DeFi Dev Corp. (DFDV)

$DFDV to $100. I think there are multiple very reasonable paths for this to happen over the next 36 months. The 3 main pillars to this potential outcome though are: 1. $SOL to at least $400. $400 is only a 37% increase from the prior ATH, and would put SOL around a $240B asset. Very very reasonable as $ETH today is a $290B asset and we are still in a bear market/very early bull market. I think SOL is going well beyond $400, but I wanted to be conservative here. 2. @defidevcorp raises $1B on $CHAD over the next 36 months. I think this is also almost overly conservative when I look at what @strategy and @strive have been able to do in the last 12-18 months. Sure, they started from a larger base, but they also showed what is possible and paved the way. Plus, 36 months is more than double 12-18 months. I personally think @defidevcorp can raise a whole lot more than $1B on CHAD over the next 36 months, but for the sake of a conservative model, let's cap it at $1B. 3. $DFDV reaches a 2x fully converted mNAV at the end of 36 months. This is also pretty conservative given that DFDV reached a high of 10x in the last cycle and @strive is currently at ~2x, despite not being in a bull market. @strategy also was well above a 2x mNAV in the last bull market. This means ofc that if SOL does a 4x from here, DFDV does a 27x. If you want to get additional upside, you can buy the LEAPs. There is certainly some path dependency here and someone can build a model showing why this is not the case; however, I would like to remind everyone that from the bottom in late 2022 to the peak in 2024, $MSTR was up 40x. Coincidentally, $DFDV up 40x from the bottom earlier this year would be... $100. Additionally, @Strategy also much bigger at the time, and had already completed a full cycle. The core driver here in all of this is the leverage. Treasury Companies without leverage do not have the same path to magnified upside at all. Strategy, Strive, and DFDV have meaningful amounts of leverage. Most of the others do not. Now ofc 1, 2, or all 3 of these assumptions may not play out. Anything can happen in the world of risk. And leverage can amplify the downside as well. On the other hand, if you believe in the $SOL narrative, that all financial markets will occur onchain, that Solana is going to grab a huge chunk of that activity, and that a modest amount of the value will accrue to the token, then I think $DFDV is the best way to play the upside. There are many scenarios If anyone would like to see my model, please request in the thread.