No True North tonight! Travel week / conference in PDX. Save your time & energy for Thursday earnings call 🙌🏼

Strategy tracking day 355 $MSTR now ranked 95th largest US company by market cap ($112B) Moved zero companies today. Behind Nike and their 79,400 employees that generate $1.2B avg net income per quarter (T4Y - trailing 4 years) Day 21 in a row of qualifying for S&P 500 17th

$CRWD (Crowdstrike) has a market cap $6B greater than $MSTR $CRWD was recently included in the S&P 500 for 4 positive quarters of earnings Below is a visual representation of $CRWD's historical quarterly net income priced in BTC If $CRWD were to buy Bitcoin with 100% of Net

ICYMI & You need more content, check out this weeks "Hurdle Rate Podcast" - Episode 21 The crew was firing on all cylinders this week. HOW MUCH LEVERAGE should a Bitcoin Treasury Company have? It depends....

If you prefer to READ your True North content, Neffy Nakamoto cranked out an incredible summary within 30 minutes of the show being wrapped up. Episode 35 of True North summary below No idea what AI you're using, but keep doing it. It's working!

Balance Sheet companies are way cooler than companies that redistribute all of their excess capital. Retain the value, Leverage it, Accumulate more Now throw a V16 Supercharged engine on the asset side of the equation with Bitcoin. It's the most efficient vehicle

Digital Risk is better than Physical Risk Magnetic attraction to the risk-free rate

Book recommendation: “DEBT: the first 5,000 years” by: David Graeber Ever wondered? What is debt? What is credit? And how did we get here? This book is for you Bitcoin $MSTR $STRF $STRC $STRK $STRD Bitcoin fixed the money, now turning attention to debt and capital markets

Another reason insurance premiums are going 🟥👆🏼 (Nerdy reinsurance capital market 🧵 for those interested) These large hailstone events have become much more common (larger bullseye effect) After these types of events, predatory roof and siding contractors will knock on

Proof of Work: Laramie, Wy

5 years ago today, Strategy purchased their first Bitcoin ₿21,454 acquired for $250 Million 1,825 days later, they now hold ₿628,791, valued at $73.2 BILLION ~$40M PER DAY in capital raise / appreciation Huge congrats to Michael Saylor & team! The Strategy is working 🟩👆🏼

Going to go a lot 🟩👆🏼Higher than this

With Bitcoin at $121,750, $MSTR has a $8.5 Billion unrealized gain in Q3 Estimate $22.5 EPS 41 days into Q3 Est TTM EPS ~ $35.10 Est P/E Ratio: 11.8 S&P 500 market avg P/E ratio: 25 Strategy is making money, and storing its value faster than anyone else

It's true

Strategy Oh, and $MSTR only needs Bitcoin to move ~ 6% higher ($129K) for Q3 gain to surpass Q2 gain

Not sure the masses truly appreciate how novel and incredible it is for a company to raise debt like capital with infinite duration from the click of a mouse and maybe a phone call. $18M raised last week, easy as swiping a credit card Finance is forever changed 🟩👆🏼

$STRC wants $100

👀

Strategy tracking day 363 $MSTR now ranked 90th largest US company by market cap ($113.5B) Jumped 1 company today. $MSTR made more money in the last quarter than the 89th largest company ( $SNPS) had in the last 15 years combined Day 29 in a row of qualifying for S&P 500 15th

Let’s talk Bitcoin with Tim Kotzman