Salomon Brothers 90-98 Bond Portfolio Analysis Government Desk - Long Bond Trader Derivatives - Short-Dated Options Trading (Head) Caxton Assoc Hedge Fund
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You do not plant a seed in the ground and then dig it up every day to see that it is growing.
#Bitcoin will grow
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A change to daily dividends sucks the lifeblood out of dividend arbitrageurs.
@Strategy @phongle @CJ_Bitcoin
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Tighter financial conditions constrain growth with a lag.
@TimmerFidelity
As for the Fed, it raised rates last week as expected, and the market wants several more hikes. The SOFR curve is considerably more hawkish than the Fed’s own dot plot, which as usual is all over the place. The biggest development as far as I am concerned is that the 10-year real yield has now risen to above the economy’s real potential growth rate.
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Anyone who is not long Bitcoin is short it.
During its last Bitcoin selling spree, Strategy sold 6,948 Bitcoin for approximately $431.8 million in net proceeds, or about $62,150 per Bitcoin. Now he's buying back some of what he sold for over $80K per Bitcoin. It won't be long before he's selling at lower prices again.
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Fixed it @Werkman
Welcome Back to The Hurdle Rate
Episode 75: Growing Trust Grows Liquidity
In this week's Hurdle Rate, the crew breaks down Strive adding 1,355 BTC, Bitcoin's breakout, and why short-term traders may miss the move. They also discuss how digital credit could reshape the next bull market, why liquidity is the clearest measure of trust, and what @saylor and Warren Buffett teach about building balance sheet companies.
Here's the latest with @ColeMacro, @PunterJeff, @Werkman, and @TimKotzman
Timestamps:
00:00 - Intro
02:40 - Strive's Balance Sheet Growth
06:13 - Bitcoin's Breakout
08:23 - Warrants and Short-Term Trading
13:38 - Zoom Out and Stay in the Game
21:31 - Digital Credit Changes the Bull Run
23:09 - $SATA Volume and 75 Dividends
26:00 - Liquidity Is Trust
32:03 - Why Digital Credit Isn't for Everyone
37:20 - Building Strategy's Liquidity Engine
41:49 - Lessons From @saylor and Buffett
50:04 - The Return of Balance Sheet Companies
$MSTR $STRC $ASST $SATA $BTC
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Q: Why did the Dalai Lama open an account on PolyMarket?
A: Because he loves Tibet.
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Show me on the doll where Bitcoin touched you, Peter.
Yesterday’s big Bitcoin rally following the SEC’s tokenized stock announcement makes no sense. The news is actually bearish for Bitcoin, which must now compete with tokenized securities. Digital ownership of tokens backed by profitable, dividend-paying companies is a superior, more reliable store of value than a token backed by nothing. Tokenized stocks offer all of the conveniences of Bitcoin, but without the risk of a decentralized Ponzi scheme collapsing.
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Josh Man retweeted
Bitcoin Ripping
My wife Berly and I went to Cafe Picasso in Somerville, NJ tonight with my daughter and husband. 350,000 Sats for a first class dinner. This place is BYOB, or it would have been double that.
The 4 of us were here on March 14, 2025 when we hit $84,000 at 8:00PM with the famous @JoshMandell6 call. Wanted to bring some $84K vibe for the week ahead.
Anyway - very big move today. And that is how it goes. Over the course of 1-year, there may be 12 to 15 days where Bitcoin rips. Today was one of those days.
If you are in Central Jersey, I highly recommend Cafe Picasso for a great night out. Worth every Sat.
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Josh Man retweeted
Why is $SATA trading at $100.00, and $STRC not yet?
1) one percent higher yield (13% vs 12%)
2) daily dividend (vs twice per month)
3) more price stability due to daily dividend
4) better track record of trading at par (~$100.00)
5) zero debt by the $SATA issuing company @Strive
6) $SATA is endorsed by @Saylor to his 5M+ followers
7) different investor base and earlier in growth phase
Meanwhile $STRC has a much larger issuer, larger cash reserve (3.9 years) and a $2 Billion USD buyback budget (of which ~$1B was used). @Strategy is also pursuing an updated higher credit rating for $STRC by S&P Global, and has an increasing amount of institutional interest.
Many analysts on 𝕏 including @JoshMandell6 and @ZynxBTC believe @Strategy should raise the $STRC dividend rate, especially after the FED Rate Hike.
nitter.net/JoshMandell6/status/21…
If the Federal Reserve can increase interest rates, it seems to me that $STRC could raise its dividend rate too.
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Fun fact: $ASST closed at 14.86 that day and has roughly doubled since then. So if you had just sold either STRC or SATA to buy ASST that day, you'd be up huge.
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