The Bitcoin Wizard | Author of The Great Harvest | @BitcoinForCorps | Analysis @Swan | Advisor @usdat21| MSTR + MTPLF + ASST HODLER |
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Adam_Livingston. retweeted
The Great Harvest hardcover is BEAUTIFUL.
In a world where AI dissolves your value, this book reveals the only lifeline that cannot be simulated.
As the machines harvest your mind and hollow your worth, The Great Harvest shows the only truth that survives the coming erasure.
Buy my book on Amazon now, available on all formats including Kindle and audiobook:
amazon.com/dp/B0F5NPC1KC
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Adam_Livingston. retweeted
STRC Growth:
~735k shares per day in October
~6.8m shares per day in April
9.25x volume increase in half of a year.
Probably nothing.
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Adam_Livingston. retweeted
Remember when MSTR went to $540 without STRC and with 1/3rd Bitcoin they have now?
MSTR still cheap.
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Adam_Livingston. retweeted
The evidence that MSTR is still cheap is that STRC will drive Bitcoin to $1 million with only a 2% monthly growth rate in issuance:
🔥STRC WILL DRIVE BITCOIN TO $1 MILLION🔥
You are still not understanding how big of a deal STRC is.
Let's look at STRC at scale. A ten-year forward look.
Plug in the simplest possible assumptions and watch what this machine does.
Starting point: Strategy's trailing four-week STRC ATM run-rate sits at $3.51B/month. Call that the base.
Strategy is growing their month-over-month issuance rate a LOT faster than 2%... but let's be conservative to show you how insane this actually gets with modest assumptions.
Grow issuance 2% month-over-month, NOT aggressive.
Compound Bitcoin at a 25% CAGR from $76k today, well inside the power law channel and below every long term multi-year realized CAGR in Bitcoin's history.
Run the model for 120 months (10 years).
Year 1: 553k BTC. $52B stack.
Year 3: 1.68M BTC. $250B stack.
Year 5: 2.85M BTC. $661B stack.
Year 7: 4.05M BTC. $1.47T stack.
Year 10: 5.91M BTC. $4.18T stack.
5.91 million Bitcoin. Twenty-eight percent of the terminal supply.
From a single preferred-equity instrument doing boring, dollar-denominated, capital-efficient ATM issuance at a sleepy 2% monthly compound.
This is NOT including MSTR issuance to buy more Bitcoin.
If you don't think Strategy can get that much Bitcoin in ten years because of the Bitcoin price increasing... did you know that they buy MORE Bitcoin the more the price increases?
The total capital raised over those ten years is $1.72 trillion.
That is well inside the addressable pool of global fixed-income capital... the same pool currently funding negative real yields in sovereign debt and investment-grade credit that underperforms M2.
STRC is the mechanism that converts that pool into sats on the balance sheet.
The point is not that this specific number prints.
It won't.
Something breaks first... Bitcoin's dollar price goes parabolic and overshoots 25% CAGR long before Strategy absorbs 28% of supply, which collapses the unit economics of fresh issuance and caps the model naturally.
Or institutional demand for STRC saturates at some lower run-rate. Or a dozen other pressure valves release.
The point is the shape of the curve.
You are watching a monetary migration play out in real time, expressed through one instrument, with the most pedestrian assumptions on record. Modest growth in issuance.
Modest appreciation in the underlying. Ten years. No MSTR included.
The result is a fixed-income vehicle that mechanically accumulates hard money at a pace the incumbent system has no framework to respond to.
Chart below.
$MSTR $STRC $BTC
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Adam_Livingston. retweeted
🔥STRC WILL DRIVE BITCOIN TO $1 MILLION🔥
You are still not understanding how big of a deal STRC is.
Let's look at STRC at scale. A ten-year forward look.
Plug in the simplest possible assumptions and watch what this machine does.
Starting point: Strategy's trailing four-week STRC ATM run-rate sits at $3.51B/month. Call that the base.
Strategy is growing their month-over-month issuance rate a LOT faster than 2%... but let's be conservative to show you how insane this actually gets with modest assumptions.
