₿: https://teapawt.org/t.co/TzeJeJfwFj 🎨: https://teapawt.org/t.co/FDYJaGJ992 🎹: https://teapawt.org/t.co/gWbR8za5ti
Joined December 2008
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Song of the Day, Cantonese edition:
youtu.be/zYbLJPX7-Yg
Stephen Chow retweeted
I sell this divine low-time-preference bread for sats in Miami Beach, in case any of you live here and want to try it 👉 anasbread.com
@saylor, we’re neighbors! Let’s get your first Bitcoin transaction. The internet needs to know if you’ve ever paid for anything in Bitcoin! Bitcoin for bread. I can already see the headlines 😎
Stephen Chow retweeted
This is a helpful overview of the watch with a variety of different straps:
youtu.be/oddCGAUHISo
I wanted to replace my orange watch which I smashed on a door knob cracking the crystal so that brought me to this Caravelle Sea Hunter (designed by Bulova). It turned out that the first watch had a massive 51mm lug-to-lug which I didn't understand the significance of at the time so it didn't make sense to repair when the Caravelle wears perfectly at 45.5mm lug-to-lug and would not cost much more than the repair itself. Plus I wanted to vote with my wallet to support this brand Caravelle for creating something I can recommend wholeheartedly at this excellent pricepoint under $300 with eight different colorways. They really checked all the boxes for what I was looking for, especially the dial color!
This is a helpful overview of the watch with a variety of different straps:
youtu.be/oddCGAUHISo
Stephen Chow retweeted
BITCOIN PER SHARE, MNAV, CEBE, VALUATION - LET'S TALK!
In this video I talk about the advantages and shortcomings of various gross and net metrics that investors use to evaluate Bitcoin treasury companies.
I dive deep into my opinion on how I currently view things on this rapidly evolving frontier.
Enjoy!
Stephen Chow retweeted
What is @Strive's Bitcoin strategy?
1. Long-term goal: Generate total returns exceeding Bitcoin.
2. Short-term goal: Generate positive BTC Yield annually.
3. Primary driver: Maintain high amplification powered by Digital Credit.
Bitcoin is the hurdle rate.
Stephen Chow retweeted
Welcome Back To The Hurdle Rate
Episode 80: Debt Crisis Is Accelerating
In this week’s Hurdle Rate, the crew breaks down the $6B Binance hack, Triple C spreads blowing out, and why Digital Credit like $SATA and $SATS may compress against junk. They also discuss what Fannie Mae preferreds teach about underwriting dividends, why both mNAV frameworks break, and why $ASST trades like perpetual leverage on $BTC.
Here’s the latest with @ColeMacro, @PunterJeff, @Werkman, and @TimKotzman.
Timestamps:
00:00 - Intro
00:52 - The Binance Hack
02:57 - Triple C Spreads Blow Out
11:02 - Bitcoin Still Seen As Risk
14:30 - Digital Credit Spreads Will Compress
18:41 - The Fannie Mae Preferred Lesson
23:22 - Rethinking mNAV
33:00 - Premium Or Discount?
35:36 - Breaking Both Valuation Models
42:17 - The ATM Narrative Is Wrong
46:39 - Perpetual Leverage On Bitcoin
Stephen Chow retweeted
If you could have bought and owned $SATS for ~$93 over the last 4 years and bought Bitcoin with the dividends every business day, it generated about 115,000 sats per share worth $100 on top of the value of your share.
Stephen Chow retweeted
Our Hurdle Rate podcast today went deep into valuation math.
The TLDR is both gross and net mNAV valuation models are too crude. We believe currently our common equity is currently trading at a discount to the present value of the future stream of cash flows relative to our financing costs under any forward looking Bitcoin CAGR we find reasonable.
Stephen Chow retweeted
Traditional fixed income is broken.
Fortunately, there’s an alternative: Digital Credit.
Offering double-digit yields, daily dividends, and options to meet the needs of different investors.
Learn more about Strive at Strive.com.
Learn more about SATA and SATS in our filings at sec.gov
If you could have bought and owned $SATS for ~$93 over the last 4 years and bought Bitcoin with the dividends every business day, it generated about 115,000 sats per share worth $100 on top of the value of your share.
Stephen Chow retweeted
Steak n Shake is the affordable, high-quality choice. Competitors like Five Guys are way overpriced — about double our prices — and their quality is often lower.
People sometimes think higher prices mean higher quality. With Steak n Shake, we choose to keep our prices low because we know our loyalty to you will be returned in kind over the long term.
Steak n Shake is a brand for everyone. We have taken fast food to a new frontier with 100% grass-fed, grass-finished beef — at affordable prices.
We have used the power of Bitcoin and increased customer traffic to reinvest in quality, playing the long game while competitors using seed oils race to the bottom.
🇺🇸MAHA🇺🇸
Stephen Chow retweeted
Strategy has acquired 811 $BTC and repurchased $208M of $STRC. As of 11/1/26, we hold 849,327 BTC and $4.9B of USD Assets. $MSTR strategy.com/press/strategy-…
Stephen Chow retweeted
Had a great conversation with @bramk last week.
🎧 tune in
Timestamps:
01:48 Why Strive Tracks Its Rankings
07:51 What A Treasury Company Is For
10:48 A Short History Of Liquidity
14:21 SATA And The Daily Dividend
19:49 The Cost Of Trust
27:19 Strive As A Balance Sheet Company
36:14 Why Insurers Can’t Hold Bitcoin
49:01 Who Buys Bitcoin Credit
59:16 Did Bitcoin Win Or Get Acquired?
01:11:04 Bitcoin As The World’s Shock Absorber
01:19:14 What Must Be True By 2033
$ASST $SATA $SATS $MSTR $STRC
