In 1971 the US national debt was $398 billion. Today it’s $40.6 TRILLION. It took 37 years to reach $10T. The next $10T took 9 years. The one after that took 4.4 years. We now add a new $10 trillion faster than most people pay off a car. I see the trend. I'm buying Bitcoin.

JUST IN: Tether CEO Paolo Ardoino just announced they have bought an additional 50,000 #Bitcoin and now hold a total of 150,000 BTC. This brings private companies' total BTC holdings to over 200,000 BTC. 🔥🚀

I have a lot of great Catholic friends. This might upset some of them that I say this. But Catholicism includes false doctrine. Did you know that they have their own version of the Ten Commandments? Catholics, I love you. But some of y'all are doing some weird, unbiblical stuff. It's worth noting that no one (or church) is perfect. Each denomination has quirks, and can often skew the word of God. Even my own church does things I don't wholly agree with. But the worship of Mary and the saints is not biblical. Full stop. Just read the Bible. Both sides of my parent's families are Catholic, and I have spent a lot of time involved with the Catholic Church, and I truly mean it when I say I love them. I do. They are typically some of the most honest, kind-hearted, pious people I have ever known. My late pastor used to say, "I believe you can be saved and receive the Gospel message in a Catholic Church." But he believed a lot of people are confused and deceived due to adding to - or taking away from - God's word. What is important is that you believe that Jesus is the way, the truth, and the life. And that no one comes to the Father except through him. He is the complete means of salvation, and we are woefully inept to achieve it on our own due to our sin. No amount of works can get you to heaven, and no lack of works can separate you from it once you have received it. This is what the Bible says. If anyone tells you differently, then they are going against the Word of God.

I don’t think it’s a coincidence that October 31, the day of the Protestant Reformation, was also the day Satoshi released the Bitcoin white paper. “The Bitcoin Reformation” by Tuur Demeester is a great article exploring the parallels between the two movements. I recommend reading and reflecting on it. casebitcoin.com/docs/TheBitc…

Prepping? #Psalm91

Ecash App v0.12.0 is available now! Along with more security fixes, this release contains some cool new features. My favorite is the "Tap-To-Send" ecash on Android using NFC and Bluetooth Low Energy. Here's a small demo:

"I owe it all to our heavenly father" Cooper Pratt gives glory to God after becoming a World Series champion. Jesus is King of Kings

The Bitcoin is out there for $82k, practically free. Current pricing is irrelevant.

What is better than music Imagine a world with full Bitcoin adoption but no music Would you make that trade?

Banger

A Bitcoin treasury company can have ZERO residual NAV and still have valuable common equity. Robert Merton explained why over 50 years ago. His structural model of corporate finance shows that common equity behaves like a call option on a company's assets. Consider a company holding $1 billion in Bitcoin, financed by $1 billion of perpetual preferred stock. At today's Bitcoin price, the residual value available to common shareholders after subtracting the senior preference is $0. Now imagine Bitcoin doubles. The company owns $2 billion in BTC, while the preferred still has its $1 billion liquidation preference. That leaves $1 billion of residual value for common shareholders, before financing costs and other obligations. So what if Bitcoin falls 50% instead? The company holds $500 million in BTC against a $1 billion senior preference. Common shareholders have no residual liquidation value, but they don't personally owe the preferred shareholders the $500 million shortfall. That's the convexity Merton helps us understand. And the perpetual nature of the preferred stock makes this particularly interesting. Unlike conventional debt with a fixed maturity, perpetual preferred generally has no scheduled principal repayment date. If the company can continue meeting its obligations, a temporary decline in Bitcoin doesn't necessarily force liquidation. The common equity retains exposure to a potential recovery, although ongoing dividends and financial distress still impose real costs. So even when residual NAV approaches zero, the common equity may retain substantial option value. Higher Bitcoin volatility expands the range of potential future outcomes, and time gives those outcomes an opportunity to materialize. This is why subtracting today's senior claims from today's Bitcoin holdings cannot, by itself, determine what common equity is worth. Residual NAV measures what remains at today's asset prices. The stock market assigns a price to the residual claim across possible futures. Investors never own a frozen snapshot of that residual, they own common shares with a continuously changing market valuation. And when the underlying asset is Bitcoin, that distinction is enormously important:

63.2% of all bitcoin hasn't moved in over a year. 33.7% hasn't moved in 5+ years. (HODL waves, 2026-10-08) bennyworkshop.netlify.app

I have around 10 AI subscriptions. Now all these companies are projecting their revenues into the future like it will always exit. Meanwhile I'm just figuring out my favorites and will cancel 8 of them soon. There are more like me.

Interactive 3D Treasury Yield Curve.... Maturity x Yield x time axis, with customizable time periods going back to 1961. Made with Opus5.5 bennyworkshop.netlify.app/#/…

3d HODL wave interactive chart__#Bitcoin bennyworkshop.netlify.app/#/…

Some of my piloted Claude artifacts on #Bitcoin, Spirals, Mandelbrot, Math & Music. Looking to add more, let me know if you have any ideas. bennyworkshop.netlify.app

Another great panel at the Land of 10,000 Nodes conference

I can't believe the median normie mind still knows nothing about Bitcoin except lies