Grow issuance 2% month-over-month, NOT aggressive.
Compound Bitcoin at a 25% CAGR from $76k today, well inside the power law channel and below every long term multi-year realized CAGR in Bitcoin's history.
Run the model for 120 months (10 years).
Year 1: 553k BTC. $52B stack.
Year 3: 1.68M BTC. $250B stack.
Year 5: 2.85M BTC. $661B stack.
Year 7: 4.05M BTC. $1.47T stack.
Year 10: 5.91M BTC. $4.18T stack.
5.91 million Bitcoin. Twenty-eight percent of the terminal supply.
From a single preferred-equity instrument doing boring, dollar-denominated, capital-efficient ATM issuance at a sleepy 2% monthly compound.
This is NOT including MSTR issuance to buy more Bitcoin.
If you don't think Strategy can get that much Bitcoin in ten years because of the Bitcoin price increasing... did you know that they buy MORE Bitcoin the more the price increases?
The total capital raised over those ten years is $1.72 trillion.
That is well inside the addressable pool of global fixed-income capital... the same pool currently funding negative real yields in sovereign debt and investment-grade credit that underperforms M2.
STRC is the mechanism that converts that pool into sats on the balance sheet.
The point is not that this specific number prints.
It won't.
Something breaks first... Bitcoin's dollar price goes parabolic and overshoots 25% CAGR long before Strategy absorbs 28% of supply, which collapses the unit economics of fresh issuance and caps the model naturally.
Or institutional demand for STRC saturates at some lower run-rate. Or a dozen other pressure valves release.
The point is the shape of the curve.
You are watching a monetary migration play out in real time, expressed through one instrument, with the most pedestrian assumptions on record. Modest growth in issuance.
Modest appreciation in the underlying. Ten years. No MSTR included.
The result is a fixed-income vehicle that mechanically accumulates hard money at a pace the incumbent system has no framework to respond to.
Chart below.
$MSTR $STRC $BTC
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Adam_Livingston. retweeted
Now run it with two engines.
Keep every assumption from the last thread. $76k Bitcoin today, 25% CAGR for ten years, 2% month-over-month issuance growth.
Same trailing-four-week base of $3.51B/month.
Then stand up a parallel MSTR ATM doing the exact same thing. Two pipes, one stack.
Year 1: 1.11M BTC. $105B of Bitcoin on the balance sheet.
Year 3: 3.37M BTC. Sixteen percent of the terminal supply.
Year 5: 5.70M BTC. Crosses a quarter of all Bitcoin that will ever exist.
Year 7: 8.09M BTC. $2.93T stack.
Year 10: 11.82M BTC. Fifty-six percent of the 21M cap. $8.37T market value.
Total capital raised across the decade: $3.43 trillion.
Let that sit for a second. One company, two well-understood capital markets instruments, boring assumptions across the board, and the output is more than half the monetary metal on Earth ending up in one corporate treasury.
The 50% supply line gets crossed roughly nine years from now. Call it 2035.
This is not prediction. It is arithmetic.
The model has exactly two moving parts and both of them are already calibrated to what is happening in the filings right now.
What actually happens long before this outcome is that the price mechanism does its job.
At some point between here and there, either Bitcoin's dollar price rips hard enough that a 25% CAGR looks laughable in hindsight, or fresh issuance meets institutional saturation, or mNAV compresses to a point where equity issuance stops being accretive, or sovereigns start competing for the bid.
One or more of those valves opens. The curve bends.
A publicly traded corporation running two vanilla ATM programs at a 2% compounding pace - nothing exotic, nothing illegal, nothing even particularly aggressive - is on a trajectory to become the largest holder of the scarcest monetary asset ever created, by a margin so wide it is functionally a different category of entity.
The market will price this in long before it prints.
Everyone else has a decade to figure out where they want to be standing when it does.
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Adam_Livingston. retweeted
Strategy buys millions of Bitcoin over the next 10 years... with only 2% monthly increase in STRC issuance and ZERO MSTR issuance.
There isn't enough Bitcoin, and Saylor is driving it all out of circulation.
