Treasurer North Dakota Skateboarding Association. Government auditor. Local events calendar. MSTR fixed income security suite engineer.
Joined November 2012
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Alec retweeted
My podcast conversation with @saturn_credit (@kevinlhr88, @eosborn88). We cover many challenging and nuanced questions on $STRC including buybacks, dividend rate, target price range, and onchain structuring.
Reminder: @Strategy's Q3 2026 earnings call is this Thursday, October 29 at 5 PM ET.
Timestamps:
00:45 CJ's Journey from Blackstone to Strategy
02:30 Strategy's Business Model: More Than Leveraged Bitcoin
08:02 Who Owns STRC? Retail vs. Institutional Investors
11:59 Institutional Demand for STRF, STRD, and STRK
14:02 Has the Selling Pressure from June Finally Ended?
17:15 Why Is STRC's Dividend Rate 12%?
30:55 Are STRC Buybacks a Sign of Weak Demand?
33:20 Strategy's Plans for Its Other Preferred Stocks
39:16 Did Strategy Grow STRC Too Quickly? How Big Can It Get?
45:49 Why Doesn't STRC Have the Same Investor Protections as SATA?
49:32 Why Not Let STRC Trade Above $100?
54:16 Can Strategy Maintain Bitcoin Amplification at Scale?
57:01 STRC vs. MSTR: Are Shareholder Interests in Conflict?
1:00:03 Do STRC Buybacks Undermine the Benefits of Perpetual Financing?
1:03:09 Maximizing Bitcoin per Share: When Should Strategy Issue Equity?
1:08:25 Behind the Scenes: How Strategy Makes Capital Allocation Decisions
1:14:02 Bringing Digital Credit Onchain with Saturn
1:17:35 Who Will Buy STRC During a Bitcoin Bull Market?
1:20:47 The Future of Onchain Credit: Global Access and Structured Products
BOOM BTC right back above the demand zone.
Would ya just look at those wicks on the 6hr? Just look at em.
Let’s ride.
Alec retweeted
A great year for Bitcoin is just getting started.
A brutal year for Bitcoin is just getting started.
Give me three minutes to explain why you should dump it now.
Outflows from ETFs are signal and will continue.
We will test the 57k low again in the next 12 months.
Why?
Because there are far too many dynamic places to put your money that are creating MUCH more value.
Why put your resources into a dead network that offers nothing beyond a store of value?
What's the point of place the BTC be if Bitcoin's Ponzi-scheme nature has gone away!?!
The viral nature of bitcoin was it's power... if you didn't own you were MOCKED!
Now? Completely reasonable, heck, SMARTER, to ignore bitcoin and place other bets!
No one is trying to convince people to buy Bitcoin anymore... the memes and NFTs are gone.
No one is saying $ BTC can change the world, because it won't — and BECAUSE AI HAS!
Just sell and shift from Bitcoin to Super Intelligence because one provides little to no value, and the other provides unlimited upside for humanity.
This should be obvious to everyone right now.
Bitcoin will never break its all-time high again.
Alec retweeted
Allard Peng says Digital Credit investors are being overcompensated for the risk they’re taking right now.
@stonychambers is back on The Income Show with @IIICapital to break down what’s holding STRC below par, where digital credit goes next, and why he’s still very bullish on Bitcoin.
Timestamps:
0:00 - Intro
1:21 - Why STRC Isn’t at Par
4:09 - Is Leverage Back?
7:14 - Buybacks vs. Dividends
11:05 - Too Many Buybacks?
15:55 - When Yield Is Too High
18:51 - The Future of Digital Credit
21:29 - Digital Money and Digital Yield
30:37 - Fixed vs. Variable
40:13 - Measuring Digital Credit Risk
46:02 - Bitcoin Outlook
51:09 - Closing Thoughts
$BTC $MSTR $STRC $ASST $SATA $SATS
Alec retweeted
Massive fumble BY THE REFEREES, the ball comes out of the QBs hand and lands in front of where the QB released it.
Thats an incomplete pass. Objectively if the ball comes out od the QBs hand forward, that’s a pass. Absurdity.
Gotta let Bitty do some consolidation here.
We might get some excellent buying opportunities this week.
Watching the referees influence NFL games in the last 5 minutes is absolutely disgusting. Makes me not want to watch the sport anymore.
The perfect Sunday football experience can be yours too. Simply wall mount four 55inch 4K LG TVs in your man cave and hook them all up to a PC.
Massive fumble BY THE REFEREES, the ball comes out of the QBs hand and lands in front of where the QB released it.
Thats an incomplete pass. Objectively if the ball comes out od the QBs hand forward, that’s a pass. Absurdity.
Put this in a textbook so the receivers know not to turn around into a dangerous situation. You have to put a lot of the blame from this play on the QB and receiver for:
1. Putting the receiver in a position to get blown up
2. Not protecting yourself as a receiver when the QB lays you out into a vulnerable position, and proceeding to turn around directly into the defender.
The offense is allowed to lead with their helmets, but the defense isn’t?
Just put flags on them. I’m sure that will be much better for the player and fans.
Alec retweeted
Pref buyers should do what best fits their risk profile.
STRD has a BTC rating of 4.5x
SATS has an estimated BTC rating of 1.4x
STRD has over 3x as much BTC backing it as SATS.
So BTC would need to fall nearly 80% for STRD to hit a 1x BTC rating. For SATS, it only needs to fall 30%.
That is a serious difference in risk and it heavily favors Strategy’s prefs. Is getting an extra 1.4% per year enough to justify the additional risk?
In my opinion, no. I’m bullish on BTC, but to not acknowledge the additional risk, or to look only at “tail risks” on the downside without considering run of the mills downside risk, is not analysis I support. A BTC drop of 30% is not out of the question and it would be a massive blow to all BTCTCs, but especially Strive, in this case.
