2023-12-31T10:59:36Z https://njump.me Ollie https://njump.me/npub1p8fvd3pnxfvd8ywkf2pyqw2hutntck9tadl3afaq3wl2k2hvu3asgnm3vf https://m.primal.net/HWDT.jpg https://m.primal.net/HWDT.jpg https://njump.me/nevent1qqsdaffnxn9ywmkq8spxpu0nc6axpmsju7vz2pv33k8hh32zf0dylcszyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8k2yk0l6 MSTR leverage ratio (excl. converts in the money) is now ~10%. This is very low vs. target benchmark range of 20-30% stated by Saylor. In the next month or so I think we’re going to see a lot of BTC purchased via debt - if not I’m guessing the giant debt markets have run out appetite, which would be a concern. 2025-04-03T09:19:52Z https://njump.me/nevent1qqspptec39kzcgfrykeek0rfw022z2drmuhe0a8nxcytzandv4jhjzszyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8knvsykm In reply to <a href='/nevent1qqsz6x4mgmtwgdkfcergx7xtkd0ccq6asm43uyzmyjuxuc6awvxc40gpr3mhxue69uhkymmnw3ezucnfw33k76tww3ux76m09e3k7mgj7a69u'>nevent1q…a69u</a><br/>_________________________<br/><br/>Hodl calling this, feels like a buy signal to me. I will go and stack sir. 🫡 2025-03-31T13:42:25Z https://njump.me/nevent1qqsgckwxz5uh94lm25n6ua3mx60wlprgzur35zjnkdcpazutatnpj7szyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8k9n830d In reply to <a href='/nevent1qqswqtggx3zxu7syy23k7st0a6e9jaje977p0whdzhtxhnr6zpe3hvcppamhxue69uhkztnwdaejumr0dsfk6mhg'>nevent1q…6mhg</a><br/>_________________________<br/><br/>Im sensing some very slow subtle shifts. eg Hargreaves Lansdowm seem to tweet something about btc most days now… they’ll be itching to launch the etf, given what they see happening with their investor base in mstr. I guess they will lobby the FCA? 2025-03-18T15:41:13Z https://njump.me/nevent1qqsthl6mfu64vweqgy3hnvkdpqj6k8lz8tpgpf5zjrmkxwa6tn7gjagzyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8kglfsyy In reply to <a href='/nevent1qqs2qlrp8drnnqusgjdy5jcdskkuf0nl62apf3dhwkhx2yh5mjn5ltqpzemhxw309ucnjv3wxymrst338qhrww3hxumnwxs94zj'>nevent1q…94zj</a><br/>_________________________<br/><br/>Hard to keep up with all the different flavours of securities 😂 2025-03-18T15:19:54Z https://njump.me/nevent1qqsqjl0wjah982wrnh4h3dqv25ncy2mk9ulu39smz0el5qhuhfswcvqzyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8kw4u6lt In reply to <a href='/nevent1qqs0qusmrqv0spc57q447q03hy73xspj6tlgzg4m56m4c2rnyqhwvlcpz3mhxue69uhkummnw3ezummcw3ezuer9wc7tgvgp'>nevent1q…gvgp</a><br/>_________________________<br/><br/>Curios to know how you think about MSTR / BTC ETFs. I imagine the FCA will eventually get its act together and approve the ETFs in the UK, do you think there will be a big rotation? Do you think any material impact for MSTR? 2025-03-15T13:30:31Z https://njump.me/nevent1qqs238e5pjttz229h6766d0qec9ksvf2a7n00slmgnqzsudy4clgs7czyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8k56zx9e In reply to <a href='/nevent1qqs2un588zk8tja50r9met2r873tzggncrptte6wkmauq2rpsn5ke4qppamhxue69uhkummnw3ezumt0d5uzxcmg'>nevent1q…xcmg</a><br/>_________________________<br/><br/>In case you haven’t seen these mNAV trend charts. <br/> <img src="https://m.primal.net/Pgec.jpg"> 2025-03-15T11:11:07Z https://njump.me/nevent1qqsxqpp6dka33x4cngerh5m0v4gc9fz5que8vevquuers4gzl9m2uhszyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8kjzr46d In reply to <a href='/nevent1qqsy95gzlrtzwlpygfmvfmu47gadyn425llpvl5jc003c5w9z4k79jgpr4mhxue69uhkymmnw3ezucnfw33k76tww3ux76m09e3k7mf0gh6s5z'>nevent1q…6s5z</a><br/>_________________________<br/><br/>We’re going to learn what the vibe is still like in