Might want to get some before STRC really catches on:
🔥STRC WILL DRIVE BITCOIN TO $1 MILLION🔥
You are still not understanding how big of a deal STRC is.
Let's look at STRC at scale. A ten-year forward look.
Plug in the simplest possible assumptions and watch what this machine does.
Starting point: Strategy's trailing four-week STRC ATM run-rate sits at $3.51B/month. Call that the base.
Strategy is growing their month-over-month issuance rate a LOT faster than 2%... but let's be conservative to show you how insane this actually gets with modest assumptions.
Grow issuance 2% month-over-month, NOT aggressive.
Compound Bitcoin at a 25% CAGR from $76k today, well inside the power law channel and below every long term multi-year realized CAGR in Bitcoin's history.
Run the model for 120 months (10 years).
Year 1: 553k BTC. $52B stack.
Year 3: 1.68M BTC. $250B stack.
Year 5: 2.85M BTC. $661B stack.
Year 7: 4.05M BTC. $1.47T stack.
Year 10: 5.91M BTC. $4.18T stack.
5.91 million Bitcoin. Twenty-eight percent of the terminal supply.
From a single preferred-equity instrument doing boring, dollar-denominated, capital-efficient ATM issuance at a sleepy 2% monthly compound.
This is NOT including MSTR issuance to buy more Bitcoin.
If you don't think Strategy can get that much Bitcoin in ten years because of the Bitcoin price increasing... did you know that they buy MORE Bitcoin the more the price increases?
The total capital raised over those ten years is $1.72 trillion.
That is well inside the addressable pool of global fixed-income capital... the same pool currently funding negative real yields in sovereign debt and investment-grade credit that underperforms M2.
STRC is the mechanism that converts that pool into sats on the balance sheet.
The point is not that this specific number prints.
It won't.
Something breaks first... Bitcoin's dollar price goes parabolic and overshoots 25% CAGR long before Strategy absorbs 28% of supply, which collapses the unit economics of fresh issuance and caps the model naturally.
Or institutional demand for STRC saturates at some lower run-rate. Or a dozen other pressure valves release.
The point is the shape of the curve.
You are watching a monetary migration play out in real time, expressed through one instrument, with the most pedestrian assumptions on record. Modest growth in issuance.
Modest appreciation in the underlying. Ten years. No MSTR included.
The result is a fixed-income vehicle that mechanically accumulates hard money at a pace the incumbent system has no framework to respond to.
Chart below.
$MSTR $STRC $BTC
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Adam_Livingston. retweeted
Bitcoiners are basically the only people who looked at modern life and correctly concluded that the issue might be the money itself.
Everyone else is out here doing little rituals to survive inflation:
cancel Netflix
use coupons
brew coffee at home
open a brokerage account
download a budgeting app
sell plasma
pray
Or you could just buy the asset that has been humiliating economists, central bankers, and your cousin Trevor since inception.
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Adam_Livingston. retweeted
Cost of capital is destiny and Metaplanet has a huge advantage with the digital credit model in Japan.
$1B raised. 25% BTC CAGR. Coupons paid from the stack.
MARS 6% → 76% of the stack retained at Y10
STRC 11.5% → 54%
SATA 13% → 48%
Metaplanet isn't just another treasury co. It's funding the hardest asset on earth with the cheapest capital on earth.
Yen-priced preferreds at Japan's rates is a structural edge the US can't replicate until the Fed cuts to zero.
Every year that spread holds, MARS holders compound sats.
Japan is the arbitrage. Metaplanet is the vehicle.
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Adam_Livingston. retweeted
When the final reset comes and they roll out their programmable money slavery grid the only people who won’t be eating zoo animals in the dark are the ones who listened to the schizos screaming about Bitcoin since 2013.
The great filter is coming.
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Adam_Livingston. retweeted
SAYLOR BUYS $2.5 BILLION OF BITCOIN IN 1 WEEK - PASSES BLACKROCK!
youtu.be/2k9_Fdv5yf0
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Adam_Livingston. retweeted
One day people will realize they spent 20 years learning how to optimize airline miles, cashback points, and 4.3% savings accounts, while Bitcoin was quietly eating the monetary system alive.
