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Michael Saylor / @saylor:
RT by @saylor: Price to Book (P/B) of any equity trades >1x when the expected Return on Equity (ROE) is greater than the Cost of Equity.
The ROE of Bitcoin Treasury Companies can be greater than $BTC ARR, if the cost of leverage is lower than $BTC ARR. This is how leverage works for purchasing any asset.
GBTC had no ability to take on leverage. It didn't have optionality with its capital structure or operations. Plus, it had a drag from its management fees.
Titan
#Bitcoin Generational Bottom?
Something caught my attention while applying standard Fibonacci retracements on Bitcoin’s logarithmic chart.
In each of the last three cycles, Bitcoin bottomed inside the exact same retracement zone:
78.6% – 88.6% Fib Retracement
If the pattern repeats, a potential generational buying opportunity could emerge around $39K.
Not my base case. But markets don’t care about our opinions.
Will history repeat itself?
PS. ETFs EUA $38K - $49K JAN/2024
Max Keiser
RT bitdriver_sv: Our country is changing for the better.
Next november, the brightest minds in Bitcoin will meet to witness greatness at btchistoricosv
The bitcoinofficesv, led by stacyherbert is part of this transformation
#ELSalvador You are welcome to be part of it too! 🙏 https://twitter.com/bitdriver_sv/status/2066143627798286757#m
#Bitcoin #Wyckoff Accumulation 2026 #Bearmarket
@TutorialBTC
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Gday Bitcoin - Sean Clarke:
Get KYC FREE Bitcoin Now | Will Wright
Alessandro Mattos / @Apenasam:
Diferente da esquerda e da direita — que, ao menos, sustentam princípios, visões de mundo e algum senso de missão —, o centrão é uma criatura amorfa, um parasita institucional que prospera na sombra da cisão ideológica. Ele não tenta unir os polos, apenas se aproveita do impasse. Vive da paralisia. Ri do caos. E transforma a estagnação em moeda de troca. Se a esquerda representa o sonho da igualdade e a direita representa o sonho da liberdade, o centro brasileiro representa o pesadelo da acom...
PaulsCode - Latest posts:
Re-connecting my Start 9 Node
Bitcoin Structural Sharpe Ratio and Continuous Kelly Fraction
https://stephenperrenod.substack.com/p/bitcoin-structural-sharpe-ratio-and
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