Bedford soon. 2025-03-15T11:00:55Z https://njump.me/nevent1qqs8hraja4rdu9catkp88cnyxmpuxv6aawx2vv8hygnwph20qsm0dcszyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8ksqrpf7 In reply to <a href='/nevent1qqs2un588zk8tja50r9met2r873tzggncrptte6wkmauq2rpsn5ke4qppamhxue69uhkummnw3ezumt0d5uzxcmg'>nevent1q…xcmg</a><br/>_________________________<br/><br/>Compression of NAV to 1 is a big deal. It means ATM can’t be completed accretively. However, it doesn’t mean CBs can’t be issued (volatility will remain). Have you ever come across any good research which tries to estimate what a sensible NAV premium should be? Anything we can learn from long term P/E multiple in tradfi markets? 2025-03-15T10:59:52Z https://njump.me/nevent1qqsqj3d5vkltehnv93f0rnqj7j484sd45vhp4qvzmruhn3s5sycwcnczyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8ktkjrda In reply to <a href='/nevent1qqsghryazwn45zvmceuleukxvzpd7my0fk0g0veryww9ykrqkq3pzrqpz3mhxue69uhkummnw3ezummcw3ezuer9wcqqywr6'>nevent1q…ywr6</a><br/>_________________________<br/><br/>Tax and regulation is a big one. In the UK we can (currently) hold MSTR in a tax free account - accessible to cash in anytime (£20k additions per year). Explains the reason for such appetite for MSTR in the UK, as can’t do this with BTC. 2025-03-15T10:55:19Z https://njump.me/nevent1qqsvul63fpl4aaty4yzqmmdfmpzn4aecwysgpx00senrxrzukruncygzyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8k7cxtk5 In reply to <a href='/nevent1qqsgk6ftxj39y5ysus5h5mf2g50tn622xlzynu86uc5a6qdzcqe64dcpzemhxue69uhkummnw3ezuan4d3cx2mfwvdhk6ery8fm'>nevent1q…y8fm</a><br/>_________________________<br/><br/>Ha. Then move to the UK… 2025-03-12T17:13:41Z https://njump.me/nevent1qqsrghxdw3h2ar6n5q8umqdhk8czf0n2u2nfdw8gt4tsrhpjgt0z7dczyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8kwn86zd Updating my thesis on MSTR today. Anyone got opinions on the points below / any I have missed? <br/><br/>#mstr <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/nprofile1qqsqqx9hacelkffcgd3ecchzjtlvwq9xn2fmprhrwnzmm2t3exee2eqprfmhxue69uhhyetvv9ujummjv9hxwetsd9kxctnyv4mqz9rhwden5te0wfjkccte9ejxzmt4wvhxjmc3u5250" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>benwehrman</span> (<span class="italic">nprofile…5250</span>)</a></span> <span itemprop="mentions" itemscope itemtype="https://schema.org/Person"><a itemprop="url" href="/nprofile1qqsr7eqpjgvhu3kpaghy4n8maxvcwm4p5djqntnxrfhn5p9fv286afqpzfmhxue69uhhqatjwpkx2urpvuhx2ucpzemhxue69uhkxcfwwfjkcctev93xcefwdaexwew2k5m" class="bg-lavender dark:prose:text-neutral-50 dark:text-neutral-50 dark:bg-garnet px-1"><span>PunterJeff</span> (<span class="italic">nprofile…2k5m</span>)</a></span> <br/> <img src="https://m.primal.net/PdRZ.jpg"> 2025-03-12T16:33:46Z https://njump.me/nevent1qqsgp5y93sw3mm88dey9dwaf3z8z5akjq5nsl8zu66mj82x6ljdfjngzyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8kjum8lt In reply to <a href='/nevent1qqsf8la2a2hqd42d0ptm2e5n5a4dqfcrhzqygmesfxjq8fldvkcvrdsmlrc6t'>nevent1q…rc6t</a><br/>_________________________<br/><br/>What price do you think btc would be at without Saylor sat on the bid? If he stops do you think btc could drop below his average cost base? 2024-12-09T13:47:34Z https://njump.me/nevent1qqsreg5dsmfp24yhxkxg4ngyr8m4vw4yq9w9a9jlsauwwpnv9p3jmqszyqya93kyxve935u36e9gyspe2l3wd0zc404h78485z9ma2e2anj8k8zyt3e In reply to <a href='/nevent1qqspdzd4sxvy3pzcxq4lvl9j2smsfvln47668hu240nsc06x26yh65cdyaa76'>nevent1q…aa76</a><br/>_________________________<br/><br/>Great recommendation 2024-09-13T20:50:59Z