You’ll often see charts from Weimar Germany of gold priced in the paper mark going parabolic. What that chart doesn’t show is the sharp drawdowns & volatility that occurred during the hyper-inflationary period. Speculating using leverage got wiped out multiple times. $BTC 1/2

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My panel discussion at the Bitcoin Treasuries Unconference in NYC last week on mNAV, BTC KPIs, and $MSTR ATM guidance. Grateful to share the stage with Ben Werkman and Adrian Morris. Thanks Tim Kotzman Bitcoin Treasuries 21 Million Stories for a fantastic event!

Bitcoin is money. Everything else is credit.

Today with Morgan Brennan, I discussed the differences between Bitcoin, Gold, and other crypto networks — and the rise of Digital Treasury Companies, Digital Credit, and Digital Finance.

It was great catching up with Jeff Walton to talk about the bitcoinization of finance. There is a pool of hundreds of trillions of dollars worth of credit products that need better collateral.

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Digital Credit is an exciting new asset class, enabled by Bitcoin’s emergence as Digital Capital. $MSTR is leading the way with securities such as $STRC — think of it as jet fuel distilled from a barrel of crude oil.

Strategy declared cash dividends on STRC payable Oct 31, 2025, and increased the STRC dividend rate by 25 bps from 10.00% to 10.25%. $STRC strategy.com/press/strategy…

As a result of Treasury and IRS interim guidance issued yesterday, Strategy does not expect to be subject to the Corporate Alternate Minimum Tax (CAMT) due to unrealized gains on its bitcoin holdings. $MSTR strategy.com/press/strategy…

Our journey began with $0.25 billion in Bitcoin — and an immediate $0.04 billion unrealized loss. Today, we closed at a new all-time high: $77.4 billion in BTC NAV.

I hope you kept the Bitcoin.

You can now hold and trade Strategy preferred stocks on Robinhood! We've heard from many Strategy investors that this was an important factor before moving their accounts to Robinhood, and we're excited to unlock this for them.

Strategy reports $3.9 billion in total Bitcoin fair value appreciation in Q3 2025. $MSTR $STRC strategy.com/press/strategy…

The only winning move is to play

Release the ₿ulls!

Another milestone in Bitcoin’s institutional adoption — Morgan Stanley opens the door for wealth clients. cnbc.com/amp/2025/10/10…

No tariffs on Bitcoin

In case you forgot ︎ ︎ ︎ ︎ ︎ ︎ I'll remind you ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ₿itcoin and gold are money ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ ︎ Everything else is credit

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