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Adam_Livingston. retweeted
The Strategy endgame is so far outside normal corporate finance that people still try to analyze it with the mental software they used for buybacks and treasury ladders.
If Strategy reaches 3,000,000 BTC by 2030, and Bitcoin is $500,000, that is a $1.5 trillion NAV.
That is bigger than Berkshire’s cash and T-bills.
Bigger than Apple’s cash + marketable securities.
Bigger than Alphabet’s.
Bigger than Amazon’s.
Bigger than Microsoft’s.
In fact, it would be larger than those five combined.
Berkshire: ~$373B
Apple: ~$145B
Alphabet: ~$127B
Amazon: ~$123B
Microsoft: ~$95B
Combined: ~$863B
So the endgame is not “Strategy becomes a company with a lot of Bitcoin.”
The endgame is that Strategy becomes a capital singularity, a publicly traded black hole of pristine collateral sitting on a sovereign-scale reserve asset.
People still think Saylor is buying Bitcoin.
He is buying a future where one corporate balance sheet holds more hard capital than the old regime’s most liquid giants combined.
This is all within a few years.
STRC is the singularity.
BUCKLE UP, KIDS.
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Adam_Livingston. retweeted
People call STRC “risky” because the ticker moves on a screen.
They call their paycheck “safe” because the suffering is familiar.
But what is actually riskier?
Owning a senior claim in a Bitcoin treasury capital structure engineered to absorb global liquidity,
or staking your entire life on:
shrinking real wages,
political money printing,
corporate margin compression,
random layoffs,
commutes,
middle management chaos,
and the hope your back and blood pressure hold together long enough to retire at 67?
Most people are not avoiding risk.
They are drowning in it every day and calling it normal.
STRC is a yield instrument.
Your job is a levered short on your time.
11.5% outruns fiat debasement and beats the system for permission to survive.
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Adam_Livingston. retweeted
How can a company that raises $2.54 billion in one week pay $1.49 billion per year in dividends?
Can someone help me out with the math here?
How could they POSSIBLY pay these dividends?!?
Strategy has acquired 34,164 BTC for ~$2.54 billion at ~$74,395 per bitcoin and has achieved BTC Yield of 9.5% YTD 2026. As of 4/19/2026, we hodl 815,061 $BTC acquired for ~$61.56 billion at ~$75,527 per bitcoin. $MSTR $STRC
strategy.com/press/strategy-…
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Adam_Livingston. retweeted
Here’s how:
🔥SAYLOR BUYS $2.5 BILLION OF BITCOIN IN 1 WEEK - PASSES BLACKROCK!🔥
Michael Saylor just bought $2.5 billion of Bitcoin in a single week and passed BlackRock, while the bears are still in the comments clutching a 2003 Excel spreadsheet and whispering “but the dividend…” like it’s a séance.
In this video, I break down the 34,164 BTC buy, the funding structure behind it, why the anti-MSTR crowd keeps getting mugged by basic arithmetic, and why this entire trade still looks completely misunderstood by legacy finance.
This is a full autopsy of the bear case.
I go through the capital raise, the Bitcoin stack, the dividend panic, the MSTR vs BTC setup, and why the market keeps rewarding Strategy’s ability to turn investor demand into more Bitcoin.
If you still think this thing is blowing up tomorrow, bring a calculator and a priest:
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Adam_Livingston. retweeted
🔥SAYLOR BUYS $2.5 BILLION OF BITCOIN IN 1 WEEK - PASSES BLACKROCK!🔥
Michael Saylor just bought $2.5 billion of Bitcoin in a single week and passed BlackRock, while the bears are still in the comments clutching a 2003 Excel spreadsheet and whispering “but the dividend…” like it’s a séance.
In this video, I break down the 34,164 BTC buy, the funding structure behind it, why the anti-MSTR crowd keeps getting mugged by basic arithmetic, and why this entire trade still looks completely misunderstood by legacy finance.
