For those who asked. These are the 10 tenets of Alpine Republicanism. 1.That sovereignty rests in the citizen, not in the state, under God who is the true sovereign of all. 2.That property, freely held and justly acquired, is the foundation of independence and stewardship. 3.That money must be sound, unmanipulated, and free from the hand of arbitrary power, honoring the commandment against false weights and measures. 4.That government must be small, frugal, and confined to the defense of liberty and law. 5.That decisions belong first to families, communes, and cantons, and only thereafter to distant authorities. 6.That peace is the natural condition of free peoples, and neutrality in foreign quarrels preserves both liberty and prosperity. 7.That the character, faith, and virtue of the citizen are the surest guardians of a republic. 8.That the customs, traditions, and Christian heritage of the Alpine lands strengthen freedom by binding generations together in faith and duty. 9.That the people retain the right of direct voice through assemblies and referenda, for no government may rightly silence its masters. 10.That stewardship of the land, the forests, and the waters is the duty of those who inherit them, to pass them on in freedom to those yet unborn.

This is sure to become the standard reference for long-term investment returns. rpc.cfainstitute.org/sites/d…

The first 5% in bitcoin is free money for institutional allocators. Nothing else can produce marginal Sharpe ratios this high, with this much scale and liquidity. Just a matter of time until bitcoin trickles into every institutional portfolio.

You could just hold this portfolio. But you don’t.

$NVDA is now 19.2% of the risk in the S&P 500. It’s up 20x since the 2022 lows and 150x over ten years. Good luck with that.

FIXING A HOLE: Bitcoin ETFs' YTD flows are now positive after a $4.6b tsunami of cash came in over the past month ever since Bessent said it would increase bond buying which reminded everyone that the train has no brake pedal, only gas. Chart, story via @sidcoins

Bitcoin returning to a low-correlation regime versus equities will supercharge its role in institutional portfolio construction

It’s Larry o’clock

$1.7bn of ETF inflows in two days. ~20,000 BTC, or more than six weeks’ worth of new supply. We’re back.

Think about that

1) What

Bitcoin will 100x over the next 20 years. What are you going to do with this information?

9/21 Bitcoin ETF Total Net Flow: +$998.96m “The Highest Inflow in 2026” $IBIT: +$381.37m $FBTC: +$238.84m $BITB: +$21.56m $ARKB: +$289.12m $BTCO: $0.00m $EZBC: $0.00m $BRRR: $0.00m $HODL: $0.00m $BTCW: $0.00m $GBTC: +$3.34m $BTC: +$3.06m $MSBT: +$61.67m

Deploying more capital - steady lads

We have a long way to run. This will be fun 🚀

BlackRock, Capital Group, Fidelity, and VanEck are the top holders of $STRC Institutions understand Digital Credit

We stayed for the risk, now let’s enjoy the return 🟢 bitcoin:native

Can’t unsee this

Bitcoin, seen as a constituent in the S&P 500, would carry a 2.2% weight and 2.9% risk weight. Comparable to META or AVGO. No reason institutional allocators won’t default to a mid-single-digit BTC allocation over the next decade.

After expenses, almost every dollar in America ends up in one of five places. Bonds, stocks, real estate, gold, or Bitcoin. Over the last eleven years, four of them returned between 1.2x and 4x. The fifth returned 273x.

Strategy is now the largest issuer in iShares $PFF. 4.7% weight, close to 9% of total PFF yield. Achieved in a bear market. Incredibly bullish.