slight bit of dilution, but that's the old model. Only $13 million came from Strategy's flexible USD cash pool." "What I said is more interesting is the $176.3 million of STRC that they bought. They funded this using $154.1 million of their USD cash pile and $22.2 million of interest earned on its dollar holdings." "They've raised billions and billions and billions of dollars in cash, much like a stablecoin, they could actually earn yield with high interest rates on that cash." "They're putting that cash to work to buy back STRC. This is the first time, to my knowledge, that we've seen that part of the machine kicking in, and it's not something that I'd heard anybody even mentioning."

The Wolf Of All Streets

25,640 Aufrufe • vor 7 Tagen

California's Wealth Tax Has a Secret Prohibition On Founder Control That's Forcing Entrepreneurs Out Sacks: “Larry and Sergey have left the state, and they’re probably getting dragged for that, but one of the reasons they have to is because of the super-voting stock provision in this thing.” “The way they calculate the value of your stock isn’t based on its liquid market value, but if you own super-voting shares, they multiply your ownership, your super voting, by the market cap of the company, and they deem your shares be worth that.” How it works: – Larry and Sergey have a combined 52% voting share of Google, which is worth $4T – They would be deemed to be worth roughly $1T each, not the ~$200B they are actually worth – So a 5% tax for them is more like a 25% tax on their entire net worth Chamath: “It actually becomes closer to 50%, because you'd have to sell more than that to overcome the drag of selling to generate $25B or $50B of net worth.” “You have to sell two times that, because you have to pay taxes on that.” Sacks: “So what’s the point of having that super-voting provision in there?” “It’s just totally punitive and vicious.”
1:04

California's Wealth Tax Has a Secret Prohibition On Founder Control That's Forcing Entrepreneurs Out Sacks: “Larry and Sergey have left the state, and they’re probably getting dragged for that, but one of the reasons they have to is because of the super-voting stock provision in this thing.” “The way they calculate the value of your stock isn’t based on its liquid market value, but if you own super-voting shares, they multiply your ownership, your super voting, by the market cap of the company, and they deem your shares be worth that.” How it works: – Larry and Sergey have a combined 52% voting share of Google, which is worth $4T – They would be deemed to be worth roughly $1T each, not the ~$200B they are actually worth – So a 5% tax for them is more like a 25% tax on their entire net worth Chamath: “It actually becomes closer to 50%, because you'd have to sell more than that to overcome the drag of selling to generate $25B or $50B of net worth.” “You have to sell two times that, because you have to pay taxes on that.” Sacks: “So what’s the point of having that super-voting provision in there?” “It’s just totally punitive and vicious.”

The All-In Podcast

155,483 Aufrufe • vor 9 Monaten

Tomorrow, 328 million $SPCX shares unlock. Many holders are employees with nearly all their net worth in one stock. Even the bullish ones sell a slice to diversify, call it 20%. That's roughly 60 million shares hitting the market. SpaceX trades about 90 million shares a day. Put 60 million of new supply into 90 million of daily volume and the price gives. One condition: it has to be trading well above 135, the IPO price. Below that, holders don't sell.
1:00

Tomorrow, 328 million $SPCX shares unlock. Many holders are employees with nearly all their net worth in one stock. Even the bullish ones sell a slice to diversify, call it 20%. That's roughly 60 million shares hitting the market. SpaceX trades about 90 million shares a day. Put 60 million of new supply into 90 million of daily volume and the price gives. One condition: it has to be trading well above 135, the IPO price. Below that, holders don't sell.

Jo Bhakdi

40,514 Aufrufe • vor 19 Tagen

"I wore platform slippers instead of shoes, and they said it is not allowed because they don't want the camera to cover the show" — Lady shares an experience that made her stop going to a particular church.
2:29

"I wore platform slippers instead of shoes, and they said it is not allowed because they don't want the camera to cover the show" — Lady shares an experience that made her stop going to a particular church.

YabaLeftOnline

84,532 Aufrufe • vor 2 Monaten

Phong Le, CEO of Strategy, explains that they would eventually sell Bitcoin instead of $MSTR to fund the dividends on the preferred shares if the mNAV trades below 1x and raising additional capital is difficult because it would be better for the BTC yield.
1:38

Phong Le, CEO of Strategy, explains that they would eventually sell Bitcoin instead of $MSTR to fund the dividends on the preferred shares if the mNAV trades below 1x and raising additional capital is difficult because it would be better for the BTC yield.

Tristan – Blocktrainer.de 🧡⚡️

170,454 Aufrufe • vor 10 Monaten

In Heat, when Vincent Hanna arrives at the crime scene of the teenage girl murdered by Waingro, if you look at the bottom of the first shot you can see a dead bird floating in the swimming pool. According to Michael Mann, they found a dead bird just like that in the pool when they first scouted that location, and he liked the detail so much he wanted to use it in the scene. However, when they returned to shoot, the bird was gone. So Mann had someone from the production find another dead bird and put it back in the pool. This is just one example of the attention to detail Michael Mann is known for. The dead bird is subtle, but it evokes a sense of urban decay and contamination that perfectly sets the tone for what is one of the more harrowing moments of the film.
2:20

In Heat, when Vincent Hanna arrives at the crime scene of the teenage girl murdered by Waingro, if you look at the bottom of the first shot you can see a dead bird floating in the swimming pool. According to Michael Mann, they found a dead bird just like that in the pool when they first scouted that location, and he liked the detail so much he wanted to use it in the scene. However, when they returned to shoot, the bird was gone. So Mann had someone from the production find another dead bird and put it back in the pool. This is just one example of the attention to detail Michael Mann is known for. The dead bird is subtle, but it evokes a sense of urban decay and contamination that perfectly sets the tone for what is one of the more harrowing moments of the film.