This is a full autopsy of the bear case.
I go through the capital raise, the Bitcoin stack, the dividend panic, the MSTR vs BTC setup, and why the market keeps rewarding Strategy’s ability to turn investor demand into more Bitcoin.
If you still think this thing is blowing up tomorrow, bring a calculator and a priest:
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Adam_Livingston. retweeted
Please like this video on YouTube and subscribe to my channel to support my mission of spreading the ORANGE GOSPEL to the masses!
youtu.be/2k9_Fdv5yf0
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Adam_Livingston. retweeted
Strategy's Bitcoin Buy Analysis for MSTR shareholders:
Seeing a lot of Bitcoin bought is cool, but how good for is for YOU if you own MSTR?
The buy was accretive in CEBE terms... but it gets even better when Bitcoin's price goes up.
Gross BTC added: +34,164 BTC.
New senior claim added: STRC created $2.1795B of new preferred notional.
Marked at the deal BTC price of $74,395, that is about 29,296 BTC of new senior claims sitting ahead of common.
Net CEBE numerator added for common: 34,164 - 29,296 = 4,868 BTC.
That is the immediate common-equity BTC capture from this transaction at deal pricing.
What portion of the buy actually accrued to common
About 85.75% of the purchased BTC was economically offset by the new STRC senior claim.
About 14.25% of the purchased BTC was left for common in immediate CEBE terms.
Strategy’s shares page shows 381.588 million assumed diluted shares outstanding on 4/19/2026.
If you treat the week’s 2.165 million MSTR shares as the incremental common issuance from this deal, then pre-deal diluted shares were roughly 379.423 million, which implies about 0.57% common dilution from the MSTR leg.
On that basis:
Gross BTC addition from the buy was about 8,953 sats/share on the post-deal diluted base.
STRC senior-claim drag was about 7,677 sats/share.
Net transaction-level CEBE accretion was about 1,276 sats/share.
Using the pre-deal share base, it is about 1,283 sats/share.
The headline says +34,164 BTC.
CEBE says, “Hold on, most of that was funded with senior capital.”
So for common, the real immediate gain was closer to +4,868 BTC, not the full 34,164 BTC.
The bullish wrinkle:
This gets more favorable for common if BTC rises. STRC is a fixed-dollar senior claim, while BTC is the volatile asset.
So as BTC price goes up, the STRC claim converts into fewer BTC, and more of this week’s purchase starts accruing to common.
This is what I refer to as OWNERSHIP ACCELERATION.
At $100,000 BTC, that same $2.1795B STRC claim would equal only 21,795 BTC, leaving 12,369 BTC net to common, or about 3,241 sats/share on the current diluted base.
This latest buy was:
Massively BPS accretive
Modestly CEBE accretive
Very levered to future BTC upside, because the fixed-dollar STRC claim shrinks in BTC terms as Bitcoin rises.
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Adam_Livingston. retweeted
One way I will be judging the success of SATA is looking at the total issuance as % of their total Bitcoin hoard and comparing that to Strategy.
Strategy’s April 20 filing says it sold 21,795,389 STRC shares for $2.1763 billion net proceeds, and held 815,061 BTC as of April 19, 2026.
Strive’s tracker currently shows BTC at $75,183.01, so Strategy’s 815,061 BTC stack is worth about $61.28 billion at that spot price.
That means Saylor’s latest STRC raise was about 3.55% of Strategy’s Bitcoin hoard.
For Strive, the tracker currently shows 13,767.9 BTC.
At the same $75,183.01 BTC price, Strive’s BTC hoard is worth about $1.035 billion.
Applying the same 3.55% raise-to-hoard ratio to Strive gives an equivalent SATA raise of about $36.76 million.
Strive’s tracker also shows SATA at $98.54 with $437.32 million notional outstanding.
At that price, a $36.76 million equivalent raise would be about 373,064 SATA shares.
For context, that $36.76 million equivalent is only about 8.4% of current SATA notional, so Strive’s existing SATA stack is already far larger than the Strategy-equivalent weekly raise on this metric.
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