Gangster Cinema Central

46,012 Aufrufe • vor 1 Monat

Pharmacy Benefits Managers are SKYROCKETING the price of prescriptions to Medicare because taxpayers are paying for it. This is a racket - Medication Chlorpromazine cost to Medicare is $344 per prescription - Normal price ONLY $17 - Medicare PAYS 20x THE PRICE - Medicare paid for this prescription 500,000 times and spent $170 million in 2022 - Of the $170 million that Medicare spent 165 million of that was wasted overpaying “The companies they hire to manage their pharmacy costs are so terrible at their job that 95% of the money they spent is wasted. If you're wondering how they could mismanage it this badly, it's because they get paid more. If the drugs cost more and worse, they own the pharmacies that most of these are filled at. That means that the ridiculous 95% waste goes straight into the pockets of the company tasked with lowering the costs.” This is a racket
1:34

Pharmacy Benefits Managers are SKYROCKETING the price of prescriptions to Medicare because taxpayers are paying for it. This is a racket - Medication Chlorpromazine cost to Medicare is $344 per prescription - Normal price ONLY $17 - Medicare PAYS 20x THE PRICE - Medicare paid for this prescription 500,000 times and spent $170 million in 2022 - Of the $170 million that Medicare spent 165 million of that was wasted overpaying “The companies they hire to manage their pharmacy costs are so terrible at their job that 95% of the money they spent is wasted. If you're wondering how they could mismanage it this badly, it's because they get paid more. If the drugs cost more and worse, they own the pharmacies that most of these are filled at. That means that the ridiculous 95% waste goes straight into the pockets of the company tasked with lowering the costs.” This is a racket

Wall Street Apes

84,879 Aufrufe • vor 1 Jahr

Nelson Havi: Within the Judiciary there are weak-links; several judges of the Court of Appeal willing to act in an executive manner that you even wonder why they are judges. The implementation of the judgement of the High Court quashing the Safaricom shares sale takes effect immediately and what the government needs to do is to restore the shareholding as it was and refund the money they received unlawfully #CitizenDayBreak
3:43

Nelson Havi: Within the Judiciary there are weak-links; several judges of the Court of Appeal willing to act in an executive manner that you even wonder why they are judges. The implementation of the judgement of the High Court quashing the Safaricom shares sale takes effect immediately and what the government needs to do is to restore the shareholding as it was and refund the money they received unlawfully #CitizenDayBreak

Citizen TV Kenya

12,906 Aufrufe • vor 21 Tagen

When this couple rented a hotel room they were told how many people could stay in the room, it was 4. They were also told that only paid guests could enjoy the amenities like the indoor pool. They ending up throwing a pool party for their daughter at the hotel pool. Management caught wind of what happened and asked them to leave the hotel, they were put on the do not rent list for this behavior. The man says that since there is no sign at the pool that doesn’t permit it, then it’s allowed and he’s refusing to leave the hotel, he even calls it a dump but got mad when they banned them. I’ve heard of people doing this before and having no problems, I wonder what inappropriate behaviors they were doing to get kicked out, was the man right though about the hotel not having a sign at the pool, that he should have been allowed to give his friends access to the pool even though they weren’t paying guests?
2:28

When this couple rented a hotel room they were told how many people could stay in the room, it was 4. They were also told that only paid guests could enjoy the amenities like the indoor pool. They ending up throwing a pool party for their daughter at the hotel pool. Management caught wind of what happened and asked them to leave the hotel, they were put on the do not rent list for this behavior. The man says that since there is no sign at the pool that doesn’t permit it, then it’s allowed and he’s refusing to leave the hotel, he even calls it a dump but got mad when they banned them. I’ve heard of people doing this before and having no problems, I wonder what inappropriate behaviors they were doing to get kicked out, was the man right though about the hotel not having a sign at the pool, that he should have been allowed to give his friends access to the pool even though they weren’t paying guests?

SonnyBoy🇺🇸

113,150 Aufrufe • vor 7 Monaten

“Gavin Newsom, the governor of California and a possible future president of the United States, cheated to get onto The New York Times bestseller list. He spent $1.56 million to buy 67,000 copies of his own book because it was not selling enough on its own. That is cheating because he did not disclose the bulk purchases. They were discovered afterward. At the time the book was released, his own press team insisted they were not buying copies in bulk and that the sales were entirely legitimate. It is unbelievable.”
0:39

“Gavin Newsom, the governor of California and a possible future president of the United States, cheated to get onto The New York Times bestseller list. He spent $1.56 million to buy 67,000 copies of his own book because it was not selling enough on its own. That is cheating because he did not disclose the bulk purchases. They were discovered afterward. At the time the book was released, his own press team insisted they were not buying copies in bulk and that the sales were entirely legitimate. It is unbelievable.”

Apple Lamps

125,080 Aufrufe • vor 3 Monaten